IFRS 1: first-time adoption

Plain-English guides to IFRS 1 first-time adoption, each with a worked example.

IFRS 1 sets out how a company prepares its first IFRS financial statements. 1 guide, all free.

1 guide

IFRS 1 first-time adoption of IFRS5 minute readIFRS 1 first-time adoption explained: the date of transition, the opening IFRS balance sheet, mandatory exceptions, optional exemptions and reconciliations.

About these guides

The guides explain the standard in our own words, with our own examples, and point to the paragraphs they rely on. They are general information, not advice for your situation. Read them alongside the standard itself, and check when your regulator adopts it.