Singapore Financial Reporting Standards (International)
Effective for annual reporting period beginning on 1 January 2021

Singapore Financial Reporting Standards (International) (SFRS(I)s) refer to Singapore Financial Reporting Standards (International) and SFRS(I) Interpretations issued by the ASC.

SFRS(I)s comprise Standards and Interpretations that are equivalent to International Financial Reporting Standards (IFRS Standards) issued by the International Accounting Standards Board (IASB). Table of SFRS(I)s and IFRS Standards can be accessed here (PDF, 97KB)

The ASC’s policy intent is that an entity complying with SFRS(I)s can elect to simultaneously include an explicit and unreserved statement of compliance with IFRS Standards in its first SFRS(I) financial statements, and thereafter, in its subsequent SFRS(I) financial statements.

SFRS(I)s issued by the ASC are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As SFRS(I)s are based on IFRS Standards and the copyright to IFRS Standards is owned by the IFRS Foundation, permission to use SFRS(I)s for any other purpose is required from the ASC and the IFRS Foundation with regard to SFRS(I)s and IFRS Standards, respectively.

This collection of SFRS(I)s includes official pronouncements issued by the ASC up to 31 December 2020 and are required to be applied for annual reporting period beginning on 1 January 2021. The collection does not include new/revised/amendments to SFRS(I)s which are effective for annual reporting periods beginning after 1 January 2021.

Statement on Applicability

Reference Title
Statement on Applicability Statement on Applicability  (PDF, 340KB)

Preface, Conceptual Framework and Glossary

Reference Title
Preface Preface to Singapore Financial Reporting Standards (International)  (PDF, 53KB)
Framework The Conceptual Framework for Financial Reporting  (PDF, 644KB)
Glossary Glossary  (PDF, 445KB)

Singapore Financial Reporting Standards (International)

Reference Title Accompanying Documents*
SFRS(I) 1 First-time Adoption of Singapore Financial Reporting Standards (International)  (PDF, 368KB) IG  (PDF, 417KB)
SFRS(I) 2 Share-based Payment  (PDF, 375KB) IG  (PDF, 363KB)
SFRS(I) 3 Business Combinations  (PDF, 426KB) IE  (PDF, 507KB)
SFRS(I) 4 Insurance Contracts  (PDF, 348KB)

Appendix D.1 SFRS(I) 1-39 Financial Instruments: Recognition and Measurement (For entities applying the temporary exemption from SFRS(I) 9)  (PDF, 780KB)

Appendix D.2 SFRS(I) INT 9 Reassessment of Embedded Derivatives (For entities applying the temporary exemption from SFRS(I) 9)  (PDF, 110KB)

Appendix D.3 Other SFRS(I)s excluding amendments by SFRS(I) 9 Financial Instruments (For entities applying the temporary exemption from SFRS(I) 9)  (PDF, 459KB)
IG  (PDF, 416KB)

IE  (PDF, 202KB), IG  (PDF, 1035KB)

