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ASC has issued Singapore Financial Reporting Standards (International) (SFRS(I)s)

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 (IFRSs) issued by the International Accounting Standards Board (IASB).

Table of SFRS(I)s and IFRSs 

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 IFRSs in its first SFRS(I) financial statements, and thereafter, in its subsequent SFRS(I) financial statements. 

SFRS(I)s are available for entities to apply for annual reporting periods beginning on or after 1 January 2018. 

The first volume of SFRS(I)s contains the equivalent of the consolidated text of IFRS Standards and Interpretations as issued by the IASB at 31 December 2017 that are applicable for annual reporting period beginning on 1 January 2018. 

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