Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

IASB issues changeover guidance.

Document Cited in Related
Vincent
PositionTechnical Update

The International Accounting Standards Board (IASB) has published proposals on how organisations should make the transition to international financial reporting standards (IFRSs) from other accounting rules. Exposure draft ED1, First-Time Application of International Financial Reporting Standards, aims to ensure that all organisations adopting IFRSs present comparative information in their financial statements. Under the proposals, firms preparing statements to IFRSs for the first time must disclose how the transition to international standards has affected their reported financial position, performance and cash flows. Limited exceptions to the principle are proposed, most notably where the cost of complying would exceed...

To continue reading

Request your trial
COPYRIGHT TV Trade Media, Inc.
COPYRIGHT GALE, Cengage Learning. All rights reserved.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT