A company is preparing financial statements using IFRS for the first time for the year ended December 31, 2018.The "transition date" for reporting is

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The transition date for reporting using IFRS for the first time is the beginning of the earliest period for which the company presents full comparative information under IFRS. In this case, the company is using IFRS for the first time for the year ended December 31, 2018. Therefore, the beginning of the earliest period for which the company presents full comparative information under IFRS would be January 1, 2018. Therefore, the transition date is January 1, 2018.

A Company Is Preparing Financial Statements Using IFRS for the First