To comply with paragraph 35.12, an entity’s first financial statements prepared using
this FRS shall include:
(a) A description of the nature of each change in accounting policy.
(b) Reconciliations of its equity determined in accordance with its previous financial
reporting framework to its equity determined in accordance with this FRS for both
of the following dates:
(i) the date of transition to this FRS; and
(ii) the end of the latest period presented in the entity’s most recent annual
financial statements determined in accordance with its previous financial
reporting framework.
(c) A reconciliation of the profit or loss determined in accordance with its previous
financial reporting framework for the latest period in the entity’s most recent
annual financial statements to its profit or loss determined in accordance with this
FRS for the same period.