Schedule 1

SCHEDULE OF ALL THE EFFECTIVE STANDARDS AND INTERPRETATION UNDER

THE PHILIPPINE FINANCIAL REPORTING STANDARDS (PFRS)
AT DECEMBER 31, 2014
PFRSs AND INTERPRETATIONS
Effective as of December 31, 2014
Framework for the Preparation and Presentation of Financial
Statements
Conceptual Framework Phase A: Objectives and quantitative
characteristics
PFRSs Practice Statement Management Commentary
Philippine Financial Reporting Standards
PFRS 1
First-time Adoption of Philippine Financial Reporting
(Revised)
Standards
Amendments to PFRS 1 and PAS 27: Cost of an
Investment in a Subsidiary, Jointly Controlled Entity or
Associate
Amendments to PFRS 1: Additional Exemptions for
First-time Adopters
Amendments to PFRS 1: Limited Exemption from
Comparatives PFRS 7 Disclosures for First Time
Adopter
Amendments to PFRS 1: Severe Hyperinflation and
Removal of Fixed Date for First-time Adopters
Amendments to PFRS 1: Government Loans
Amendments to PFRS 1: Borrowing cots
Amendments to PFRS 1: Meaning of 'Effective PFRs"
PFRS 2
Share-based Payment
Amendments to PFRS 2: Vesting Conditions and
Cancellations
Amendments to PFRS 2: Group Cash-settled Sharebased Payment Transactions
Amendments to PFRS 2: Definition of vesting
Condition
PFRS 3
Business Combinations
(Revised)
Amendments to PFRS 3: Accounting for Contingent
Consideration in a Business Combination
Amendments to PFRS 3: Scope Exceptions for Joint
Arrangements
PFRS 4
Insurance Contracts
Amendments to PAS 39 and PFRS 4: Financial
Guarantee Contracts
PFRS 5
Non-current Assets Held for Sale and Discontinued
Operations

Adopted

Exploration for and Evaluation of Mineral Resources

Financial Instruments: Disclosures
Amendments to PFRS 7: Transition
Amendments to PAS 39 and PFRS 7: Reclassification of
Financial Assets
Amendments to PAS 39 and PFRS 7: Reclassification of
Financial Assets: Effective Date and Transition
Amendments to PFRS 7: Improving Disclosures about
Financial Instruments
Amendments to PFRS 7: Transfers of Financial Assets
Amendments to PFRS 7: Offseting Financial Assets and
Liabilities
Amendments to PFRS 7: Mandatory Effective Date of PFRS 9
and Transistion Disclosure
Amendments to PFRS 7: Disclosures - Servicing Contracts
Applicability of the Amendments to PFRS 7 to Condensed
Interim Financial Statements

Not
Applicable

P
P
P
P
P
P
P
P
P
Not early adopted
P
P
P
Not early adopted
P
P
P
P
P
P
Not early adopted

Amendments to PFRS 5: Chanes in method of disposals

PFRS 6
PFRS 7

Not
Adopted

P
P
P
P
P
P
P
P
Not early adopted
Not early adopted
Not early adopted

PFRSs AND INTERPRETATIONS

Effective as of December 31, 2014
PFRS 8
Operating Segments

Adopted

Not early adopted

PFRS 9

Not early adopted

Financial Instruments: Classification and Movement (2010 version)

PFRS 11

PFRS 12
PFRS 13

Financial Instruments - Hedge Accou8nting and amendments to PFRS

9, PFRS 7 and PAS 39 (2013 version)*
Financial Instruments (2014 of final version)*

Not early adopted

Amendments to PFRS 9: Mandatory Effective Date of PFRS 9 and

Transition Disclosures
Consolidated Fianancial Statements
Amendments to PFRS 10: Investment Entities

Not early adopted

Amendments to PFRS 10: Sale or contribution of Assets between an

Investor and its Associate or Joint Venture*
Joint Arrangements

Not early adopted

Amendments to PFRS 11: Accounting for Acquisitions of Interests in

Joint Operations*
Disclosure of Interests in Other Entities
Amendments to PFRS 12: Investment Entities
Fair Value Measurement

