31386 paragraphs found
Accounting estimates are monetary amounts that may be related to classes of transactions or account balances recognised or disclosed in the financial report. Accounting estimates also include monetary amounts included in disclosures or used to make …
An auditor’s point estimate or range may be used to evaluate an accounting estimate directly (for example, an impairment provision or the fair value of different types of financial instruments), or indirectly (for example, an amount to be used as a …
Not all accounting estimates are subject to a high degree of estimation uncertainty. For example, some financial statement items may have an active and open market that provides readily available and reliable information on the prices at which actual …
Financial reporting frameworks often call for neutrality, that is, freedom from bias. Estimation uncertainty gives rise to subjectivity in making an accounting estimate. The presence of subjectivity gives rise to the need for judgement by management and …
Some accounting estimates, by their nature, do not have an outcome that is relevant for the auditor’s work performed in accordance with this Auditing Standard. For example, an accounting estimate may be based on perceptions of market participants at a …