First time adoption comparatives

Question

I know that we need to show the last two years restated balance sheets should be shown in the first IFRS financial statements. Are we required to present last two years data for all the balance sheet notes also? Won't the last two years on the face of the balance sheet suffice?

Answer 1

Last two year data should be given in the notes too. If you have given reference note numbers on the face of the balance sheet, then it is imperative that you present the last years in the notes too. Yes I know it is tough in the first time adoption but you must do so.