Search Legislation

Advanced Search

Commission Regulation (EC) No 1136/2009Show full title

Commission Regulation (EC) No 1136/2009 of 25 November 2009 amending Regulation (EC) No 1126/2008 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 Standard (IFRS) 1 (Text with EEA relevance) (revoked)

Help about what version

What Version

Close

This is a legislation item that originated from the EU

After exit day there will be three versions of this legislation to consult for different purposes. The legislation.gov.uk version is the version that applies in the UK. The EU Version currently on EUR-lex is the version that currently applies in the EU i.e you may need this if you operate a business in the EU.

The web archive version is the official version of this legislation item as it stood on exit day before being published to legislation.gov.uk and any subsequent UK changes and effects applied. The web archive also captured associated case law and other language formats from EUR-Lex.

Changes to legislation:

There are currently no known outstanding effects for the Commission Regulation (EC) No 1136/2009. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

  1. Introductory Text

  2. Article 1.In the Annex to Regulation (EC) No 1126/2008, International Financial...

  3. Article 2.Each company shall apply IFRS 1, as set out in...

  4. Article 3.This Regulation shall enter into force on the third day...

  5. Signature

    1. ANNEX

      2. INTERNATIONAL FINANCIAL REPORTING STANDARD 1 First-time Adoption of International Financial Reporting Standards

        1. OBJECTIVE

          1. 1 The objective of this IFRS is to ensure that an...

        2. SCOPE

          1. 2 An entity shall apply this IFRS in:

          2. 3 An entity’s first IFRS financial statements are the first annual...

          3. 4 This IFRS applies when an entity first adopts IFRSs. It...

          4. 5 This IFRS does not apply to changes in accounting policies...

        3. RECOGNITION AND MEASUREMENT

          1. Opening IFRS statement of financial position

            1. 6 An entity shall prepare and present an opening IFRS statement...

          2. Accounting policies

            1. 7 An entity shall use the same accounting policies in its...

            2. 8 An entity shall not apply different versions of IFRSs that...

              1. Example: Consistent application of latest version of IFRSs

                1. Background

                2. Application of requirements

            3. 9 The transitional provisions in other IFRSs apply to changes in...

            4. 10 Except as described in paragraphs 13–19 and Appendices B–E, an...

            5. 11 The accounting policies that an entity uses in its opening...

            6. 12 This IFRS establishes two categories of exceptions to the principle...

          3. Exceptions to the retrospective application of other IFRSs

            1. 13 This IFRS prohibits retrospective application of some aspects of other...

            2. Estimates

              1. 14 An entity’s estimates in accordance with IFRSs at the date...

              2. 15 An entity may receive information after the date of transition...

              3. 16 An entity may need to make estimates in accordance with...

              4. 17 Paragraphs 14–16 apply to the opening IFRS statement of financial...

          4. Exemptions from other IFRSs

            1. 18 An entity may elect to use one or more of...

            2. 19 Some exemptions in Appendices C–E refer to fair value. In...

        4. PRESENTATION AND DISCLOSURE

          1. 20 This IFRS does not provide exemptions from the presentation and...

          2. Comparative information

            1. 21 To comply with IAS 1, an entity’s first IFRS financial...

            2. Non-IFRS comparative information and historical summaries

              1. 22 Some entities present historical summaries of selected data for periods...

          3. Explanation of transition to IFRSs

            1. 23 An entity shall explain how the transition from previous GAAP...

            2. Reconciliations

              1. 24 To comply with paragraph 23, an entity’s first IFRS financial...

              2. 25 The reconciliations required by paragraph 24(a) and (b) shall give...

              3. 26 If an entity becomes aware of errors made under previous...

              4. 27 IAS 8 does not deal with changes in accounting policies...

              5. 28 If an entity did not present financial statements for previous...

            3. Designation of financial assets or financial liabilities

              1. 29 An entity is permitted to designate a previously recognised financial...

            4. Use of fair value as deemed cost

              1. 30 If an entity uses fair value in its opening IFRS...

            5. Use of deemed cost for investments in subsidiaries, jointly controlled...

              1. 31 Similarly, if an entity uses a deemed cost in its...

            6. Interim financial reports

              1. 32 To comply with paragraph 23, if an entity presents an...

              2. 33 IAS 34 requires minimum disclosures, which are based on the...

        5. EFFECTIVE DATE

          1. 34 An entity shall apply this IFRS if its first IFRS...

          2. 35 An entity shall apply the amendments in paragraphs D1(n) and...

          3. 36 IFRS 3 Business Combinations (as revised in 2008) amended paragraphs...

          4. 37 IAS 27 Consolidated and Separate Financial Statements (as amended in...

