at fair value in its opening ifrs statement of financial position the resulting adju 611085

Items not measured at original cost

Entity A acquired in a business combination a trading portfolio of equity securities and a number of investment properties. Under its previous GAAP, Entity A initially measured these assets at cost (i.e. their fair value at the date of acquisition).

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at fair value in its opening ifrs statement of financial position the resulting adju 611085
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Upon adoption of IFRSs, Entity A measures the trading portfolio of equity securities and the investment properties (under the IAS 40 – Investment Property – fair value model) at fair value in its opening IFRS statement of financial position. The resulting adjustment to these assets at the date of transition is reflected in retained earnings.

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