Financial Reporting Standards
Effective for annual reporting period beginning on 1 January 2021
Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC.
FRSs issued by the ASC 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 the ASC and the IFRS Foundation with regard to FRSs and IFRS Standards, respectively.
This collection of FRSs includes official pronouncements issued by the ASC up to 31 December 2020 and are required to be applied for annual reporting period beginning on 1 January 2021. The collection does not include new/revised/amendments to FRSs which are effective for annual reporting periods beginning after 1 January 2021.
Preface and Conceptual Framework
| Reference | Title |
|---|---|
| Preface | Preface to Financial Reporting Standards (PDF, 113KB) Preface to Interpretations of Financial Reporting Standards (PDF, 26KB) |
| Framework | The Conceptual Framework for Financial Reporting (PDF, 629KB) |
Financial Reporting Standards
# Amendments to FRS 12: International Tax Reform—Pillar Two Model Rules (the Amendment) issued in May 2023 includes changes to the requirements in FRSs that are effective immediately with retrospective application. Entities are required to consider the applicability of the Amendment when applying the requirements in the above collection of FRSs. The Amendment can be accessed here.
Interpretations of Financial Reporting Standards
Please click here (ZIP, 23247KB) to download all the FRSs and INT FRSs in the 2021 volume.
Archives
Archived documents can be accessed here.
