Philippine Financial Reporting Standards

Effective
Number Title
date
PFRS 1 First-time Adoption of Philippine
July 1, 2009
(Revised) Financial Reporting Standards
January 1,
PFRS 2 Share-based Payment
2005
PFRS 3
Business Combinations July 1, 2009
(Revised)
January 1,
PFRS 4 Insurance Contracts
2005
Non-current Assets Held for
January 1,
PFRS 5 Sale and Discontinued
2005
Operations
Exploration for and Evaluation of January 1,
PFRS 6
Mineral Resources 2006
Financial Instruments: January 1,
PFRS 7
Disclosures 2007
PFRS 8 Operating Segments January 1,
 Effective
Number Title
date
2009
PFRS 9 January 1,
Financial Instruments
(2014) 2018
Consolidated Financial January 1,
PFRS 10
Statements 2013
January 1,
PFRS 11 Joint Arrangements
2013
Disclosure of Interests in Other January 1,
PFRS 12
Entities 2013
January 1,
PFRS 13 Fair Value Measurement
2013
January 1,
PFRS 14 Regulatory Deferral Accounts
2016
Revenue from Contracts with January 1,
PFRS 15
Customers 2018
January 1,
PFRS 16Leases
2019
 Effective
Number Title
date
January 1,
PFRS 17 Insurance Contracts
2021

Philippine Accounting Standards

Effective
Number Title
date
Presentation of Financial January 1,
PAS 1 (Revised)
Statements 2009
January 1,
PAS 2 Inventories
2005
January 1,
PAS 7 Statement of Cash Flows
2005
 Accounting Policies, Changes in
January 1,
PAS 8 Accounting Estimates and
2005
Errors
Events after the Reporting January 1,
PAS 10
Period 2005
January 1,
PAS 12 Income Taxes
2005
January 1,
PAS 16 Property, Plant and Equipment
2005
January 1,
PAS 17 Leases
2005
January 1,
PAS 19 (Revised) Employee Benefits
2013
Accounting for Government
January 1,
PAS 20 Grants and Disclosure of
2005
Government Assistance
 The Effects of Changes in January 1,
PAS 21
Foreign Exchange Rates 2005

January 1,
PAS 23 (Revised) Borrowing Costs
2009
January 1,
PAS 24 (Revised) Related Party Disclosures
2011

Accounting and Reporting by January 1,

PAS 26
Retirement Benefit Plans 2005

January 1,
PAS 27 (Amended) Separate Financial Statements
2013

Investments in Associates and January 1,

PAS 28 (Amended)
Joint Ventures 2013
 Financial Reporting in January 1,
PAS 29
Hyperinflationary Economies 2005

Financial Instruments: January 1,

PAS 32
Presentation 2007
January 1,
PAS 33 Earnings per Share
2005
January 1,
PAS 34 Interim Financial Reporting
2005
January 1,
PAS 36 Impairment of Assets
2005
Provisions, Contingent
January 1,
PAS 37 Liabilities and Contingent
2005
Assets
January 1,
PAS 38 Intangible Assets
2005
 Financial Instruments: January 1,
PAS 39
Recognition and Measurement 2005

January 1,
PAS 40 Investment Property
2005
January 1,
PAS 41 Agriculture
2005

Philippine Interpretations
Effective
Number Title
date
Changes in Existing
Philippine Interpretation January 1,
Decommissioning, Restoration
IFRIC-1 2005
and Similar Liabilities
Philippine Interpretation Members’ Shares in Co-operative January 1,
IFRIC-2 Entities and Similar Instruments 2005
 Effective
Number Title
date
Philippine Interpretation Determining whether an January 1,
IFRIC-4 Arrangement contains a Lease 2006
Rights to Interests arising from
Philippine Interpretation Decommissioning, Restoration January 1,
IFRIC-5 and Environmental Rehabilitation 2006
Funds
Liabilities arising from
Philippine Interpretation Participating in a Specific December 1,
IFRIC-6 Market—Waste Electrical and 2005
Electronic Equipment
Applying the Restatement
Philippine Interpretation Approach under PAS 29 Financial March 1,
IFRIC-7 Reporting in Hyperinflationary 2006
Economies
Philippine Interpretation Interim Financial Reporting and November 1,
IFRIC-10 Impairment 2006
Philippine Interpretation Service Concession January 1,
IFRIC-12 Arrangements 2008
 Effective
Number Title
date
PAS 19—The Limit on a Defined
Philippine Interpretation Benefit Asset, Minimum Funding January 1,
IFRIC-14 Requirements and their 2008
Interaction
Philippine Interpretation Hedges of a Net Investment in a October 1,
IFRIC-16 Foreign Operation 2008
Philippine Interpretation Extinguishing Financial Liabilities
July 1, 2010
IFRIC-19 with Equity Instruments
Philippine Interpretation Stripping Costs in the Production January 1,
IFRIC-20 Phase of a Surface Mine 2013
Philippine Interpretation January 1,
Levies
IFRIC-21 2014
Philippine Interpretation Foreign Currency Transactions January 1,
IFRIC-22 and Advance Consideration 2018
Philippine Interpretation Uncertainty over Income Tax January 1,
IFRIC-23 Treatments 2019
Philippine Interpretation Introduction of the Euro January 1,
 Effective
Number Title
date
SIC-7 2005
Government Assistance—No
Philippine Interpretation January 1,
Specific Relation to Operating
SIC-10 2005
Activities
Philippine Interpretation January 1,
Operating Leases—Incentives
SIC-15 2005
Income Taxes—Changes in the
Philippine Interpretation January 1,
Tax Status of an Entity or its
SIC-25 2005
Shareholders
Evaluating the Substance of
Philippine Interpretation January 1,
Transactions Involving the Legal
SIC-27 2005
Form of a Lease
Philippine Interpretation Service Concession January 1,
SIC-29 Arrangements: Disclosures 2005
Philippine Interpretation Intangible Assets—Web Site January 1,
SIC-32 Costs 2005
For SMEs
Section
1 Small and Medium-sized Entities

2 Concepts and Pervasive Principles

3 Financial Statement Presentation

4 Statement of Financial Position

5 Statement of Comprehensive Income and Income Statement

6 Statement of Changes In Equity and Statement of Income and Retained Earnings

7 Statement of Cash Flows

8 Notes to the Financial Statements

9 Consolidated and Separate Financial Statements

10 Accounting Policies, Estimates and Errors

11 Basic Financial Instruments

12 Other Financial Instruments Issues

13 Inventories

14 Investments in Associates

15 Investments in Joint Ventures

16 Investment Property
17 Property, Plant and Equipment

18 Intangible Assets other than Goodwill

19 Business Combinations and Goodwill

20 Leases

21 Provisions and Contingencies

22 Liabilities and Equity

23 Revenue

24 Government Grants

25 Borrowing Costs

26 Share-based Payment

27 Impairment of Assets

28 Employee Benefits

29 Income Tax

30 Foreign Currency Translation

31 Hyperinflation

32 Events after the end of the Reporting Period

33 Related Party Disclosures

34 Specialized Activities

35 Transition to the PFRS for SMEs