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    Pas & PFRS

    Uploaded by

    Vinace Mae Paras
    This document lists the Philippine Financial Reporting Standards (PFRS) and Philippine Accounting Standards (PAS) effective as of January 1, 2022. It provides the title, effective date, and key details of standards such as PFRS 1 on first-time adoption, PFRS 2 on share-based payments, PAS 19 on employee benefits, and more. The list summarizes all accounting standards that entities in the Philippines must comply with for financial reporting.

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    Pas & PFRS

    Uploaded by

    Vinace Mae Paras
    244 views6 pages
    This document lists the Philippine Financial Reporting Standards (PFRS) and Philippine Accounting Standards (PAS) effective as of January 1, 2022. It provides the title, effective date, and key details of standards such as PFRS 1 on first-time adoption, PFRS 2 on share-based payments, PAS 19 on employee benefits, and more. The list summarizes all accounting standards that entities in the Philippines must comply with for financial reporting.

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    Summary

    Original Title

    PAS & PFRS

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    This document lists the Philippine Financial Reporting Standards (PFRS) and Philippine Accounting Standards (PAS) effective as of January 1, 2022. It provides the title, effective date, and key details of standards such as PFRS 1 on first-time adoption, PFRS 2 on share-based payments, PAS 19 on employee benefits, and more. The list summarizes all accounting standards that entities in the Philippines must comply with for financial reporting.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    244 views6 pages

    Pas & PFRS

    Uploaded by

    Vinace Mae Paras
    This document lists the Philippine Financial Reporting Standards (PFRS) and Philippine Accounting Standards (PAS) effective as of January 1, 2022. It provides the title, effective date, and key details of standards such as PFRS 1 on first-time adoption, PFRS 2 on share-based payments, PAS 19 on employee benefits, and more. The list summarizes all accounting standards that entities in the Philippines must comply with for financial reporting.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 6

    Effecti

    ve
    PFRS

    PFRS 1

    Title

    Date

    First-time Adoption of Philippine Financial Reporting

    01/01/

    Standards[superseded by PFRS 1 (Revised)]

    05

    Amendments to PFRS 1 and PAS 27: Cost of an


    Investment in a Subsidiary, Jointly Controlled Entity or
    Associate
    PFRS 1

    First-time Adoption of Philippine Financial Reporting

    (Revised)

    Standards
    Amendments to PFRS 1: Additional Exemptions for
    First-time Adopters
    Amendment to PFRS 1: Limited Exemption from
    Comparative PFRS 7 Disclosures for First-time Adopters
    Amendments to PFRS 1: Severe Hyperinflation and
    Removal of Fixed Date for First-time Adopters

    01/01/
    09
    07/01/
    09
    01/01/
    10
    07/01/
    10
    07/01/
    11
    01/01/

    Amendments to PFRS 1: Government Loans

    13*
    01/01/

    PFRS 2

    Share-based Payment
    Amendments to PFRS 2: Vesting Conditions and
    Cancellations
    Amendments to PFRS 2: Group Cash-settled Sharebased Payment Transactions
    Business Combinations [superseded by PFRS 3

    PFRS 3

    (Revised)]

    PFRS 3
    (Revised)

    05
    01/01/
    09
    01/01/
    10
    01/01/
    05
    07/01/

    Business Combinations

    09
    01/01/

    PFRS 4

    Insurance Contracts
    Amendments to PAS 39 and PFRS 4: Financial

    05
    01/01/

    Guarantee Contracts
    Non-current Assets Held for Sale and Discontinued
    PFRS 5

    Operations

    06
    01/01/
    05
    01/01/

    PFRS 6

    Exploration for and Evaluation of Mineral Resources

    06
    01/01/

    PFRS 7

    Financial Instruments: Disclosures

    07
    01/01/

    Amendments to PFRS 7: Transition


    Amendments to PAS 39 and PFRS 7: Reclassification of
    Financial Assets
    Amendments to PAS 39 and PFRS 7: Reclassification of
    Financial Assets Effective Date and Transition
    Amendments to PFRS 7: Improving Disclosures about
    Financial Instruments
    Amendments to PFRS 7: Disclosures Transfers of
    Financial Assets
    Amendments to PFRS 7: Disclosures Offsetting
    Financial Assets and Financial Liabilities
    Amendments to PFRS 9 and PFRS 7: Mandatory
    Effective Date of PFRS 9 and Transition Disclosures

    07
    07/01/
    08
    07/01/
    08
    01/01/
    09
    07/01/
    11
    01/01/
    13*
    01/01/
    15*
    01/01/

    PFRS 8

    Operating Segments

    09
    01/01/

    PFRS 9

    Financial Instruments
    Amendments to PFRS 9 and PFRS 7: Mandatory
    Effective Date of PFRS 9 and Transition Disclosures

    15
    01/01/
    15*
    01/01/

    PFRS 10

    Consolidated Financial Statements

    13*
    01/01/

    PFRS 11

    Joint Arrangements

    13*

    01/01/
    PFRS 12

    Disclosure of Interests in Other Entities

    PFRS 13

    Fair Value Measurement

    PAS
    Title

    13*

    Effective
    Date

    Presentation of Financial Statements [superseded by


    PAS 1

    PAS 1 (Revised)]

