The Discussion Paper - Preliminary Views on Revenue Recognition in Contracts with Customers is available for comments. Comments should be submitted to the ASC no later than 3 April 2009.

The IASC Foundation has issued the Discussion Document on the Review of the Constitution: Identifying Issues for Part 2 of the Review. Comments should be submitted to the ASC no later than 22 February 2009.

ED 10 Consolidated Financial Statements and ED Relationships with the State (Proposed amendments to FRS 24) are available for comments. Comments should be submitted to the ASC no later than 6 February 2009 for both EDs.

ED Proposed Amendments to INT FRS 109 and FRS 39 - Embedded Derivatives and ED Proposed amendments to FRS 107 - Investments in Debt Instruments are available for comments. Due to the short comment period stated by the IASB, please submit your comments to the ASC no later than 9 January 2009 for both EDs.

The ASC has issued a statement on IFRIC Interpretation 15, issued by the International Accounting Standards Board (IASB) on 3 July 2008.

The ASC has issued the amendments to FRS 39 Financial Instruments: Recognition and Measurement - Eligible Hedged Items. Entities are to apply these amendments retrospectively for annual periods beginning on or after 1 July 2009. Earlier application is permitted.

The ASC has issued a statement on the revisions to IFRS 3 Business Combinations and IAS 27 Consolidated and Separate Financial Statements, issued by the IASB in January 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.

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.

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.

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.

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.

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.

The ASC has issued 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.

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.

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.

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.

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.

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.

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.

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.

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)

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.

The ASC has issued 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.

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.

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.

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.