by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
OVERVIEW OF FRS 109 Classification and Measurement of Financial Instruments (a) Financial assets are measured at their fair value at initial recognition, and subsequently measured at amortised cost (using the effective interest method), FVOCI or FVTPL. Fair value...
by admin | Feb 6, 2018 | Accounting, Income Tax, Tech News
The Accounting Standards Council issued Financial Reporting Standard (FRS) 115 Revenue from Contracts with Customers on 19 Nov 2014. FRS 115 applies to contracts which an entity has with its customers. It is effective from annual periods beginning on or after 1...
by admin | Jan 21, 2018 | Accounting, Tech News
The International Financial Reporting Standards (IFRS) has issued a simple one-page summary of the accounting model in IFRS 17 Insurance Contracts on 19 January 2018. The summary provides simple yet sufficient information to help the stakeholders to understand the...
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...
