Case study 5 solution ias 8

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IAS 8 ACCOUNTING ESTIMATE,ERRORS SE 3

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Case study 5 solution ias 8

  1. 1. EXTRACT OF STATEMENT OF COMPRHENSIVE INCOME 2009 RE 2008SALES 2,60,000 1,83,750COST OF GOODS SOLD 2,00,000 1,50,000PBIT 60,000 33,750INCOME TAX 18,000 10,125PROFIT AFTER TAX 42,000 23,625EFFECT OF ERROR CORRECTIONDECREASE IN PROFIT 11,375DECREASE IN INVENTORY 16,250DECREASE IN INCOME TAX 4,875DECREASE IN EQUITY 11,375

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