vinod saini
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What is Disclosures for IFRS 7 exam?
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Soundray Kumar
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Transfers of Financial Assets (Amendments to IFRS 7), issued in October 2010. An entity shall apply those amendments for annual periods beginning on or after 1 July 2011. Earlier application is permitted. If an entity applies the amendments from an earlier date, it shall disclose that fact. An entity need not provide the disclosures required by those amendments for any period presented that begins before the date of initial application of the amendments.
- An entity shall apply those amendments when it applies IFRS 13.
- Presentation of Items of Other Comprehensive Income (Amendments to IAS 1), issued in June 2011, amended. An entity shall apply that amendment when it applies IAS 1 as amended in June 2011.
- Disclosures—Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7), issued in December 2011, added . An entity shall apply those amendments for annual periods beginning on or after 1 January 2013 and interim periods within those annual periods. An entity shall provide the disclosures required by those amendments retrospectively.
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