commiss regul ec april amend regul ec adopt intern account standard accord regul ec european parliament council commiss european commun regard treati establish european commun regard regul ec european parliament council juli applic intern account standard articl thereof septemb commiss adopt regul ec endors interpret adopt stand interpret committe sic interpret sic time applic iass primari basi account accord interpret intern account standard iass appli full time primari account basi financi statement enterpris prepar present financi statement prepar accord standard interpret forc time applic consequ retrospect applic requir area account order facilit transit intern account standard intern financi report standard ia ifrss intern account standard board iasb decid june replac sic ifr time adopt intern financi report standard accord ifr enterpris appli iass time compli singl ia interpret forc time applic sic ifr requir retrospect applic area account ifr grant limit exempt requir area practic reason cost entail complianc outweigh benefit user financi statement ifr make achiev compar time ifr financi statement time adopt financi statement enterpris adopt ifrss time date current compar figur base set standard exist time time applic ia achiev compar time adopt enterpris appli ifrss secondari object fact number time adopt larg exce eu compani appli ia ifrss consult technic expert field confirm intern financi report standard meet criteria adopt set articl regul ec requir conduc european public good regul ec amend measur provid regul accord opinion account regulatori committe adopt regul articl annex regul ec sic time applic iass primari basi account replac text set annex regul articl regul enter forc dai public offici journal european union regul bind entireti directli applic member state brussel april commiss frederik bolkestein member commiss oj oj annex quot ifr time adopt intern financi report standard intern financi report standard time adopt intern financi report standard ifr set paragraph appendic paragraph equal author paragraph bold type state main principl term defin appendix ital time standard definit term glossari intern financi report standard ifr read context object basi conclus prefac intern financi report standard framework prepar present financi statement provid basi select appli account polici absenc explicit guidanc introduct reason issu ifr ifr replac sic time applic iass primari basi account board develop ifr address concern aspect sic requir full retrospect applic caus cost exceed benefit user financi statement sic requir retrospect applic impractic explain time adopt interpret impractic high hurdl low hurdl treatment case impractic sic requir time adopt appli version standard version introduc period cover financi statement prepar iass version prohibit retrospect applic sic state time adopt hindsight appli recognit measur decis retrospect doubt sic interact specif transit provis individu standard main featur ifr ifr appli entiti adopt ifrss time explicit unreserv statement complianc ifrss gener ifr requir entiti compli ifr effect report date ifr financi statement ifr requir entiti open ifr balanc sheet prepar start point account ifrss recognis asset liabil recognit requir ifrss recognis item asset liabil ifrss permit recognit reclassifi item recognis previou gaap type asset liabil compon equiti type asset liabil compon equiti ifrss appli ifrss measur recognis asset liabil ifr grant limit exempt requir area cost compli exce benefit user financi statement ifr prohibit retrospect applic ifrss area retrospect applic requir judgement manag past condit outcom transact ifr requir disclosur explain transit previou gaap ifrss affect entiti report financi posit financi perform cash flow entiti requir appli ifr ifr financi statement period begin januari earlier applic encourag previou requir sic ifr requir retrospect applic area unlik sic ifr includ target exempt avoid cost exce benefit user financi statement small number except practic reason clarifi entiti appli latest version ifrss clarifi time adopt estim ifrss relat estim made date previou gaap specifi transit provis ifrss appli time adopt requir enhanc disclosur transit ifrss intern financi report standard time adopt intern financi report standard object object ifr ensur entiti ifr financi statement interim financi report part period cover financi statement high qualiti inform transpar user compar period present suitabl start point account intern financi report standard ifrss gener cost exce benefit user scope entiti appli ifr ifr financi statement interim financi report present ia interim financi report part period cover ifr financi statement entiti ifr financi statement annual financi statement entiti adopt ifrss explicit unreserv statement financi statement complianc ifrss financi statement ifrss entiti ifr financi statement entiti present recent previou financi statement nation requir consist ifrss respect ii conform ifrss respect financi statement explicit unreserv statement compli ifrss iii explicit statement complianc ifrss iv nation requir inconsist ifrss individu ifrss account item nation requir exist nation requir reconcili amount amount determin ifrss prepar financi statement ifrss intern make entiti owner extern user prepar report packag ifrss consolid purpos prepar complet set financi statement defin ia present financi statement present financi statement previou period ifr appli entiti adopt ifrss appli entiti stop present financi statement nation requir previous present set financi statement contain explicit unreserv