International Financial Reporting Tool (IFRT)

Prepare our perfect financial statements according to IFRS requirements!
Read more about the reporting tool, or launch it now. it's FREE!

IFRS Disclosure Guide

25. Notes - First time adoption

Disclosure of first-time adoption

Description of nature of main adjustments that would make historical summaries or comparative information presented in accordance with previous GAAP comply with IFRSs

Disclosure of comparative information prepared under previous GAAP
 
Financial effect of transition from previous GAAP to IFRSsnone
Previous GAAPnoneEffect of transition to IFRSsnone
At 31.12.2017: 
Equity  
For the year 2017: 
Comprehensive income  
Profit (loss)  
Explanation of effect of transition on reported financial position
Explanation of effect of transition on reported financial performance
Explanation of effect of transition on reported cash flows
Description of reason why entity stopped applying IFRSs
Description of reason why entity is resuming application of IFRSs
Explanation of reasons why entity elected to apply IFRSs as if it had never stopped applying IFRSs
Explanation of fact that financial statements for previous periods not presented
Explanation of cross-reference to interim financial statement disclosures for first-time adopter

Disclosure of redesignated financial assets and liabilities
 
Redesignationnone
Previous GAAPnoneRedesignated amountnone
At 31.12.2017: 
Redesignated financial asset as available-for-sale  
Redesignated financial asset as at fair value through profit or loss  
Redesignated financial liability as at fair value through profit or loss  
Description of redesignated financial liabilities
Description of redesignated financial assets

Disclosure of fair values of items used as deemed cost
 
Fair value as deemed costnone
Previous GAAPnoneAggregate adjustment to carrying amounts reported under previous GAAPnone
At 31.12.2017: 
Intangible asset fair value used as deemed cost  
Property, plant and equipment fair value used as deemed cost  
Investment property fair value used as deemed cost  
 31.12.2017
Aggregate deemed cost of investments for which deemed cost is previous GAAP carrying amount 
Aggregate deemed cost of investments for which deemed cost is fair value 
Aggregate adjustment to carrying amounts of investments reported under previous GAAP 
Description of fact and basis on which carrying amounts determined under previous GAAP were allocated if entity uses exemption in IFRS 1.D8A(b)
Description of fact and basis on which carrying amounts were determined under previous GAAP if entity uses exemption in IFRS 1.D8B
Explanation of how and why entity had, and ceased to have, functional currency for which reliable general price index is not available and no exchangeability with stable foreign currency exists
Statement that comparative information does not comply with IFRS 7 and IFRS 9
Description of basis used to prepare comparative information that does not comply with IFRS 7 and IFRS 9

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: