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IFRS 1 — Items not added to the agenda

Background

This page presents a summary of items not added to the IFRS Interpretations Committee's agenda in relation to IFRS 1 First-time Adoption of International Financial Reporting Standards together with the Committee's public explanation of the reasons for not adding those items to its agenda.

Related Discussions

  • IFRS 1 — Repeat application of IFRS 1

  • Sep 02, 2010

  • The Committee received a request identifying an entity that had previously reported in accordance with IFRSs to meet foreign listing requirements, and had applied IFRS 1 'First-time Adoption of International Financial Reporting Standards'. The request asks the Committee to clarify how the entity should transition back to reporting in accordance with IFRSs, and specifically whether it can apply IFRS 1 for a second time.

  • IFRS 1 — Accounting for costs included in self-constructed assets on transition

  • May 07, 2010

  • The Committee received two requests concerning the application of IFRSs for an entity that capitalises certain costs, including actuarial gains and losses, as part of self-constructed assets, in accordance with its previous GAAP accounting policies. On transition to IFRSs, the entity changes its accounting policy for actuarial gains and losses and determines that they should no longer be capitalised. The requests ask whether the entity should adjust the carrying amount of self-constructed assets on transition to IFRSs and, if not, how the change in its actuarial gains and losses accounting policy should be reflected in the carrying amount of self-constructed assets in subsequent reporting periods.

All Related