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IAS 8

Introduction

• The purpose of this standard is to prescribe criteria

for the selection of an accounting policy, as well as

for the accounting treatment and disclosure of:

• changes in accounting policies,

• changes in accounting estimates and

• correction of prior period errors,

• to ensure consistent preparation and presentation

of financial statements.

• The standard enhances the comparability of the

entity’s financial statements with previous periods,

as well as with financial statements of other

entities.

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