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Publications, Other technical publications
Application of FRS 115 Revenue from Contracts with Customers: Revenue Recognition for Sale of Uncompleted Residential Properties in Singapore
02 Oct 2017
In Singapore, it is a common market practice for residential properties to be sold off-plan i.e. before the construction is completed (“uncompleted residential properties”).
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Publications, Other technical publications
IFRS Convergence 2018 Implementation Roadmap
02 Oct 2017
In collaboration with the Singapore Institute of Directors (SID), ISCA through its Financial Reporting Committee's Core Sub-Committee, has developed this publication to provide guidance on how to navigate the maze of accounting change that IFRS Convergence exercise requires.
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Publications, Other technical publications
IFRS Convergence: Are you on Track?
29 Nov 2016
On 30 November 2016, ASC reminded Singapore-incorporated companies listed on the Singapore Exchange (Singapore-listed companies) of the requirement to apply a new Singapore financial reporting framework that will be identical to the International Financial Reporting Standards (full IFRS convergence) in 2018.
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Publications, Other technical publications
Application of FRS 110 Consolidated Financial Statements: Consolidation of Real Estate Investment Trusts (REITs) Manager by Sponsors
29 Apr 2015
Following the issuance of FRS 110 Consolidated Financial Statements (“FRS 110”), investments in Real Estate Investment Trusts (“REITs”) was identified as an industry that was significantly impacted on adoption of the standard.
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Publications, Other technical publications
Residential Property Developments in Singapore: Accounting for Qualifying Certificate Extension Charges and Additional Buyer’s Stamp Duty
09 Jan 2015
With the economy slowdown and uncertainties surrounding the market outlook, the private residential property index continued to fall in 2016.
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Publications, Other technical publications
The new Consolidation Standards – FRS 110, 111 & 112 and revised FRS 27 & 28
02 Dec 2013
Following the issuance of the suite of consolidation standards, namely International Financial Reporting Standard (IFRS) 10, 11 and 12, the ISCA Financial Reporting Committee set up an IFRS 10 Working Group (the Working Group) in 2011, comprising experienced technical accounting professionals from the large public accounting firms.
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Other technical publications
INT FRS 115 Agreements for the Construction of Real Estate and the Accompanying Note on Application of INT FRS 115 in Singapore
19 Dec 2011
On 26 August 2010, the Accounting Standards Council (ASC) issued INT FRS 115 Agreements for the Construction of Real Estate and an Accompanying Note (AN), which is an integral part of INT FRS 115.
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Publications, Other technical publications
IAS 1 Presentation of Financial Statements: Current/Non-Current Classification of a Callable Term Loan
30 Dec 2010
The International Accounting Standards Board's IFRS Interpretations Committee received a request to review the classification of a liability as current or non-current when the liability is not scheduled for repayment within twelve months after the reporting period, but may be callable by the lender at any time without cause (i.e. callable term loans).
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Publications, Other technical publications
Key Features and Comparisons of FRS 1 (Revised 2008) with Previous Version
31 Mar 2010
FRS 1 (Revised 2008) Presentation of Financial Statements was issued by the Accounting Standards Council in March 2008. FRS 1 (Revised 2008) replaces the FRS 1 (Revised in 2006) and amended in 2007.
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Publications, Other technical publications
Preparation of Financial Statements in Singapore
31 Dec 2008
Section 201 of the Singapore Companies Act (Cap. 50) describes the requirements for directors of Singapore incorporated companies to prepare financial statements that comply with Accounting Standards (also commonly known as Financial Reporting Standards).
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