">

The International Accounting Standards Board (IASB) today issued amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards.

The amendments, dealing with loans received from governments at a below market rate of interest, give first-time adopters of IFRSs relief from full retrospective application of IFRSs when accounting for these loans on transition. This is the same relief as was given to existing preparers of IFRS financial statements.

The amendments are mandatory for annual periods beginning on or after 1 January 2013. Earlier application is permitted.

Source – http://www.ifrs.org

Tags:

More Under CA, CS, CMA

0 Comments

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930