OpenLegislation

Division A1

United Kingdom

Original text. Later amendments are not shown.

IFRS 1 First-time Adoption of International Financial Reporting Standards is amended as described below.

In paragraph 13, subparagraphs (j) and (k) are amended, and subparagraph (l) inserted, as follows:

  1. (j)

    decommissioning liabilities included in the cost of property, plant and equipment (paragraph 25E);

  2. (k)

    leases (paragraph 25F); and

  3. (l)

    fair value measurement of financial assets or financial liabilities at initial recognition (paragraph 25G).

After paragraph 25F a new heading and paragraph 25G are inserted as follows:

  1. Fair value measurement of financial assets or financial liabilities