Philippine Accounting Standards (PAS)

Number Title Effective date

PAS 1 (Revised) Presentation of Financial Statements January 1, 2009

PAS 2 Inventories January 1, 2005

PAS 7 Statement of Cash Flows January 1, 2005

Accounting Policies, Changes in Accounting

PAS 8 January 1, 2005
Estimates and Errors

PAS 10 Events after the Reporting Period January 1, 2005

PAS 11 Construction Contracts January 1, 2005

PAS 12 Income Taxes January 1, 2005

PAS 14 Segment Reporting January 1, 2005

PAS 16 Property, Plant and Equipment January 1, 2005

PAS 17 Leases January 1, 2005

PAS 18 Revenue January 1, 2005

PAS 19 (Revised) Employee Benefits January 1, 2013

Accounting for Government Grants and

PAS 20 January 1, 2005
Disclosure of Government Assistance

The Effects of Changes in Foreign Exchange

PAS 21 January 1, 2005
Rates

PAS 23 (Revised) Borrowing Costs January 1, 2009

PAS 24 (Revised) Related Party Disclosures January 1, 2011

Accounting and Reporting by Retirement

PAS 26 January 1, 2005
Benefit Plans

Separate and Consolidated Financial

PAS 27 (Amended) January 1, 2013
Statements

Investments in Associates and Joint

PAS 28 (Amended) January 1, 2013
Ventures
 Financial Reporting in Hyperinflationary
PAS 29 January 1, 2005
Economies

Disclosure in the Financial Statement of

PAS 30 January 1, 2005
Banks and Financial Institutions

PAS 31 Interest in Joint Ventures Jan 1, 2015

Financial Instruments: Disclosure and

PAS 32 January 1, 2007
Presentation

PAS 33 Earnings per Share January 1, 2005

PAS 34 Interim Financial Reporting January 1, 2005

PAS 36 Impairment of Assets January 1, 2005

Provisions, Contingent Liabilities and

PAS 37 January 1, 2005
Contingent Assets

PAS 38 Intangible Assets January 1, 2005

Financial Instruments: Recognition and

PAS 39 January 1, 2005
Measurement

PAS 40 Investment Property January 1, 2005

PAS 41 Agriculture January 1, 2005

International Financial Reporting Standards (IFRS)

# Name Issued

IFRS 1 First-time Adoption of International Financial Reporting 2008*

Standards

IFRS 2 Share-based Payment 2004

IFRS 3 Business Combinations 2008*

IFRS 4 Insurance Contracts 2004

Will be superseded by IFRS 17 as of 1 January 2021

IFRS 5 Non-current Assets Held for Sale and Discontinued 2004

Operations

IFRS 6 Exploration for and Evaluation of Mineral Assets 2004

IFRS 7 Financial Instruments: Disclosures 2005

IFRS 8 Operating Segments 2006

IFRS 9 Financial Instruments 2014*

IFRS 10 Consolidated Financial Statements 2011

IFRS 11 Joint Arrangements 2011

IFRS 12 Disclosure of Interests in Other Entities 2011

IFRS 13 Fair Value Measurement 2011

IFRS 14 Regulatory Deferral Accounts 2014

IFRS 15 Revenue from Contracts with Customers 2014

IFRS 16 Leases 2016

IFRS 17 Insurance Contracts 2017

International Accounting Standard (IAS)

# Name Amendment (Issued)

IAS 1 Presentation of Financial Statements 2007*
IAS 2 Inventories 2005*
IAS 3 Consolidated Financial Statements 1976
Superseded in 1989 by IAS 27 and IAS 28
IAS 4 Depreciation Accounting Withdrawn in 1999
IAS 5 Information to Be Disclosed in Financial 1976
Statements
Superseded by IAS 1 effective 1 July 1998
IAS 6 Accounting Responses to Changing Prices Superseded by IAS 15, which was
withdrawn December 2003
IAS 7 Statement of Cash Flows 1992

IAS 8 Accounting Policies, Changes in Accounting 2003

Estimates and Errors

IAS 9 Accounting for Research and Development Superseded by IAS 38 effective 1

Activities July 1999

IAS 10 Events After the Reporting Period 2003

IAS 11 Construction Contracts Will be superseded by 1993
IFRS 15 as of 1 January 2017

IAS 12 Income Taxes 1996*

IAS 13 Presentation of Current Assets and Current Superseded by IAS 1 effective 1

Liabilities July 1998
IAS 14 Segment Reporting Superseded by IFRS 8 effective 1
(1997) January 2009
IAS 15 Information Reflecting the Effects of Changing Withdrawn December 2003
Prices (2003)

IAS 16 Property, Plant and Equipment 2003*

IAS 17 Leases 2003*
IAS 18 Revenue (1993*) Will be superseded by IFRS 15 as of
1 January 2017
IAS 19 Employee Benefits (1998) Superseded by IAS 19 (2011)
effective 1 January 2013
IAS 19 Employee Benefits (2011) 2011*
IAS 20 Accounting for Government Grants and 1983
Disclosure of Government Assistance
IAS 21 The Effects of Changes in Foreign Exchange Rates 2003*
IAS 22 Business Combinations (1998*) Superseded by IFRS 3 effective 31
March 2004
IAS 23 Borrowing Costs 2007*
IAS 24 Related Party Disclosures 2009*
IAS 25 Accounting for Investments Superseded by IAS 39 and IAS 40
effective 2001
IAS 26 Accounting and Reporting by Retirement Benefit 1987
Plans

IAS 27 Separate Financial Statements (2011) 2011

IAS 27 Consolidated and Separate Financial Statements Superseded by IFRS 10, IFRS 12 and
(2003) IAS 27 (2011) effective 1 January
2013
IAS 28 Investments in Associates and Joint Ventures 2011
(2011)

IAS 28 Investments in Associates Superseded by IAS 28 (2011) and

(2003) IFRS 12 effective 1 January 2013
IAS 29 Financial Reporting in Hyperinflationary 1989
Economies

IAS 30 Disclosures in the Financial Statements of Banks Superseded by IFRS 7 effective 1

and Similar Financial Institutions January 2007 (1990)

IAS 31 Interests In Joint Ventures Superseded by IFRS 11 and IFRS 12

2003* effective 1 January 2013
IAS 32 Financial Instruments: Presentation 2003*

IAS 33 Earnings Per Share 2003*

IAS 34 Interim Financial Reporting 1998

IAS 35 Discontinuing Operations 1998 Superseded by IFRS 5 effective 1

January 2005
IAS 36 Impairment of Assets 2004*

IAS 37 Provisions, Contingent Liabilities and Contingent 1998

Assets
IAS 38 Intangible Assets 2004*

IAS 39 Financial Instruments: Recognition and Superseded by IFRS 9 where IFRS 9

Measurement (2003*) is applied
IAS 40 Investment Property 2003*
IAS 41 Agriculture 2001