-


IG  (PDF, 412KB)
SFRS(I) 5 Non-current Assets Held for Sale and Discontinued Operations  (PDF, 206KB) IG  (PDF, 182KB)
SFRS(I) 6 Exploration for and Evaluation of Mineral Resources  (PDF, 114KB) -
SFRS(I) 7 Financial Instruments: Disclosures  (PDF, 469KB) IG  (PDF, 399KB)
SFRS(I) 8 Operating Segments  (PDF, 177KB) IG  (PDF, 160KB)
SFRS(I) 9 Financial Instruments  (PDF, 1205KB) IE & IG  (PDF, 915KB)
SFRS(I) 10 Consolidated Financial Statements  (PDF, 446KB) IE  (PDF, 87KB)
SFRS(I) 11 Joint Arrangements  (PDF, 289KB) IE  (PDF, 214KB)
SFRS(I) 12 Disclosure of Interests in Other Entities  (PDF, 268KB) -
SFRS(I) 13 Fair Value Measurement  (PDF, 391KB) IE  (PDF, 3843KB)
SFRS(I) 14 Regulatory Deferral Accounts  (PDF, 213KB) IE  (PDF, 224KB)
SFRS(I) 15 Revenue from Contracts with Customers  (PDF, 471KB) IE  (PDF, 682KB)
SFRS(I) 16 Leases  (PDF, 470KB) IE  (PDF, 439KB)
SFRS(I) 1-1 Presentation of Financial Statements  (PDF, 372KB) IG  (PDF, 337KB)
SFRS(I) 1-2 Inventories  (PDF, 158KB) -
SFRS(I) 1-7 Statement of Cash Flows  (PDF, 193KB) IE  (PDF, 211KB)
SFRS(I) 1-8 Accounting Policies, Changes in Accounting Estimates and Errors  (PDF, 230KB) IG  (PDF, 123KB)
SFRS(I) 1-10 Events after the Reporting Period  (PDF, 152KB) -
SFRS(I) 1-12 Income Taxes # (PDF, 383KB) IE  (PDF, 387KB)
SFRS(I) 1-16 Property, Plant and Equipment  (PDF, 268KB) -
SFRS(I) 1-19 Employee Benefits  (PDF, 440KB) -
SFRS(I) 1-20 Accounting for Government Grants and Disclosure of Government Assistance  (PDF, 149KB) -
SFRS(I) 1-21 The Effects of Changes in Foreign Exchange Rates  (PDF, 244KB) -
SFRS(I) 1-23 Borrowing Costs  (PDF, 147KB) IG  (PDF, 11KB)
SFRS(I) 1-24 Related Party Disclosures  (PDF, 198KB) IE  (PDF, 167KB)
SFRS(I) 1-26 Accounting and Reporting by Retirement Benefit Plans  (PDF, 160KB) -
SFRS(I) 1-27 Separate Financial Statements  (PDF, 154KB) -
SFRS(I) 1-28 Investments in Associates and Joint Ventures  (PDF, 193KB) -
SFRS(I) 1-29 Financial Reporting in Hyperinflationary Economies  (PDF, 110KB) -
SFRS(I) 1-32 Financial Instruments: Presentation  (PDF, 357KB) IE  (PDF, 369KB)
SFRS(I) 1-33 Earnings per Share  (PDF, 264KB) IE  (PDF, 378KB)
SFRS(I) 1-34 Interim Financial Reporting  (PDF, 323KB) IE  (PDF, 159KB)
SFRS(I) 1-36 Impairment of Assets  (PDF, 399KB) IE  (PDF, 452KB)
SFRS(I) 1-37 Provisions, Contingent Liabilities and Contingent Assets  (PDF, 254KB) IG  (PDF, 191KB)
SFRS(I) 1-38 Intangible Assets  (PDF, 335KB) IE  (PDF, 74KB)
SFRS(I) 1-39 Financial Instruments: Recognition and Measurement  (PDF, 371KB) IE & IG  (PDF, 227KB)
SFRS(I) 1-40 Investment Property  (PDF, 300KB) -
SFRS(I) 1-41 Agriculture  (PDF, 182KB) IE  (PDF, 120KB)
* Include Implementation Guidance (IG), Illustrative Examples (IE), and Information Notes (IN).
# Amendments to SFRS(I) 1-12: International Tax Reform—Pillar Two Model Rules (the Amendment) issued in May 2023 includes changes to the requirements in SFRS(I)s that are effective immediately with retrospective application. Entities are required to consider the applicability of the Amendment when applying the requirements in the above collection of SFRS(I)s. The Amendment can be accessed here.

