Version 15 - July 2026 (template release)
Template release pack
This release focuses on the legislative content changes and correction updates for the period ending December 2025. The template is available on platform 6.28.9259 / 6.29.9459 / 6.30.9574 / 6.31.9627 / 6.32.9713 / 6.33.9810 / 6.34.9900.
Release notes
- Period end: December 2025
- Update type: Major (Legislative and Corrections)
Overview
This Philippines Corporate Template Content Version 15.0 is a Major release that includes important legislative updates and PFRS-alignment changes, along with corrections.
PFRS 18 – Effective for annual periods beginning on or after 1 January 2027
PFRS 18, and the consequential amendments to the other accounting standards, is effective for reporting periods beginning on or after 1 January 2027 and must be applied retrospectively. Early adoption is permitted and must be disclosed.
As part of the PFRS 18 implementation, impacted tables and paragraphs have been duplicated and clearly distinguished by labelling them as PFRS 18, while the original content has been retained and labelled as PAS 1.
To support these changes, new categories have been introduced for affected line items in the Categories section. These categories are identified with updated category codes (suffix "2") and labelled as PFRS 18, enabling clear differentiation from the existing PAS 1 categories.
Additionally, PFRS 18 table line items have been mapped to the newly created categories. For grid tables, expressions have been updated in alignment with PFRS 18 requirements to ensure consistency across the report.
Users have the flexibility to continue using the existing PAS 1 content by retaining the current display settings. Alternatively, users who wish to adopt PFRS 18 will need to transition to the newly introduced tables, grids, and related elements included in this release.
Key legislative updates in this version are effective for annual periods beginning on or after June 2026. These updates include:
- Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants - Amendments to PAS 1
- Lease Liability in a Sale and Leaseback – Amendments to PFRS 16
- Disclosures: Supplier Finance Arrangements - Amendments to PAS 7 and PFRS 7
- Lack of exchangeability – Amendments to PAS 21
- Classification and Measurement of Financial Instruments - Amendments to PFRS 9 and PFRS 7
- Contracts Referencing Nature-dependent Electricity – Amendments to PFRS 9 and PFRS 7
- PFRS 18 – Presentation and Disclosure in Financial Statements
- PFRS 19 - Subsidiaries without Public Accountability: Disclosures
- Translation to a Hyperinflationary Presentation Currency – Amendments to PAS 21
- Disclosures about Uncertainties in the Financial Statements
- Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to PFRS 10 and PAS 28
- PFRS Practice Statement 1: Management Commentary (Revised)
- Improvements to International Financial Reporting Standards
This version 15.0 has been released on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627, 6.32.9713, 6.33.9810 and 6.34.9900.
What's new
Legislative Update Information
For detailed and specific changes, kindly refer to the Content Change List PDF available in the release pack.
Accounting reference number | Details |
|---|---|
PAS 1 | Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants - Amendments to PAS 1 |
PFRS 16 | Lease Liability in a Sale and Leaseback – Amendments to PFRS 16 |
PAS 7 and PFRS 7 | Disclosures: Supplier Finance Arrangements - Amendments to PAS 7 and PFRS 7 |
PAS 21 | Lack of exchangeability – Amendments to PAS 21 |
PFRS 9 and PFRS 7 | Classification and Measurement of Financial Instruments - Amendments to PFRS 9 and PFRS 7 |
PFRS 9 and PFRS 7 | Contracts Referencing Nature-dependent Electricity – Amendments to PFRS 9 and PFRS 7 |
PFRS 18 | PFRS 18 – Presentation and Disclosure in Financial Statements |
PFRS 19 | PFRS 19 - Subsidiaries without Public Accountability: Disclosures |
PAS 21 | Translation to a Hyperinflationary Presentation Currency – Amendments to PAS 21 |
PFRS 10 and PAS 28 | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to PFRS 10 and PAS 28 |
Content changes
Item ID | Title | Details and limitations |
|---|---|---|
Common | Common application guidance for PFRS 18 - related updates | PFRS 18-related updates have been applied across relevant primary statements, note disclosures, tables, categories, mappings, drilldowns, and related report content. Users should refer to the Additional Information section for guidance on selecting between the PAS 1 and PFRS 18 reporting flows, including the relevant trial balance, mapping, display settings, and publicly listed company disclosure settings where applicable. The items below summarise the affected areas and related content changes. |
5446989 | PFRS18 Legislative Update to Primary financial statements: Profit and loss account | Updated the Statement of Profit or Loss to incorporate table content supporting PFRS 18 presentation requirements and created the required categories to align elements with the standard's classification framework. |
5446992 | PFRS18 Legislative Update to Primary financial statements: Statement of Financial Position | Revised the Statement of Financial Position to include supporting table content and created new categories for element classification in accordance with PFRS 18. |
5446994 | PFRS18 Legislative Update to Primary financial statements: Statement of Change in Equity (i.e, SOCIE) | Enhanced the Statement of Changes in Equity by incorporating table content to align with PFRS 18 presentation requirements. |
5447175 | PFRS18 Legislative Update to Primary Financial Statements: Comprehensive income | Updated the Statement of Comprehensive Income to incorporate table content supporting PFRS 18 presentation requirements and created the required categories to align elements with the standard's classification framework. |
5446993 | PFRS18 Legislative Update to Primary financial statements: Cash flow statements | Updated the Statement of Cash Flows, including both indirect and optional direct method content, to incorporate table content supporting PFRS 18 presentation requirements. |
5321943 | PFRS18 Legislative Update to Note 1 – Corporate information Note 2 – Accounting policies Note 3 – Significant accounting judgements, estimates and assumptions | Implemented PFRS 18 legislative updates across the following notes: Investments in Associates and Joint Ventures (Note 2.3.2), Foreign Currency Translation (Note 2.3.7), Property, Plant and Equipment (Note 2.3.10), Leases (Note 2.3.11), Financial Instruments (Note 2.3.15), Derivative Financial Instruments and Hedge Accounting (Note 2.3.16), Cost of Sales (Note 2.3.17), Other Related Disclosures (Notes 2.3.22–2.3.24), New and Amended Standards Applied by the Group (Note 2.4.2), and Judgements (Note 3.1). Updates included required presentation, disclosure, and wording changes, as well as the addition of new disclosure elements where applicable, ensuring alignment with PFRS 18 requirements and consistency across accounting policies and financial statement disclosures. |
5321945 | PFRS18 Legislative Update Note 4 – Revenue from contracts with customers Note 5 – Segment information Note 6 – Capital management | Implemented PFRS 18 legislative updates across Contract Balances (Note 4.2), Segment Information (Note 5), and Capital Management (Note 6). Changes included updates to disclosure wording, the introduction of PFRS 18-aligned presentation content and supporting tables, and enhancements to segment and capital management disclosures to ensure compliance with the revised reporting requirements. |
5321948 | PFRS18 Legislative Update to Note 7 – Group information Note 8 – Business combinations and acquisition of non-controlling interests Note 9 – Partly-owned subsidiaries | Completed PFRS 18 legislative updates for Business Combinations and Acquisition of Non-controlling Interests (Note 8) and Partly-owned Subsidiaries (Note 9), incorporating required table content and presentation updates to align with PFRS 18 requirements. |
5321950 | PFRS18 Legislative Update to Note 10 – Interest in a joint venture Note 11 – Investment in an associate Note 12 – Fair value measurement | Implemented PFRS 18 legislative updates across Interest in a Joint Venture (Note 10) and Investment in an Associate (Note 11). Updates included the incorporation of required table content and presentation enhancements to align disclosures with PFRS 18 requirements, ensuring consistency and compliance across equity-accounted investment disclosures. |
5321953 | PFRS18 Legislative Update to Note 13 – Other income/expenses Note 14 – Discontinued operations Note 15 – Income tax | Implemented PFRS 18 legislative updates across Other Income and Expenses (Note 13) and Discontinued Operations (Note 14). Updates included the introduction of new PFRS 18 disclosure notes covering Other Individual Immaterial Operating Income (13.1), Other Individual Immaterial Operating Expenses (13.2), Other Individual Immaterial Income from Investments (13.3), Interest Expenses on Other Liabilities (13.4), Specified Expenses by Nature in the Operating Category (13.5), Research and Development Costs (13.6), Foreign Exchange Differences (13.7), and Administrative Expenses (13.8). Additional enhancements included required table content, note restructuring and renaming updates, duplicated content where necessary, and revised disclosure wording to align with PFRS 18 presentation and disclosure requirements. |
5321954 | PFRS18 Legislative Update to Note 16 – Management-defined performance measure (MPM) Note 17 – Earnings per share (EPS) Note 18 – Property, plant and equipment Note 19 – Investment properties | Added new disclosure notes for Management-defined Performance Measures (MPM) (Note 16) and Earnings per Share (EPS) (Note 17), including comprehensive narrative disclosures and supporting tables to meet new PFRS 18 reporting requirements. Additionally, implemented PFRS 18 legislative updates to Property, Plant and Equipment (Note 18) and Investment Properties (Note 19), incorporating required table content and presentation enhancements to ensure alignment with PFRS 18 disclosure and presentation requirements. |
5446981 | PFRS 18 Legislative Update to Note 20 – Intangible assets and goodwill Note 21 – Goodwill and intangible assets with indefinite useful lives Note 22 – Financial assets and financial liabilities Note 23 – Inventories Note 24 – Trade receivables and contract assets Note 25 – Cash and short-term deposits | Implemented PFRS 18 legislative updates across Intangible Assets and Goodwill (Note 20), Financial Assets (Note 22.1), Financial Liabilities – Interest-bearing Loans and Borrowings (Note 22.2), Fair Values (Note 22.4), Financial Risk Management Objectives and Policies (Note 22.5), Changes in Liabilities Arising from Financing Activities (Note 22.6), Inventories (Note 23), Trade Receivables and Contract Assets (Note 24), and Cash and Short-term Deposits (Note 25). Updates included the incorporation of required table content, disclosure enhancements, presentation and wording revisions, and related cross-reference updates to align with PFRS 18 requirements. These changes ensure consistency and compliance across asset, liability, liquidity, and financial risk management disclosures. |
5321955 | PFRS18 Legislative Update to Note 26 – Issued capital and reserves Note 27 – Distributions made and proposed Note 28 – Provisions Note 29 – Government grants Note 30 – Contract liabilities | Completed PFRS 18 legislative updates for Issued Capital and Reserves (26), Provisions (28), and Government Grants (29), incorporating required table content and presentation updates to align with PFRS 18 disclosure requirements. |
5321666 | PFRS18 Legislative Update to Note 31 – Trade and other payables Note 32 – Leases Note 33 – Pensions and other post-employment benefit plans Note 34 – Share-based payments Note 35 – Commitments and contingencies Note 36 – Related party disclosures Note 37 – Standards issued but not yet effective Note 38 – Events after the reporting period | Implemented PFRS 18 legislative updates across Trade and Other Payables (Note 31), Leases (Note 32), Pensions and Other Post-employment Benefit Plans (Note 33), Share-based Payments (Note 34), Related Party Disclosures (Note 36), and Standards Issued but Not Yet Effective (Note 37). Updates included the incorporation of required table content, disclosure wording revisions, presentation enhancements, note restructuring and renaming adjustments, related note cross-references, and updates to standards application disclosures. These changes ensure alignment with PFRS 18 requirements and maintain consistency across liability, employee benefit, related party, and standards-related disclosures. |
5598813 | Appendix | Updated Appendix 4 by aligning the Note 2.3.2 (Investments in Associates and Joint Ventures) example with PFRS 18 requirements through revised wording, disclosure examples, and presentation guidance. Also applied minor consistency and wording updates across other appendix sections to reflect related PFRS 18 legislative changes. Appendix 9, 10, 11 are not separately provided as these are part of primary financial statement. Minor adjustments have been implemented to match with the appendix changes. |
5601102 | Addition of condition for Notes to Accounts: Publicly listed content | Implemented publicly listed company disclosure enhancements across the financial statements, accounting policies, and supporting notes. Updates included the addition of Earnings per Share (EPS) disclosures within the Summary of Accounting Policies (Note 2.3.26), Correction of an Error disclosures (Note 2.5.3), and a dedicated Earnings per Share note (Note 17). Enhanced Disaggregated Revenue Information (Note 4.1) by incorporating publicly listed entity disclosure requirements and cross-references to Segment Information (Note 5), while also introducing Segment Information as a new disclosure section for publicly accountable entities. Additional updates included integrating EPS-related disclosure content into the Statement of Profit or Loss and the Statement of Profit or Loss and Other Comprehensive Income, adding relevant EPS cross-references within Share-based Payments (Note 2.3.24), and updating Standards Issued but Not Yet Effective (Note 37) to reflect publicly listed entity considerations related to future standards applicability and public accountability requirements. |
What's coming
Next release information
- Content Version: 16.0
- Expected Release Period: December 2026
- Update Type: Major (Legislative, Features and Corrections)
- Note: The expected release period and update type are indicative only and remain subject to confirmation. In some cases, only a license key release may be required, particularly for templates that are not expected to receive a mid-year or year-end update in the future.
