Welcome to the IFRS 1 First-time Adoption of International Financial Reporting Standards e-learning module

This module covers the background, scope, definitions and principles under IFRS 1 First-time Adoption of International Financial Reporting Standards and the application of this Standard. By completion of this module, you will be able to:

  • Determine whether an entity meets the requirements to be a first-time adopter of IFRSs.
  • Describe the optional exemptions relating to business combinations that are available to a first-time adopter of IFRSs.
  • Describe the other optional exemptions that are available to a first-time adopter of IFRSs.
  • Describe the mandatory exceptions from retrospectively applying IFRSs for a first-time adopter.
  • Identify the specific disclosures required of an entity preparing its first IFRS financial statements.

The duration of this module is about 3 hours and there is an assessment at the end of the module to test your knowledge.

Please click Download button to download the module.

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