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IFRS 1 requires a first-time adopter to prepare its financial statements in accordance with the standards and interpretations effective at the reporting date, thus disregarding previous versions of IFRS and the transitional provisions of the standards. In this publication, we review the contents of IFRS 1 and focus on the significant ...
Welcome to our FREE IFRS Full Course series with CA CPA Vinod Agarwal! 📘 In this Lecture, we dive into the IAS 1 - Presentation of Financial Statements, a f...
29 cze 2010 · The document provides an overview of IFRS 1, which outlines the requirements for an entity's first adoption of International Financial Reporting Standards.
International Financial Reporting Standard 1 First-time Adoption of International Financial Reporting Standards (IFRS 1) is set out in paragraphs 1–40 and Appendices A–E. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the IFRS.
31 lip 2002 · IFRS 1 First-time Adoption of International Financial Reporting Standards sets out the procedures that an entity must follow when it adopts IFRSs for the first time as the basis for preparing its general purpose financial statements.
Topics covered include the general principles of IFRS 1, the application of the voluntary and mandatory exemptions to full retrospective application of standards, and presentation and disclosure requirements. The e-learning module can be accessed here.
Upon completion of this module you will be able to define the underlying principle of IFRS 1, classify whether financial statements qualify for first IFRS financial statements or not, distinguish different dates while presenting first IFRS financial statements, identify mandatory exceptions from full retrospective application, identify optional ...
