Financial Reporting Standards
Effective for annual reporting period beginning on 1 January 2023
Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC^.
FRSs are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As FRSs are based on International Financial Reporting Standards (IFRS Standards) issued by the International Accounting Standards Board and the copyright to IFRS Standards is owned by the IFRS Foundation, permission to use FRSs for any other purpose is required from ACRA and the IFRS Foundation with regard to FRSs and IFRS Standards, respectively.
This collection of FRSs includes official pronouncements issued up to 31 December 2022 and are required to be applied for annual reporting period beginning on 1 January 2023. The collection does not include new/revised/amendments to FRSs which are effective for annual reporting periods beginning after 1 January 2023.
^ Pursuant to the Accountancy Functions (Consolidation) Act 2022, any accounting standards made or formulated or deemed to have been made or formulated, and any practice directions issued or deemed to have been issued, by the Council before 1 April 2023, and which have not been revoked before that date, shall continue in force after that date as if made or formulated or issued by the ASC after that date.Preface and Conceptual Framework
| Reference | Title |
|---|---|
| Preface | Preface to Financial Reporting Standards (PDF, 97KB) |
| Framework | The Conceptual Framework for Financial Reporting (PDF, 626KB) |
Financial Reporting Standards
Interpretations of Financial Reporting Standards
Please click here (23768 KB) to download all the FRSs and INT FRSs in the 2023 volume.
The following amendment to FRSs issued in May 2023 includes changes to the requirements in FRSs that are effective either immediately with retrospective application or for annual reporting periods beginning on 1 January 2023. Entities are required to apply those changes when applying the requirements in the above collection of FRSs.
| Reference | Title | Effective Date | Issuance Date |
|---|---|---|---|
| FRS 12 | Amendments to FRS 12: International Tax Reform—Pillar Two Model Rules (PDF, 107KB) | Refer to document | 23 May 2023 |
Archives
Archived documents can be accessed here.
