Uncertainty about the estimation of Ffnancial statement information and fair presentation

Abstract

From 2023, the amendments to IAS 8 are intended to provide more clarity to the distinction between accounting policies and accounting estimates. The correct identification of differences affects the fair presentation of financial statement information. To clarify the difference between these concepts, the Board replaced the concept of “changes in accounting estimates” with the concept of “accounting estimates”. As a result of the amendments, the accounting estimate is defined as “the amount of money reflected in the financial statements which is subject to estimation uncertainty.”