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Accounting Alerts
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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
Illustrative 2006 Financial Statements
An Accounting Alert (see attached AA 2007-01) is issued to provide an illustrative set of separate financial statements (FS), including notes to FS, and a set of consolidated basic FS with selected note disclosures that are applicable only to consolidated FS (hereinafter referred to as the Illustrative FS), prepared in accordance with Philippine Financial Reporting Standards (PFRSs), for fictional manufacturing and distribution companies of semiconductor products [i.e., PNA Manufacturing Corporation, “PNA” or the “Company” (for separate FS), and Granthor Holdings Philippines, Inc. and subsidiaries, “Granthor and subsidiaries” or the “Group” (for the consolidated FS with selected notes to FS)].
BSP Exempts Reclassification of Foreign Currency
The Monetary Board approved on January 11, 2007 the guidelines exempting the reclassification of foreign currency denominated National Government (NG)/Bangko Sentral ng Pilipinas (BSP) bonds booked under the Held to Maturity (HTM) category from the tainting rule provided under Circular No. 476 dated February 16, 2005, in view of the increase in risk-weights of said securities under Circular No. 538 dated 4 August 2006, set to take effect on July 1, 2007.
BSP Imposes Specific Ceilings on Bank Lending
The Monetary Board (MB) approved on January 11, 2007 specific ceilings on a bank’s/quasi-bank’s lending to its subsidiaries and affiliates.