statement complianc ifrss present financi statement previou year nation requir financi statement contain explicit unreserv statement complianc ifrss present financi statement previou year contain explicit unreserv statement complianc ifrss auditor qualifi audit report financi statement ifr appli account polici made entiti appli ifrss subject requir account polici ia net profit loss period fundament error account polici specif transit requir ifrss recognit measur open ifr balanc sheet entiti prepar open ifr balanc sheet date transit ifrss start point account ifrss entiti present open ifr balanc sheet ifr financi statement account polici entiti account polici open ifr balanc sheet period present ifr financi statement account polici compli ifr effect report date ifr financi statement paragraph entiti appli version ifrss effect earlier date entiti appli ifr mandatori permit earli applic consist applic latest version ifrss background report date entiti ifr financi statement decemb entiti decid present compar inform financi statement year paragraph date transit ifrss begin busi januari equival close busi decemb entiti present financi statement previou gaap annual decemb year includ decemb applic requir entiti requir appli ifrss effect period end decemb prepar open ifr balanc sheet januari prepar present balanc sheet decemb includ compar amount incom statement statement equiti cash flow statement year decemb includ compar amount disclosur includ compar inform ifr mandatori permit earli applic entiti permit requir appli ifr ifr financi statement transit provis ifrss appli account polici made entiti ifrss appli time adopt transit ifrss paragraph paragraph entiti open ifr balanc sheet recognis asset liabil recognit requir ifrss recognis item asset liabil ifrss permit recognit reclassifi item recognis previou gaap type asset liabil compon equiti type asset liabil compon equiti ifrss appli ifrss measur recognis asset liabil account polici entiti open ifr balanc sheet differ date previou gaap result adjust aris event transact date transit ifrss entiti recognis adjust directli retain earn categori equiti date transit ifrss ifr establish categori except principl entiti open ifr balanc sheet compli ifr paragraph grant exempt requir ifrss paragraph prohibit retrospect applic aspect ifrss exempt ifrss entiti elect exempt busi combin paragraph fair revalu deem cost paragraph employe benefit paragraph cumul translat differ paragraph compound financi instrument paragraph asset liabil subsidiari associ joint ventur paragraph entiti appli exempt analog item exempt refer fair ia busi combin explain determin fair valu identifi asset liabil acquir busi combin entiti appli explan determin fair valu ifr ifr specif guidanc determin fair valu asset liabil question fair valu reflect condit exist date determin busi combin entiti appli requir appendix busi combin entiti recognis date transit ifrss fair revalu deem cost entiti elect measur item properti plant equip date transit ifrss fair fair deem cost date time adopt elect previou gaap revalu item properti plant equip date transit ifrss deem cost date revalu revalu date revalu broadli compar fair cost depreci cost ifrss adjust reflect gener specif price index elect paragraph invest properti entiti elect cost model ia invest properti intang asset meet recognit criteria ia intang asset includ reliabl measur origin cost ii criteria ia revalu includ exist activ market entiti elect asset liabil time adopt establish deem cost previou gaap asset liabil measur fair date event privatis initi public offer event driven fair measur deem cost ifrss date measur employe benefit ia employe benefit entiti elect corridor approach leav actuari gain loss unrecognis retrospect applic approach requir entiti split cumul actuari gain loss incept plan date transit ifrss recognis portion unrecognis portion time adopt elect recognis cumul actuari gain loss date transit ifrss corridor approach actuari gain loss time adopt elect appli plan cumul translat differ ia effect foreign exchang rate requir entiti classifi translat differ separ compon equiti dispos foreign oper transfer cumul translat differ foreign oper includ applic gain loss relat hedg incom statement part gain loss dispos time adopt compli requir cumul translat differ exist date transit ifrss time adopt exempt cumul translat differ foreign oper deem date transit ifrss gain loss subsequ dispos foreign oper exclud translat differ aros date transit ifrss includ translat differ compound financi instrument ia financi instrument disclosur present requir entiti split compound financi instrument incept separ liabil equiti compon liabil compon longer outstand retrospect applic ia involv separ portion equiti portion retain earn repres cumul interest accret liabil compon portion repres origin equiti compon ifr time adopt separ portion liabil compon longer outstand date transit ifrss asset liabil subsidiari associ joint ventur subsidiari time adopt parent subsidiari separ financi statement measur asset liabil carri amount includ parent consolid financi statement base parent date transit ifrss adjust made consolid procedur effect busi combin parent acquir subsidiari carri amount requir rest ifr base subsidiari date transit ifrss carri amount differ exempt ifr result measur depend date transit ifrss ii account polici subsidiari financi statement differ consolid financi statement subsidiari benchmark treatment ia properti plant equip group allow altern treatment similar elect associ joint ventur time adopt entiti signific influenc joint control entiti