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| 30 October
2008 |
The ASC has issued the amendments to FRS 39
Financial Instruments: Recognition and Measurement and FRS 107
Financial Instruments: Disclosures - Reclassification of Financial
Assets, with an effective date from 1 July 2008. Click here
for the press release. |
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| 22 October
2008 |
ED FRS 107 - Improving Disclosures
about Financial Instruments and the Discussion Paper - Preliminary
Views on Financial Statement Presentation are available for
comments. Comments should be submitted to the ASC no later than
14 November 2008 for the ED FRS 107, and 14 February 2009 for
the Discussion Paper. |
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| 14 October
2008 |
The ASC has issued
the amendments to FRSs - Improvements to FRSs. The effective
dates and transitional provisions for the amendments are stated
in the issued document. |
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| 14 October
2008 |
ED FRS 101 - Additional
exemptions for First-time adopters and ED FRS 105 - Discontinued
Operations are available for comments. Comments should be submitted
to the ASC no later than 23 November 2008. |
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| 10 October
2008 |
The Ministry of Finance is setting up a Committee
to review the accountancy sector and make its recommendations
to position Singapore as a leading professional accountancy
centre in Asia. See the media
release and speech. |
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| 09 October
2008 |
The ASC has issued the
amendments to FRS 101 First-time Adoption of Financial Reporting
Standards and FRS 27 Consolidated and Separate Financial Statements
- Cost of an Investment in a Subsidiary, Jointly Controlled
Entity or Associate, effective for annual periods beginning
on or after 1 January 2009. |
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| 22 September
2008 |
The
ASC has issued a new Interpretation of Financial Reporting Standards
(INT FRS) for Singapore incorporated companies. INT FRS 116
Hedges of a Net Investment in a Foreign Operation is effective
for annual periods beginning on or after 1 October 2008, with
earlier application permitted. |
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| 28 August
2008 |
ED Proposed improvements
to FRSs and ED FRS 33 Simplifying Earnings per Share are available
for comments. Comments should be submitted to the ASC no later
than 3 October 2008 and 17 October 2008 respectively. |
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| 22 August
2008 |
The ASC has issued the
amendments to FRS 32 Financial Instruments: Presentation and
FRS 1 Presentation of Financial Statements - Puttable Financial
Instruments and Obligations Arising on Liquidation, effective
for annual periods beginning on or after 1 January 2009. |
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|
| 04 August
2008 |
The Accounting
Standards Council is seeking feedback on the draft accounting
proposals and reporting requirements pertaining to charities
and Institutions of a Public Character (IPCs) in Singapore.
The public can comment on the draft proposals from 4 August
2008 till 7 September 2008. |
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| 24 July
2008 |
The IASC Foundation has issued
a Discussion Document on Public Accountability and the Composition
of the IASB: Proposals for change. Comments should be submitted
to the ASC no later than 24 August 2008. |
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|
| 03 July
2008 |
The ASC has issued the
amendments to FRS 102 Share-based Payment: Vesting Conditions
and Cancellations, effective for annual periods beginning on
or after 1 January 2009. |
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| 26 June
2008 |
The
ASC is pleased to host the IASB Regional Standard-Setters Meeting
2008 from 16 to 17 July. As part of the event, the ASC is hosting
the public seminar "IFRS: A Global and Regional Perspective"
on 17 July at the Mandarin Oriental Hotel. Seats are limited,
so please register early to avoid disappointment. |
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| 20 June
2008 |
The IASB and FASB have jointly
issued an Exposure Draft of Chapters 1 and 2 of the Joint Improved
Conceptual Framework, and a Discussion Paper on Preliminary
Views on an Improved Conceptual Framework for Financial Reporting.
Comments should be submitted to the ASC no later than 15 August
2008. |
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| 13 May
2008 |
The Accounting
Standards Council is conducting a public consultation exercise
from 13 May 2008 to 30 June 2008 on the proposed differential
reporting framework for Small and Medium Sized Entities (SMEs) |
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| 16 April
2008 |
The IASB has issued a Discussion
Paper on Preliminary Views on Amendments to IAS 19 Employee
Benefits for comments. Comments should be submitted to the ASC
no later than 15 August 2008. |
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|
| 28 March
2008 |
The ASC has issued
2 new Interpretations of Financial Reporting Standards (INT
FRS) for Singapore incorporated companies. INT FRS 113 Customer
Loyalty Programmes is effective for annual periods beginning
on or after 1 July 2008, and INT FRS 114 FRS 19 – The
Limit on a Defined Benefit Asset, Minimum Funding Requirements
and their Interaction is effective for annual periods beginning
on or after 1 January 2008. |
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| 28 March
2008 |
The ASC has issued a
revised version of FRS 1 Presentation of Financial Statements
for Singapore incorporated companies, effective for annual periods
beginning on or after 1 January 2009. |
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| 27 March
2008 |
The IASB has issued two Discussion
Papers for comments - Discussion Paper on Reducing Complexity
in Reporting Financial Instruments and Discussion Paper on Financial
Instruments with Characteristics of Equity. Comments should
be submitted to the ASC no later than 1 July 2008. |
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| 14 Feburary
2008 |
ED D23 Distributions
of Non-cash Assets to Owners and ED D24 Customer Contributions
are available for comments. Comments should be submitted no
later than 14 March 2008. |
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| 08 January
2008 |
ED of Proposed Amendments
to FRS 101 First-time Adoption of Financial Reporting Standards
and FRS 27 Consolidated and Separate Financial Statements,
and ED of Proposed Amendments to FRS 102 Share-based Payment
and INT FRS 111 FRS 102—Group and Treasury Share Transactions
are available for comments. Comments should be submitted no
later than 4 February 2008. |
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