Question

Can a service company adopt NIIF for the first time?

Answer 1

Answer:

no

Explanation:

no one can adopt anything before analysing on it

Answer 2

Explanation:

I hope that help you

IFRS 1 requires an entity that is adopting IFRS Standards for the first time to prepare a complete set of financial statements covering its first IFRS reporting period and the preceding year. The entity uses the same accounting policies throughout all periods presented in its first IFRS financial statements