time adopt subsidiari associ joint ventur entiti consolid financi statement measur asset liabil subsidiari associ joint ventur carri amount separ financi statement subsidiari associ joint ventur adjust consolid equiti account adjust effect busi combin entiti acquir subsidiari similarli parent time adopt separ financi statement earlier consolid financi statement measur asset liabil amount financi statement consolid adjust except retrospect applic ifrss ifr prohibit retrospect applic aspect ifrss relat derecognit financi asset financi liabil paragraph hedg account paragraph estim paragraph derecognit financi asset financi liabil time adopt appli derecognit requir ia financi instrument recognit measur prospect effect date ia word time adopt derecognis financi asset financi liabil previou gaap financi year begin januari recognis asset liabil ifrss qualifi recognit result transact event time adopt recognis deriv interest servic right servic liabil retain derecognit transact exist date transit ifrss consolid special purpos entiti spe control date transit ifrss spe exist date transit ifrss hold financi asset financi liabil derecognis previou gaap hedg account requir ia financi instrument recognit measur date transit ifrss entiti measur deriv fair elimin defer loss gain aris deriv report previou gaap asset liabil entiti reflect open ifr balanc sheet hedg relationship type qualifi hedg account ia hedg relationship hedg instrument cash instrument written option hedg item net posit hedg cover interest risk held matur invest entiti design net posit hedg item previou gaap design individu item net posit hedg item ifrss provid date transit ifrss entiti appli transit provis ia hedg relationship exist date transit ifrss estim entiti estim ifrss date transit ifrss consist estim made date previou gaap adjust reflect differ account polici object evid estim error entiti receiv inform date transit ifrss estim made previou gaap paragraph entiti treat receipt inform adjust event balanc sheet date ia event balanc sheet date assum entiti date transit ifrss januari inform juli requir revis estim made previou gaap decemb entiti reflect inform open ifr balanc sheet estim adjust differ account polici object evid estim error entiti reflect inform incom statement equiti year end decemb entiti make estim ifrss date transit ifrss requir date previou gaap achiev consist ia estim ifrss reflect condit exist date transit ifrss estim date transit ifrss market price interest rate foreign exchang rate reflect market condit date paragraph appli open ifr balanc sheet appli compar period present entiti ifr financi statement case refer date transit ifrss replac refer end compar period present disclosur ifr provid exempt present disclosur requir ifrss compar inform compli ia present financi statement entiti ifr financi statement includ year compar inform ifrss entiti present histor summari select data period period present full compar inform ifrss ifr requir summari compli recognit measur requir ifrss entiti present compar inform previou gaap compar inform requir ia financi statement histor summari compar inform previou gaap entiti label previou gaap inform promin prepar ifrss disclos natur main adjust make compli ifrss entiti quantifi adjust explan transit ifrss entiti explain transit previou gaap ifrss affect report financi posit financi perform cash flow reconcili compli paragraph entiti ifr financi statement includ reconcili equiti report previou gaap equiti ifrss date date transit ifrss ii end latest period present entiti recent annual financi statement previou gaap reconcili profit loss report previou gaap latest period entiti recent annual financi statement profit loss ifrss period entiti recognis revers impair loss time prepar open ifr balanc sheet disclosur ia impair asset requir entiti recognis impair loss revers period begin date transit ifrss reconcili requir paragraph give suffici detail enabl user understand materi adjust balanc sheet incom statement entiti present cash flow statement previou gaap explain materi adjust cash flow statement entiti awar error made previou gaap reconcili requir paragraph distinguish correct error account polici ia net profit loss period fundament error account polici deal account polici occur entiti adopt ifrss ia requir disclosur account polici appli entiti ifr financi statement entiti present financi statement previou period ifr financi statement disclos fact fair deem cost entiti fair open ifr balanc sheet deem cost item properti plant equip invest properti intang asset paragraph entiti ifr financi statement disclos line item open ifr balanc sheet aggreg fair valu aggreg adjust carri amount report previou gaap interim financi report compli paragraph entiti present interim financi report ia interim financi report part period cover ifr financi statement entiti satisfi requir addit requir ia interim financi report entiti present interim financi report compar interim period immedi preced financi year includ reconcili equiti previou gaap end compar interim period equiti ifrss date ii profit loss previou gaap compar interim period current year date profit loss ifrss period addit reconcili requir entiti interim financi report ia part period cover ifr financi statement includ reconcili paragraph supplement detail requir paragraph cross refer publish document includ reconcili ia requir minimum disclosur base assumpt user interim financi report access recent annual financi statement ia requir entiti disclos event transact materi understand current interim period time adopt recent annual financi