International Financial Reporting Standards

# IFRS 1 IFRS 2 IFRS 3 IFRS 4 IFRS 5 IFRS 6 IFRS 7 IFRS 8 IFRS 9 IFRS 10 IFRS 11 IFRS 12 IFRS 13 Name First-time Adoption of International Financial Standards Share-based Payment Business Combinations Insurance Contracts Non-current Assets Held for Sale and Discontinued Operations Exploration for and Evaluation of Mineral Assets Financial Instruments: Disclosures Operating Segments Financial Instruments Consolidated Financial Statements Joint Arrangements Disclosure of Interests in Other Entities Fair Value Measurement Issued 2008* 2004 2008* 2004 2004 2004 2005 2006 2010* 2011 2011 2011 2011

International Accounting Standards

# IAS 1 IAS 2 Name Presentation of Financial Statements Inventories Consolidated Financial Statements
Superseded in 1989 by IAS 27 and IAS 28

Issued 2007* 2005*

IAS 3

1976

IAS 4

Depreciation Accounting
Withdrawn in 1999

IAS 5

Information to Be Disclosed in Financial Statements

1976

Superseded by IAS 1 effective 1 July 1998

IAS 6

Accounting Responses to Changing Prices

Superseded by IAS 15, which was withdrawn December 2003

IAS 7 IAS 8

Statement of Cash Flows Accounting Policies, Changes in Accounting Estimates and Errors Accounting for Research and Development Activities
Superseded by IAS 39 effective 1 July 1999

1992 2003

IAS 9

IAS 10 IAS 11 IAS 12 IAS 13 IAS 14 IAS 15 IAS 16 IAS 17 IAS 18 IAS 19 IAS 19 IAS

Events After the Reporting Period

2003

Construction Contracts

1993

Income Taxes

1996*

Presentation of Current Assets and Current Liabilities

Superseded by IAS 39 effective 1 July 1998

Segment Reporting
Superseded by IFRS 8 effective 1 January 2009

1997

Information Reflecting the Effects of Changing Prices

Withdrawn December 2003

2003

Property, Plant and Equipment

2003*

Leases

2003*

Revenue

1993*

Employee Benefits
Superseded by IAS 19 (2011) effective 1 January 2013

1998

Employee Benefits (2011)

2011*

Accounting for Government Grants and Disclosure of Government Assistance

1983

20 IAS 21 IAS 22 IAS 23 IAS 24 IAS 25 IAS 26 IAS 27 IAS 27 IAS 28 IAS 28 IAS 29

The Effects of Changes in Foreign Exchange Rates

2003*

Business Combinations
Superseded by IFRS 3 effective 31 March 2004

1998*

Borrowing Costs

2007*

Related Party Disclosures

2009*

Accounting for Investments

Superseded by IAS 39 and IAS 40 effective 2001

Accounting and Reporting by Retirement Benefit Plans

1987

Separate Financial Statements (2011)

2011

Consolidated and Separate Financial Statements

Superseded by IFRS 10, IFRS 12 and IAS 27 (2011) effective 1 January 2013

2003

Investments in Associates and Joint Ventures (2011)

2011

Investments in Associates
Superseded by IAS 28 (2011) and IFRS 12 effective 1 January 2013

2003

Financial Reporting in Hyperinflationary Economies

1989

IAS 30

Disclosures in the Financial Statements of Banks and Similar Financial Institutions

Superseded by IFRS 7 effective 1 January 2007

1990

IAS 31 IAS 32 IAS

Interests In Joint Ventures

Superseded by IFRS 11 and IFRS 12 effective 1 January 2013

2003*

Financial Instruments: Presentation

2003*

Earnings Per Share

2003*

33 IAS 34 IAS 35 IAS 36 IAS 37 IAS 38 IAS 39 IAS 40 IAS 41

Interim Financial Reporting

1998

Discontinuing Operations
Superseded by IFRS 5 effective 1 January 2005

1998

Impairment of Assets

2004*

Provisions, Contingent Liabilities and Contingent Assets

1998

Intangible Assets

2004*

Financial Instruments: Recognition and Measurement

Superseded by IFRS 9 effective 1 January 2015

2003*

Investment Property

2003*

Agriculture

2001

Preface to Philippine Financial Reporting Standards Conceptual Framework for Financial Reporting Phase A: Objectives and qualitative characteristics (Effective Date 07/01/2011) Philippine Financial Reporting Standards Effective Date 01/01/05 01/01/09 07/01/09 01/01/10 07/01/10 07/01/11 01/01/13* 01/01/05 01/01/09 01/01/10 01/01/05 07/01/09 01/01/05 01/01/06 01/01/05 01/01/06 01/01/07 01/01/07 07/01/08 07/01/08 01/01/09 07/01/11 01/01/13*

PFRS PFRS 1

Title First-time Adoption of Philippine Financial Reporting Standards [superseded by PFRS 1 (Revised)] Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate

PFRS 1 (Revised)

First-time Adoption of Philippine Financial Reporting Standards Amendments to PFRS 1: Additional Exemptions for First-time Adopters Amendment to PFRS 1: Limited Exemption from Comparative PFRS 7 Disclosures for First-time Adopters Amendments to PFRS 1: Severe Hyperinflation and Removal of Fixed Date for First-time Adopters Amendments to PFRS 1: Government Loans

PFRS 2

Share-based Payment Amendments to PFRS 2: Vesting Conditions and Cancellations Amendments to PFRS 2: Group Cash-settled Share-based Payment Transactions

