Professional Documents
Culture Documents
Introduction and
Preface to PFRS
(ToA.200)
Leomar R. Cabarles
Reviewer, PRTC
Outline
Financial Reporting Standards Council (FRSC)
Philippine Financial Reporting Standards (PFRSs)
The PFRSs Due Process
The PFRSs
Set out recognition, measurement, presentation
and disclosure requirements dealing with
transactions and events that are important in
general purpose FSs (of profit-oriented entities).
Include paragraphs in bold type (main principles)
and plain type, which have equal authority.
STQ Answers
1.
2.
3.
4.
5.
D
D
C
A
A
STQ Answers
6.
7.
8.
9.
10.
A
A
A
D
D
STQ Answers
11.
12.
D
C
end of ToA.200