2.19 EXEMPTIONS FROM OTHER IFRSS
2.19.1 Share-Based Payment Transactions
18.104.22.168 Exemption Explained
IFRS 1 permits some relief from IFRS 2 based on date of grant and date of vesting of share-based instruments.582 Exhibit 2-23 illustrates this exemption.
Exhibit 2-23 Share-Based Payment Transaction Exemption under IFRS 1
The exemption refers to January 1, 2005, because this was the beginning date and the date after which IFRS 2 applied to annual financial statements. It also refers to November 7, 2002, because this is the start date of the look-back period under certain conditions set in the transitional provision of IFRS 2.583
As a matter of fact, the IFRS 1 exemption reproduces the transitional provisions of IFRS 2 to IFRS first-time adopters. IFRS 1 explains that the rationale of the exemption is to treat IFRS first-time adopters in the same way as entities already reporting under IFRSs.
A European survey indicates that all 2005 first-time adopters used this exemption, when available.584 A 2005 survey of 45 IFRS first-time adopters illustrates that approximately 58% used this exemption.585 A survey of interim reports of 144 listed companies in FTSE 101-350 in 2005 converting from UK GAAP to IFRSs reveals that 76% availed themselves of this exemption.586
22.214.171.124 Implications for Accounting Estimates
Paragraph 2.11.14 previously explains the implications on ...