Philippine Accounting Standards (PAS)
Number Title Effective date
PAS 1 (Revised) Presentation of Financial Statements January 1, 2009
PAS 2 Inventories January 1, 2005
PAS 7 Statement of Cash Flows January 1, 2005
Accounting Policies, Changes in Accounting
PAS 8 January 1, 2005
Estimates and Errors
PAS 10 Events after the Reporting Period January 1, 2005
PAS 11 Construction Contracts January 1, 2005
PAS 12 Income Taxes January 1, 2005
PAS 16 Property, Plant and Equipment January 1, 2005
PAS 17 Leases January 1, 2005
PAS 18 Revenue January 1, 2005
PAS 19 (Revised) Employee Benefits January 1, 2013
Accounting for Government Grants and
PAS 20 January 1, 2005
Disclosure of Government Assistance
The Effects of Changes in Foreign Exchange
PAS 21 January 1, 2005
Rates
PAS 23 (Revised) Borrowing Costs January 1, 2009
PAS 24 (Revised) Related Party Disclosures January 1, 2011
Accounting and Reporting by Retirement
PAS 26 January 1, 2005
Benefit Plans
PAS 27 (Amended) Separate Financial Statements January 1, 2013
Investments in Associates and Joint
PAS 28 (Amended) January 1, 2013
Ventures
Financial Reporting in Hyperinflationary
PAS 29 January 1, 2005
Economies
PAS 32 Financial Instruments: Presentation January 1, 2007
PAS 33 Earnings per Share January 1, 2005
PAS 34 Interim Financial Reporting January 1, 2005
PAS 36 Impairment of Assets January 1, 2005
Provisions, Contingent Liabilities and
PAS 37 January 1, 2005
Contingent Assets
PAS 38 Intangible Assets January 1, 2005
Financial Instruments: Recognition and
PAS 39 January 1, 2005
Measurement
PAS 40 Investment Property January 1, 2005
PAS 41 Agriculture January 1, 2005
International Financial Reporting Standards (IFRS)
# Name Issued
IFRS 1 First-time Adoption of International Financial Reporting 2008*
Standards
IFRS 2 Share-based Payment 2004
IFRS 3 Business Combinations 2008*
IFRS 4 Insurance Contracts 2004
Will be superseded by IFRS 17 as of 1 January 2021
IFRS 5 Non-current Assets Held for Sale and Discontinued 2004
Operations
IFRS 6 Exploration for and Evaluation of Mineral Assets 2004
IFRS 7 Financial Instruments: Disclosures 2005
IFRS 8 Operating Segments 2006
IFRS 9 Financial Instruments 2014*
IFRS 10 Consolidated Financial Statements 2011
IFRS 11 Joint Arrangements 2011
IFRS 12 Disclosure of Interests in Other Entities 2011
IFRS 13 Fair Value Measurement 2011
IFRS 14 Regulatory Deferral Accounts 2014
IFRS 15 Revenue from Contracts with Customers 2014
IFRS 16 Leases 2016
IFRS 17 Insurance Contracts 2017
International Accounting Standard (IAS)
# Name Amendment (Issued)
IAS 1 Presentation of Financial Statements 2007*
IAS 2 Inventories 2005*
IAS 3 Consolidated Financial Statements 1976
Superseded in 1989 by IAS 27 and IAS 28
IAS 4 Depreciation Accounting Withdrawn in 1999
IAS 5 Information to Be Disclosed in Financial 1976
Statements
Superseded by IAS 1 effective 1 July 1998
IAS 6 Accounting Responses to Changing Prices Superseded by IAS 15, which was
withdrawn December 2003
IAS 7 Statement of Cash Flows 1992
IAS 8 Accounting Policies, Changes in Accounting 2003
Estimates and Errors
IAS 9 Accounting for Research and Development Superseded by IAS 38 effective 1
Activities July 1999
IAS 10 Events After the Reporting Period 2003
IAS 11 Construction Contracts Will be superseded by 1993
IFRS 15 as of 1 January 2017
IAS 12 Income Taxes 1996*
IAS 13 Presentation of Current Assets and Current Superseded by IAS 1 effective 1
Liabilities July 1998
IAS 14 Segment Reporting Superseded by IFRS 8 effective 1
(1997) January 2009
IAS 15 Information Reflecting the Effects of Changing Withdrawn December 2003
Prices (2003)
IAS 16 Property, Plant and Equipment 2003*
IAS 17 Leases 2003*
IAS 18 Revenue (1993*) Will be superseded by IFRS 15 as of
1 January 2017
IAS 19 Employee Benefits (1998) Superseded by IAS 19 (2011)
effective 1 January 2013
IAS 19 Employee Benefits (2011) 2011*
IAS 20 Accounting for Government Grants and 1983
Disclosure of Government Assistance
IAS 21 The Effects of Changes in Foreign Exchange Rates 2003*
IAS 22 Business Combinations (1998*) Superseded by IFRS 3 effective 31
March 2004
IAS 23 Borrowing Costs 2007*
IAS 24 Related Party Disclosures 2009*
IAS 25 Accounting for Investments Superseded by IAS 39 and IAS 40
effective 2001
IAS 26 Accounting and Reporting by Retirement Benefit 1987
Plans
IAS 27 Separate Financial Statements (2011) 2011
IAS 27 Consolidated and Separate Financial Statements Superseded by IFRS 10, IFRS 12 and
(2003) IAS 27 (2011) effective 1 January
2013
IAS 28 Investments in Associates and Joint Ventures 2011
(2011)
IAS 28 Investments in Associates Superseded by IAS 28 (2011) and
(2003) IFRS 12 effective 1 January 2013
IAS 29 Financial Reporting in Hyperinflationary 1989
Economies
IAS 30 Disclosures in the Financial Statements of Banks Superseded by IFRS 7 effective 1
and Similar Financial Institutions January 2007 (1990)
IAS 31 Interests In Joint Ventures Superseded by IFRS 11 and IFRS 12
2003* effective 1 January 2013
IAS 32 Financial Instruments: Presentation 2003*
IAS 33 Earnings Per Share 2003*
IAS 34 Interim Financial Reporting 1998
IAS 35 Discontinuing Operations 1998 Superseded by IFRS 5 effective 1
January 2005
IAS 36 Impairment of Assets 2004*
IAS 37 Provisions, Contingent Liabilities and Contingent 1998
Assets
IAS 38 Intangible Assets 2004*
IAS 39 Financial Instruments: Recognition and Superseded by IFRS 9 where IFRS 9
Measurement (2003*) is applied
IAS 40 Investment Property 2003*
IAS 41 Agriculture 2001
