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What the opening pfrs statement of financial position be

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Problem 1: An entity is a first time adopter of PFRS. The most recent financial statements it presented under previous GAAP were on December 31, 2020. The entity adopted PFRS for the first time and intended to present the first PFRS financial statements on December 31, 2021. The entity plans to present a two-year comparative information for years 2020 and 2019. The opening PFRS statement of financial position should be prepared on?

a. January 1, 2020

b. January 1, 2020

c. January 1, 2019

d. January 1, 2021

Reference no: EM132776741

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