- Accounting Alerts
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2019
2019
- 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- BOA Repealed Resolutions on FS Compilation Services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
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- 2015
- 2014
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- 2007
- 2006
- 2005
Auditors' report modified effective Dec. 31, 2006
In February 2006, the Auditing & Assurance Standards Council (AASC) approved the adoption of Philippine Standard on Auditing (PSA) 700 (Revised), The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements.
SEC extends deadline for FS filing
The Securities and Exchange Commission (SEC) has extended the deadline for the submission of the audited financial statements for the year ended December 31, 2005 from April 17, 2006 to May 2, 2006. The extension was granted to provide companies more time to prepare their financial statements in accordance with Philippine Financial Reporting Standards which are being applied for the first time in the 2005 financial statements. The extension covers public companies, issuers of registered/unlisted securities and companies listed with the Philippine Stock Exchange (PSE), brokers and dealers and investment houses. The due dates for the submission of audited financial statements for all other companies shall remain the same which is also on May 2, 2006.
2005 Illustrative Separate PFRS FS
This Accounting Alert is issued to provide an illustrative set of financial statements (Illustrative FS), prepared in accordance with generally accepted accounting principles in the Philippines as set forth in Philippine Financial Reporting Standards (PFRSs), for a fictional manufacturing and distribution company of semiconductor products (ABC Manufacturing Company, “ABC” or the “Company”).
SEC issued notice to Pre-need Companies
On its meeting dated February 7, 2006, the Securities and Exchange Commission (SEC) issued a notice to Pre-need companies, mentioning the requirements to be submitted by the latter.
Guidelines on the Filing of Functional Currency FS
In its meeting dated January 10, 2006, the Philippine Securities and Exchange Commission (SEC) resolved to issue SEC Memorandum Circular No. 1, Series 2006, to guide companies whose functional currency (i.e., the currency of the primary economic environment in which the company operates) is other than the Philippine peso.