Under this category, a first time adopter may elect to use one or more of the following exemptions:

  1. Business Combinations
  2. The Effects of Changes in Foreign Exchange Rates
  3. Share-based payment transactions
  4. Insurance contracts
  5. Fair value or revaluation as deemed cost
  6. Leases
  7. Employee benefits
  8. Cumulative translation differences
  9. Investments in subsidiaries, jointly controlled entities and associates
  10. Assets and liabilities of subsidiaries, associates and joint ventures
  11. Compound financial instruments
  12. Designation of previously recognised financial instruments
  13. Fair value measurement of financial assets or financial liabilities at initial recognition
  14. Decommissioning liabilities included in the cost of property, plant and equipment
  15. Financial assets or intangible assets accounted for in accordance with IFRIC 12
  16. Borrowing costs