Skip to main content
Singapore IFRS
Search
Search Statutory Reporting (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 8 - February 2025 (template release)

Template release pack

This release focuses on the legislative content changes, features, and correction updates for the period ending December 2024. The template is available on platform 6.28.9259 / 6.29.9459 / 6.30.9574 / 6.31.9627 / 6.32.9713.

Release notes

  • Period ended: December 2024
  • Update type: Major (Legislative, Feature, and Corrections).
Overview
This template release includes important legislative updates and IFRS-alignment changes, along with features and corrections.
Key Legislative Updates
The following legislative updates are effective for annual periods beginning on or after January 1, 2024:
  • Amendments to IAS 12 Income Taxes - International Tax Reform - Pillar Two Model Rules
  • Amendments to IAS 1: Classification of Liabilities as Current or Non-current
  • Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback
  • Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7
  • Lack of exchangeability – Amendments to IAS 21
  • Sale or Contribution of Assets between an investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28
  • IFRS 18 – Presentation and Disclosure in Financial Statements
  • Classification and Measurement of Financial Instruments – Amendments
  • IFRS 19 - Subsidiaries without Public Accountability: Disclosures
note
Additional folders have been created to store dated content at the bottom of each of the folder levels of the annual report as well as the category structure, please review these elements and create duplicates to retain elements if needed.
Legislative
For detailed and specific changes, kindly refer to the document named
SG.I.CT (02.2025) (P 6.28.9259 C 8.0 - Content Change List (Full Version))
 which contains the complete list of content updates.
Accounting Reference Number
Details
IAS 12
Amendments to IAS 12 Income Taxes - International Tax Reform - Pillar Two Model Rules
  • A mandatory temporary exception to the accounting for deferred taxes arising from the jurisdictional implementation of the Pillar Two model rules.
  • Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date.
IAS 1
Amendments to IAS 1: Classification of Liabilities as Current or Non-current
  • In January 2020 and October 2022, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current.
  • The amendments clarify:
    1. What is meant by a right to defer settlement.
    2. That a right to defer must exist at the end of the reporting period.
    3. That classification is unaffected by the likelihood that an entity will exercise its deferral right.
    4. That is only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification.
IFRS 16
Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback
  • In September 2022, the IASB issued amendments to IFRS 16 to specify the requirements that a seller-lessee uses in measuring the lease liability arising in a sale and leaseback transaction, to ensure the seller-lessee doesn’t recognize any amount of the gain or loss that relates to the right of use it retains.
  • The amendments will be effective for annual reporting periods beginning on or after January 1, 2024.
IAS 7 and IFRS 7
Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7
  • In May 2023, the IASB issued amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures to clarify the characteristics of supplier finance arrangements and require additional disclosure of such arrangements.
  • The amendments will be effective for annual reporting periods beginning on or after January 1, 2024.
IAS 21
Lack of exchangeability – Amendments to IAS 21
  • Lack of Exchangeability amends IAS 21 The Effects of Changes in Foreign Exchange Rates to require an entity to apply a consistent approach to assessing whether a currency is exchangeable into another currency and, when it is not, to determine the exchange rate to use and the disclosures to provide.
  • The amendments will be effective for annual reporting periods beginning on or after January 1, 2025.
IFRS 10 and IAS 28
Sale or Contribution of Assets between an investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28
  • The main consequence of the amendments is that a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not). A partial gain or loss is recognized when a transaction involves assets that don’t constitute a business, even if these assets are housed in a subsidiary.
  • Early application of the amendments is still permitted and must be disclosed. The amendments must be applied prospectively.
IFRS 9 and IFRS 7
Classification and Measurement of Financial Instruments – Amendments
  • In May 2024, the Board issued Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7).
  • The amendments will be effective for annual reporting periods beginning on or after January 1, 2026.
IFRS 18
IFRS 18 – Presentation and Disclosure in Financial Statements
  • IFRS 18 introduces guidance on where information should be disclosed in the primary financial statements or the notes, enhanced requirements for grouping of information and using meaningful labels for items presented or disclosed and specific disaggregation requirements for presenting and disclosing operating expenses.
  • IFRS 18, and the amendments to the other accounting standards, is effective for reporting periods beginning on or after January 1, 2027 and will apply retrospectively and in interim financial statements. Early adoption is permitted and must be disclosed.
IFRS 19
IFRS 19 - Subsidiaries without Public Accountability: Disclosures
  • IFRS 19 simplifies financial reporting for eligible subsidiaries, enabling them to apply IFRS Accounting Standards with reduced disclosure requirements.
  • IFRS 19 is effective for reporting periods beginning on or after January 1, 2027.
Corrections
Item ID
Title
Details and Limitations
2570337
Addition of Content retention instruction
The old Content Retention Folder under NLUC Categories has been renamed as
Pre 2024 [to be reviewed for deletion YE 2029]
.
