ASC publishes the 2017 Volume of FRSs and INT FRSs and the SFRS for Small Entities

ASC publishes the 2017 volume of FRSs and INT FRSs and the SFRS for Small Entities The Accounting Standards Council (ASC) publishes the 2017 volume of Financial Reporting Standards (FRSs) and Interpretations of Financial Reporting Standards FRSs (INT FRSs) and the Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities)  that is applicable…

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Financial Reporting Practice Guidance No. 1 of 2016 – Areas of Review Focus for FY2016 Financial Statements

Financial Reporting Practice Guidance No. 1 of 2016 – Areas of Review Focus for FY2016 Financial Statements ACRA issues Financial Reporting Practice Guidance No. 1 of 2016 on 8 December 2016. In 2016, weak market sentiments and continued slow-growth in the global environment have affected many Singapore companies. This Practice Guidance highlights seven financial reporting…

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

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

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

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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