Financial Reporting Standards
Changes effective for annual periods beginning after 1 January 2015

 

FRSs

 

 

Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC.

FRSs issued by the ASC are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As FRSs are based on International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board and the copyright to IFRSs is owned by the IFRS Foundation, permission to use FRSs for any other purpose is required from the ASC and the IFRS Foundation with regard to FRSs and IFRSs, respectively.

The following are new/revised/amendments to FRSs and INT FRSs issued by the ASC up to 31 December 2015 which are effective for annual periods beginning after 1 January 2015.

Financial Reporting Standards

 
Reference Title Effective Date
(Annual periods beginning on or after)
Issuance Date
Issued in 2014
FRS 114 Regulatory Deferral Accounts 1 Jan 2016 23 Jun 2014
FRS 27 Amendments to FRS 27: Equity Method in Separate Financial Statements 1 Jan 2016 23 Oct 2014
FRS 16, FRS 38 Amendments to FRS 16 and FRS 38: Clarification of Acceptable Methods of Depreciation and Amortisation 1 Jan 2016 23 Oct 2014
FRS 16, FRS 41 Amendments to FRS 16 and FRS 41: Agriculture: Bearer Plants 1 Jan 2016 23 Oct 2014
FRS 111 Amendments to FRS 111: Accounting for Acquisitions of Interests in Joint Operations 1 Jan 2016 23 Oct 2014
FRS 115 Revenue from Contracts with Customers
Illustrative Examples
1 Jan 20181 19 Nov 2014
FRS 110, FRS 28 Amendments to FRS 110 and FRS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture To be determined2 19 Nov 2014
Various Improvements to FRSs (November 2014) Refer to document 19 Nov 2014
FRS 109 Financial Instruments
Illustrative Examples
Implementation Guidance
Amendments to Guidance on Other Standards
1 Jan 2018 11 Dec 2014
Issued in 2015
FRS 1 Amendments to FRS 1: Disclosure Initiative 1 Jan 2016 22 Jan 2015
FRS 110, FRS 112,
FRS 28
Amendments to FRS 110, FRS 112 and FRS 28: Investment Entities: Applying the Consolidation Exception (Editorial corrections in June 2015) 1 Jan 2016 22 Jan 2015
FRS 115 Amendments to FRS 115: Effective Date of FRS 115 - 11 Nov 2015
FRS 110, FRS 28 Amendments to Effective Date of Amendments to FRS 110 and FRS 28 - 23 Dec 2015

 

1 The mandatory effective date of this FRS had been revised from 1 Jan 2017 to 1 Jan 2018 by the ASC in Nov 2015 via Amendments to FRS 115: Effective Date of FRS 115.

2 The mandatory effective date of this Amendment had been revised from 1 Jan 2016 to a date to be determined by the ASC in Dec 2015 via Amendments to Effective Date of Amendments to FRS 110 and FRS 28.

 

 

Interpretations of Financial Reporting Standards

 

 






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Last updated on 23 December 2015

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