Advisory Notes
The Accountant-General’s Department (AGD) issues Accounting Advisory Notes to aid Statutory Boards in deciding how to apply existing accounting principles in SB-FRSs. Unlike SB-FRS Guidance Notes that are issued by the Accountant-General for the standardisation of certain accounting and disclosure treatment, these Advisory Notes are non-binding and do not constitute pronouncements from the Accountant-General or AGD. Statutory Boards are advised to discuss and agree with their auditors on the accounting treatment where appropriate. AGD makes no representations or warranties of any kind, express or implied, in relation to the Advisory Notes and disclaims all liabilities for any claims, loss or damage or any kind, howsoever arising, in connection with the Advisory Notes, including any use of or reliance on them.
| Topics | Titles | Publication Dates |
|---|---|---|
| SB-FRS 116 Leases | Should there be a standardised discount rate for SBs? | 06/04/2023 |
| Principles for determining lease discount rate | 06/04/2023 | |
| Applicability of lease accounting for ACE II system subscription | 06/04/2023 | |
| Accounting for cloud infrastructure subscription costs | 06/04/2023 | |
| Clarification on “low-value” asset threshold for SBs | 06/04/2023 | |
| SB-FRS 23 Borrowing Costs | Should capital expenditure incurred on projects funded using general borrowings, which remain outstanding after qualifying asset has completed construction, be included in capitalisation rate? | 06/04/2023 |
| SB-FRS 16 Property, Plant and Equipment | Should co-payment on prolongation costs be capitalised? | 06/04/2023 |
| Others | Advisory note on disclosures for income and expenses relating to COVID-19 measures | 06/04/2023 |
| Guidance on accounting for participating agencies’ Cumulus arrangement with the Government of Singapore | 06/04/2023 |