Does IFRS require that companies disclose information about the assumptions and

estimates they make in their financial statements? Explain.

A$.$ IFRS requires a disclosure about the assumptions and estimates made in the

financial statements. IFRS also requires that companies disclose the

judgments that management has made in determining appropriate accounting

treatment for amounts reported on the financial statements.

B$.$ IFRS does not require a disclosure about the assumptions and estimates made

in the financial statements. However, IFRS does require that companies

disclose the judgments that management has made in determining appropriate

accounting treatment for amounts reported on the financial statements.

C$.$ IFRS requires only entities in manufacturing businesses to disclose the

assumptions and estimates made in the financial statements. However, IFRS

does not require disclosure in manufacturing companies under $$5M$ in

revenue.

D$.$ IFRS requires a disclosure about the assumptions made in the financial

statements. However, IFRS does not require that companies disclose the

estimates and judgments that management has made in determining

appropriate accounting treatment for amounts reported on the financial

statements.