Name: 會計變化----《國際財務報告準則》 (Accounting Changes - IFRS)
Uploaded: 2021-01-14T06:56:03.000Z
Duration: 11 min 26 s
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未來進行式

And today we'll be talking about accounting changes.

In accounting, we have to deal with an uncertain future.

There are events that need to be included

in our financial statements now, such as accruals

However, we don't know for sure what the amount of the expense

Instead, we use an estimate, which is really just an attempt

The fact that financial statements include estimates

One, a change may be required to reflect changing circumstances.

The circumstances that led to our estimate in the past

may now be different, so we have to change our estimate

This is called a change in accounting estimate.

These new policies are chosen because they reflect

that the new policy better reflects current reality.

These changes may be at the discretion of management,

be an involuntary change due to a change in accounting

This is known as a change in accounting policy.

Three, a previous estimate may have been an error.

available at the time the estimate was made,

management should have known that it was wrong.

Regardless of whether the error is an accident or intentional,

This has to be fixed and it is known as an error correction.

First is a change in accounting estimate-- also called

a different estimate is required for the current period

compared to the estimate that was used in a prior period.

The new estimate may change the carrying value

change the way we recognize the use of an asset.

or what we expect regarding future benefits.

What are some examples of changes in estimates?

There are many examples of when we make estimates in accounting

would be considered a change in accounting estimate.

A few examples would be a change to the percentage we

use to calculate the allowance for doubtful accounts,

in the estimated useful life of long-lived assets

or the residual value, the percentage used

to calculate warranty provisions may change,

and the value of inventory when obsolescence is an issue

There are many other examples of changes in estimates,

because estimates are a normal part of accounting,

particularly accrual accounting, which is

Because a change in estimate is based on new information,

that change does not relate to prior periods

after all, when the estimate was made in the prior period,

it was the information available then that was important.

As long as the estimate in the prior period

was made in good faith using the information available

That's why a change in estimate does not require any changes

Instead, a change in estimate is treated as a perspective

adjustment, meaning the changes implemented

Sometimes it is very difficult to differentiate

For instance, if a business changes its depreciation

method, say from straight line to declining balance,

is that a change in estimate or a change in accounting policy?

It may be true that it's a change in estimate,

because prior estimates of how the benefits would flow

which will result in more reliable and relevant

information with regards to the company's financial position,

This requires professional judgment to determine.

Under IFRS, if it is unclear whether a change is

should be treated as a change in accounting estimate.

That's very important to know with regards

Remember, a change in estimate requires perspective adjustment

with no changes to the prior year's financial statements.

There are also no disclosure requirements

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會計變化----《國際財務報告準則》 (Accounting Changes - IFRS)

perspective

relevant

demonstrate

period