Not early adopted

PFRS 14

Amendments to PFRS 13: Short-term receivables and payables

Amendments to PFRS 13: Portfolio Exception*
Regulatory Deferral Accounts*

IFRS 15

Revenue fro Contracts with Customers**

Philippine Accounting Standards

PAS 1
Presentation of Financial Statements
(Revised)
Amendments to PAS 1: Capital Disclosures
Amendments to PAS 32 and PAS 1: Puttable Financial Instruments
and Obligations Arising on Liquidation
Amendments to PAS 1: Presentation of Items of Other Comprehensive
Income
Amendments to PAS 1: Clarification of the requirements for
comparative information
PAS 2
Inventories
Pas 7
Statements of Cash Flows
PAS 8
Accounting Policies, Changes in Accounting Estimates and Errors
PAS 10
PAS 11
PAS 12

PAS 16

Not
Applicable
P

Amendments to PFRS 8: Aggregation of Operating Segments and

Reconciliation of the Total of the Reportable Segments' Assets to the
Entity's Assets*

PFRS 10

Not
Adopted

Events after the Reporting Period

Contruction Contracts
Income Taxes
Amendmets to PAS 12: Deferred Tax: Recovery of Underrlying Assets
Property, Plant and Equipment
Amendments to PAS 16: Classification of servicing equipment
Amendments to PAS 16: Revaluation Method - Proportionate
Restatement of Accumulated Depreciation*

Not early adopted

P
P

P
P
P
P
Not early adopted
Not early adopted
Not early adopted
P
P
P
P
P
P
P
P
P
P
P
P
P
P
Not early adopted

PFRSs AND INTERPRETATIONS

Effective as of December 31, 2014
Amendments of PAS 16 and PAS 38: Clarification of Acceptable
Methods of Depreciation and Amortization*

Adopted

Not
Adopted

Not
Applicable

P
P

Amendments to PAS 16: Bearer Plants*

PAS 17

Leases

PAS 18

Revenue

PAS 19

Employee Benefits

Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and
Disclosures

PAS 19

Employee Benefits

(Amended)

Amendments to PAS 19: Defined Benefit Plans: Employee

Copntributions*
Accoun ting for Government Grants and Disclosure of Government
Assistance
The Effects of Changes in Foreign Operation

PAS 20
PAS 21

Not early adopted

P
P
P

Amendment: Net Investment in Foreign Operation

PAS 23

Borrowing Costs

(Revised)
PAS 24

Related Party Disclosures

(Revised)
PAS 26
PAS 27

Amendments to PAS 24: Key Management Personnel*

Accounting and Reporting by Retirement Benefit Plans
Separate Financial Statements

(Amended)

Amendments to PAS 27: Investment Entities

Amendments to PAS 27: Equity Method in Separate Financial
Statements*
Investments in Associates and Joint Ventures
Amendments to PAS 28: Sale or Contribution of Assets Between an
Investor and its Associate or Joint Venture*
Financial Reporting under Hyperinflationary Economies
interest in Joint ventures
Financial Instruments: Disclosure and Presentation
Amendments to PAS 32 ans PAS 1: Puttable Financial Instruments and
Obligations Arising on Liquidation
Amendments to Pas 32: Classification of Rights Issues
Amendments to Pas 32: Tax effect of distribution to holders of equity
instruments
Amendments to PAS 32: Offsetting Financial Assets and Liabilities
Earnings per Share
Interim Financial Reporting
Amendments to PAS 34: Interim financial reporting and segment
information for total assets and liabilities
Impairment of Assets
Amendments to PAS 36: Recoverable Amount Disclosures for NonFinancial Assets
Provisions, Contingent Liabilities and Contingient Assets
Intangible Assets
Amendments to PAS 38: Revaluation Method - Proportionate
Restatement of Accumulated Amortization*

