IF glossary terms

Browse full definitions for every IF term in the Amicus glossary.

Ifrs 1

/ˌaɪˌɛfˌɑːrˈɛs wʌn/

Definitions

  1. (n.) International Financial Reporting Standard 1 concerning the first-time adoption of IFRS.
    Companies applying IFRS 1 must prepare an opening IFRS statement of financial position at the date of transition.

Forms

  • ifrs 1

Related terms

Commentary

IFRS 1 guides entities in transitioning from other accounting frameworks to IFRS, ensuring comparability and consistency in financial statements.

Glossary – IF Terms