IFRS Taxonomy 2020 – 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
	Cash flow hedge 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

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XBRL attributes

IFRS Taxonomy 2020 – Illustrative examples

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