Partial adoption of IFRS

All topics related to IFRS Standards.
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Audit Shj
Posts: 8
Joined: 12 Jan 2020, 12:47

Partial adoption of IFRS

Post by Audit Shj »

Dear Friends
Our company follows IFRS for SME, the management would like to adopt IFRS 16. What I know partial adoption of IFRS is not possible when the Company follow IFRS for SME's. they have to converge to full IFRS to follow IFRS 16, Aam I right?
JRSB
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Posts: 1309
Joined: 01 Mar 2020, 01:10
Location: UK

Re: Partial adoption of IFRS

Post by JRSB »

as I understand it, IFRS for SMEs does not capitalise leases, so yes, either you are using IFRS for SMEs or you are using IFRS.
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