This publication illustrates best practices for financial statement disclosures that comply with the Singapore Companies Act, Singapore Financial Reporting Standards (International) [SFRS(I)] and Singapore Exchange Limited Listing Manual for companies with financial years ending 31 December 2023.
Major changes since SIFS 2022 include disclosure examples for:
- the adoption of the amendments to SFRS(I) 1-12 for Deferred Tax related to Assets and Liabilities arising from a Single Transaction;
- illustrative disclosures in the main body and appendices for the impact on adoption of the amendments to SFRS(I) 1-12 for the International Tax Reform - Pillar Two Model Rules; and
- the adoption of the amendments to SFRS(I) 1-1 and SFRS(I) Practice Statement 2 for Disclosure of Accounting Policies.