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Application of PFRS 17 for Health Maintenance Organizations

10 Mar 2022

This Accounting Alert is issued to circulate Insurance Commission (IC/Commission) Circular Letter (CL) No. 2022-12 dated March 7, 2022 applicable to all health maintenance organizations (HMOs) on the application of Philippine Financial Reporting Standards (PFRS) 17, Insurance Contracts.

SEC 2022 Schedule for Filing of the Audited Financial Statements and General Information Sheet

11 Feb 2022

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC or the Commission) Memorandum Circular No 02 (MC/the Circular) series of 2022 dated January 19, 2021.

Year-end Reminders on Debt Modifications, Impairment, Going Concern, CREATE Act, and Transfer Pricing

26 Jan 2022

This Accounting Alert is issued to provide a reminder to companies on their assessment and accounting for debt modifications, impairment, going concern, CREATE Act, and transfer pricing.

Configuration or Customization Costs in a Cloud Computing Arrangement

26 Jan 2022

This Accounting Alert is issued to circulate International Financial Reporting Standards (IFRS) Viewpoint on treatment and accounting configuration or customization costs in a cloud computing arrangement.

IASB provides transition option to insurers applying IFRS 17

24 Jan 2022

This Accounting Alert is issued to summarize the amendments to IFRS 17, Insurance Contracts, issued by the IASB on December 9, 2021 to provide insurers with transition options in applying IFRS 17.