The IAS 8 Analysis and Critical Thesis of the IAS 8
In this paper the concept and the solutions suggested by IAS 8 are analysed extensively by using accounting examples. These solutions are indicated in order to achieve a equable treatment of the issues that this standard introduces in accounting. In the first part the definitions of the Standard are presented and the meanings of net profit or loss are clarified. Net profit or loss comes either from enterprise’s ordinary activities or from activities of extraordinary nature the result of whom forms extraordinary results. Afterwards, the accounting errors are mentioned and the way to correct them is indicated using recent accounting examples. Moreover, in this paper are mentioned the notifications that must be made in order to ensure the reliability of the economic conditions. Finally, the accounting treatment of the changes in accounting policies is made clear. These changes are described explicitly by using examples of economic conditions.