财务报告准则
Members' Handbook Volume II - "Financial Reporting Standards"
To access the members' handbook, please click here.
Financial reporting Standards
(a) Hong Kong Financial Reporting Standards
As explained in the Preface to Hong Kong Financial Reporting Standards, the term "Hong Kong Financial Reporting Standards" (HKFRS) includes all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards, and HK (IFRIC) Interpretations, HK Interpretations and HK (SIC) Interpretations (collectively referred to as "Interpretations") issued by the Hong Kong Institute of Certified Public Accountants.
HKFRS set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events that are important in general purpose financial statements. HKFRS are based on the Conceptual Framework for Financial Reporting 2018, which addresses the concepts underlying the information presented in general purpose financial statements.
The appropriate application of HKFRS, with additional disclosure when necessary, results, in virtually all circumstances, in financial statements that give a true and fair view.
(b) HKFRS for Private Entities
The Institute issued the HKFRS for Private Entities as a financial reporting option for Private Entities with the objective to ease the reporting burden of Private Entities by relieving them of the requirement to apply the full HKFRS. For details, please click here.
(c) The Small and Medium-sized Entity Financial Reporting Framework and Financial Reporting Standard (SME-FRF & SME-FRS)
The Institute issued the SME-FRF & SME-FRS which are standards of accounting practices for SMEs that qualify for reporting under the SME-FRF. For details, please click here.
Due process and comparison with IFRS
This page links to the following documents (available in Adobe Acrobat format).
- Preface to Hong Kong Financial Reporting Standards
- Hong Kong Financial Reporting Standard for Private Entities
- Comparison between Hong Kong Financial Reporting Standards and International Financial Reporting Standards
- Policy on providing interpretations or rulings on financial reporting issues
- International Accounting Standards Boards (IASB)
- A Plus article on dual compliance with HKFRSs and IFRSs
