by admin | Jan 12, 2018 | Accounting, Tech News
FRS 109 and FRS 115 are effective for reporting periods starting on or after 1 January 2018 with early application permitted. (1) FRS 109 Financial Instruments FRS 109 Financial Instruments replaces FRS 39 Financial Instruments: Recognition and Measurement. FRS 109...
by admin | Jan 7, 2018 | Accounting, Tech News
The ASC has issued the first volume of Singapore Financial Reporting Standards (International) (SFRS(I)s on 29 December 2017, the Singapore equivalent to the International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board...
by admin | Jan 7, 2018 | Accounting, Tech News
ASC has issued Amendments to the following Singapore financial reporting standards (FRSs) on 29 December 2017: FRS 109 Financial Instruments: The amendments deal with the transition requirements for prepayment features with negative compensation. FRS 28 Investments in...
by admin | Jan 5, 2018 | Accounting, Tech News
The Accounting and Corporate Regulatory Authority (ACRA) has established the Financial Reporting Surveillance Programme (“FRSP”) to guide companies to meet the requirements in the prescribed accounting standards in Singapore for their financial reporting. ACRA has...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 39 Classifications of financial instruments (a) FRS 39 has 4 clearly defined categories of financial assets: (a) Financial assets at fair value through profit or loss; – Held for trading; – Designated as at fair value through profit or...
by admin | Jan 3, 2018 | Accounting, Income Tax, Tech News
Accounting for Financial Instruments The accounting treatment for financial assets and financial liabilities is governed under the Singapore Financial Reporting Standards (SFRS) or the Financial Reporting Standard for Small Entities (SFRS for Small Entities) for...
