IFRS 1 First-time Adoption of International Financial Reporting Standards

URI: https://gptkb.org/entity/IFRS_1_First-time_Adoption_of_International_Financial_Reporting_Standards
GPTKB entity
Statements (18)
Predicate Object
gptkbp:instanceOf gptkb:International_Standard
gptkbp:abbreviation gptkb:IFRS_1
gptkbp:appliesTo Entities preparing their first IFRS financial statements
gptkbp:category gptkb:accounting_standard
gptkbp:issuedBy gptkb:International_Accounting_Standards_Board
gptkbp:language English
gptkbp:provides Exemptions and exceptions to retrospective application
gptkbp:purpose Provides guidance for entities adopting IFRS for the first time
gptkbp:relatedTo gptkb:International_Financial_Reporting_Standards
gptkbp:replacedBy gptkb:SIC-8_First-time_Application_of_IASs_as_the_Primary_Basis_of_Accounting
gptkbp:requires Extensive disclosures to explain transition to IFRS
Full retrospective application of IFRS standards with certain exemptions
Preparation of an opening IFRS statement of financial position
gptkbp:startDate 2004-01-01
gptkbp:status Active
gptkbp:bfsParent gptkb:International_Financial_Reporting_Standards_(IFRS)
gptkbp:bfsLayer 7
https://www.w3.org/2000/01/rdf-schema#label IFRS 1 First-time Adoption of International Financial Reporting Standards