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  • Philippine Accounting Standards Number Title Effective Date

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    AndreaaAAaa Tagle
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    An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices. Accounting standards apply to the full breadth of a entity’s financial picture, including assets, liabilities, revenue, expenses and shareholders' equity.

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    Accounting Standards

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    An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices. Accounting standards apply to the full breadth of a entity’s financial picture, including assets, liabilities, revenue, expenses and shareholders' equity.

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    © All Rights Reserved
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    9 views3 pages

    Philippine Accounting Standards Number Title Effective Date

    Uploaded by

    AndreaaAAaa Tagle
    An accounting standard is a common set of principles, standards, and procedures that define the basis of financial accounting policies and practices. Accounting standards apply to the full breadth of a entity’s financial picture, including assets, liabilities, revenue, expenses and shareholders' equity.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 3

    Philippine Accounting Standards

    Number Title Effective date

    PAS 1 REVISED Presentation of


    PAS 1 (Revised) January 1, 2009
    Financial Statements

    PAS 2 PAS 2 Inventories January 1, 2005

    PAS 7 PAS 7 Statement of Cash Flows January 1, 2005

    PAS 8 Accounting Policies, Changes


    PAS 8 January 1, 2005
    in Accounting Estimates and Errors

    PAS 10 Events after the Reporting


    PAS 10 January 1, 2005
    Period

    PAS 12 PAS 12 Income Taxes January 1, 2005

    PAS 16 Property, Plant and


    PAS 16 January 1, 2005
    Equipment

    PAS 17 PAS 17 Leases January 1, 2005

    PAS 18 REVISED Employee


    PAS 19 (Revised) January 1, 2013
    Benefits

    PAS 20 Accounting for Government


    PAS 20 Grants and Disclosure of January 1, 2005
    Government Assistance

    PAS 21 The Effects of Changes in


    PAS 21 January 1, 2005
    Foreign Exchange Rates

    PAS 23 (Revised) PAS 23 REVISED Borrowing Costs January 1, 2009

    PAS 24 REVISED Related Party


    PAS 24 (Revised) January 1, 2011
    Disclosures

    PAS 26 Accounting and Reporting


    PAS 26 January 1, 2005
    by Retirement Benefit Plans

    PAS 27 AMENDED Separate


    PAS 27 (Amended) January 1, 2013
    Financial Statements

    PAS 28 AMEMDED Investments in


    PAS 28 (Amended) January 1, 2013
    Associates and Joint Ventures

    PAS 29 Financial Reporting in


    PAS 29 January 1, 2005
    Hyperinflationary Economies

    PAS 32 Financial Instruments:


    PAS 32 January 1, 2007
    Presentation
    PAS 33 PAS 33 Earnings per Share January 1, 2005

    PAS 34 PAS 34 Interim Financial Reporting January 1, 2005

    PAS 36 PAS 36 Impairment of Assets January 1, 2005

    PAS 37 Provisions, Contingent


    PAS 37 January 1, 2005
    Liabilities and Contingent Assets

    PAS 38 PAS 38 Intangible Assets January 1, 2005

    PAS 39 Financial Instruments:


    PAS 39 January 1, 2005
    Recognition and Measurement

    PAS 40 PAS 40 Investment Property January 1, 2005

    PAS 41 PAS 41 Agriculture January 1, 2005

    Philippine Financial Reporting Standards

    Number Title Effective date

    PFRS 1 (Revised) First-time Adoption of


    PFRS 1 (Revised) July 1, 2009
    Philippine Financial Reporting Standards

    PFRS 2 PFRS 2 Share-based Payment January 1, 2005

    PFRS 3 (Revised) PFRS 3 (Revised) Business Combinations July 1, 2009

    PFRS 4 PFRS 4 Insurance Contracts January 1, 2005

    PFRS 5 Non-current Assets Held for Sale


    PFRS 5 January 1, 2005
    and Discontinued Operations

    PFRS 6 Exploration for and Evaluation of


    PFRS 6 January 1, 2006
    Mineral Resources

    PFRS 7 PFRS 7 Financial Instruments: Disclosures January 1, 2007

    PFRS 8 PFRS 8 Operating Segments January 1, 2009

    PFRS 9 (2014) PFRS 9 (2014) Financial Instruments January 1, 2018

    PFRS 10 PFRS 10 Consolidated Financial Statements January 1, 2013

    PFRS 11 PFRS 11 Joint Arrangements January 1, 2013

    PFRS 12 Disclosure of Interests in Other


    PFRS 12 January 1, 2013
    Entities

    PFRS 13 PFRS 13 Fair Value Measurement January 1, 2013

    PFRS 14 PFRS 14 Regulatory Deferral Accounts January 1, 2016


    Number Title Effective date

    PFRS 15 Revenue from Contracts with


    PFRS 15 January 1, 2018
    Customers

    PFRS 16 PFRS 16 Leases January 1, 2019

    PFRS 17 PFRS 17 Insurance Contracts January 1, 2023

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