Accounting Alerts

Financial Reporting Bulletins (Revised as of 2022)

This Accounting Alert is issued to circulate the Revised Financial Reporting Bulletins of Securities and Exchange Commission. 

Overview

The Securities and Exchange Commission (SEC or the Commission) updated its existing Financial Reporting Bulletins (FRBs) in view of the changes in the rules and regulations on financial reporting being implemented by the Commission, particularly, the passage of the Revised Securities Regulation Code (SRC) Rule 68 (the Rule), which took effect on October 18, 2019.

The amendments, deletions, and FRBs with no significant changes are summarized below.

Amendments

The changes in the FRBs are enumerated in the table below:

Deletions

The following were deleted in the revised FRBs:

Others

The FRBs still in effect but without significant changes are enumerated below:

  • Bulletin No. 003 – Revised SRC Rule 68: Disclosures of receivables/ payables with related parties eliminated during consolidation (Annex 68-J)
  • Bulletin No. 004 – Companies not covered under Revised SRC Rule 68
  • Bulletin No. 005 – Companies with no operation but are covered under Revised SRC Rule 68
  • Bulletin No. 011 – Non-stock and non-profit organizations
  • Bulletin No. 012 – Annex 68-J – Schedule A. Financial Assets (For Issuers of Securities to the Public)
  • Bulletin No. 014 – Presentation Reconciliation of Retained Earnings
  • Bulletin No. 015 – Appropriation of Retained Earnings for Business Expansion
  • Bulletin No. 019 – Expectations for an Effective Audit Function

 

See attached SEC Financial Reporting Bulletins (Revised 2022) for further details.