[IFRS – Exceptions] -Financial assets or intangible assets accounted for in accordance with IFRIC 12 & Borrowing costs
26. A first-time adopter may apply the transitional provisions in IFRIC 12. 27. A first-time...
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Category: 2. IFRS First Time adoption
[IFRS – Exceptions] -Decommissioning liabilities included in the cost of property, plant and equipment
25. IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities requires...
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[IFRS – Exceptions] -Fair value measurement of financial assets or financial liabilities at initial recognition
24. Notwithstanding the requirements of paragraphs 7 and 9, an entity may apply the requirements...
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[IFRS – Exceptions] – Designation of previously recognised financial instruments
23. IAS 39 permits a financial asset to be designated on initial recognition as available for sale...
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[IFRS – Exceptions] – Compound financial instruments
22. IAS 32 Financial Instruments: Presentation requires an entity to split a compound financial...
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[IFRS – Exceptions] – Assets and liabilities of subsidiaries, associates and joint ventures
20. If a subsidiary becomes a first-time adopter later than its parent, the subsidiary shall, in...
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[IFRS – Exceptions] – Investments in subsidiaries, jointly controlled entities and associates
18. When an entity prepares separate financial statements, IAS 27 (as amended in 2008) requires it...
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[IFRS – Exceptions] – Cumulative translation differences
16. IAS 21 requires an entity: a) To recognise some translation differences in other...
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[IFRS – Exceptions] – Employee benefits
14. In accordance with IAS 19 Employee Benefits, an entity may elect to use a ‘corridor’ approach...
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[IFRS – Exceptions] – Leases
13. A first-time adopter may apply the transitional provisions in IFRIC 4 Determining whether an...
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[IFRS – Exceptions] – Fair value or revaluation as deemed cost
9. An entity may elect to measure an item of property, plant and equipment at the date of...
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[IFRS – Exceptions] – Insurance contracts
8. A first-time adopter may apply the transitional provisions in IFRS 4 Insurance Contracts. IFRS...
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[IFRS – Exceptions] – Share-based payment transactions
6. A first-time adopter is encouraged, but not required, to apply IFRS 2 Share-based Payment to...
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[IFRS – Exceptions] – The Effects of Changes in Foreign Exchange Rates
4. An entity need not apply IAS 21 The Effects of Changes in Foreign Exchange Rates...
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[IFRS – Exceptions] – Business Combinations – Part 3
3. The exemption for past business combinations also applies to past acquisitions of investments...
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[IFRS – Exceptions] – Business Combinations – Part 2
2. If a first-time adopter does not apply IFRS 3 retrospectively to a past business combination,...
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[IFRS – Exceptions] – Business Combinations – Part 1
A first-time adopter may elect not to apply IFRS 3 (as revised in 2008) retrospectively to past...
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[IFRS – Exceptions] -Grant exemptions from some requirements of other IFRSs. (Optional exceptional)
Under this category, a first time adopter may elect to use one or more of the following...
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