Global Entity adopts IFRS and elects to include only one year of comparative financial information. How many statements of financial position will Global Entity include?

Question

Quizplus · Accepted Answer

Under IFRS, when an entity presents one year of comparative information, it must include three statements of financial position: the end of the current period, the end of the comparative period, and the beginning of the earliest comparative period.

Global Entity Adopts IFRS and Elects to Include Only One