Singapore Financial Reporting Standard for Small Entities
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The Singapore Financial Reporting Standard for Small Entities (SFRS for Small Entities) issued by the ASC is published for your personal non-commercial use only, subject to the Terms and Conditions of Use of this Web Site. The SFRS for Small Entities is based on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the International Accounting Standards Board. As the copyright to the IFRS for SMEs is owned by the IFRS Foundation, permission to use the SFRS for Small Entities for any other purpose is required from the ASC and the IFRS Foundation with regard to the SFRS for Small Entities and the IFRS for SMEs, respectively.

Effective for annual periods beginning on or after 1 Jan 2011, but before 1 Jan 2017

This SFRS for Small Entities is required to be applied for annual periods beginning on or after 1 January 2011.
No. Title Issuance Date
1 ASC Statement on Applicability (PDF, 238KB) 30 Nov 2010
2 Singapore Financial Reporting Standard for Small Entities (PDF, 1538KB) 30 Nov 2010
3 Illustrative Financial Statements, and Presentation and Disclosure Checklist (PDF, 717KB) -
4 Non-mandatory Q&As for SFRS for Small Entities  
  Q&A No. 1: Entities that typically have public accountability (PDF, 122KB) 19 Apr 2012
  Q&A No. 2: Interpretation of 'traded in a public market' in applying the SFRS for Small Entities (PDF, 154KB) 19 Apr 2012
  Q&A No. 3: Application of 'undue cost or effort' (PDF, 147KB) 16 Aug 2012
  Q&A No. 4: Recycling of cumulative exchange differences on disposal of a subsidiary (PDF, 109KB) 16 Aug 2012
  Q&A No. 5: Fallback to FRS 109 Financial Instruments (PDF, 49KB) 11 Dec 2014

Changes effective for annual periods beginning on or after 1 Jan 2017

The following are amendments to the SFRS for Small Entities issued by the ASC that are effective for annual periods beginning on or after 1 January 2017.

No. Title Effective Date Issuance Date
1 Amendments to ASC Statement on Applicability (PDF, 248KB) 1 Jan 2017 19 Nov 2015
2 Amendments to the Singapore Financial Reporting Standard for Small Entities (PDF, 526KB) 1 Jan 2017 19 Nov 2015
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