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016 – List of Effective Standards and Interpretations (as of December 31, 2012)

Bulletin No.

Date

Subject Matter

Clarification/Details

016

24 January 2013

List of Effective Standards and Interpretations (as of December 31, 2012)

 

 

Under paragraph 4(J) of SRC Rule 68, as amended, large and/or publicly-accountable entities are required to submit with their audited financial statements a schedule, in table format, showing in the first column a list of all the effective standards and interpretations under the PFRS as of year-end, and an indication opposite each in the second column on whether it is “Adopted”, “Not adopted” or “Not applicable”.

 To comply with the said requirement, the following list must be accomplished, audited by the company’s external auditor and submitted with annual financial statements:

COMPANY NAME

PHILIPPINE FINANCIAL REPORTING STANDARDS AND INTERPRETATIONS

Effective as of December 31, 2012

Adopted

Not Adopted

Not Applicable

Framework for the Preparation and Presentation of Financial Statements

Conceptual Framework Phase A: Objectives and qualitative characteristics

 

 

 

PFRSs Practice Statement Management Commentary

 

 

 

Philippine Financial Reporting Standards

   

PFRS 1 (Revised)

First-time Adoption of Philippine Financial Reporting Standards

   

Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate

   

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  

   

Amendments to PFRS 1: Government Loans

   

PFRS 2

Share-based Payment

   

Amendments to PFRS 2: Vesting Conditions and Cancellations

   

Amendments to PFRS 2: Group Cash-settled Share-based Payment Transactions

   

PFRS 3 (Revised)

Business Combinations

   

PFRS 4

Insurance Contracts

   

Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts

   

PFRS 5

Non-current Assets Held for Sale and Discontinued Operations

   

PFRS 6

Exploration for and Evaluation of Mineral Resources

   

PFRS 7

Financial Instruments: Disclosures

   

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 7: Mandatory Effective Date of PFRS 9 and Transition Disclosures

   

PFRS 8

Operating Segments

   

PFRS 9*

Financial Instruments

   

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

   

PFRS 10*

Consolidated Financial Statements

   

PFRS 11*

Joint Arrangements

   

PFRS 12*

Disclosure of Interests in Other Entities

   

PFRS 13*

Fair Value Measurement

   

Philippine Accounting Standards

   

PAS 1 (Revised)

Presentation of Financial Statements

   

Amendment to PAS 1: Capital Disclosures

   

Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation

   

Amendments to PAS 1: Presentation of Items of Other Comprehensive Income

   

PAS 2

Inventories

   

PAS 7

Statement of Cash Flows

   

PAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

   

PAS 10

Events after the Reporting Period

   

PAS 11

Construction Contracts

   

PAS 12

Income Taxes

   

Amendment to PAS 12 - Deferred Tax: Recovery of Underlying Assets

   

PAS 16

Property, Plant and Equipment

   

PAS 17

Leases

   

PAS 18

Revenue

   

PAS 19

Employee Benefits

   

Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and Disclosures

   

PAS 19 (Amended)*

Employee Benefits

   

PAS 20

Accounting for Government Grants and Disclosure of Government Assistance

   

PAS 21

The Effects of Changes in Foreign Exchange Rates

   

Amendment: Net Investment in a Foreign Operation

   

PAS 23 (Revised)

Borrowing Costs

   

PAS 24 (Revised)

Related Party Disclosures

   

PAS 26

Accounting and Reporting by Retirement Benefit Plans

   

PAS 27

Consolidated and Separate Financial Statements

 

   

PAS 27 (Amended)*

Separate Financial Statements

   

PAS 28

Investments in Associates

   

PAS 28 (Amended)*

Investments in Associates and Joint Ventures

   

PAS 29

Financial Reporting in Hyperinflationary Economies

   

PAS 31

Interests in Joint Ventures

   

PAS 32

Financial Instruments: Disclosure and Presentation

   

Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation

   

Amendment to PAS 32: Classification of Rights Issues

   

Amendments to PAS 32: Offsetting Financial Assets and Financial Liabilities

   

PAS 33

Earnings per Share

   

PAS 34

Interim Financial Reporting

   

PAS 36

Impairment of Assets

   

PAS 37

Provisions, Contingent Liabilities and Contingent Assets

   

PAS 38

Intangible Assets

   

PAS 39

Financial Instruments: Recognition and Measurement

   

Amendments to PAS 39: Transition and Initial Recognition of Financial Assets and Financial Liabilities

   

Amendments to PAS 39: Cash Flow Hedge Accounting of Forecast Intragroup Transactions

   

Amendments to PAS 39: The Fair Value Option

   

Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts

   

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 Philippine Interpretation IFRIC–9 and PAS 39: Embedded Derivatives

   

Amendment to PAS 39: Eligible Hedged Items

   

PAS 40

Investment Property

   

PAS 41

Agriculture

   

Philippine Interpretations

   

IFRIC 1

Changes in Existing Decommissioning, Restoration and Similar Liabilities

   

IFRIC 2

Members' Share in Co-operative Entities and Similar Instruments

   

IFRIC 4

Determining Whether an Arrangement Contains a Lease

   

IFRIC 5

Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds

   

IFRIC 6

Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment

   

IFRIC 7

Applying the Restatement Approach under PAS 29 Financial Reporting in Hyperinflationary Economies

   

IFRIC 8

Scope of PFRS 2

   

IFRIC 9

Reassessment of Embedded Derivatives

   

Amendments to Philippine Interpretation IFRIC–9 and PAS 39: Embedded Derivatives

   

IFRIC 10

Interim Financial Reporting and Impairment

   

IFRIC 11

PFRS 2- Group and Treasury Share Transactions

   

IFRIC 12

Service Concession Arrangements

   

IFRIC 13

Customer Loyalty Programmes

   

IFRIC 14

The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction

   

Amendments to Philippine Interpretations IFRIC- 14, Prepayments of a Minimum Funding Requirement

   

IFRIC 16

Hedges of a Net Investment in a Foreign Operation

   

IFRIC 17

Distributions of Non-cash Assets to Owners

   

IFRIC 18

Transfers of Assets from Customers

   

IFRIC 19

Extinguishing Financial Liabilities with Equity Instruments

   

IFRIC 20

Stripping Costs in the Production Phase of a Surface Mine

   

SIC-7

Introduction of the Euro

   

SIC-10

Government Assistance - No Specific Relation to Operating Activities

   

SIC-12

Consolidation - Special Purpose Entities

   

Amendment to SIC - 12: Scope of SIC 12

   

SIC-13

Jointly Controlled Entities - Non-Monetary Contributions by Venturers

   

SIC-15

Operating Leases - Incentives

   

SIC-21

Income Taxes – Recovery of Revalued Non-Depreciable Assets

   

SIC-25

Income Taxes - Changes in the Tax Status of an Entity or its Shareholders

   

SIC-27

Evaluating the Substance of Transactions Involving the Legal Form of a Lease

   

SIC-29

Service Concession Arrangements: Disclosures.

   

SIC-31

Revenue - Barter Transactions Involving Advertising Services

   

SIC-32

Intangible Assets - Web Site Costs