CERTYNEX IFRS ACADEMY

Société Vega closes a reporting period beginning on 1 January 2025 and does not early apply any amendment (case facts). It has supplier finance arrangements. Of the 2023 IFRS 7 amendments (supplier finance) and the 2024 ones (classification and measurement), which apply to this period?

Both the 2023 amendments and the 2024 amendments apply, since they were published before the end of the company's reporting period.

The 2023 amendments apply, as they cover periods beginning on or after 1 January 2024; the 2024 ones cover periods beginning on or after 1 January 2026.

The 2024 amendments apply and replace the 2023 ones, since the most recent amendment prevails over the older one.

Neither the 2023 nor the 2024 amendments apply, as long as the entity has not decided to apply them early.