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Accounting Policies, Changes In Accounting Estimates And Errors

Accounting Policies CPE Self-Study Course

2 Credits


Subject Area


Webinar Qualifies For

2 CPE credit of Auditing for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPD credit (Verifiable) for Canadian CPAs

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPD credit (Verifiable) for CPA/CFF

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.


  • IFRS 101
    4 mins
  • Objectives of IAS 8
    18 mins
  • Prior period errors
    28 mins
  • Selecting and application of accounting policies
    40 mins
  • Changes in accounting policies
    52 mins
  • Limitations on retrospective restatement
    86 mins

Course Description

IAS 8 prescribes the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates, and corrections of errors. When there is no specific standard that applies to a transaction, other event or condition, IAS 8 requires that Management apply judgment. But just exactly how do you do it?

Guessing will not suffice, nor will management’s insistence on adopting a significant change. Therefore, knowing if the criteria to be applied are acceptable under IAS 8 is critical to satisfying the auditor and management to proceed with changes in accounting policies, changes in accounting estimates and corrections of prior period errors, that do not contradict IFRS.

This online CPE webinar covers following key topics:

  • Dealing with a change in accounting estimate.
  • Accounting for prior period errors.
  • Examine the guidelines for categorizing items in the financial statements.
  • Handling transactions when there is no specific standard that applies.
  • Review disclosure requirements.

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Learning Objectives

  • To know the rules for selecting and applying accounting policies.
  • To discuss the rules regarding when an entity can change its accounting policy.
  • To be familiar with financial statement presentation.

Who Should Attend?

  • Auditors
  • Certified Fraud Examiner
  • Certified Management Accountant
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA