In almost every accounting framework there is in the world there are areas where company’s management has the right to choose between methods and approaches. Whether they’re important to the company or not, the options are there. 

For an example if there are two choices on how one can treat investment property – at cost or at fair value – one ought to disclose the method they’ve chosen.  Disclosing the choice made means that it includes all relevant aspects that are driven from it. In case you’ve chosen the fair value you should also explain to the readers how exactly this fair value is measured, which sources are used and so on.

As it happens, there’s always the factor of significance meaning that only those judgements made that have a significant impact on the statements should be disclosed. For an example if the investment property is insignificant the users of the report would hardly be interested in the approach used for its treatment.

I know it may seem like it’s nothing and it’s already part of the rule that says you should disclose all relevant accounting policies applied. Whilst it’s true I still believe it’s worth mentioning as for some areas it may not seem so apparent you’ve actually made a choice. And since it’s not just the choice but also all relevant treatments and “sub-choices” if you may, it does become relevant.