Created a folder called
Pre 2024 [to be deleted YE 2029]
 at the bottom of that level of the tree structure to keep our content clean. Please note that old content will be deleted in 5 years.
Also, Content retainment instruction has been added into the newly added folder to give instruction on how users can keep their content if they want.
2230730
Extra 1 and Extra 2 columns haven’t been included in the Total column in some places
Included Extra 1 and Extra 2 columns in Total column throughout the Non – standard tables in the report.
2230082
Revisit: Exceptions to column naming
Corrected the column header names for all the columns of non-standard tables in the report.
2202734
Removed 'White text' style in all tables throughout the report
Removed “White text” style throughout the report.
2487188
Display condition set to 'Always' in Cover page, Content page, P&L, and Balance sheet statement.
To get rid of the ‘Unable to fetch Report Element’ error, we changed the display of Cover page, Content page, P&L, and Balance sheet statement from
Conditional
 to
Always
 in draft.
2467061
Line item in SOCIE
Added line item
Effect of adoption of SFRS(I)/ FRS XX
 line item and gave the condition as
ShowSFRScode=true
 and
ShowSFRScode=false
.
2467059
Added Restated word in Primary Statements
Added
Restated
 word for Primary Financial statements.
2470668
Added 'Lease liabilities' expressions in Note 5 Capital management.
Added expression in Capital management.
2340788
Renamed the folder that contains the old contents
Changed the folder name from
2022 legacy customize paragraph elements
 to
2022 contents
.
2265162
Removed duplicated numbers in some movement tables
In Issues capital and reserves, Other capital reserves, then In all the reconciliation tables column display, we changed
non zero
 to
Never
.
2230734
Duplicated foot note in Appendix - GAAP overlay
Removed duplicate footer Appendix - GAAP overlay.
2230647
Underlines (Headers, style) have been left in many places
Made necessary changes in styles and header styles as per the legislative update.
2230646
Note 31: Calculation columns have wrong 'Expression' after renaming columns
Corrected the Calculation expressions throughout the report.
2230086
Revisit: Change in data storage for Appendix 2 - Simple revenue disclosures from grid to category
Added reconciliation table in Appendix 2- Simple revenue disclosures.
2230084
Revisit: Ensure all non-standard grids to have the ability to add Date, Currency, and Text columns
In CFPD Value Column [Date] and Value Column [Text] moved up and located under Value Column [Currency].
2230258
Various inconsistencies with the model content
Made necessary changes as per legislative update.
2621677
Added missing line item "Investment in subsidiaries"
Added line item in Appendix 4 as per legislative update.
2570337
Addition of Content retention instruction
Created a folder called
Pre 2024 [to be deleted YE 2029]
 in Note 3 under
Judgement
 then
Assets
 held for sale note and moved unwanted list item to the created folder.
2771565
Reverse attribute in the additional null line item in the grids
Set up the
Reverse
 attribute into
True
 in the following grids’ null line item.
  • Leases, Group as a lessee, then Carrying amount of lease liabilities and the movement
  • Investment in subsidiaries, Movement in the investments in subsidiaries, then AccumulatedImpairmentMovement
Set up the
Reverse
attribute into
True
 in the below grid’s 2 extra categories.
  • Property plant and equipment, Depreciation and impairment, then section
    MovementPriorPriorCategory
Features
Item ID
Title
Details and Limitations
2492975
A new variable is added into the Configure FPD in the Variable level of both the [FY] Non-Import and the [FY] Non-Import [Custom]
Added a Rounding variable in [FY] Non-Import and [FY] Non-Import under Variable in CFPD and did Rebuild Data Structure.
2340786
Added a feature where each of the notes folder is now conditionally displayed according to if the related category has a value in it or not
Linked categories correctly:
  • Note 9 Interest in a joint venture
  • Note 10 Investment in an associate
  • Note 17 Intangible assets
  • Appendix 2 – Simple revenue disclosure by “Type of revenue”.
  • Appendix 3
2257614
Ensure non-zero values apply to all sections and columns and total rows
Every column display is set to
Non-Zero
 and Total row is set to
As Required
.
Content changes
Item ID
Title
Details and limitations
2672933
Legislative changes to Single Entity
Note 3 - Significant accounting judgments
Created
Pre 2024 [to be reviewed for deletion YE 2029]
 folder and moved deleted list item under this folder.
2672933
Note 4 - Revenue from contracts with customers
Edited the line item in the table.
2672933
Note 5 - Capital management
Added the text in the paragraph.
2672933
Note 9 - Interest in a joint venture
Added the sentence and IFRS replaced SFRS(I)FRS.
  • For SFRS(I) gave the condition as ShowSFRScode=true
  • For FRS gave the condition as ShowSFRScode=false
2672894
Legislative changes to Single Entity Appendix
Created a new folder as
Illustrative disclosure about Pillar Two taxes
, and added information.
