Guide to accounting standards
Contains the financial reporting frameworks issued by the ASC, news, public consultations, and frequently asked questions.
Last updated 5 February 2026
On this page
Financial reporting frameworks issued by the ASC
Entities should refer to the relevant issued Acts or Statutes and the applicable Statement of Applicability issued by the ASC that set out the requirements for the preparation of financial statements.
Financial reporting frameworks and quick links
Financial reporting frameworks | Quick links |
|---|---|
Singapore Financial Reporting Standards (International) (SFRS(I)s) SFRS(I)s refer to Singapore Financial Reporting Standards (International) and SFRS(I) Interpretations issued by the ASC. | |
Financial Reporting Standards (FRSs) FRSs refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards issued by the ASC. | |
Contains the SFRS for Small Entities issued by the ASC. | |
The Charities Accounting Standard is issued by the ASC for financial reporting by eligible charities in Singapore. |
|
News: Local and international
Accounting standards news
Read the latest news published by the ASC and the IFRS Foundation.
Public consultations
Provide your comments to the consultation documents, which ASC will give due consideration in developing comments to the IASB.
Frequently asked questions (FAQs)
Who can I ask for advice on the accounting standards?
The ASC formulates accounting standards for companies, charities, co-operative societies and societies pursuant to the Accounting Standards Act 2007. However, the ASC is not authorised to provide advice on the application of these standards.
If you require advice on the application of the accounting standards issued by the ASC, you may seek professional advice from accounting firms or professional bodies.
Do I need permission to use the accounting standards?
Usage policy
Type of use | Guidelines |
|---|---|
Personal non-commercial use | You may use these accounting standards for your own personal non-commercial use only:
All use must comply with the Terms and Conditions of Use of this website. |
Any other purpose | You need permission for any other purpose. As the SFRS Standards are based on IFRS Accounting Standards (whose copyright is owned by the IFRS Foundation), permission is required from:
For the Charities Accounting Standard, you need permission from ACRA. |
Why am I unable to access the accounting standards?
You may receive a "Request Denied" or other error message when trying to access SFRS(I)s, FRSs, or SFRS for Small Entities (collectively, the SFRS Standards) on this website.
This happens because the SFRS Standards are based on IFRS Accounting Standards, whose copyright is owned by the IFRS Foundation. Due to the IFRS Foundation’s copyright requirements, access to SFRS Standards is restricted to Singapore-based IP addresses only.
If you cannot access the SFRS Standards from Singapore:
Ask your IT department if your company uses a proxy server located outside Singapore.
Use a local connection based on Singapore-based IP addresses. Access the SFRS Standards through a local internet connection.
Contact us. If you are denied access after trying the above two steps, contact us with a screenshot of your IP address.
What is an 'annual volume'?
An annual volume is a collection of SFRS(I)s or FRSs that is required to be applied for an annual reporting period that coincides with the calendar year.
For example, the "SFRS(I)s: Effective for annual reporting period beginning on 1 Jan 20X1" contains all the SFRS(I)s required for the annual reporting period beginning on 1 January 20X1.
Annual volume content
An annual volume, such as the SFRS(I)s: Effective for annual reporting period beginning on 1 Jan 20X1 | Details |
|---|---|
Includes | All new, revised, or amended SFRS(I)s:
|
Excludes | New, revised, or amended SFRS(I)s that are effective for annual reporting periods beginning after 1 January 20X1. |
You can access new, revised, or amended SFRS(I)s or FRSs through hyperlinks labelled "Changes effective for annual periods beginning after 1 January...".
Example: A new SFRS(I) standard that is issued in 20X0 and effective for annual reporting periods beginning on or after 1 January 20X2 can be accessed using both of these hyperlinks:
Changes effective for annual reporting periods beginning after 1 January 20X0
Changes effective for annual reporting periods beginning after 1 January 20X1