If you consider it to be an error, you can correct it by treating it as a change in an accounting estimate -- an adjustment of the carrying amount of an asset or liability, or related expense, resulting from reassessing the expected future benefits and obligations associated with the asset or liability. (as per IAS 8).
Recognise the change prospectively in proﬁt or loss in:
- Period of change, if it only affects that period; or
- Period of change and future periods (if applicable).
- Nature and amount of change that has an effect in the current period (or expected to have in future)
- Fact that the effect of future periods is not disclosed because of impracticality