Singapore Financial Reporting Standards (International)
Changes effective for annual periods beginning after 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 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.

The following are the new/revised/amendments to SFRS(I)s issued up to 31 December 2023 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any practice directions issued or deemed to have been issued, by the Council before 1 April 2023, and which have not been revoked before that date, shall continue in force after that date as if made or formulated or issued by the ASC after that date.

Singapore Financial Reporting Standards (International)

Reference Title Effective Date Issuance Date
Issued in 2017
SFRS(I) 10, SFRS(I) 1-28 Amendments to SFRS(I) 10 and SFRS(I) 1-28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (PDF, 138KB) To be determined 29 Dec 2017
Issued in 2020
SFRS(I) 1-1 Amendments to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current (PDF, 146KB)
 1 Jan 20241 29 May 2020
SFRS(I) 1-1 Amendment to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current—Deferral of Effective Date (PDF, 91KB)
 - 23 Jul 2020
Issued in 2022
SFRS(I) 16 Amendments to SFRS(I) 16: Lease Liability in a Sale and Leaseback (PDF, 191KB) 1 Jan 2024 14 Dec 2022
Various Amendments to SFRS(I) 1-1: Non-current Liabilities with Covenants (PDF, 197KB) 1 Jan 2024 14 Dec 2022
Issued in 2023
SFRS(I) 1-7, SFRS(I) 7 Amendments to SFRS(I) 1-7 and SFRS(I) 7: Supplier Finance Arrangements (PDF, 130KB) 1 Jan 2024 9 Jun 2023
SFRS(I) 1-21, SFRS(I) 1 Amendments to SFRS(I) 1-21: Lack of Exchangeability (PDF, 227KB) 1 Jan 2025 26 Sep 2023
1The mandatory effective date of this Amendment had been revised from 1 Jan 2022 to 1 Jan 2023 by the ASC in Jul 2020 via Amendment to SFRS(I) 1-1: Classification of Liabilities as Current or Non-current—Deferral of Effective Date and further revised to 1 Jan 2024 in Dec 2022 via Amendments to SFRS(I) 1-1: Non-current Liabilities with Covenants.

Other accompanying documents

The SFRS(I)s should be read in the context of the Basis for Conclusions on IFRS Standards issued by the IASB. The Basis for Conclusions summarises the IASB's considerations in developing IFRS Standards. The use of the Basis for Conclusions is subject to the IFRS Foundation's Terms and Conditions (PDF, 171KB) as if they are materials on the IFRS Foundation's website.

Basis for Conclusions on IFRS Standards

Reference Title
IFRS 10, IAS 28 Basis for Conclusions: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (PDF, 299KB)

Basis for Conclusions: Effective Date of Amendments to IFRS 10 and IAS 28 (PDF, 408KB)
IAS 1 Basis for Conclusions: Classification of Liabilities as Current or Non-current (PDF, 160KB)
IAS 1 Basis for Conclusions: Classification of Liabilities as Current or Non-current—Deferral of Effective Date (PDF, 138KB)
IFRS 16 Basis for Conclusions: Lease Liability in a Sale and Leaseback (PDF, 119KB)
Various Basis for Conclusions: Non-current Liabilities with Covenants (PDF, 160KB)
IAS 7, IFRS 7 Basis for Conclusions: Supplier Finance Arrangements (PDF, 173KB)
IFRS 1, IAS 21 Basis for Conclusions: Lack of Exchangeability (PDF, 205KB)
International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), IFRIC Interpretations (IFRIC), SIC Interpretations (SIC)
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