Accounting policy selection and change: requires criteria and disclosure for estimates, policies and error corrections. Ind AS 8 prescribes criteria for selecting accounting policies and for making and presenting changes in those policies, requires recognition and disclosure of changes in accounting estimates and the correction of prior period errors to enhance relevance, reliability and comparability of financial statements, and applies to selection and application of policies, changes in estimates and corrections of errors, while not addressing the tax effects of error corrections.