Singapore Financial Reporting Standard
for Small Entities

The Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities) issued by the ASC is published for your personal non-commercial use only, subject to the Terms and Conditions of Use of this Web Site. The SFRS for Small Entities is based on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the International Accounting Standards Board. As the copyright to the IFRS for SMEs is owned by the IFRS Foundation, permission to use the SFRS for Small Entities for any other purpose is required from the ASC and the IFRS Foundation with regard to the SFRS for Small Entities and the IFRS for SMEs, respectively.


 Effective for annual periods beginning on or after 1 Jan 2017

This SFRS for Small Entities incorporates the 2015 Amendments to the SFRS for Small Entities issued by the ASC and is required to be applied for annual periods beginning on or after 1 January 2017. 

No. Title
1 ASC Statement on Applicability
2 Singapore Financial Reporting Standard for Small Entities
3 Illustrative Financial Statements, Table of Presentation and Disclosure Requirements
4 Non-mandatory Q&As for SFRS for Small Entities*
Q&A Section 12, Issue 1: Accounting for financial guarantee contracts in individual or separate financial statements of issuer (Issued in March 2018)
*All Q&As issued prior to the 2015 Amendments to the SFRS for Small Entities (including those Q&As that have been incorporated into this SFRS for Small Entities) have been withdrawn.

 
Implementation support

The IFRS Foundation provides non-mandatory training material for the IFRS for SMEs. The training material can be accessed free of charge at the IFRS Foundation's website.

The requirements of the SFRS for Small Entities shall prevail in the event of any inconsistencies between the IFRS Foundation's training material and the SFRS for Small Entities.


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Last updated on 7 March 2018