PFRS

Question 1

are Standards and Interpretations
adopted by the FRSC.

Answer 1

Philippine Financial Reporting

Standards (PFRSs)

The PFRSs

Question 2

The PFRSs are Standards and Interpretations
adopted by the FRSC. They consist of the
following:

Answer 2

1. Philippine Financial Reporting Standards
   (PFRSs);
2. Philippine Accounting Standards (PASs);
   and
3. Interpretations