statement previou gaap disclos inform materi understand current interim period interim financi report disclos inform includ cross refer publish document includ effect date entiti appli ifr ifr financi statement period begin januari earlier applic encourag entiti ifr financi statement period begin januari entiti appli ifr sic time applic iass primari basi account disclos fact appendix defin term appendix integr part ifr gt tabl gt appendix busi combin appendix integr part ifr time adopt elect appli ia busi combin retrospect past busi combin busi combin occur date transit ifrss time adopt restat busi combin compli ia restat busi combin time adopt elect restat busi combin occur june restat busi combin occur june date transit ifrss time adopt appli ia retrospect past busi combin consequ busi combin time adopt classif acquisit legal acquir revers acquisit legal acquire unit interest previou gaap financi statement time adopt recognis asset liabil date transit ifrss acquir assum past busi combin financi asset financi liabil derecognis previou gaap paragraph ii asset includ goodwil liabil recognis acquir consolid balanc sheet previou gaap qualifi recognit ifrss separ balanc sheet acquire paragraph time adopt recognis result chang adjust retain earn categori equiti chang result recognit intang asset previous subsum goodwil paragraph time adopt exclud open ifr balanc sheet item recognis previou gaap qualifi recognit asset liabil ifrss time adopt account result chang time adopt classifi past busi combin acquisit recognis intang asset item qualifi recognit asset ia intang asset reclassifi item relat defer tax minor interest part goodwil deduct goodwil directli equiti previou gaap paragraph ii time adopt recognis result retain earn ifrss requir subsequ measur asset liabil basi base origin cost fair time adopt measur asset liabil basi open ifr balanc sheet acquir assum past busi combin recognis result chang carri amount adjust retain earn categori equiti goodwil immedi busi combin carri amount previou gaap asset acquir liabil assum busi combin deem cost ifrss date ifrss requir cost base measur asset liabil date deem cost basi cost base depreci amortis date busi combin asset acquir liabil assum past busi combin recognis previou gaap deem cost open ifr balanc sheet acquir recognis measur consolid balanc sheet basi ifrss requir separ balanc sheet acquire illustr acquir previou gaap capitalis financ leas acquir past busi combin capitalis leas consolid financi statement ia leas requir acquire separ ifr balanc sheet convers asset liabil subsum goodwil previou gaap recognis separ ia asset liabil remain goodwil ifrss requir recognit separ financi statement acquire carri amount goodwil open ifr balanc sheet carri amount previou gaap date transit ifrss adjust requir paragraph time adopt increas carri amount goodwil reclassifi item recognis intang asset previou gaap similarli paragraph requir time adopt recognis intang asset subsum recognis goodwil previou gaap time adopt decreas carri amount goodwil applic adjust defer tax minor interest ii conting affect amount purchas consider past busi combin resolv date transit ifrss reliabl estim conting adjust made payment probabl time adopt adjust goodwil amount similarli time adopt adjust carri amount goodwil previous recognis conting adjust longer measur reliabl payment longer probabl iii indic goodwil impair time adopt appli ia impair asset test goodwil impair date transit ifrss recognis result impair loss retain earn requir ia revalu surplu impair test base condit date transit ifrss adjust made carri amount goodwil date transit ifrss time adopt restat carri amount goodwil exclud process research develop acquir busi combin relat intang asset qualifi recognit ia separ balanc sheet acquire ii adjust previou amortis goodwil iii revers adjust goodwil ia permit made previou gaap adjust asset liabil date busi combin date transit ifrss time adopt recognis goodwil previou gaap deduct equiti recognis goodwil open ifr balanc sheet transfer goodwil incom statement dispos subsidiari invest subsidiari impair ii adjust result subsequ resolut conting affect purchas consider recognis retain earn previou gaap time adopt consolid subsidiari acquir past busi combin parent regard subsidiari previou gaap prepar consolid financi statement time adopt adjust carri amount subsidiari asset liabil amount ifrss requir subsidiari separ balanc sheet deem cost goodwil equal differ date transit ifrss parent interest adjust carri amount ii cost parent separ financi statement invest subsidiari measur minor interest defer tax measur asset liabil adjust recognis asset liabil affect minor interest defer tax exempt past busi combin appli past acquisit invest associ interest joint ventur date select paragraph appli equal acquisit includ reclassif intang asset goodwil recognis previou gaap asset aris previou gaap entiti deduct goodwil directli equiti treat busi combin acquisit appendix amend ifrss amend appendix effect annual financi statement cover period begin januari entiti appli ifr earlier period amend effect earlier period ifr supersed sic time applic iass primari basi account ifr amend paragraph ia financi instrument recognit measur read quot securitis transfer derecognit transact enter prior begin financi year standard initi appli account transact retrospect chang conform requir standard exempt transferor requir recognis deriv interest servic right servic liabil retain transact qualifi recognit standard ifrss ii consolid special purpos entiti control transferor sic consolid special purpos entiti quot quot