- Accounting Alerts
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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- BOA Repealed Resolutions on FS Compilation Services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
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2020
2020
- 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
- COVID-19 Accounting Considerations for CFOs: Revenue Recognition
- COVID-19 Accounting Considerations for CFOs: Government Grants
- IASB Amends IFRS 16 to Provide Relief for Lessees Accounting for Rent Concessions during the COVID-19 Pandemic
- COVID-19 Accounting for Lease Modifications
- SEC Notice on the Opening of SEC Express System and SEC Express Nationwide Submission
- Insurance Commission Circular Letters: Regulatory Reliefs, Online Submission of Reports, and Deferral of IFRS 17 Implementation
- COVID-19 Accounting Implications for CFOs: Impairment of Intangible Assets and Goodwill
- IASB Issues Narrow Scope Amendments to IFRS Standards
- Procedures in the Filing of Audited Financial Statements and General Information Sheet after the Enhanced Community Quarantine
- Extension of Deadline for the Submission of 2020 Annual and Quarterly Reports and AFS of Companies with Fiscal Year Ended January 31 to April 30, 2020
- Understanding the Impact of COVID-19 on 2020 Deferred Tax Provisions
- IASB Proposes Relief for Rent Concessions During the COVID-19 Pandemic
- Extension of Period to File the General or Special Form for Financial Statements and Guidelines on Submission by Electronic Mail
- Treatment of Net Unrealized Losses in the EFCDU/FCDU Book for Purposes of Determining Compliance with the EFCDU/FCDU Asset Cover Requirement
- Guidelines on Reclassification of Debt Securities Measured at Fair Value to the Amortized Cost Category for Prudential Reporting to the BSP
- Reporting the Impact of COVID-19 to your Business
- Guidelines on Filing SEC Form 17-LC and 17-C Report
- COVID-19: Financial Reporting and Disclosures
- Reduction in Reserve Requirements
- COVID-19 Outbreak: Accounting Implications
- Guidelines for Filing of Reports through Electronic Mail with the SEC during ECQ Period
- Application of IFRS 9 in Light of the Coronavirus Uncertainty
- [UPDATE] Regulatory Relief for Entities Regulated by the Insurance Commission
- Guidelines on Submission by Electronic Mail of Required Forms and Documents and Recognition of Electronic Signature
- Guidelines for the Filing of General Information Sheet (GIS) During the COVID-19 Outbreak and Enhanced Community Quarantine
- Additional Operational Relief for BSFIs Affected by Measures to Manage the Coronavirus Disease (COVID-19) Situation and its Health and Safety Risks
- Alternative Means of Filing Reports, Communications and Other Documents with the SEC
- SEC Relaxes the Requirements for Extension in the Filing of Annual Reports and/or Audited Financial Statements
- Guidelines Covering the Conduct of Business in the Insurance Commission During the Community Quarantine Period
- SEC Issues Guidelines on the Participation in Regular and Special Meetings through Remote Means of Communication
- Regulatory Relief for...
- SEC Extends Deadline for Annual and Quarterly Reports for Companies affected by Covid-19
- Guidelines on Preventative Measures Against...
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Navigating the Changes to IFRS for CFOs
Overview This publication is designed to give Chief Financial Officers a high-level awareness of recent changes to International Financial Reporting Standards (IFRS) that will affect companies’ future financial reporting. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones. What's new in the 2016 edition The December 2016 edition of the publication has been updated for changes to IFRS that have been published between December 1, 2015 and November 30, 2016. In particular this edition covers the new leasing Standard – IFRS 16, for the first time. The publication now covers March 31, 2016, June 30, 2016, September 30, 2016, December 31, 2016 and March 31, 2017 financial year ends.
Financial Reporting Standards
Topics covered: Annual Improvements to IFRS 2014-2016 Cycle The International Accounting Standards Board (IASB) has published ‘Annual Improvements to International Financial Reporting Standards (IFRS) 2014-2016 Cycle’ which addresses non-urgent (but necessary) minor amendments to three standards.
Second 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 second edition of the year by looking at amendments made by the International Accounting Standards Board (IASB), including changes that have been made to IFRS 15, Revenue from Contracts with Customers. We also remind you of a couple of major pronouncements that some companies will be applying for the first time. We then go on to discuss two major Grant Thornton publications that have been issued in the last quarter. The first is designed to get you up to speed with the new expected credit loss model for financial instruments. The second one looks at how to make your financial statements an effective communication tool.
Enforcement of R.A. No. 9510 over Financing Companies
This Accounting Alert is issued to provide information about the recently released Memorandum Circular No. 3, Series of 2016, issued by the Securities and Exchange Commission (SEC) on the enforcement of Republic Act (RA) No. 9510, Credit Information System Act, over financing companies.
PRC BOA further amended Resolution Nos. 3-2016 and 68-2016
This Accounting Alert is issued to provide information about the recently released Board of Accountancy (BOA) Resolution No. 115-2016, Extending the Deadline in the Filing of Applications for Accreditation of Certified Public Accountants (CPAs) in Commerce and Industry Practice and the Covered Period of the Financial Statements Subject to the Certificate on the Compilation Services Requirement, and Providing for the Review of the Ten Million Peso (P10,000,000.00) Threshold as set Under Resolution No. 03-2016 and 68-2016.