SFRS(I) Interpretations

Reference Title Accompanying Documents*
SFRS(I) INT 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities  (PDF, 94KB) IE  (PDF, 97KB)
SFRS(I) INT 2 Members' Shares in Co-operative Entities and Similar Instruments  (PDF, 226KB) -
SFRS(I) INT 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds  (PDF, 97KB) -
SFRS(I) INT 6 Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment  (PDF, 185KB) -
SFRS(I) INT 7 Applying the Restatement Approach under SFRS(I) 1-29 Financial Reporting in Hyperinflationary Economies  (PDF, 82KB) IE  (PDF, 123KB)
SFRS(I) INT 10 Interim Financial Reporting and Impairment (PDF, 88KB) -
SFRS(I) INT 12 Service Concession Arrangements  (PDF, 194KB) IN & IE  (PDF, 274KB)
SFRS(I) INT 14 SFRS(I) 1-19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction  (PDF, 208KB) IE  (PDF, 168KB)
SFRS(I) INT 16 Hedges of a Net Investment in a Foreign Operation  (PDF, 172KB) IE  (PDF, 64KB)
SFRS(I) INT 17 Distributions of Non-cash Assets to Owners  (PDF, 96KB) IE  (PDF, 53KB)
SFRS(I) INT 19 Extinguishing Financial Liabilities with Equity Instruments  (PDF, 91KB) -
SFRS(I) INT 20 Stripping Costs in the Production Phase of a Surface Mine  (PDF, 98KB) -
SFRS(I) INT 21 Levies  (PDF, 121KB) IE  (PDF, 102KB)
SFRS(I) INT 22 Foreign Currency Transactions and Advance Consideration  (PDF, 91KB) IE  (PDF, 150KB)
SFRS(I) INT 23 Uncertainty over Income Tax Treatments  (PDF, 97KB) IE  (PDF, 110KB)
SFRS(I) INT 1-7 Introduction of the Euro  (PDF, 76KB) -
SFRS(I) INT 1-10 Government Assistance - No Specific Relation to Operating Activities  (PDF, 156KB) -
SFRS(I) INT 1-25 Income Taxes - Changes in the Tax Status of an Entity or its Shareholders  (PDF, 163KB) -
SFRS(I) INT 1-29 Service Concession Arrangements: Disclosures  (PDF, 110KB) -
SFRS(I) INT 1-32 Intangible Assets - Web Site Costs  (PDF, 181KB) IE  (PDF, 131KB)
* Include Implementation Guidance (IG), Illustrative Examples (IE), and Information Notes (IN).
Please click here  (ZIP, 25342KB) to download all the SFRS(I)s and SFRS(I) Interpretations in the 2021 volume.

Other supporting documents

Basis for Conclusions on IFRS Standards

The Conceptual Framework and SFRS(I)s should be read in the context of the Basis for Conclusions on IFRS Conceptual Framework and IFRS Standards issued by the IASB. The Basis for Conclusions is not part of IFRS Conceptual Framework and IFRS Standards. It summarises the IASB's considerations in developing IFRS Conceptual Framework and IFRS Standards. The use of the Basis for Conclusions is subject to the IFRS Foundation's Terms and Conditions  (PDF, 171KB) as if it is published on the IFRS Foundation's website.

 

