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Accounting Policy Canges
I need to do an accounting policy change due to first time adoption of IFRS. Need to know what the adjustments for following example are.
Provision for retirement obligation, Payable balance $20,000 as at 01-01-2012 According to IFRS calculation year end balance should be $48,500 (31-12-2012) When taking retrospective effect for three years, 2010 :$15,000 2011 :$7,500 2012: $6,000 Can we charge $6,000 for current year P&L and take 2010/11 balances through changes of equity? Or else should I need to take both 2012/11 to current year P&L and 2010 from equity? |
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