First-Time Adoption of IFRSs by a Company
In this article we will discuss about the first-time adoption of IFRSs by a company. A company is regarded as a first-time adopter of IFRSs if, for the first time, it makes an explicit and unreserved statement that its general purpose financial statements comply with IFRSs. IFRS 1 First-time Adoption of International Financial Reporting Standards prescribes the accounting and disclosure [...]