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Commission Regulation (EC) No 211/2005 of 4 February
2005 amending Regulation (EC) No 1725/2003 adopting
certain international accounting standards in accordance
with Regulation (EC) No 1606/2002 of the European
Parliament and of the Council as regards International
Financial Reporting Standards (IFRS) 1 and 2 and
International Accounting Standards (IASs) No 12, 16, 19,
32, 33, 38 and 39
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Transitional provisions
53. For
equity-settled share-based payment transactions, the entity
shall apply this IFRS to grants of shares, share options or
other equity instruments that were granted after 7 November
2002 and had not yet vested at the effective date of this
IFRS.
54. The entity is
encouraged, but not required, to apply this IFRS to other
grants of equity instruments if the entity has disclosed
publicly the fair value of those equity instruments,
determined at the measurement date.
55. For all grants
of equity instruments to which this IFRS is applied, the
entity shall restate comparative information and, where
applicable, adjust the opening balance of retained earnings
for the earliest period presented.
56. For all grants
of equity instruments to which this IFRS has not been
applied (eg equity instruments granted on or before 7
November 2002), the entity shall nevertheless disclose the
information required by paragraphs 44 and 45.
57. If, after the
IFRS becomes effective, an entity modifies the terms or
conditions of a grant of equity instruments to which this
IFRS has not been applied, the entity shall nevertheless
apply paragraphs 26–29 to account for any such modifications.
58. For
liabilities arising from share-based payment transactions
existing at the effective date of this IFRS, the entity
shall apply the IFRS retrospectively. For these liabilities,
the entity shall restate comparative information, including
adjusting the opening balance of retained earnings in the
earliest period presented for which comparative information
has been restated, except that the entity is not required to
restate comparative information to the extent that the
information relates to a period or date that is earlier than
7 November 2002.
59. The entity is
encouraged, but not required, to apply retrospectively the
IFRS to other liabilities arising from share-based payment
transactions, for example, to liabilities that were settled
during a period for which comparative information is
presented.
Effective date
60. An entity
shall apply this IFRS for annual periods beginning on or
after 1 January 2005. Earlier application is encouraged. If
an entity applies the IFRS for a period beginning before 1
January 2005, it shall disclose that fact.
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