Basis for Conclusions on IFRS Standards

Reference Title
Framework The Conceptual Framework for Financial Reporting (PDF, 369KB)
Reference Title
IFRS 1 First-time Adoption of International Financial Reporting Standards (PDF, 211KB)
IFRS 2 Share-based Payment (PDF, 366KB)
IFRS 3 Business Combinations (PDF, 515KB)
IFRS 4 Insurance Contracts (PDF, 439KB)
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (PDF, 152KB)
IFRS 6 Exploration for and Evaluation of Mineral Resources (PDF, 118KB)
IFRS 7 Financial Instruments: Disclosures (PDF, 317KB)
IFRS 8 Operating Segments (PDF, 170KB)
IFRS 9 Financial Instruments (PDF, 1424KB)
IFRS 10 Consolidated Financial Statements (PDF, 304KB)
IFRS 11 Joint Arrangements (PDF, 136KB)
IFRS 12 Disclosure of Interests in Other Entities (PDF, 155KB)
IFRS 13 Fair Value Measurement (PDF, 239KB)
IFRS 14 Regulatory Deferral Accounts (PDF, 128KB)
IFRS 15 Revenue from Contracts with Customers (PDF, 485KB)
IFRS 16 Leases (PDF, 398KB)
IAS 1 Presentation of Financial Statements (PDF, 235KB)
IAS 2 Inventories (PDF, 52KB)
IAS 7 Statement of Cash Flows (PDF, 66KB)
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (PDF, 77KB)
IAS 10 Events after the Reporting Period (PDF, 46KB)
IAS 12 Income Taxes (PDF, 95KB)
IAS 16 Property, Plant and Equipment (PDF, 207KB)
IAS 19 Employee Benefits (PDF, 350KB)
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance (PDF, 46KB)
IAS 21 The Effects of Changes in Foreign Exchange Rates (PDF, 81KB)
IAS 23 Borrowing Costs (PDF, 72KB)
IAS 24 Related Party Disclosures (PDF, 94KB)
IAS 27 Separate Financial Statements (PDF, 89KB)
IAS 28 Investments in Associates and Joint Ventures (PDF, 125KB)
IAS 29 Financial Reporting in Hyperinflationary Economies (PDF, 44KB)
IAS 32 Financial Instruments: Presentation (PDF, 172KB)
IAS 33 Earnings per Share (PDF, 52KB)
IAS 34 Interim Financial Reporting (PDF, 52KB)
IAS 36 Impairment of Assets (PDF, 358KB)
IAS 38 Intangible Assets (PDF, 182KB)
IAS 39 Financial Instruments: Recognition and Measurement (PDF, 354KB)
IAS 40 Investment Property (PDF, 153KB)
IAS 41 Agriculture (PDF, 151KB)
International Financial Reporting Standards (IFRS), International Accounting Standards (IAS)
Reference Title
IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities (PDF, 74KB)
IFRIC 2 Members' Shares in Co-operative Entities and Similar Instruments (PDF, 66KB)
IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds (PDF, 76KB)
IFRIC 6 Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment (PDF, 51KB)
IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies (PDF, 70KB)
IFRIC 10 Interim Financial Reporting and Impairment (PDF, 49KB)
IFRIC 12 Service Concession Arrangements (PDF, 111KB)
IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction (PDF, 78KB)
IFRIC 16 Hedges of a Net Investment in a Foreign Operation (PDF, 271KB)
IFRIC 17 Distributions of Non-cash Assets to Owners (PDF, 81KB)
IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments (PDF, 89KB)
IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine (PDF, 72KB)
IFRIC 21 Levies (PDF, 67KB)
IFRIC 22 Foreign Currency Transactions and Advance Consideration (PDF, 65KB)
IFRIC 23 Uncertainty over Income Tax Treatments (PDF, 59KB)
SIC-7 Introduction of the Euro (PDF, 51.9KB)
SIC-10 Government Assistance - No Specific Relation to Operating Activities (PDF, 42.5KB)
SIC-25 Income Taxes - Changes in the Tax Status of an Entity or its Shareholders (PDF, 48.6KB)
SIC-29 Service Concession Arrangements: Disclosures (PDF, 48.2KB)
SIC-32 Intangible Assets - Web Site Costs (PDF, 60.2KB)
IFRIC Interpretations (IFRIC), SIC Interpretations (SIC)
Agenda decisions

The IFRS Interpretations Committee works with the IASB in supporting the consistent application of IFRS Standards, such as by responding to questions submitted regarding IFRS Standards. If the IFRS Interpretations Committee decides not to add a standard-setting project to address a question submitted, it publishes an agenda decision to explain its decision. Agenda decisions often include explanatory material, which explains how the applicable principles and requirements in IFRS Standards apply to the question submitted. Explanatory material derives its authority from IFRS Standards themselves. Accordingly, an entity is required to apply the applicable IFRS Standard(s), reflecting the explanatory material in an agenda decision (subject to it having sufficient time to implement that accounting). Agenda decisions can be accessed on the IFRS Foundation's website.

Archives

Archived documents can be accessed here.

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