Accounting Standards in the Philippines are adopted from the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).  Philippine Financial Reporting Standards (PFRS) are issued by the Financial Reporting Standard Council (FRSC).  Following are the list of issued standards (effective and not yet effective):

Unaccompanied PFRSs

  • Preface
  • Framework
  • PFRS 1 First-time Adoption of International Financial Reporting Standards
  • PFRS 2 Share-based Payment
  • PFRS 3 Business Combinations
  • PFRS 4 Insurance Contracts
  • PFRS 5  Non-current Assets Held for Sale and  Discontinued Operations
  • PFRS 6 Exploration for and evaluation of Mineral Resource
  • PFRS 7  Financial Instruments: Disclosures
  • PFRS 8 Operating Segments
  • PFRS 9 Financial Instruments
  • PFRS 10 Consolidated Financial Statements
  • PFRS 11 Joint Arrangements
  • PFRS 12 Disclosure of Interests in Other Entities
  • PFRS 13 Fair Value Measurement
  • PFRS 14 Regulatory Deferral Accounts
  • PFRS 15 Revenue from Contracts with Customers

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