Philippine Financial Reporting Standards

Number Title Effective date

PFRS 1 (Revised)
First-time Adoption of
Philippine Financial July 1, 2009
Reporting Standards

PFRS 2 Share-based Payment January 1, 2005

PFRS 3 (Revised)
Business Combinations July 1, 2009
PFRS 4 Insurance Contracts January 1, 2005
PFRS 5
Non-current Assets Held
for Sale and January 1, 2005
Discontinued Operations

PFRS 6 Exploration for and

Evaluation of Mineral January 1, 2006
Resources
PFRS 7
Financial Instruments: January 1, 2007
Disclosures

PFRS 8 Operating Segments January 1, 2009

PFRS 9 (2014) Financial Instruments January 1, 2018
PFRS 10 Consolidated Financial January 1, 2013
Statements
PFRS 11 Joint Arrangements January 1, 2013
PFRS 12
Disclosure of Interests in January 1, 2013
Other Entities

PFRS 13
Fair Value Measurement January 1, 2013
PFRS 14 Regulatory Deferral January 1, 2016
Accounts
PFRS 15
Revenue from Contracts January 1, 2018
with Customers

PFRS 16 Leases January 1, 2019

PFRS 17 Insurance Contracts January 1, 2021

Philippine Accounting
Standards

Number Title Effective date

PAS 1 (Revised) Presentation of Financial January 1, 2009
Statements
PAS 2 Inventories January 1, 2005
PAS 7
Statement of Cash Flows January 1, 2005
PAS 8
Accounting Policies,
Changes in Accounting January 1, 2005
Estimates and Errors

PAS 10 Events after the January 1, 2005

Reporting Period
PAS 12 Income Taxes January 1, 2005
PAS 16 Property, Plant and January 1, 2005
Equipment
PAS 17 Leases January 1, 2005
PAS 19 (Revised) Employee Benefits January 1, 2013
PAS 20
Accounting for
Government Grants and January 1, 2005
Disclosure of
Government Assistance

PAS 21
The Effects of Changes in January 1, 2005
Foreign Exchange Rates

PAS 23 (Revised) Borrowing Costs January 1, 2009

PAS 24 (Revised) Related Party January 1, 2011
Disclosures
PAS 26
Accounting and
Reporting by Retirement January 1, 2005
Benefit Plans

PAS 27 (Amended) Separate Financial January 1, 2013

Statements
PAS 28 (Amended) Investments in
Associates and Joint January 1, 2013
Ventures
PAS 29 Financial Reporting in
Hyperinflationary January 1, 2005
Economies
PAS 32
Financial Instruments: January 1, 2007
Presentation

PAS 33 Earnings per Share January 1, 2005

PAS 34 Interim Financial January 1, 2005
Reporting
PAS 36 Impairment of Assets January 1, 2005
PAS 37
Provisions, Contingent
Liabilities and January 1, 2005
Contingent Assets

PAS 38 Intangible Assets January 1, 2005

PAS 39
Financial Instruments:
Recognition and January 1, 2005
Measurement

PAS 40 Investment Property January 1, 2005

PAS 41 Agriculture January 1, 2005

Philippine
Interpretations

Number Title Effective date

Philippine Interpretation
IFRIC-1 Changes in Existing
Decommissioning, January 1, 2005
Restoration and Similar
Liabilities
Philippine Interpretation
IFRIC-2 Members’ Shares in Co-
operative Entities and January 1, 2005
Similar Instruments

Philippine Interpretation Determining whether an

IFRIC-4 Arrangement contains a January 1, 2006
Lease
Philippine Interpretation
IFRIC-5 Rights to Interests
arising from
Decommissioning, January 1, 2006
Restoration and
Environmental
Rehabilitation Funds

Philippine Interpretation
IFRIC-6 Liabilities arising from
Participating in a Specific
Market—Waste December 1, 2005
Electrical and Electronic
Equipment

Philippine Interpretation
IFRIC-7 Applying the
Restatement Approach
under PAS 29 Financial March 1, 2006
Reporting in
Hyperinflationary
Economies

Philippine Interpretation Interim Financial

IFRIC-10 Reporting and November 1, 2006
Impairment
Philippine Interpretation
IFRIC-12 Service Concession January 1, 2008
Arrangements
Philippine Interpretation
IFRIC-14 PAS 19—The Limit on a
Defined Benefit Asset,
Minimum Funding January 1, 2008
Requirements and their
Interaction

Philippine Interpretation Hedges of a Net

IFRIC-16 Investment in a Foreign October 1, 2008
Operation
Philippine Interpretation
IFRIC-19 Extinguishing Financial
Liabilities with Equity July 1, 2010
Instruments

Philippine Interpretation Stripping Costs in the

IFRIC-20 Production Phase of a January 1, 2013
Surface Mine
Philippine Interpretation
IFRIC-21 Levies January 1, 2014

Philippine Interpretation
IFRIC-22 Foreign Currency
Transactions and January 1, 2018
Advance Consideration

Philippine Interpretation
IFRIC-23 Uncertainty over Income January 1, 2019
Tax Treatments

Philippine Interpretation
SIC-7 Introduction of the Euro January 1, 2005
Philippine Interpretation
SIC-10 Government Assistance
—No Specific Relation to January 1, 2005
Operating Activities

Philippine Interpretation Operating Leases—

SIC-15 January 1, 2005
Incentives
Philippine Interpretation
SIC-25 Income Taxes—Changes
in the Tax Status of an January 1, 2005
Entity or its
Shareholders

Philippine Interpretation
SIC-27 Evaluating the Substance
of Transactions Involving January 1, 2005
the Legal Form of a
Lease

Philippine Interpretation Service Concession

SIC-29 Arrangements: January 1, 2005
Disclosures
Philippine Interpretation
SIC-32 Intangible Assets—Web January 1, 2005
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