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On July1, year2, a company decided to adopt IFRS. The company’s first IFRS reporting period is as of and for the year ended December, year2. The company will present one year of comparative information. What is the company’s date of transition to IFRS?
A. January1, year1.B. January1, year2.C. July1, year2.D. December, year2.
The company’s date of transition to IFRS is
A. January1, year1
B. January1, Year1 - Even it's Decided to Adopt on july1, year to , company should start from January1, year1.
As there is the need comparative information I think the date should be January 1, year 1.
Thanks for Inviting me Mr. Anil.
answer is A. January1, year1
