Hong Kong Financial Reporting Standards UpdateSection I. Amended Standards and Accounting Guideline issued that are applicable to accountingperiods beginning on or after 1 January 2022Standards affectedNew standard and amendments relate toMembers' HandbookAnnual Improvements ProjectAnnual Improvements to HKFRSs 2018-2020(amendments)
Update No. 240HKFRS 3, HKAS 16 andHKAS 37Narrow-scope amendments (amendments)
Update No. 240HKFRS 16Covid-19-Related Rent Concessions beyond2021 (amendments)*Update No. 258AG 5 (Revised)
Revised Accounting Guideline 5 MergerAccounting for Common Control CombinationsUpdate No. 252* Effective for accounting periods beginning on or after 1 April 2021. Earlier application is permitted, including in financialstatements – interim or annual – not authorised for issue at 9 April 2021.Section II. New and amended Standards and Interpretations issued that are not yet effective, but may beadopted earlyStandards affectedNew standard and amendmentsrelate toMembers'HandbookEffective dateHKAS 1 and HKFRSPractice Statement 2Disclosure of Accounting Policies(amendments)
Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 8Definition of Accounting Estimates(amendments)
Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 12Deferred tax related to assets andliabilities arising from a singletransaction (amendments)
Update No. 262Accounting periods beginningon or after 1 January 2023HKFRS 17Insurance Contracts (new standard)
Update No. 211Accounting periods beginningon or after 1 January 2023HKFRS 17Amendments to HKFRS 17Update No. 247Accounting periods beginningon or after 1 January 2023HKFRS 17Initial Application of HKFRS 17 andHKFRS 9—Comparative InformationUpdate No. 271Accounting periods beginningon or after 1 January 2023Amendments to HKAS 1Classification of Liabilities asCurrent or Non-current(amendments)#Update No. 243Accounting periods beginningon or after 1 January 2024HK Int 5 (Revised)
Hong Kong Interpretation 5(Revised) Presentation of FinancialStatements – Classification by theBorrower of a Term Loan thatContains a Repayment on DemandClause (HK Int 5 (Revised))#Update No. 248HK Int 5 (Revised) was revisedas a consequence of theAmendments to HKAS 1(Update No. 243) and shouldonly be applied when an entityapplies the Amendments toHKAS 1. See Amendments toHKAS 1 (Update No. 243) foreffective date and related note.Amendments to HKFRS10 and HKAS 28Sale or Contribution of Assetsbetween an Investor and itsAssociate or Joint Venture(amendments)
Update No. 159A date to be determined by theIASB# In June 2021, the IASB decided to propose further amendments to IAS 1 (which was subsequently issued in November 2021with a comment deadline of 21 March 2022) and to defer the effective date of this amendments to no earlier than 1 January
2024.Published on 17 October 2022
List of new and amended standards applicable to 1 Jan 2022
下载原件Hong Kong Financial Reporting Standards UpdateSection I. Amended Standards and Accounting Guideline issued that are applicable to accountingperiods beginning on or after 1 January 2022Standards affectedNew standard and amendments relate toMembers' HandbookAnnual Improvements ProjectAnnual Improvements to HKFRSs 2018-2020(amendments)
Update No. 240HKFRS 3, HKAS 16 andHKAS 37Narrow-scope amendments (amendments)
Update No. 240HKFRS 16Covid-19-Related Rent Concessions beyond2021 (amendments)*Update No. 258AG 5 (Revised)
Revised Accounting Guideline 5 MergerAccounting for Common Control CombinationsUpdate No. 252* Effective for accounting periods beginning on or after 1 April 2021. Earlier application is permitted, including in financialstatements – interim or annual – not authorised for issue at 9 April 2021.Section II. New and amended Standards and Interpretations issued that are not yet effective, but may beadopted earlyStandards affectedNew standard and amendmentsrelate toMembers'HandbookEffective dateHKAS 1 and HKFRSPractice Statement 2Disclosure of Accounting Policies(amendments)
Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 8Definition of Accounting Estimates(amendments)
Update No. 259Accounting periods beginningon or after 1 January 2023HKAS 12Deferred tax related to assets andliabilities arising from a singletransaction (amendments)
Update No. 262Accounting periods beginningon or after 1 January 2023HKFRS 17Insurance Contracts (new standard)
Update No. 211Accounting periods beginningon or after 1 January 2023HKFRS 17Amendments to HKFRS 17Update No. 247Accounting periods beginningon or after 1 January 2023HKFRS 17Initial Application of HKFRS 17 andHKFRS 9—Comparative InformationUpdate No. 271Accounting periods beginningon or after 1 January 2023Amendments to HKAS 1Classification of Liabilities asCurrent or Non-current(amendments)#Update No. 243Accounting periods beginningon or after 1 January 2024HK Int 5 (Revised)
Hong Kong Interpretation 5(Revised) Presentation of FinancialStatements – Classification by theBorrower of a Term Loan thatContains a Repayment on DemandClause (HK Int 5 (Revised))#Update No. 248HK Int 5 (Revised) was revisedas a consequence of theAmendments to HKAS 1(Update No. 243) and shouldonly be applied when an entityapplies the Amendments toHKAS 1. See Amendments toHKAS 1 (Update No. 243) foreffective date and related note.Amendments to HKFRS10 and HKAS 28Sale or Contribution of Assetsbetween an Investor and itsAssociate or Joint Venture(amendments)
Update No. 159A date to be determined by theIASB# In June 2021, the IASB decided to propose further amendments to IAS 1 (which was subsequently issued in November 2021with a comment deadline of 21 March 2022) and to defer the effective date of this amendments to no earlier than 1 January
2024.Published on 17 October 2022