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Challenges›Rockhaven Ltd - Policy Change, Estimate Revision and Error Correction (IAS 8)

Journal EntryhardIAS/IFRS

Rockhaven Ltd - Policy Change, Estimate Revision and Error Correction (IAS 8)

Accounting Changes Accounting Error Income Tax

Question

Rockhaven Ltd reports under IFRS and pays income tax at 20% . Its 2024 financial statements have been issued and the books for 2024 are closed. The following three independent situations must be dealt with during 2025. Change in accounting policy. Ef

Scoring

40% Account naming / line matching
40% Amount correctness
20% Structure / section placement

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