IFRS 13Chapter 14Lesson 1
Effective date and transition
Step 1 of 6Learning objectives
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IFRS 13 applies to annual periods beginning on or after 1 January 2013, with early application permitted subject to stating that fact. On first application the standard applies prospectively and disclosures are not required for earlier comparative periods.
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Learning objectives
- Identify the effective date and the possibility of early application.
- Explain prospective application and the exemption from comparative disclosures on first application.