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Ind-AS 8: Accounting Policy, Estimates & Errors (Accounting Policy…

- - - - Calculate total accounting effect by existing policy from date of
        first application till date of change
      - Calculate total accounting effect under new policy for same period
      - Difference adjusted in PY retained earnings
        & assets/liabilities so that opg bals in CY are correct
      - Follow transitional procedures in other Ind-AS, if given
      - If retrospective adj. is impractical
        consider adj. from year in which it is practical
    - - Applying a new policy for transactions
        that are substantially different from previous ones
      - Applying a new policy for transactions
        that did not occur before or were immaterial