The organisation estimates the size of, for example, an item in the annual accounts to the best of its ability, taking into account all the relevant information available. Uncertainties make estimates necessary. A previously made estimate may need to be revised. This may be called for due to changes in the circumstances on which the estimate is based, or due to the availability of new information. This leads to an amendment of the estimate. The Dutch Accounting Standard Board has further elaborated on (the processing approach for) amendments to estimates in Guideline 145.
Estimates (Chapter 10)
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