Which of the following would be treated under IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors as a change of accounting policy?
A: A change in valuation of inventory from a weighted average to a FIFO basis
B: A change of depreciation method from straight line to reducing balance
C: Adoption of the revaluation model for non-current assets previously held at cost
D: Capitalisation of borrowing costs which have arisen for the first time
A: A change in valuation of inventory from a weighted average to a FIFO basis
B: A change of depreciation method from straight line to reducing balance
C: Adoption of the revaluation model for non-current assets previously held at cost
D: Capitalisation of borrowing costs which have arisen for the first time
举一反三
- 中国大学MOOC: Which of the following would be treated under IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors as a change of accounting policy?
- 中国大学MOOC: Which of the following would be a change in accounting policy in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors?
- Which<br/>of the following is not a change in accounting principle? () A: A<br/>change from LIFO to FIFO B: A<br/>change in estimated salvage value of depreciable asset C: A<br/>change from an accelerated depreciation method to straight-line<br/>depreciation D: A<br/>change from historical cost to fair value accounting.
- Which one of the following is a change in an accounting principle（） A: A change from FIFO to LIFO. B: Recording a prior period adjustment. C: A change in the estimated service life of machinery.
- Which of the following transactions would be recorded under accrual-basis accounting but NOT under cash-basis accounting? A: Borrowing money from the bank. B: Collecting cash from customers. C: Issuing stock for cash. D: Purchasing of inventory on account.