Requirements for First-time Adoption of IFRS

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Hosts: From the IFRS Institute and the Financial Reporting Network

Date/Time: April 24, 2013 | 12:00pm ET

Requirements for First-time Adoption of IFRS

 


 

Event Overview

During this webcast, we are pleased to welcome Natalie Lam, head of accounting policies with Tishman Speyer, who will join KPMG professionals to provide participants with a better understanding of the application of IFRS 1, which is applicable when an entity initially adopts IFRS.

This is a standard without any equivalent in U.S. GAAP. IFRS 1 provides the general model as well as exceptions and exemptions that entities apply in the first reporting period when adopting IFRS.

The discussion provides insights into the requirements of IFRS 1 as it relates to selecting options, accounting for elections and managing other issues associated with the initial adoption of IFRS. To help illustrate these topics, practical considerations and examples are discussed throughout the presentation.