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Navigating the Changes to IFRS for CFOs

15 Dec 2016

Overview This publication is designed to give Chief Financial Officers a high-level awareness of recent changes to International Financial Reporting Standards (IFRS) that will affect companies’ future financial reporting. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones. What's new in the 2016 edition The December 2016 edition of the publication has been updated for changes to IFRS that have been published between December 1, 2015 and November 30, 2016. In particular this edition covers the new leasing Standard – IFRS 16, for the first time. The publication now covers March 31, 2016, June 30, 2016, September 30, 2016, December 31, 2016 and March 31, 2017 financial year ends.

Financial Reporting Standards

14 Dec 2016

Topics covered: Annual Improvements to IFRS 2014-2016 Cycle ​The International Accounting Standards Board (IASB) has published ‘Annual Improvements to International Financial Reporting Standards (IFRS) 2014-2016 Cycle’ which addresses non-urgent (but necessary) minor amendments to three standards​.

Second Quarter Edition of IFRS News

02 May 2016

This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We begin this second edition of the year by looking at amendments made by the International Accounting Standards Board (IASB), including changes that have been made to IFRS 15, Revenue from Contracts with Customers. We also remind you of a couple of major pronouncements that some companies will be applying for the first time. We then go on to discuss two major Grant Thornton publications that have been issued in the last quarter. The first is designed to get you up to speed with the new expected credit loss model for financial instruments. The second one looks at how to make your financial statements an effective communication tool.

Enforcement of R.A. No. 9510 over Financing Companies

26 Apr 2016

This Accounting Alert is issued to provide information about the recently released Memorandum Circular No. 3, Series of 2016, issued by the Securities and Exchange Commission (SEC) on the enforcement of Republic Act (RA) No. 9510, Credit Information System Act, over financing companies.

PRC BOA further amended Resolution Nos. 3-2016 and 68-2016

26 Apr 2016

This Accounting Alert is issued to provide information about the recently released Board of Accountancy (BOA) Resolution No. 115-2016, Extending the Deadline in the Filing of Applications for Accreditation of Certified Public Accountants (CPAs) in Commerce and Industry Practice and the Covered Period of the Financial Statements Subject to the Certificate on the Compilation Services Requirement, and Providing for the Review of the Ten Million Peso (P10,000,000.00) Threshold as set Under Resolution No. 03-2016 and 68-2016.