2672900
Legislative changes to Consolidated Entity Appendix 4, 5 and 6
Updated Appendix 4, 5 and 6 as per IFRS legislation changes and added
Illustrative disclosure about Pillar Two taxes
 folder.
2672898
Legislative changes to Consolidated Entity
Note 3 - Significant accounting judgments
Created
Pre 2024 [to be reviewed for deletion YE 2029]
 folder and moved deleted list item under this folder.
2672898
Note 4 - Revenue from contracts with customers
Edited the line item in the table.
2672898
Note 5 - Capital management
Added the text in the paragraph.
2672898
Note 7 - Business combinations and acquisition of non-controlling interests
Added a new sentence in the paragraph.
2672898
Note 9 - Interest in a joint venture
Added the sentence and IFRS replaced SFRS(I)FRS.
  • For SFRS(I) gave the condition as
    ShowSFRScode=true
  • For FRS gave the condition as
    ShowSFRScode=false
2672896
Legislative changes to consolidated entity
Note 13 - Discontinued operations
Made necessary changes and gave the condition as
ShowConsol=false
.
Created Grid table as model content.
2672896
Note 14 - Income tax
Added new paragraph.
Replaced 1AS 12 with SFRS(I) 1-12FRS12 and gave the necessary condition.
Edited the line-item name in the grid table.
2672896
Note 19 - Financial assets and financial liabilities
Updated text as per legislative changes.
2672896
Note 29 - Trade and other payables
Created a grid table and also changed the condition for the 3rd column from
ShowTS2Col3 and ShowConsol
 to true as to appear it on the face.
2672896
Note 30 - Leases
Updated text as per legislative changes.
2672899
Legislative changes to Single Entity
Note 13 - Discontinued operations
Made necessary changes and gave the condition as
ShowConsol=false
.
Created Grid table as model content.
2672899
Note 14 - Income tax
Added new paragraph.
Replaced
1AS 12
 with
SFRS(I) 1-12FRS12
 and gave the necessary condition.
Edited the line-item name in the grid table.
2672899
Note 18 - Goodwill and intangible assets with indefinite useful lives
Updated text as per legislative changes.
2672899
Note 19 - Financial assets and financial liabilities
Updated text as per legislative changes.
2672899
Note 29 - Trade and other payables
Created a grid table and also changed the condition for the 3rd column from
ShowTS2Col3 and ShowConsol
 to true as to appear it on the face.
2672899
Note 30 - Leases
Updated text as per legislative changes.
2672902
Wording Adjustments to Disclosure Emphasis on Removing Outdated Content
Adjustment of wording of the folder and paragraphs for removing outdated content related to the feature ID 188 Disclosure Emphasis on Removing Outdated Content.
2766870
Legislative changes to the Appendix GAAP Overlay
Note 2.3x - Investments in subsidiaries, associates, and joint ventures
An
Investment in Subsidiaries
 note has been added, which is relevant to Note 2.3, Summary of Material Accounting Policy Information. This update has been made in accordance with Singapore local regulations and can be found under Appendix GAAP Overlay 3.
Set the display condition of the Investment in Subsidiaries note to
ShowBoth
.
2766864
Legislative changes to the Appendix GAAP Overlay - Consolidated statement of changes in equity
Following a thorough consultation with the content provider, we’ve verified that the inclusion of the Company's Statement of Changes in Equity (SOCIE) in the consolidated financial statements is not mandatory.
Given this confirmation, no modifications to the current presentation of the consolidated financial statements are necessary. The existing format remains compliant with the relevant financial reporting standards and guidelines.
2766861
Legislative changes to the Appendix GAAP Overlay
Note 2 - Material accounting policies
Accounting Policies have been updated to 'Material Accounting Policies'.
2766861
Note 2.3 - Summary of material accounting policy information
Summary of Accounting Policies has been revised to
Summary of Material Accounting Policies
.
2766860
Legislative changes to the Appendix GAAP Overlay - Consolidated statement of financial position
It is mandatory to include the Company's Statement of Financial Position when presenting the consolidated financial statements. This requires disclosing both the current year's and the comparative year's Statement of Financial Position for the Company, alongside the Group figures.
As a result, we have made the necessary changes to display the
Statement of Financial Position for the Company
 within the consolidated financial statements.
2673466 and 2673465
Legislative changes to the Consolidated and Single Entity Accounting Policies
Updated new accounting standard disclosures in note
Accounting Policies
 according to the legislative requirement.
All the local changes are updated under Appendix GAAP overlay 6.
Moved old accounting standards to
Pre 2024 [to be reviewed for deletion YE 2029]
.
Please be aware that the
Pre 2024 [to be reviewed for deletion YE 2029]
 folder will be reviewed for deletion in the next 5 years.
2673463 and 2673462
Legislative changes to Consolidated and Single Entity
Note 35 - