Singapore Financial Reporting Standards (International)
Effective for annual reporting period beginning on 1 January 2023
Singapore Financial Reporting Standards (International) (SFRS(I)s) refer to Singapore Financial Reporting Standards (International) and SFRS(I) Interpretations issued by the ASC^.
SFRS(I)s comprise Standards and Interpretations that are equivalent to International Financial Reporting Standards (IFRS Standards) issued by the International Accounting Standards Board (IASB). Table of SFRS(I)s and IFRS Standards can be accessed here (PDF, 109KB).
The ASC’s policy intent is that an entity complying with SFRS(I)s can elect to simultaneously include an explicit and unreserved statement of compliance with IFRS Standards in its first SFRS(I) financial statements, and thereafter, in its subsequent SFRS(I) financial statements.
SFRS(I)s are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As SFRS(I)s are based on IFRS Standards and the copyright to IFRS Standards is owned by the IFRS Foundation, permission to use SFRS(I)s for any other purpose is required from ACRA and the IFRS Foundation with regard to SFRS(I)s and IFRS Standards, respectively.
This collection of SFRS(I)s 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 SFRS(I)s 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any practice directions issued or deemed to have been issued, by the Council before 1 April 2023, and which have not been revoked before that date, shall continue in force after that date as if made or formulated or issued by the ASC after that date.
Statement on Applicability
| Reference | Title |
|---|---|
| Statement on Applicability | Statement on Applicability (PDF, 73KB) |
Preface, Conceptual Framework and Glossary
| Reference | Title |
|---|---|
| Preface | Preface to Singapore Financial Reporting Standards (International) (PDF, 78KB) |
| Framework | The Conceptual Framework for Financial Reporting (PDF, 564KB) |
| Glossary | Glossary (PDF, 447KB) |
Singapore Financial Reporting Standards (International)
| Reference | Title | Accompanying Documents* |
|---|---|---|
| SFRS(I) 1 | First-time Adoption of Singapore Financial Reporting Standards (International) (PDF, 368KB) | IG (PDF, 378KB) |
| SFRS(I) 2 | Share-based Payment (PDF, 347KB) | IG (PDF, 302KB) |
| SFRS(I) 3 | Business Combinations (PDF, 417KB) | IE (PDF, 359KB) |
| SFRS(I) 5 | Non-current Assets Held for Sale and Discontinued Operations (PDF, 191KB) | IG (PDF, 159KB) |
| SFRS(I) 6 | Exploration for and Evaluation of Mineral Resources (PDF, 102KB) | - |
| SFRS(I) 7 | Financial Instruments: Disclosures (PDF, 447KB) | IG (PDF, 328KB) |
| SFRS(I) 8 | Operating Segments (PDF, 164KB) | IG (PDF, 142KB) |
| SFRS(I) 9 | Financial Instruments (PDF, 1241KB) | IE & IG (PDF, 749KB) |
| SFRS(I) 10 | Consolidated Financial Statements (PDF, 412KB) | IE (PDF, 82KB) |
| SFRS(I) 11 | Joint Arrangements (PDF, 264KB) | IE (PDF, 200KB) |
| SFRS(I) 12 | Disclosure of Interests in Other Entities (PDF, 244KB) | - |
| SFRS(I) 13 | Fair Value Measurement (PDF, 363KB) | IE (PDF, 309KB) |
| SFRS(I) 14 | Regulatory Deferral Accounts (PDF, 197KB) | IE (PDF, 185KB) |
| SFRS(I) 15 | Revenue from Contracts with Customers (PDF, 436KB) | IE (PDF, 619KB) |
| SFRS(I) 16 | Leases (PDF, 436KB) | IE (PDF, 376KB) |
| SFRS(I) 17 | Insurance Contracts (PDF, 660KB) | IE (PDF, 764KB) |
| SFRS(I) 1-1 | Presentation of Financial Statements (PDF, 371KB) | IG (PDF, 263KB) |
| SFRS(I) 1-2 | Inventories (PDF, 146KB) | - |
| SFRS(I) 1-7 | Statement of Cash Flows (PDF, 177KB) | IE (PDF, 168KB) |
| SFRS(I) 1-8 | Accounting Policies, Changes in Accounting Estimates and Errors (PDF, 225KB) | IG (PDF, 118KB) |
| SFRS(I) 1-10 | Events after the Reporting Period (PDF, 141KB) | - |
| SFRS(I) 1-12 | Income Taxes (PDF, 366KB) | IE (PDF, 321KB) |
| SFRS(I) 1-16 | Property, Plant and Equipment (PDF, 262KB) | - |
| SFRS(I) 1-19 | Employee Benefits (PDF, 409KB) | - |
| SFRS(I) 1-20 | Accounting for Government Grants and Disclosure of Government Assistance (PDF, 138KB) | - |
| SFRS(I) 1-21 | The Effects of Changes in Foreign Exchange Rates (PDF, 227KB) | - |
| SFRS(I) 1-23 | Borrowing Costs (PDF, 136KB) | IG (PDF, 9KB) |
| SFRS(I) 1-24 | Related Party Disclosures (PDF, 187KB) | IE (PDF, 158KB) |
| SFRS(I) 1-26 | Accounting and Reporting by Retirement Benefit Plans (PDF, 152KB) | - |
| SFRS(I) 1-27 | Separate Financial Statements (PDF, 145KB) | - |
| SFRS(I) 1-28 | Investments in Associates and Joint Ventures (PDF, 181KB) | - |
| SFRS(I) 1-29 | Financial Reporting in Hyperinflationary Economies (PDF, 101KB) | - |
| SFRS(I) 1-32 | Financial Instruments: Presentation (PDF, 353KB) | IE (PDF, 302KB) |
| SFRS(I) 1-33 | Earnings per Share (PDF, 246KB) | IE (PDF, 285KB) |
| SFRS(I) 1-34 | Interim Financial Reporting (PDF, 220KB) | IE (PDF, 146KB) |
| SFRS(I) 1-36 | Impairment of Assets (PDF, 378KB) | IE (PDF, 366KB) |
| SFRS(I) 1-37 | Provisions, Contingent Liabilities and Contingent Assets (PDF, 243KB) | IG (PDF, 183KB) |
| SFRS(I) 1-38 | Intangible Assets (PDF, 316KB) | IE (PDF, 70KB) |
| SFRS(I) 1-39 | Financial Instruments: Recognition and Measurement (PDF, 349KB) | IE & IG (PDF, 200KB) |
| SFRS(I) 1-40 | Investment Property (PDF, 286KB) | - |
| SFRS(I) 1-41 | Agriculture (PDF, 202KB) | IE (PDF, 98KB) |
SFRS(I) Interpretations
The following amendment to SFRS(I)s issued in May 2023 includes changes to the requirements in SFRS(I)s 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 SFRS(I)s.
| Reference | Title | Effective Date | Issuance Date |
|---|---|---|---|
| SFRS(I) 1-12 |
Amendments to SFRS(I) 1-12: International Tax Reform—Pillar Two Model Rules (PDF, 133KB) |
Refer to document | 23 May 2023 |
Other supporting documents
Basis for Conclusions on IFRS Standards
The Conceptual Framework and SFRS(I)s should be read in the context of the Basis for Conclusions on IFRS Conceptual Framework and IFRS Standards issued by the IASB. The Basis for Conclusions is not part of IFRS Conceptual Framework and IFRS Standards. It summarises the IASB's considerations in developing IFRS Conceptual Framework and IFRS Standards. The use of the Basis for Conclusions is subject to the IFRS Foundation's Terms and Conditions (PDF, 171KB) as if it is published on the IFRS Foundation's website.
Basis for Conclusions on IFRS Standards
| Reference | Title |
|---|---|
| Framework | The Conceptual Framework for Financial Reporting (PDF, 352KB) |
Agenda decisions
The IFRS Interpretations Committee works with the IASB in supporting the consistent application of IFRS Standards, such as by responding to questions submitted regarding IFRS Standards. If the IFRS Interpretations Committee decides not to add a standard-setting project to address a question submitted, it publishes an agenda decision to explain its decision. Agenda decisions often include explanatory material, which explains how the applicable principles and requirements in IFRS Standards apply to the question submitted. Explanatory material derives its authority from IFRS Standards themselves. Accordingly, an entity is required to apply the applicable IFRS Standard(s), reflecting the explanatory material in an agenda decision (subject to it having sufficient time to implement that accounting). Agenda decisions can be accessed on the IFRS Foundation's website.
Archives
Archived documents can be accessed here.
