Financial Reporting Standards (FRSs)

A resource catered for the busy accountant. The pace of change of accounting standards in Singapore increased significantly since 2005. The standards and relevant references have been categorically captured, web-linked and will be continuously updated on this page specially created for the accounting community. Three main sections: (1) Changes by FY; (2) Exposure drafts; (3) References

Changes in FY 2010

Amendments to FRS 39
Eligibel hedge items - Eff. 1/7/2009

Revised FRS 101 First time adoption of FRS - Eff. 1/7/2009

Amendments to FRS 101
Additional exemptions for first-time adopters - Eff. 1/1/2010

Amendments to FRS 102
Group cash-settled share-based payment transaction - Eff. 1/1/2010

Revised FRS 103 & FRS 27
Business combinations & Consolidated and separate financial statements - Eff. 1/7/2009

Amendments to INT FRS 109 & FRS 39
Embedded derivatives - Eff. 30/6/2009

INT FRS 117
Distribution of non-cash assets to owners - Eff. 1/7/2009

INT FRS 118
Transfer of assets from customers - Eff. 1/7/2009

Improvements to FRS - Generally eff. 1/1/2010.




.