IFRS1 first-time adoption of international financial reporting standards defines the date of transition to IFRS as:

Question

a.	The date at the end of the first IFRS reporting period
b.	The date at the start of the earliest period for which comparatives are provided in the first IFRS financial statements
c.	The date at the end of the earliest period for which comparatives are provided in the first IFRS financial statements
d.	The date at the start of the first IFRS reporting period

Zeeshan Bhutto · Answer

b. The date at the start of the earliest period for which comparatives are provided in the first IFRS financial statements

Stuart FREARSON · Answer

a. comparatives are adjusted accordingly

Danial John Lowrence · Answer

B . The date at the start of the earliest period for which comparatives are provided in the first IFRS financial statements

Example : If a Company decided to present financial reports According to IFRS in Financial Year ending 31.12.2017, the trasition date has to be 01.01.2016.

Muhsin Kamal · Answer

Well, if we look simply the date of transition will be one year back.Example: if A Co adopt IFRS in for its financial statement of31 December2015, than the date of transition will back two periods i.e.1 Jan2013.

So I'm sure that B is the correct answer.

georgei assi · Answer

The correct answer A

خدمات بيت.كوم

استخدم تطبيق بيت.كوم

ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

IFRS1 first-time adoption of international financial reporting standards defines the date of transition to IFRS as:

عمليات البحث الشائعة

المزيد من الأسئلة المماثلة