Known issues
Item ID | Details and limitations |
|---|---|
1 | Upgraded OAP file to 6.29.9459 is available in this release pack. However, for users wishing to update to the 6.29 platform, please note that there is a known issue where even when elements are displayed as "Never", the report will still display the element. |
2 | There is a character limitation in grid column headings i.e., grid headers can take up to 60 characters only. Previously all column headers have been linked to the grid column. However, if the column header exceeds more than 60 characters, in such cases please remove the link on the header to the grid column and input the complete heading manually. |
Additional information
Item ID | Details and limitations |
|---|---|
1 | PFRS 18 application approach: PFRS 18-related updates have been introduced using a parallel content approach. The original PAS 1-based content has generally been retained, while separate PFRS 18-related content has been added or duplicated where required. This allows users to continue with the PAS 01 reporting flow or apply the PFRS 18 reporting flow where early adoption is intended. |
2 | Reporting basis and user decision: Users should first confirm whether the entity is early adopting PFRS 18 or continuing on a PAS 1 basis. This decision determines which trial balance, mapping, categories, report elements, tables, tabs, grids, Table of Contents items, and disclosure content should be used. |
3 | Early adoption of PFRS 18: Users early adopting PFRS 18 should use the PFRS 18-related trial balance and mapping files provided in this release pack, together with the related PFRS18 Categories, report elements, paragraphs, tables, tabs, grids, drilldowns, Table of Contents items, and disclosure content. |
4 | Continuing with PAS 1: Users not early adopting PFRS 18 should continue using the existing PAS 1 reporting flow. As this release provides the PFRS 18-related trial balance and mapping set, users should obtain and use the original PAS 1 trial balance and mapping from the previous release pack. |
5 | Content labels and codes: Content labelled "(PAS 1)" generally represents retained original content, while content labelled "(PFRS 18)" generally represents PFRS 18-related content. Original PAS 1 IDs and codes have generally been retained unchanged. PFRS 18-related duplicated or newly added content may include "2" at the end of the relevant ID, AP category code, or related code. |
6 | Duplicated content and links: Some report elements, paragraphs, tables, tabs, grids, and categories have been duplicated rather than overwritten. This preserves the original PAS 1 content, IDs, links, and behaviour while allowing PFRS 18-related content to be applied separately. Users should select the version that aligns with the entity's reporting basis. |
7 | Tables, grids, categories, and mappings: PFRS 18-related table, grid, and category content has been added or duplicated where required. Users early adopting PFRS 18 should use the PFRS 18-related table, tab, category, and mapping content. Users should ensure that table line items and mapped balances are linked to the categories that correspond to the selected reporting basis. |
8 | Draft template display settings: In the draft template, PAS 1 and PFRS 18-related content may both be available as conditional content. Users should configure display settings based on the entity's reporting basis and avoid displaying both versions of the same content unless this is specifically intended. |
9 | Illustrative files and publicly listed disclosures: The illustrative publication and illustrative OAP included in this release pack have been prepared for illustrative purposes on a PFRS 18 basis and may include publicly listed company disclosure content, such as Segment Information and Earnings Per Share-related disclosures. Users should assess whether this content is applicable and adjust the entity-specific report accordingly. For guidance on the related display settings, please refer to Item 10 below. |
10 | Publicly listed company disclosure display settings: Selected publicly listed company disclosures, including Segment Information and earnings per share-related disclosures, are optional and controlled by the PublicListedRelatedDisclosuresDisplay variable. This variable has been added at the Annual Report variable level as the main control point. The same variable has also been applied to the Display Condition for the related publicly listed disclosure sections and elements, so that the relevant content follows the setting selected at the Annual Report level. In the draft template, this variable is set to false by default, and the relevant sections/folders remain conditional. Where these disclosures are applicable, users should set the variable to true and select the relevant sections/folders in the report tree, including the applicable "Include in contents", "Include in report map", and "Include in numbering" options, so that the content is displayed properly. Users should assess applicability based on the entity's reporting requirements. |
11 | Trial balance and mapping updates: The current trial balance has been updated to support the PFRS 18 changes, including value adjustments and dummy accounts where needed. The account description column identifies the relevant adjustments, and the relevant period values have been updated where applicable. Mapping files have also been updated for the affected primary statement and expense-by-function accounts to align with the trial balance changes. Users should refer to the relevant trial balance and mapping files in the release pack for details. |
12 | Final consistency checks: Before finalising the report, users should confirm that the selected trial balance, mapping, categories, report elements, paragraphs, tables, tabs, grids, Table of Contents, drilldowns, analytical reports, and display settings are aligned to the same reporting basis. Users should refer to the Content Change List, Track Changes, comparison materials, and release pack documentation for detailed change information. |
13 | Please be aware 'Prior to alignment to PFRS content' folder which contains the old contents will be removed in the next 1 year. |
Impact on existing clients
Item ID | Details and limitations |
|---|---|
1 | This release does not automatically determine whether an entity should report on a PFRS 18 or PAS 1 basis. Existing clients should confirm the entity's reporting basis before finalising the report, as this affects the trial balance, mapping, categories, tables, report elements, disclosures, and display settings. |
2 | Users early adopting PFRS 18 should use the PFRS 18 trial balance and mapping included in this release pack. Users continuing on a PAS 1 basis should obtain and use the original PAS 1 trial balance and mapping from the previous release pack. |
3 | After upgrade, users should review the existing client file to ensure that only content applicable to the entity's reporting basis is displayed. This includes reviewing duplicated PAS 1/PFRS 18 content, conditional display settings, Table of Contents items, tables, tabs, grids, categories, and publicly listed company disclosure content where applicable. Users should also refer to Additional Information Item 10 for the related publicly listed company disclosure display settings. |
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