Charities Accounting Standard (CAS)
SFRS for Small Entities
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Accounting Standards

   
SFRS for Small Entities
Financial Reporting Standards (FRSs)

Interpretations of FRSs

Exposure Drafts

     
     
  Practice Statements
     
     
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News Issued

Practice Directions

     
     

 

 

 
 

Welcome to the ASC website

The mandate of the ASC is to develop, review, amend and approve accounting standards for entities that are under its purview, taking into account:

a. The information needs of the stakeholders of the entities;
b. Facilitation of comparability, disclosure and transparency;
c. Compatibility with relevant international standards; and
d. Singapore's reputation as a trusted international business and financial hub.

While the ASC will track closely the introduction of new International Financial Reporting Standards (IFRS) for possible application in Singapore, it will also take into account the local economic and business circumstances and context, as well as the entity to which the accounting standards would apply to.

The Chairman and members of the ASC are appointed by the Minister for Finance, and the Council’s composition comprises representatives from stakeholder groups such as the accounting profession, the users and preparers of financial information, academia and the Government.

Although the ASC is taking over from the CCDG, previous accounting standards, interpretations, practice directions and other directives issued by the CCDG would still remain valid and in force, as provided under Section 8(4) of the Accounting Standards Act, unless otherwise stated.

 
 
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Last reviewed on 11 December 2007
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