Main purpose of IASB is to get global recognition and appearance. Accounting policies are the rules in which way financial statements should be prepared, minimum level of disclosers and information about how numbers are calculated and treated. As it stated in international accounting standard (ISA 8), accounting policies “the specific principles, bases, conventions, rules and practices applied by entity in preparing and presenting financial statements” (Melville A. 2009 p.59). In other words it means that ISA 8 gives entity different chose of treating financial statement. Accounting policies are disclosed in the notes section. Some polices are only can be treated as it allowed by international accounting standards, some of them permit a choice of polices, others permit only one way. Therefore IAS 8 provides guidance on selection standards and interpretations. If there are no specific application of policy in international standards to specific item, entity should use its own judgment based on IASB framework and guidance. Moreover polices depend on industry and economic decisions, and sometimes management require changes in polices for more relevant information, which is allowed by IAS8. Change in accounting policies can also be required by IAS8, due to change in standards of interpretation

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