IAS Plus newsletter - Special Global Edition — IFRS 1, First-time Adoption of IFRS: Questions and Answers
Published on:
19 Jul 2003
![IAS Plus newsletter - Special Global Edition — IFRS 1, First-time Adoption of IFRS: Questions and Answers Image]()
On 19 June 2003, the International Accounting Standards Board issued IFRS 1, First-Time Adoption of International Financial Reporting Standards. IFRS 1 sets out the procedures that an entity must follow when it adopts IFRS for the first time as the basis for preparing its general purpose financial statements. This newsletter summarises the main provisions of IFRS 1 and identifies some examples of applying them.
