IFRS first time adoption

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marea
Posts: 49
Joined: 27 Feb 2020, 17:35

IFRS first time adoption

Post by marea »

Hello community members,

What sources have you used when you implemented IFRS for the first time in your company. I am looking for sources that contain a lot of practical examples (books, big 4 publications, webinars, subscriptions etc). Any suggestions?
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Marek Muc
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Location: Warsaw, Poland

Re: IFRS first time adoption

Post by Marek Muc »

I suggest looking for publications comparing your previous GAAP to IFRS , they will highlight major areas of focus. Are you in a country that is making a move towards IFRS or is it just your company?
marea
Posts: 49
Joined: 27 Feb 2020, 17:35

Re: IFRS first time adoption

Post by marea »

Thank you Marek. I have already found a comparison made by a big 4 co.
The company is a first time adopter.
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Marek Muc
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Posts: 815
Joined: 15 Oct 2018, 17:21
Location: Warsaw, Poland

Re: IFRS first time adoption

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I was asking whether the whole country is making a move towards IFRS now, or is it just your company. In the former case, you should be able to find plenty of IFRS 1 publications focused on transitioning from your local GAAP. Other than IFRS 1, it's just general IFRS knowledge, so BIG4 publications, IFRS.org and IFRScommunity.com ;)
marea
Posts: 49
Joined: 27 Feb 2020, 17:35

Re: IFRS first time adoption

Post by marea »

The company is moving toward IFRS, not the country.

I have found some publications IFRS 1, but they are quite old 2012 and 2009. Do you have any newer publications that you could share a link to them?
Of course, IFRS org and especially this IFRS community is a very valuable source. I believe I will post a lot of questions in the near future. ;)
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Marek Muc
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Posts: 815
Joined: 15 Oct 2018, 17:21
Location: Warsaw, Poland

Re: IFRS first time adoption

Post by Marek Muc »

I don't, but IFRS 1 hasn't changed much, you can use those a bit dated publications and track what has changed since then, e.g. on EY's page here:
https://www.iasplus.com/en/standards/ifrs/ifrs1
marea
Posts: 49
Joined: 27 Feb 2020, 17:35

Re: IFRS first time adoption

Post by marea »

Thank you!
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