FRSC Approves Issuance of Three PIC Q&As (11-11)
November 2011
The Financial Reporting Standards Council (FRSC) has approved on November 23, 2011 the issuance of three Q&As approved by the Philippine Interpretations Committee (PIC):
- Q&A No. 2011-01: PAS 1.10(f) - Requirements for a Third Statement of Financial Position
- Q&A No. 2011-02: PFRS 3.2 - Common Control Business Combinations
- Q&A No. 2011-03: Accounting for Inter-company Loans
The FRSC has submitted the Q&As to the Board of Accountancy for approval.
The Q&As are posted in the FRSC website under Interpretations.