NEW financial reporting standard

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#1
SGX reminds investors of new consolidation rule

A NEW financial reporting standard (FRS) affecting the consolidation of financial statements will become effective for annual periods beginning on or after Jan 1, 2014, the Singapore Exchange (SGX) reminded investors yesterday.

As permission is required for reproduction, here is the link: http://www.singaporelawwatch.sg/slw/head...medium=rss
Patience is a virtue.
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#2
What's the changes? The present IAS27 already emphasised the importance of "control" when determine which entities to be part of consolidation. I don't expect the new FRS110 will resulting in a lots of restatements among the SGX listed, if they have followed IAS27 correctly.
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#3
(23-10-2013, 02:53 PM)TheMillennium Wrote: SGX reminds investors of new consolidation rule

A NEW financial reporting standard (FRS) affecting the consolidation of financial statements will become effective for annual periods beginning on or after Jan 1, 2014, the Singapore Exchange (SGX) reminded investors yesterday.

As permission is required for reproduction, here is the link: http://www.singaporelawwatch.sg/slw/head...medium=rss

This is part of the migration to new FRS, started from 2012, and will end by 2015.

The various amendments are documented by PwC, link below

http://www.pwc.com/sg/en/illustrative-an...e_2012.pdf
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#4
HL Asia consolidates China Yu Chai numbers coz control by board seats even though less than 50%...
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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