alleryStart learning →Do Ind AS 8 policy-change rules apply to changes made on adopting Ind AS?
ANo, they do not apply
BOnly in interim reports
COnly for estimates
DYes, they apply in full
Answer & Solution
Correct answer: A. No, they do not apply
Paragraph 27 says Ind AS 8 does not apply to policy changes made when adopting Ind ASs, before the first Ind AS statements.
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Related questions
Once a company follows Ind AS, voluntarily or mandatorily, can it revert to the old methodCompanies with Rs 500 crore net worth were mandatorily covered from:Under IFRS 1, adjustments from using a different earlier GAAP are recognised directly in:The December 2010 amendment to IFRS 1 guided entities emerging from:The restructured version of IFRS 1 was issued on:IFRS 1 was first issued in which month and year?Which body issued IFRS 1, the model for Ind AS 101?Ind AS 101 was notified by the MCA vide G.S.R. 111(E) dated: