28 November 2009
Hi Dinesh, as per as 1 accounting policy refers to specific accounting principles and methods of applying those principles in preparation and presentation of financial statements. e.g. Providing dep on an asset to account for loss in value(principle) and slm or wdv or any other appropriate method (method of applying principle) whereas accounting estimate is approximation of an amount of an item in the absence of proper means of measurement(e.g.RDD , Dep, amortization, w/o deferred revenue exp etc.) Regards, CA Shakuntala Chhangani
CAclubindia
