Accounting Alerts
Accounting Alerts
- 2024
- 2023
- 2022
- 2021
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2020
2020
- Extension of Deadline for Submission of Forms/Notices
- Online and Manual Submission of Forms/Notices Pursuant to SEC MC 28-2020
- COVID-19 Accounting Implications for CFOs - Debt Modifications
- Discussion Paper 'Business Combination under Common Control'
- SEC Memorandum Circular No. 32 series of 2020
- SEC Memorandum Circular No. 31 series of 2020
- SEC Memorandum Circular No. 28 series of 2020
- Insights into PFRS 16 - Lease Incentives
- IASB issues Interest Rate Benchmark Reform Phase 2
- IFRIC 23 - Uncertainty Over Income Tax Treatments
- COVID-19 Going Concern Considerations
- Extension of Deadlines and Interim Procedures for the Submission of Printed/Hard Copies of Annual Reports
- IASB Defers the Effective Date of IAS 1 Amendments
- Guidelines on the Electronic Submission of the Annual Report and Audited Financial Statements to BSP
- Filing of Annual Reports During the Temporary Closure of the SEC Main Office until July 26, 2020
- Work Suspension at the SEC Main Office and Extension of Deadlines for Certain Corporations
- Adjustment of Deadlines for Submission of Annual Reports to the SEC and Other Announcements
- Amendments to IFRS 17 and IFRS 4
- Filing of Reports and Other Documents in SEC Main Office during Temporary Closure
- Options for the Submission of Reports, Applications and Other Documents to the SEC During Community Quarantine
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2019
2019
- SEC Extends Deadline for Annual and Quarterly Reports for...
- Deferral of IFRIC Agenda Decision on Over Time Transfer of Constructed Goods (PAS 23) for Real Estate Industry
- Implementation of IFRS 17, Insurance Contracts
- Amendments to Regulations on Financial Audit of Banks and Non-Bank Financial Institutions
- Navigating the Changes to IFRS 2020
- SEC Memorandum Circular No. 2 - 2020 Filing of Annual Financial Statements and General Information Sheet
- IASB issues Classification of Liabilities as Current or Non-current (Amendments to IAS 1)
- GTI IFRS News Q4 2019
- Insights into PFRS 3: Definition of a Business
- IASB issues Interest Rate Benchmark Reform
- Insights into PFRS 16: Presentation and Disclosure
- Insights into PFRS 16: Lease Payments
- Insurance Commission's Guidelines on Lease Accounting for Insurance and Reinsurance Companies
- GTI IFRS News Q1 2019
- Application Deferral of PIC Q&A 2018-H and 2018-14
- Sustainability Reporting Guidelines for Publicly-Listed Companies
- Insights into PFRS 16: Sale and Leaseback Accounting
- Insights into PFRS 16: Transition Choices
- Use of the New General Information Sheet (GIS) Form
- 2019 Filing of Annual FS and GIS
- Navigating the Changes to IFRS 18
- Insights into PFRS 3: Definition of a Business
- GTI IFRS News Q2 2019
- Rules on Material Related Party Transactions for Publicly-listed Companies
- BOA Repealed Resolutions on FS Compilation Services
- GTI IFRS News Q3 2019
- 2019
- 2018 2018
- 2017
- 2016
- 2015
- 2014
- 2008
- 2007
- 2006
- 2005
Telling Your Story: Making financial statements an effective communication tool
The average length of financial statements prepared under International Financial Reporting Standards (IFRS) has been growing for many years, as new Standards are issued and more disclosure requirements are added. The result - cluttered financial statements in which the important information is hard to find. As a result, many companies are taking a fresh look at their financial statements and their process for preparing them; by refocusing their financial statements as a communication tool without losing sight of the need to comply with technical requirements
Get Ready for IFRS 9: Issue 2 - The Impairment Requirements
This Accounting Alert is issued to provide update on all things relating to International Financial Reporting Standards (IFRS) 9, Financial Instruments. Grant Thornton International Ltd has published Get ready for IFRS 9 - the impairment requirements, the second in a series of publications intended to get entities ready for IFRS 9. IFRS 9 (2014), Financial Instruments fundamentally rewrites the accounting rules for financial instruments. While the Standard is not effective until 2018, companies really need to start evaluating its impact now. In this issue, we bring you up to speed with the Standard's new expected credit loss impairment model. See attached document for the details of this publication.
PRC BOA extended deadline for filing of accreditation application for CPAs in commerce and industry
This Accounting Alert is issued to provide additional information about the recently released revised Q&As on the Board of Accountancy (BOA) Resolution No. 3-2016 dated January 19, 2016. The BOA also approved the extension of the deadline for the filing of application for accreditation by CPAs in commerce and industry in its meeting last February 11, 2016 from February 29, 2016 to April 30, 2016. Applicants are required to comply with the Continuing Professional Development (CPD) requirements not later than June 30, 2016 after signing an affidavit of undertaking to that effect.
IFRS News Special Edition on IFRS 16, Leases: Major reforms to global lease accounting
The IASB has published IFRS 16 ‘Leases’ completing its long-running project on lease accounting. IFRS 16 will require lessees to account for leases 'on-balance sheet' by recognizing a 'right-of-use' asset and a lease liability. For many businesses, however, exemptions for short-term leases and leases of low value assets will greatly reduce the impact. This special edition of IFRS News, published by the Grant Thornton International Ltd. IFRS Team, explains the key features of the new Standard and provides practical insights into its application and impact.
Disclosure Initiative (Amendments to IAS 7)
The IASB has issued 'Disclosure Initiative (Amendments to IAS 7)' which makes narrow-scope amendments to IAS 7, Statement of Cash Flows (the Amendments). The purpose of the Amendments is to improve disclosures about an entity's financing activities and changes in related liabilities. The Amendments are effective for annual periods beginning on or after 1 January 2017. Earlier application is permitted.