IFRS Foundation
example6 2003-12-31 example6 2003-12-31 ifrs:PreviousGAAPMember example6 2003-12-31 ifrs:EffectOfTransitionToIFRSsMember example6 2004-01-01 2004-12-31 example6 2004-01-01 2004-12-31 ifrs:PreviousGAAPMember example6 2004-01-01 2004-12-31 ifrs:EffectOfTransitionToIFRSsMember iso4217:EUR

IFRS Taxonomy 2013 – Illustrative examples

First-time adoption of IFRSs, reconciliation of equity and total comprehensive income

Examples from IFRS 1 (IG63) representing some of the disclosures required by IFRS 1 for reconciliation of equity and total comprehensive income in case of first-time adoption of IFRSs using detailed XBRL tagging.

               

Reconciliation of equity and total comprehensive income

Reconciliation of equity at 1 January 20X4 (date of transition to IFRSs)

Previous GAAP
CU

Effect of transition to IFRSs CU

IFRSs
CU

Property, plant and equipment

8,299

100

8,399

Goodwill

1,220

150

1,370

Intangible assets

208

( 150)

58

Financial assets

3,471

420

3,891

Total non-current assets

13,198

520

13,718

Trade and other receivables

3,710

0

3,710

Inventories

2,962

400

3,362

Other receivables

333

431

764

Cash and cash equivalents

748

0

748

Total current assets

7,753

831

8,584

Total assets

20,951

1,351

22,302

Interest-bearing loans

9,396

0

9,396

Trade and other payables

4,124

0

4,124

Employee benefits

0

66

66

Restructuring provision

250

( 250)

0

Current tax liability

42

0

42

Deferred tax liability

579

460

1,039

Total liabilities

14,391

276

14,667

Total assets less total liabilities

6,560

1,075

7,635

Issued capital

1,500

0

1,500

Hedging reserve

0

302

302

Retained earnings

5,060

773

5,833

Total equity

6,560

1,075

7,635

Reconciliation of total comprehensive income for 20X4

Note

Previous GAAP
CU

Effect of transition to IFRSs CU

IFRSs
CU

Revenue

20,910

0

20,910

Cost of sales

( 15,283)

( 97)

( 15,380)

Gross profit

5,627

( 97)

5,530

Other income

0

180

180

Distribution costs

( 1,907)

( 30)

( 1,937)

Administrative expenses

( 2,842)

( 300)

( 3,142)

Finance income

1,446

0

1,446

Finance costs

( 1,902)

0

( 1,902)

Profit before tax

422

( 247)

175

Tax expense

( 158)

74

( 84)

Profit (loss) for the year

264

( 173)

91

Cash flow hedges

0

( 40)

( 40)

Tax relating to other comprehensive income

0

( 29)

( 29)

Other comprehensive income

0

( 69)

( 69)

Total comprehensive income

264

( 242)

22


Copyright © 2013 IFRS Foundation

All rights reserved. Permission granted to reproduce for personal and educational use only. Otherwise, no part of this webpage may be translated, reprinted or reproduced or utilised in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or in any information storage and retrieval system, without prior permission in writing from the IFRS Foundation.