Pas 28
(Amended)
PAS 29
PAS 31
PAS 32

PAS 33
PAS 34

PAS 36

PAS 37
PAS 38

PAS 39

Amendments to Pas 16 and PAS 38: Clarification of Acceptable Methods

of Deprecaition and Amortization*
Financial Instruments: Recognition and Measurement
Amendments to PAS 39: Transition and Initial Recognition of Financial
Assets and Financial Liabilities
Amendments to PAS 39: Cash Flow Hedge Accounting Forecast
Intragroup Transactions

P
P
Not early adopted
P
P
P
Not early adopted
P
Not early adopted
P
P
P
P
P
P
P
P
P
Not early adopted
P
P
P
P
Not early adopted
Not early adopted
P
P
P

PFRSs AND INTERPRETATIONS

Effective as of December 31, 2014

Adopted

Not
Adopted

Not
Applicable
P

Amendments to PAS 39: The Fair Value Option

Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts

Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets

PAS 40

Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets

- Effective Date and Transition

Amendments to Philippine Interpretation IFRIC-9 and PAS 39:

Embedded Derivatives

Amendment to PAS 39: Eligible Hedged Items

Amendment to Pas 39: Novation of Derivatives and Continuation of
Hedge Accounting
Investment Property

P
P
P
Not early adopted

Amendment to PAS 40: Interrelationship between PFRS 3 and PAS 40

PAS 41

Agriculture
Not early adopted

Amendments to PAS 41: Bearer Plants*

Philippine Interpretations
IFRIC 1

Changes in Existing Decommissioning, Restoration and Similar Liabilities

IFRIC 2

Members' Share in Co-operative Entities and Similar Instruments

IFRIC 4

Determining Whether an Arragement Contains a Lease

Rights to Interests arising from Decommissioning, Restoration an
Environmental Rhabilitation Funds
Liabilities arising from Participating in a Specific Market - Waste
Electrical and Electronic Equipment
Applying the Restatement Approach under PAS 29 Financial Reporting
in Hyperinflationary Economies
Scope of PFRS 2
Reassessment of Embedded Derivatives
Amendments to Philippine Interpretation IFRIC-9 and PAS 39:
Embedded Derivatives
Interim Financial Reporting and Impairment
PFRS 2- Group and Treasury Share Transactions
Service Concession Arrangements
Customer Loyalty Programmes
The Limit on a Defined Benefit Asset, Minimum Funding Requirements
and their Interaction
Amendments to Philippine Interpretations IFRIC- 14, Preapayments of a
Minimum Funding Requirement
Arragements for the Construction of Real Estate***
Hedges of a Net Investment in a Foreign Operation
Distributions of Non-cash Assets to Owners
Transfers of Assets from Customers
Extinguising Financial Liabilities with Equity Instruments
Stripping Costs in the Production Phase of a Surface Mine
Levies
Introduction of the Euro

IFRIC 5
IFRIC 6
IFRIC 7
IFRIC 8
IFRIC 9

IFRIC
IFRIC
IFRIC
IFRIC
IFRIC

10
11
12
13
14

IFRIC 15
IFRIC 16
IFRIC 17
IFRIC 18
IFRIC 19
IFRIC 20
IFRIC 21
SIC-7
SIC-10
SIC-12

SIC-13
SIC-15
SIC-21

P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P

Government Assistance - No Specific Relation to Operating Activities

Consolidation - Special Purpose Entities

Amendments to SIC - 12: Scope of SIC 12

Jointly Controlled Entities - Non-Monetary Contributions by Venturers

Operating Leases
Income Taxes - Recovery of Revalued Non-Depreciable Assets

P
P
P

PFRSs AND INTERPRETATIONS

Effective as of December 31, 2014
Philippine Interpretations
SIC-25
Income Taxes - Changes in the Tax Status of an Entity or
its Shareholders
SIC-27
Evaluating the Substance of Transactions involving
the Legal form of a Lease
SIC-29
Service Concession Arrangements
SIC-31
Revenue - Barter Transactions Involving Advertising
Servces
SIC 32
Intangible Assets - Website Costs

Adopted

Not
Adopted

Not
Applicable

P
P
P
P
P