          5. 38 Cost of an Investment in a Subsidiary, Jointly Controlled Entity...

          6. 39 Paragraph B7 was amended by Improvements to IFRSs issued in...

        6. WITHDRAWAL OF IFRS 1 (ISSUED 2003)

          1. 40 This IFRS supersedes IFRS 1 (issued in 2003 and amended...

      3. Appendix A

        Defined terms

        1. This appendix is an integral part of the IFRS.

        2. date of transition to IFRSs The beginning of the earliest...

      4. Appendix B

        Exceptions to the retrospective application of other IFRSs

        1. This appendix is an integral part of the IFRS.

        2. B1 An entity shall apply the following exceptions:

        3. Derecognition of financial assets and financial liabilities

          1. B2 Except as permitted by paragraph B3, a first-time adopter shall...

          2. B3 Notwithstanding paragraph B2, an entity may apply the derecognition requirements...

        4. Hedge accounting

          1. B4 As required by IAS 39, at the date of transition...

          2. B5 An entity shall not reflect in its opening IFRS statement...

          3. B6 If, before the date of transition to IFRSs, an entity...

        5. Non-controlling interests

          1. B7 A first-time adopter shall apply the following requirements of IAS...

      5. Appendix C

        Exemptions for business combinations

        1. This appendix is an integral part of the IFRS. An...

        2. C1 A first-time adopter may elect not to apply IFRS 3...

        3. C2 An entity need not apply IAS 21 The Effects of...

        4. C3 An entity may apply IAS 21 retrospectively to fair value...

        5. C4 If a first-time adopter does not apply IFRS 3 retrospectively...

        6. C5 The exemption for past business combinations also applies to past...

      6. Appendix D

        Exemptions from other IFRSs

        1. This appendix is an integral part of the IFRS.

        2. D1 An entity may elect to use one or more of...

        3. Share-based payment transactions

          1. D2 A first-time adopter is encouraged, but not required, to apply...

          2. D3 A first-time adopter is encouraged, but not required, to apply...

        4. Insurance contracts

          1. D4 A first-time adopter may apply the transitional provisions in IFRS...

        5. Fair value or revaluation as deemed cost

          1. D5 An entity may elect to measure an item of property,...

          2. D6 A first-time adopter may elect to use a previous GAAP...

          3. D7 The elections in paragraphs D5 and D6 are also available...

          4. D8 A first-time adopter may have established a deemed cost in...

        6. Leases

          1. D9 A first-time adopter may apply the transitional provisions in IFRIC...

        7. Employee benefits

          1. D10 In accordance with IAS 19 Employee Benefits, an entity may...

          2. D11 An entity may disclose the amounts required by paragraph 120A(p)...

        8. Cumulative translation differences

          1. D12 IAS 21 requires an entity:

          2. D13 However, a first-time adopter need not comply with these requirements...

        9. Investments in subsidiaries, jointly controlled entities and associates

          1. D14 When an entity prepares separate financial statements, IAS 27 (as...

          2. D15 If a first-time adopter measures such an investment at cost...

        10. Assets and liabilities of subsidiaries, associates and joint ventures

          1. D16 If a subsidiary becomes a first-time adopter later than its...

          2. D17 However, if an entity becomes a first-time adopter later than...

        11. Compound financial instruments

          1. D18 IAS 32 Financial Instruments: Presentation requires an entity to split...

        12. Designation of previously recognised financial instruments

          1. D19 IAS 39 permits a financial asset to be designated on...

        13. Fair value measurement of financial assets or financial liabilities at...

          1. D20 Notwithstanding the requirements of paragraphs 7 and 9, an entity...

        14. Decommissioning liabilities included in the cost of property, plant and...

          1. D21 IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities...

        15. Financial assets or intangible assets accounted for in accordance with...

          1. D22 A first-time adopter may apply the transitional provisions in IFRIC...

        16. Borrowing costs

          1. D23 A first-time adopter may apply the transitional provisions set out...

      7. Appendix E

        Short-term exemptions from IFRSs

        1. This appendix is an integral part of the IFRS.

        2. [Appendix reserved for future possible short-term exemptions].

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As adopted by EU): The original version of the legislation as it stood when it was first adopted in the EU. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as adopted version that was used for the EU Official Journal
  • lists of changes made by and/or affecting this legislation item
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different versions taken from EUR-Lex before exit day and during the implementation period as well as any subsequent versions created after the implementation period as a result of changes made by UK legislation.

The dates for the EU versions are taken from the document dates on EUR-Lex and may not always coincide with when the changes came into force for the document.

For any versions created after the implementation period as a result of changes made by UK legislation the date will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. For further information see our guide to revised legislation on Understanding Legislation.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as adopted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources