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SEC Extends Deadline for Annual and Quarterly Reports for...

16 Mar 2020

This accounting alert circulates SEC's memorandum circular on the extension of the deadline to give corporations affected by the outbreak of the new coronavirus disease more time to submit their annual and quarterly reports.

Navigating the Changes to IFRS 2020

07 Feb 2020

This accounting alert provides a summary of the changes to International Financial Reporting Standards (IFRS) that have been published between January 1, 2019 to December 31, 2019.

Amendments to Regulations on Financial Audit of Banks and Non-Bank Financial Institutions

07 Feb 2020

This accounting alert provides a summary of Bangko Sentral ng Pilipinas (BSP) Circulars No. 1074 and 1075, which amends certain regulations concerning the financial audit of BSP-supervised financial institutions (BSFIs).

Implementation of IFRS 17, Insurance Contracts

07 Feb 2020

This accounting alert provides an implementation guide in evaluating the impact of IFRS 17 to the financial statements to insurers.

Deferral of IFRIC Agenda Decision on Over Time Transfer of Constructed Goods (PAS 23) for Real Estate Industry

07 Feb 2020

This accounting alert is issued to circulate Securities and Exchange Commission (SEC) Memorandum Circular No. 04-2020 which defers the implementation of the International Financial Reporting Interpretations Committee (IFRIC) agenda decision which clarify that borrowing costs on inventory for unsold units under construction are not capitalized.

IASB issues Classification of Liabilities as Current or Non-current (Amendments to IAS 1)

31 Jan 2020

This Accounting Alert is issued to circulate the new amendments published by the International Accounting Standards Board (IASB) on classification of liabilities as current or non-current.

SEC Memorandum Circular No. 2 - 2020 Filing of Annual Financial Statements and General Information Sheet

31 Jan 2020

This accounting alert provides reminders to all entities registered with the Securities and Exchange Commission (SEC or the Commission) in relation to the filing of their 2019 Annual Financial Statements (AFS) and General Information Sheet (GIS).

Insights into PFRS 3: Definition of a Business

04 Nov 2019

This Accounting Alert is issued to provide a summary of the amendments issued by the International Accounting Standards Board (IASB) on IFRS 3, Business Combinations, which clarify the definition of a business, with the objective of assisting entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition.

Insights into PFRS 3: Definition of a Business

04 Nov 2019

This Accounting Alert is issued to provide a summary of the amendments issued by the International Accounting Standards Board (IASB) on IFRS 3, Business Combinations, which clarify the definition of a business, with the objective of assisting entities to determine whether a transaction should be accounted for as a business combination or as an asset acquisition.

GTI IFRS News Q4 2019

04 Nov 2019

This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We'll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.