Written by: Barbora Choi on Tue Sep 23
IAS 8 Basis of Preparation of Financial Statements
IAS 8 enhances the relevance, reliability and comparability of financial statements - over time and with others.
Is the choice of accounting policy - for example depreciation method or inventory valuation - a straightforward task?
Which factors play into selection of policies resulting into large and systematic effects on the assets and expenses reported in financial statements?
Accounting Standards in 15 Seconds has some answers.
