WALMART whose financial reporting is prepared using IFRS? Be sure that Walmart
files a form 20-F in addition to the normal SEC-required financial statements. The SEC Form 20-F
must be submitted by all “foreign private issuers” with listed equity shares on exchanges in the
United States.
files a form 20-F in addition to the normal SEC-required financial statements. The SEC Form 20-F
must be submitted by all “foreign private issuers” with listed equity shares on exchanges in the
United States.
2) Transition to IFRS (20-F) – Determine the year in which the company transitioned to IFRS
by referring to the accounting policies note in the financial statements (usually the first
note). An overview of IFRS adoption should be mentioned. Based on that information,
answer the following:
i. What was the first year the company adopted IFRS?
ii. What was the date of transition, as defined in IFRS 1?
iii. What was the previous GAAP that the company used before IFRS?
iv. What exemptions did they utilize?
v. Were there any special IFRS considerations?
