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Minor Amendments to PFRS 16

16 Nov 2022

This Accounting Alert is issued to circulate minor amendments made by the International Accounting Standards Board (IASB) to PFRS 16, Leases, with respect to the requirements for sale and leaseback transactions.

Amendments to PAS 1 - Disclosure on Long-term Debts with Covenants

16 Nov 2022

This Accounting Alert is issued to circulate amendments made by the International Accounting Standards Board (IASB) to PAS 1, Presentation of Financial Statements, to provide better disclosure on long-term debt with covenants

IC Circular Letter No. 2022-17 Guidelines on Materiality Threshold

15 Nov 2022

This Accounting Alert is issued to circulate Insurance Commission (IC) Circular Letter No. 2022-17 (the Circular) dated March 18, 2022.

Insights into PFRS 8 - Segment Information to be Disclosed

18 Oct 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 8, Operating Segments, to assist preparers of financial statements and those charged with the governance of reporting entities understand the requirements set out in PFRS 8 and revisit some areas where confusion has been seen in practice.

Insights into PFRS 8 - Other Application Issues

18 Oct 2022

This Accounting Alert is issued to provide an overview of Philippine Financial Reporting Standards (PFRS) 8, Operating Segments, to assist preparers of financial statements and those charged with the governance of reporting entities understand the requirements set out in PFRS 8 and revisit some areas where confusion has been seen in practice.