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
PRC BOA issued Q&A on Resolution No. 3-2016 on Financial Statements Preparation
This Accounting Alert is issued to provide additional information about the recently released summary of clarifications (through a question and answer [Q&A] format) on Board of Accountancy (BOA) Resolution No. 3-2016 dated January 19, 2016.
Guidelines on CPA Accreditation Requirement of BOA Resolution No. 3, Series of 2016
This Alert discusses the requirements of the Philippine Regulatory Board of Accountancy (“BOA”) with respect to the accreditation of Certified Public Accountants (“CPAs”) who will prepare the Certificate of Compilation Services for the Preparation of Financial Statements (“FS”) and Notes thereto (the “Certificate”) as provided by BOA’s Resolution No. 3, Series of 2016, Requiring the Submission of Certificate by the Responsible Certified Public Accountants on the Compilation Services for the Preparation of Financial Statements and Notes thereto, dated January 19, 2016 (the “Resolution”), which mandatorily applies for statutory financial information covering reporting periods ending June 30, 2016 and subsequent thereto filed with the Philippine Securities and Exchange Commission (“SEC”) and the Bureau of Internal Revenue (“BIR”), particularly:
First Quarter Edition of IFRS News
This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We begin this first edition of 2016 by looking at IFRS 16, the new Standard on lease accounting which was published by the IASB on January 13, 2016. We then move on to items currently in the International Accounting Standards Board (IASB)’s pipeline before taking a look at issues that regulators are likely to focus on in the coming months. Further on in the newsletter, you will find IFRS-related news at Grant Thornton and a general round-up of financial reporting developments. We finish with a summary of the implementation dates of newer Standards that are not yet mandatory, and a list of IASB publications that are out for comment.
PRC BOA's Rules on Financial Statements Preparation Take Effect for 2015 Financial Statements
This Accounting Alert is issued to provide information about the recent Board of Accountancy (BOA) Resolution No. 3-2016 dated January 19, 2016. The BOA has signed the rules on the preparation of the Certificate of Compilation Services for the Preparation of Financial Statements (FS) and Notes thereto ("the Certificate").
Amendments to IAS 12
The IASB has issued 'Recognition of Deferred Tax Assets for Unrealised Losses' which makes narrow-scope amendments to IAS 12, Income Taxes (the Amendments). The focus of the Amendments is to clarify how to account for deferred tax assets related to debt instruments measured at fair value, particularly where changes in the market interest rate decrease the fair value of a debt instrument below cost. The Amendments are effective for annual periods beginning on or after 1 January 2017. Earlier application is permitted.