PFRS 3

Business Combinations [superseded by PFRS 3 (Revised)]

PFRS 3 (Revised) Business Combinations PFRS 4 Insurance Contracts Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts PFRS 5 PFRS 6 PFRS 7 Non-current Assets Held for Sale and Discontinued Operations Exploration for and Evaluation of Mineral Resources Financial Instruments: Disclosures Amendments to PFRS 7: Transition Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Effective Date and Transition Amendments to PFRS 7: Improving Disclosures about Financial Instruments Amendments to PFRS 7: Disclosures - Transfers of Financial Assets Amendments to PFRS 7: Disclosures - Offsetting Financial Assets and Financial Liabilities

Amendments to PFRS 9 and PFRS 7: Mandatory Effective Date of PFRS 9 and Transition Disclosures PFRS 8 PFRS 9 Operating Segments Financial Instruments Amendments to PFRS 9 and PFRS 7: Mandatory Effective Date of PFRS 9 and Transition Disclosures PFRS 10 PFRS 11 PFRS 12 PFRS 13 Consolidated Financial Statements Joint Arrangements Disclosure of Interests in Other Entities Fair Value Measurement

01/01/15* 01/01/09 01/01/15 01/01/15* 01/01/13* 01/01/13* 01/01/13* 01/01/13*

Philippine Accounting Standards (PASs) Effective Date 01/01/05 01/01/07 01/01/09 01/01/09 07/01/12* 01/01/05
1

PAS
PAS 1

Title
Presentation of Financial Statements [superseded by PAS 1 (Revised)] Amendment to PAS 1: Capital Disclosures

PAS 1 (Revised)

Presentation of Financial Statements Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation Amendments to PAS 1: Presentation of Items of Other Comprehensive Income

PAS 2 PAS 7 PAS 8 PAS 10 PAS 11 PAS 12

Inventories Cash Flow Statements

01/01/05 01/01/05 01/01/05 01/01/05 01/01/05 01/01/12 01/01/05 01/01/05 01/01/05 01/01/05 01/01/05 01/01/06 01/01/13* 01/01/05 01/01/05

Accounting Policies, Changes in Accounting Estimates and Errors Events after the Balance Sheet Date Construction Contracts Income Taxes Amendments to PAS 12 - Deferred Tax: Recovery of Underlying Assets
2

PAS 14 PAS 16 PAS 17 PAS 18 PAS 19

Segment Reporting [superseded by PFRS 8] Property, Plant and Equipment Leases Revenue Employee Benefits Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and Disclosures

PAS 19 (Amended) Employee Benefits PAS 20 PAS 21 Accounting for Government Grants and Disclosure of Government Assistance The Effects of Changes in Foreign Exchange Rates

Amendment: Net Investment in a Foreign Operation PAS 23 PAS 23 (Revised) PAS 24 PAS 24 (Revised) PAS 26 PAS 27 PAS 27 (Revised) Borrowing Costs [superseded by PAS 23 (Revised)] Borrowing Costs Related Party Disclosures [superseded by PAS 24 (Revised)] Related Party Disclosures Accounting and Reporting by Retirement Benefit Plans Consolidated and Separate Financial Statements [superseded by PAS 27 (revised)] Consolidated and Separate Financial Statements Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate PAS 27 (Amended) Separate Financial Statements PAS 28 Investments in Associates

01/01/06 01/01/05 01/01/09 01/01/05 01/01/11 01/01/05 01/01/05 07/01/09 01/01/09 01/01/13* 01/01/05 01/01/13* 01/01/05 01/01/05 01/01/05 01/01/05 01/01/07 01/01/09 02/01/10 01/01/14* 01/01/05 01/01/05 01/01/05 01/01/05 01/01/05 01/01/05 01/01/05 01/01/06 01/01/06 01/01/06 07/01/08

PAS 28 (Amended) Investments in Associates and Joint Ventures PAS 29 PAS 30 PAS 31 PAS 32 Financial Reporting in Hyperinflationary Economies Disclosures in the Financial Statements of Banks and Similar Financial Institutions [superseded by PFRS 7] Interests in Joint Ventures Financial Instruments: Disclosure and Presentation Financial Instruments: Presentation Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation Amendment to PAS 32: Classification of Rights Issues Amendments to PAS 32: Offsetting Financial Assets and Financial Liabilities PAS 33 PAS 34 PAS 36 PAS 37 PAS 38 PAS 39 Earnings per Share Interim Financial Reporting Impairment of Assets Provisions, Contingent Liabilities and Contingent Assets Intangible Assets Financial Instruments: Recognition and Measurement Amendments to PAS 39: Transition and Initial Recognition of Financial Assets and Financial Liabilities Amendments to PAS 39: Cash Flow Hedge Accounting of Forecast Intragroup Transactions Amendments to PAS 39: The Fair Value Option Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets

Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Effective Date and Transition Amendments to Philippine Interpretation IFRIC9 and PAS 39: Embedded Derivatives Amendment to PAS 39: Eligible Hedged Items PAS 40 PAS 41 PAS 101 Investment Property Agriculture Financial Reporting Standards for Non-publicly Accountable Entities [superseded by PFRS for SMEs] Amendment to PAS 101: Change in Effective Date
1

07/01/08

06/30/09 07/01/09 01/01/05 01/01/05 01/01/05 01/01/05

As a result of the changes in terminology made by PAS 1 in 2007, the title of PAS 7 was changed 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 after the Reporting Period.