14 Questions
What is the topic of IFRIC 16?
Hedges of a Net Investment in a Foreign Operation
Which IFRIC document was withdrawn?
IFRIC 3
What is the topic of IFRIC 12?
Service Concession Arrangements
What is the topic of IFRIC 14?
IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
What is the topic of IFRIC 20?
Stripping Costs in the Production Phase of a Surface Mine
What is the topic of IFRIC 1?
Changes in Existing Decommissioning, Restoration and Similar Liabilities
Which Philippine Accounting Standard (PAS) is related to the Statement of Cash Flows?
PAS 7
Which standard is related to the accounting for government grants and disclosure of government assistance?
PAS 20
Which standard has been superseded by PFRS 15 for periods beginning on or after January 1, 2018?
PAS 18
Which standard is related to the presentation of financial statements?
PAS 1
Which International Financial Reporting Standard (IFRS) is related to business combinations?
PFRS 3
Which standard is related to the impairment of assets?
PAS 36
Which standard is related to the disclosure of interests in other entities?
PFRS 12
Which standard is related to financial instruments: recognition and measurement?
PAS 39
Study Notes
Philippine Accounting Standards (PAS)
- PAS 1 deals with the Presentation of Financial Statements
- PAS 2 deals with Inventories
- PAS 7 deals with the Statement of Cash Flows
- PAS 8 deals with Accounting Policies, Changes in Accounting Estimates and Errors
- PAS 10 deals with Events after the Reporting Period
- PAS 11 deals with Construction Contracts
- PAS 12 deals with Income Taxes
- PAS 16 deals with Property, Plant and Equipment
- PAS 17 deals with Leases (superseded by PAS 116 for periods beginning on or after January 1, 2019)
- PAS 18 deals with Revenue (superseded by PFRS 15 for periods beginning on or after January 1, 2018)
- PAS 19 deals with Employee Benefits
- PAS 20 deals with Accounting for Government Grants and Disclosure of Government Assistance
- PAS 21 deals with The Effects of Changes in Foreign Exchange Rates
- PAS 23 deals with Borrowing Costs
- PAS 24 deals with Related Party Disclosures
- PAS 26 deals with Accounting and Reporting by Retirement Benefit Plans
- PAS 27 deals with Separate Financial Statements
- PAS 28 deals with Investments in Associates and Joint Ventures
- PAS 29 deals with Financial Reporting in Hyperinflationary Economies
- PAS 32 deals with Financial Instruments: Presentation
- PAS 33 deals with Earnings per Share
- PAS 34 deals with Interim Financial Reporting
- PAS 36 deals with Impairment of Assets
- PAS 37 deals with Provisions, Contingent Liabilities, and Contingent Assets
- PAS 38 deals with Intangible Assets
- PAS 39 deals with Financial Instruments: Recognition and Measurement (superseded by PFRS 9 for periods beginning on or after January 1, 2018)
- PAS 40 deals with Investment Property
- PAS 41 deals with Agriculture
International Financial Reporting Standards (IFRS)
- PFRS 1 deals with First-time Adoption of Philippine Financial Reporting Standards
- PFRS 2 deals with Share-based Payment
- PFRS 3 deals with Business Combinations
- PFRS 4 deals with Insurance Contracts
- PFRS 5 deals with Non-current Assets Held for Sale and Discontinued Operations
- PFRS 6 deals with Exploration for and Evaluation of Mineral Resources
- PFRS 7 deals with Financial Instruments: Disclosures
- PFRS 8 deals with Operating Segments
- PFRS 9 deals with Financial Instruments
- PFRS 10 deals with Consolidated Financial Statements
- PFRS 11 deals with Joint Arrangements
- PFRS 12 deals with Disclosure of Interests in Other Entities
- PFRS 13 deals with Fair Value Measurement
- PFRS 14 deals with Regulatory Deferral Accounts
- PFRS 15 deals with Revenue from Contracts with Customers
- PFRS 16 deals with Leases
International Financial Reporting Interpretations Committee (IFRIC)
- IFRIC 1 deals with Changes in Existing Decommissioning, Restoration and Similar Liabilities
- IFRIC 2 deals with Members' Shares in Co-operative Entities and Similar Instruments
- IFRIC 3 deals with Emission Rights (withdrawn)
- IFRIC 4 deals with Determining whether an Arrangement contains a Lease
- IFRIC 5 deals with Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
- IFRIC 6 deals with Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment
- IFRIC 7 deals with Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
- IFRIC 8 deals with Scope of IFRS 2
- IFRIC 9 deals with Reassessment of Embedded Derivatives
- IFRIC 10 deals with Interim Financial Reporting and Impairment
- IFRIC 11 deals with IFRS 2—Group and Treasury Share Transactions
- IFRIC 12 deals with Service Concession Arrangements
- IFRIC 13 deals with Customer Loyalty Programmes
- IFRIC 14 deals with IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
- IFRIC 15 deals with Agreements for the Construction of Real Estate
- IFRIC 16 deals with Hedges of a Net Investment in a Foreign Operation
- IFRIC 17 deals with Distributions of Non-cash Assets to Owners
- IFRIC 18 deals with Transfers of Assets from Customers
- IFRIC 19 deals with Extinguishing Financial Liabilities with Equity Instruments
- IFRIC 20 deals with Stripping Costs in the Production Phase of a Surface Mine
- IFRIC 21 deals with Levies
- IFRIC 22 deals with Foreign Currency Transactions and Advance Consideration
- IFRIC 23 deals with Uncertainty over Income Tax Treatments
Test your knowledge of various Philippine Accounting Standards (PAS) including PAS 1 to PAS 19. Covers topics such as financial statements, inventories, cash flows, and more.
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