Appendix A
Effective date and transition
This Appendix is an integral part of IFRIC 22 and has the same authority as the other parts of IFRIC 22.
EFFECTIVE DATE
A1 | An entity shall apply this Interpretation for annual reporting periods beginning on or after 1 January 2018. Earlier application is permitted. If an entity applies this Interpretation for an earlier period, it shall disclose that fact. |
TRANSITION
A2 | On initial application, an entity shall apply this Interpretation either: retrospectively applying IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors; or prospectively to all assets, expenses and income in the scope of the Interpretation initially recognised on or after: the beginning of the reporting period in which the entity first applies the Interpretation; or the beginning of a prior reporting period presented as comparative information in the financial statements of the reporting period in which the entity first applies the Interpretation. |
A3 | An entity that applies paragraph A2(b) shall, on initial application, apply the Interpretation to assets, expenses and income initially recognised on or after the beginning of the reporting period in paragraph A2(b)(i) or (ii) for which the entity has recognised non-monetary assets or non-monetary liabilities arising from advance consideration before that date. |