    01/01/05

    Amendment to PAS 1: Capital Disclosures

    01/01/07

    Presentation of Financial Statements

    01/01/09

    PAS 1
    (Revised)

    Amendments to PAS 32 and PAS 1: Puttable Financial


    Instruments and Obligations Arising on Liquidation

    01/01/09

    Amendments to PAS 1: Presentation of Items of Other


    Comprehensive Income

    07/01/12*

    PAS 2

    Inventories

    01/01/05

    PAS 7

    Cash Flow Statements

    01/01/05

    Accounting Policies, Changes in Accounting Estimates


    PAS 8

    and Errors

    01/01/05

    PAS 10

    Events after the Balance Sheet Date

    01/01/05

    PAS 11

    Construction Contracts

    01/01/05

    PAS 12

    Income Taxes

    01/01/05

    Amendments to PAS 12 Deferred Tax: Recovery of


    Underlying Assets

    01/01/12

    PAS 14

    Segment Reporting [superseded by PFRS 8]

    01/01/05

    PAS 16

    Property, Plant and Equipment

    01/01/05

    PAS 17

    Leases

    01/01/05

    PAS 18

    Revenue

    01/01/05

    PAS 19

    Employee Benefits

    01/01/05

    Amendments to PAS 19: Actuarial Gains and Losses,


    Group Plans and Disclosures

    01/01/06

    Employee Benefits

    01/01/13*

    PAS 19
    (Amended)

    Accounting for Government Grants and Disclosure of


    PAS 20

    Government Assistance

    01/01/05

    PAS 21

    The Effects of Changes in Foreign Exchange Rates

    01/01/05

    Amendment: Net Investment in a Foreign Operation

    01/01/06

    Borrowing Costs [superseded by PAS 23 (Revised)]

    01/01/05

    Borrowing Costs

    01/01/09

    PAS 23
    PAS 23
    (Revised)

    Related Party Disclosures [superseded by PAS 24


    PAS 24

    (Revised)]

    01/01/05

    (Revised)

    Related Party Disclosures

    01/01/11

    PAS 26

    Accounting and Reporting by Retirement Benefit Plans

    01/01/05

    PAS 24

    Consolidated and Separate Financial


    PAS 27

    Statements [superseded by PAS 27 (revised)]

    01/01/05

    Consolidated and Separate Financial Statements

    07/01/09

    PAS 27
    (Revised)

    Amendments to PFRS 1 and PAS 27: Cost of an


    Investment in a Subsidiary, Jointly Controlled Entity or
    Associate

    01/01/09

    (Amended)

    Separate Financial Statements

    01/01/13*

    PAS 28

    Investments in Associates

    01/01/05

    (Amended)

    Investments in Associates and Joint Ventures

    01/01/13*

    PAS 29

    Financial Reporting in Hyperinflationary Economies

    01/01/05

    PAS 27

    PAS 28

    Disclosures in the Financial Statements of Banks and


    PAS 30

    Similar Financial Institutions [superseded by PFRS 7]

    01/01/05

    PAS 31

    Interests in Joint Ventures

    01/01/05

    PAS 32

    Financial Instruments: Disclosure and Presentation

    01/01/05

    Financial Instruments: Presentation

    01/01/07

    Amendments to PAS 32 and PAS 1: Puttable Financial


    Instruments and Obligations Arising on Liquidation

    01/01/09

    Amendment to PAS 32: Classification of Rights Issues

    02/01/10

    Amendments to PAS 32: Offsetting Financial Assets and


    Financial Liabilities

    01/01/14*

    PAS 33

    Earnings per Share

    01/01/05

    PAS 34

    Interim Financial Reporting

    01/01/05

    PAS 36

    Impairment of Assets

    01/01/05

    PAS 37

    Provisions, Contingent Liabilities and Contingent Assets

    01/01/05

    PAS 38

    Intangible Assets

    01/01/05

    PAS 39

    Financial Instruments: Recognition and Measurement

    01/01/05

    Amendments to PAS 39: Transition and Initial


    Recognition of Financial Assets and Financial Liabilities

    01/01/05

    Amendments to PAS 39: Cash Flow Hedge Accounting


    of Forecast Intragroup Transactions

    01/01/06

    Amendments to PAS 39: The Fair Value Option

    01/01/06

    Amendments to PAS 39 and PFRS 4: Financial


    Guarantee Contracts

    01/01/06

    Amendments to PAS 39 and PFRS 7: Reclassification of


    Financial Assets

    07/01/08

    Amendments to PAS 39 and PFRS 7: Reclassification of


    Financial Assets Effective Date and Transition

    07/01/08

    Amendments to Philippine Interpretation IFRIC9 and

    06/30/09

    PAS 39: Embedded Derivatives


    Amendment to PAS 39: Eligible Hedged Items

    07/01/09

    PAS 40

    Investment Property

    01/01/05

    PAS 41

    Agriculture

    01/01/05

    Financial Reporting Standards for Non-publicly


    PAS 101

    Accountable Entities[superseded by PFRS for SMEs]


    Amendment to PAS 101: Change in Effective Date

    01/01/05

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