BC271C Annual Improvements to IFRSs 2012-2014 Cycle, issued in September 2014, amended paragraph 83. The Board noted that for some entities a full retrospective application of the amendment could be burdensome. Consequently, the Board decided that the amendment should be applied from the beginning of the earliest comparative period presented in the first financial statements in which an entity applies the amendment. Any initial adjustment arising from the application of the amendment should be recognised in opening retained earnings of the earliest comparative period presented.