Page 1 of 1

IFRS first time adoption

Posted: 03 Aug 2020, 18:44
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?

Re: IFRS first time adoption

Posted: 03 Aug 2020, 21:03
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?

Re: IFRS first time adoption

Posted: 04 Aug 2020, 06:14
by marea
Thank you Marek. I have already found a comparison made by a big 4 co.
The company is a first time adopter.

Re: IFRS first time adoption

Posted: 04 Aug 2020, 09:43
by Marek Muc
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 ;)

Re: IFRS first time adoption

Posted: 04 Aug 2020, 14:18
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. ;)

Re: IFRS first time adoption

Posted: 05 Aug 2020, 09:10
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

Re: IFRS first time adoption

Posted: 05 Aug 2020, 14:31
by marea
Thank you!