- Measurement basis of the figure, eg, value the inventory using FIFO but now use weighted average method; use replacement cost rather than historic cost.
- Recognition basis of the figure, eg, recognize as an expense before but now for asset(eg,IAS 23 borrowing costs)
- Presentation basis of the figure, eg, recognize the depreciation expense into cost of sales now rather than in administrative expenses before.
Something relating to your experience
- Allowance for receivables;
- Useful life/ depreciation method of the non-current assets;
- Warranty provision relating to return of goods from customers.
|Retrospective adjusting||Prospective adjusting|
|change in accounting policies||Change in accounting estimate|
|Error found in last year’s account|