This template addresses, from a Finance Accounting perspective, the significant activities required of companies to prepare ...

This template addresses, from a Finance  Accounting perspective, the significant activities required of companies to prepare their opening balance sheet at the date of transition to IFRS within the context of a conversion from previous Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS).  Many companies are currently undergoing such a conversion due to the EU requirement that companies listed on a European stock exchange must file annual reports containing financial statements prepared in accordance with IFRS for periods beginning on or after 1 January 2005.   IFRS requires companies to provide comparative information which means that the date of transition to IFRS for calendar year end entities is 1/1/2004. On the date of transition companies are required to prepare an opening balance sheet in accordance with IFRS on 1/1/2004.
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