CERTYNEX IFRS ACADEMY

At the beginning of the current period, Dresac cannot determine the cumulative effect of its new policy on all prior periods. What does it do?

It stops presenting comparatives for the year of change.

It estimates the cumulative effect from results known today and charges it to equity.

It adjusts comparative information to apply the new policy prospectively from the earliest date practicable.

It keeps the old policy, since the cumulative effect cannot be measured.