Effective

PFRS Title Date

First-time Adoption of Philippine Financial Reporting

PFRS 1 Standards[superseded
Standards [superseded by PFRS 1 (Revised)]  1/1/2005
Amendments to PFRS 1 and PAS 27: Cost of an
Investment in a Subsidiary, Jointly Controlled Entity or
Associate 1 /1 /2 0 0 9
PFRS 1 First-time Adoption of Philippine Financial Reporting
(Revised) Standards 7/1/2009
Amendments to PFRS 1: Additional Exemptions for First-
time Adopters 1/1/2010
Amendment to PFRS 1: Limited Exemption from
Comparative PFRS 7 Disclosures for First-time
Adopters 7/1/2010
Amendments to PFRS 1: Severe Hyperinflation and
Removal of Fixed Date for First-time Adopters 07/01/11*
PFRS 2 Share-based Payment 1 /1 /2 0 0 5
Amendments to PFRS 2: Vesting Conditions and
Cancellations 1/1/2009
Amendments to PFRS 2: Group Cash-settled Share-
based Payment Transactions 1 / 1 /2 0 1 0
Business Combinations[superseded
Combinations[superseded by PFRS 3 
PFRS 3 (Revised)]  1/1/2005
PFRS 3
(Revised) Business Combinations 7/1/2009
PFRS 4 Insurance Contracts 1 /1 /2 0 0 5
Amendments to PAS 39 and PFRS 4: Financial
Guarantee Contracts 1 /1 /2 0 0 6
Non-current Assets Held for Sale and Discontinued
PFRS 5 Operations 1 /1 /2 0 0 5

PFRS 6 Exploration for and Evaluation of Mineral Resources 1/1/2006

PFRS 7 Financial Instruments: Disclosures 1/1/2007
Amendments to PFRS 7: Transition 1/1/2007
Amendments to PAS 39 and PFRS 7: Reclassification
of Financial Assets 7/1/2008

Amendments to PAS 39 and PFRS 7: Reclassification

of Fi
Financi
cia
al Ass
Asse
ets - Ef
Effect
ctiive Da
Date an
and Tra
Tran
nsition 7 / 1 /2 0 0 8
Amendments to PFRS 7: Improving Disclosures about
Financial Instruments 1 /1 /2 0 0 9
Amendments to PFRS 7: Disclosures - Transfers of
Financial Assets 7 / 1 /2 0 1 1
Amendments to PFRS 7: Disclosures - Offsetting
Financial Assets and Financial Liabilities 01/01/13*

Amendments to PFRS 9 and PFRS 7: Mandatory

Effe
Effect
ctiv
ive
e Dat
Date
e of
of PFR
PFRS
S 9 and
and Tr
Tran
ansi
siti
tion
on Di
Disc
sclo
losu
sure
res
s 01/0
01/01/
1/15
15**
PFRS 8 Operating Segments 1/1/2009
PFRS 9 Financial Instruments 1 /1 /2 0 1 5

Amendments to PFRS 9 and PFRS 7: Mandatory

Effe
Effect
ctiv
ive
e Dat
Date
e of
of PFR
PFRS
S 9 and
and Tr
Tran
ansi
siti
tion
on Di
Disc
sclo
losu
sure
res
s 01/0
01/01/
1/15
15**
PFRS 10 Consolidated Financial Statements 01/01/13*
PFRS 11 Joint Arrangements 01/01/13*
PFRS 12 Disclosure of Interests in Other Entities 01/01/13*
PFRS 13 Fair Value Measurement 01/01/13*

Philippine
Accounting
Standards
(PASs)

Effective
PAS Title Date
Presentation of Financial Statements [superseded by 
PAS 1 PAS 1 (Revised)]  1/1/2005
Amendment to PAS 1: Capital Disclosures 1 /1 /2 0 0 7
PAS 1
(Revised) Presentation of Financial Statements 1 / 1 /2 0 0 9

Amendments to PAS 32 and PAS 1: Puttable Financial

Inst
Instru
rume
ment
nts
s an
and
d Ob
Obli
liga
gattio
ions
ns Ar
Aris
isin
ing
g on Li
Liqu
quid
idat
atio
ion
n 1/1/
1/1/20
2009
09
Amendments to PAS 1: Presentation of Items of Other
Comprehensive Income 07/01/12*
PAS 2 Inventories 1/1/2005
1
PAS 7 Cash Flow Statements 1/1/2005
Accounting Policies, Changes in Accounting Estimates
PAS 8 and Errors 1 / 1 /2 0 0 5
2
P A S 10 Events after the Balance Sheet Date 1/1/2005
P A S 11 Construction Contracts 1 / 1 /2 0 0 5
P A S 12 Income Taxes 1 /1 /2 0 0 5
Amendment to PAS 12 - Deferred Tax: Recovery of
Underlying Assets 01/01/12*
PAS 14 Segment Reporting[superseded
Reporting [superseded by PFRS 8]  1/1/2005
P A S 16 Property, Plant and Equipment 1 /1 / 2 0 0 5
P A S 17 Leases 1 /1 /2 0 0 5
P A S 18 Revenue 1/1/2005
P A S 19 Employee Benefits 1/1/2005
Amendments to PAS 19: Actuarial Gains and Losses,
Group Plans and Disclosures 1/1/2006
PAS 19
(Amended) Employee Benefits 01/01/13*
Accounting for Government Grants and Disclosure of
PAS 20 Government Assistance 1/1/2005

P A S 21 The Effects of Changes in Foreign Exchange Rates 1 /1 /2 0 0 5

Amen
Amendm
dmen
entt: Net
Net Inv
nves
esttme
ment
nt in a For
Forei
eign
gn Ope
pera
rati
tion
on 1/1/
1/1/20
2006
06

PAS 23 Borrowing Costs[superseded

Costs[superseded by PAS 23 (Revised)]  1/1/2005
PAS 23
(Revised) Borrowing Costs 1/1/2009
Related Party Disclosures[superseded
Disclosures [superseded by PAS 24 
PAS 24 (Revised)]  1/1/2005
PAS 24
(Revised) Related Party Disclosures 1/1/2011

P A S 26 Accounting and Reporting by Retirement Benefit Plans 1 /1 / 2 0 0 5

Consolidated and Separate Financial
PAS 27 Statements[superseded
Statements [superseded by PAS 27 (revised)]  1/1/2005
PAS 27
(Revised) Consolidated and Separate Financial Statements 7/1/2009
Amendments to PFRS 1 and PAS 27: Cost of an
Investment in a Subsidiary, Jointly Controlled Entity or
Associate 1 /1 /2 0 0 9
PAS 27
(Amended) Separate Financial Statements 01/01/13*
P A S 28 Investments in Associates 1 / 1 /2 0 0 5
PAS 28
(Amended) Investments in Associates and Joint Ventures 01/01/13*

P A S 29 Financial Reporting in Hyperinflationary Economies 1/1/2005

Disclosures in the Financial Statements of Banks and

PAS 30 Similar Financial Institutions [superseded by PFRS 7]  1/1/2005
P A S 31 Interests in Joint Ventures 1/1/2005

P A S 32 Financial Instruments: Disclosure and Presentation 1 /1 /2 0 0 5

Financial Instruments: Presentation 1/1/2007

Amendments to PAS 32 and PAS 1: Puttable Financial

Inst
Instru
rume
ment
nts
s an
and
d Ob
Obli
liga
gattio
ions
ns Ar
Aris
isin
ing
g on Li
Liqu
quid
idat
atio
ion
n 1/1/
1/1/20
2009
09

Amendmen
Amend mentt to
to PAS
PAS 32: ClClass
assif
ifica
icati
tion
on of Ri
Righ
ghts
ts Is
Issue
sues
s 2/1/
2/1/20
2010
10
Amendments to PAS 32: Offsetting Financial Assets
and Financial Liabilities 01/01/14*
P A S 33 Earnings per Share 1/1/2005
P A S 34 Interim Financial Reporting 1 / 1 /2 0 0 5
P A S 36 Impairment of Assets 1/1/2005

P A S 37 Prov
oviisi
sio
ons, Contingent Li
Liab
abiilities and Contingent Ass
sse
ets 1 / 1 /2 0 0 5
P A S 38 Intangible Assets 1/1/2005

P A S 39 Financial Instruments: Recognition and Measurement 1 /1 /2 0 0 5

Amendments to PAS 39: Transition and Initial

Recogni
Reco gnitio
tion
n of Fin
Financi
ancial
al Asset
Assets
s and
and Finan
Financial
cial Lia
Liabil
biliti
ities
es 1/1/20
1/1/2005
05
Amendments to PAS 39: Cash Flow Hedge Accounting
of Forecast Intragroup Transactions 1/1/2006
Amendments to PAS 39: The Fair Value Option 1/1/2006
Amendments to PAS 39 and PFRS 4: Financial
Guarantee Contracts 1 /1 /2 0 0 6
Amendments to PAS 39 and PFRS 7: Reclassification
of Financial Assets 7/1/2008

Amendments to PAS 39 and PFRS 7: Reclassification

of Financial Assets – Effective Date and Transition 7/1/2008
 Amendments to Philippine Interpretation IFRIC–9
IFRIC–9 and
PAS 39: Embedded Derivatives 6/30/2009
 Amendment to PAS 39: Eligible Hedged Items 7/1/2009
P A S 40 Investment Property 1 /1 / 2 0 0 5
P A S 41 Agriculture 1 /1 /2 0 0 5

Financial Reporting Standards for Non-publicly

PAS 101 Accountable Entities[superseded
Entities [superseded by PFRS for SMEs]  1/1/2005
Ame
men
ndme
men
nt to
to PAS
PAS 10
101
1: Ch
Change in
in Ef
Effec
ecttive Da
Date 1 /1 / 2 0 0 5
1
As a result of the changes in terminology made by
PAS 1 in 2007, the title of PAS 7 was changed
toStatement
to Statement of Cash Flows.
2
As a result of the changes in terminology made by
PAS 1 in 2007, the title of PAS 10 was changed
toEvents
to Period .
Events after the Reporting Period .

Effective
Annual Improvements to PFRSs Date
Improvements to PFRSs (Approved in 2008)
28, PAS 29, PAS 31, PAS 36, PAS 38, PAS 39, PAS 40, PAS 41 1/1/2009
Amendments to PFRS 5 7/1/2009
Improvements to PFRSs (Approved in 2009)
Philippine Interpretation IFRIC–16 7/1/2009
39 1/1/2010
Amendment to PAS 18, Appendix (N/A)
Improvements to PFRSs (Approved in 2010)
PAS 21, PAS 28 and PAS 31 made as a result of PAS 27 (Revised) 7/1/2010
Interpretation IFRIC–13 1/1/2011

For
BOA/PRC
* Approval