• Service: Audit
  • Type: Regulatory update
  • Date: 9/28/2009

IFRS Handbook: First-time adoption of IFRS 

First time adoption
This publication provides a comprehensive analysis of IFRS 1 First-time Adoption of International Financial Reporting Standards and addresses practical application issues that a first-time adopter of IFRSs could expect to encounter when transitioning to IFRSs.

The publication includes extensive interpretative guidance and illustrative examples to elaborate or clarify the practical application of IFRS 1. The publication is based on standards and interpretations that would be effective, at the time of printing, for a first-time adopter of IFRSs with a first annual IFRS reporting date of 31 December 2010 and a date of transition of 1 January 2009.


Therefore the publication includes, for example, guidance on the revised version of IFRS 3 Business Combinations (2008), amended IAS 27 Consolidated and Separate Financial Statements (2008) and the revised version of IAS 1 Presentation of Financial Statements (2007).


To order a hard copy of this publication please email KPMG ISG.

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