The ASC has issued the following amendments to Singapore Financial Reporting Standards (International) (SFRS(I)s) and Financial Reporting Standards (FRSs):
- Annual Improvements to SFRS(I)s 2015-2017 Cycle, effective for annual reporting periods beginning on or after 1 January 2019; and
- Improvements to FRSs (March 2018), effective for annual reporting periods beginning on or after 1 January 2019.
In addition, the ASC has issued the following non-mandatory guidance on Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities):
- SFRS for Small Entities Q&A Section 12, Issue 1: Accounting for financial guarantee contracts in individual or separate financial statements of issuer.
Click here for SFRS(I)s 2015-2017 Cycle and Improvements to FRSs Click here for non-mandatory guidance on SFRS for Small Entities