Technical Updates • 2023-03-17
Newsletter No. 09. March 2023. Adoption of Revised Accounting Standards for Annual Reporting Periods Beginning on or after January 1, 2023
In this Issue
The Financial and Sustainability Reporting Standards Council (FSRSC) has approved the adoption of Amendments to: PAS 1, Classification of Liabilities as Current or Non-current; PAS 8, Definition of Accounting Estimates; PAS 1 and PFRS Practice Statement 2, Disclosure Initiative – Accounting Policies; and PAS 12, “Deferred tax related to assets and liabilities arising from a single transaction” issued by the International Accounting Standards Board (IASB). These amendments are effective for annual reporting periods beginning on or after January 1, 2023.
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