• Philippine Financial Reporting Standards
• Statements of Financial Reporting Standards Effective as of December 2004
  

Preface to Philippine Financial Reporting Standards Framework for the Preparation and Presentation of Financial Statements Philippine Financial Reporting Standards

PFRS	Title	Effective Date*
PFRS 1	First-time Adoption of Philippine Financial Reporting Standards	01/01/05
	Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate	01/01/09**
PFRS 1 (revised)	First-time Adoption of Philippine Financial Reporting Standards	07/01/09**
PFRS 2	Share Based Payment	01/01/05
	Amendments to PFRS 2: Vesting Conditions and Cancellations	01/01/09
PFRS 3	Business Combinations	01/01/05
PFRS 3 (revised)	Business Combinations	07/01/09**
PFRS 4	Insurance Contracts	01/01/05
	Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts	01/01/06
PFRS 5	Non-current Assets Held for Sale and Discontinued Operations	01/01/05
PFRS 6	Exploration for and Evaluation of Mineral Resources	01/01/06
PFRS 7	Financial Instruments: Disclosures	01/01/07
	Amendments to PFRS 7: Transition	01/01/07
	Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets	07/01/08**
	Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets - Effective Date and Transition	07/01/08**
PFRS 8	Operating Segments	01/01/09

Philippine Accounting Standards (PASs)

PAS	Title	Effective Date *
PAS 1	Presentation of Financial Statements	01/01/05
	Amendment to PAS 1: Capital Disclosures	01/01/07
PAS 1 (revised)	Presentation of Financial Statements	01/01/09
	Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation	01/01/09**
PAS 2	Inventories	01/01/05
PAS 7	Cash Flow Statements	01/01/05
PAS 8	Accounting Policies, Changes in Accounting Estimates and Errors	01/01/05
PAS 10	Events after the Balance Sheet Date	01/01/05
PAS 11	Construction Contracts	01/01/05
PAS 12	Income Taxes	01/01/05
PAS 14	Segment Reporting	01/01/05
PAS 16	Property, Plant and Equipment	01/01/05
PAS 17	Leases	01/01/05
PAS 18	Revenue	01/01/05
PAS 19	Employee Benefits	01/01/05
	Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and Disclosures	01/01/06
PAS 20	Accounting for Government Grants and Disclosure of Government Assistance	01/01/05
PAS 21	The Effects of Changes in Foreign Exchange Rates	01/01/05
PAS 23	Borrowing Costs	01/01/05
PAS 23 (revised)	Borrowing Costs	01/01/09
PAS 24	Related Party Disclosures	01/01/05
PAS 26	Accounting and Reporting by Retirement Benefit Plans	01/01/05
PAS 27	Consolidated and Separate Financial Statements	01/01/05
PAS 27 (revised)	Consolidated and Separate Financial Statements	07/01/09**
	Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate	01/01/09**
PAS 28	Investments in Associates	01/01/05
PAS 29	Financial Reporting in Hyperinflationary Economies	01/01/05
PAS 30	Disclosures in the Financial Statements of Banks and Similar Financial Institutions	01/01/05+
PAS 31	Interests in Joint Ventures	01/01/05
PAS 32	Financial Instruments: Presentation	01/01/07++
	Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation	01/01/09**
PAS 33	Earnings per Share	01/01/05
PAS 34	Interim Financial Reporting	01/01/05
PAS 36	Impairment of Assets	01/01/05
PAS 37	Provisions, Contingent Liabilities and Contingent Assets	01/01/05
PAS 38	Intangible Assets	01/01/05
PAS 39	Financial Instruments: Recognition and Measurement	01/01/05
	Amendments to PAS 39: Transition and Initial Recognition of Financial Assets and Financial Liabilities	01/01/05
	Amendments to PAS 39: Cash Flow Hedge Accounting of Forecast Intragroup Transactions	01/01/06
	Amendments to PAS 39: The Fair Value Option	01/01/06
	Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts	01/01/06
	Amendment to PAS 39: Eligible Hedged Items	07/01/09**
	Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets	07/01/08**
	Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets - Effective Date and Transition	07/01/08**
	Amendments to Philippine Interpretation–IFRIC 9 and PAS 39: Embedded Derivatives	06/30/09**
PAS 40	Investment Property	01/01/05
PAS 41	Agriculture	01/01/05
PAS 101	Financial Reporting Standards for Non-publicly Accountable Entities	01/01/05
	Amendment to PAS 101: Change in Effective Date	01/01/05

* Refers to annual periods beginning on or after the effective date indicated. + Superseded by PFRS 7, Financial Instruments: Disclosures, effective January 1, 2007 . ++ Amended by PFRS 7, Financial Instruments: Disclosures, effective January 1, 2007. ** For BOA Approval

Improvements to PFRSs*

Amendments arising from the annual improvements to PFRSs	Effective Date*
Amendments to PAS 1, PAS 16, PAS 19, PAS 20, PAS 23, PAS 27, PAS 28, PAS 29, PAS 36, PAS 39, PAS 40, PAS 41	1/1/09
Amendments to PFRS 5	7/1/09

* For BOA/PRC Approval

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