Identify two examples of judgments that could have a significant impact on the financial statements.Identify four examples of estimation uncertainty that could result in a material adjustment in future years?
Unlike U.S. GAAP, IFRS requires that an entity disclose both (a) management judgments with the most significant effect on the financial statements and (b) information about the major sources of estimation uncertainty that may result in a material misstatement to the carrying values of the entities assets and liabilities. These disclosure requirements are included in […]