ACRA issued second report on key findings from reviews of listed companies’ financial statements

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ACRA issued second report on key findings from reviews of listed companies’ financial statements Companies are responding positively to measures taken to improve quality financial reporting instituted by ACRA’s Financial Reporting Surveillance Programme (FRSP). In the second annual FRSP report issued, it was observed that companies took quick action to rectify financial reporting gaps highlighted…

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ASC issued FRS 116 Leases

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ASC issued FRS 116 Leases and invites comments on ED/2016/1 ASC has issued FRS 116 Leases. ASC invites comments on Exposure Draft ED/2016/1 Definition of a Business and Accounting for Previously Held Interests (Proposed amendments to IFRS 3 and IFRS 11) – Comments by 26 Aug 2016. Please visit Financial Reporting Standards for the FRS…

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ASC has issued Amendments to FRS 115

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Updates from ASC – ASC has issued Amendments to FRS 115 ASC has issued Amendments to FRS 115: Clarifications to FRS 115 Revenue from Contracts with Customers. Please visit Financial Reporting Standards Changes effective for annual periods beginning after 1 January 2016 for information.   Related link Preparation of financial statements

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Latest BizFinx Preparation Tool Released

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Latest BizFinx Preparation Tool Released The latest version (v.2.4.0) of the BizFinx preparation tool which includes support for Microsoft Office 2016, is now available for download at BizFinx website. The updated version also incorporates bug fixes and enhancements. Please click here for more details. All preparers are encouraged to upgrade to this updated version 2.4.0,…

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The International Accounting Standards Board April Key Update

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The International Accounting Standards Board April Key Update The April 2016 IASB Update has been published. Please click here for information. The International Accounting Standards Board (the Board) has today issued amendments to the Revenue Standard, IFRS 15 Revenue from Contracts with Customers, clarifying some requirements and providing additional transitional relief for companies that are…

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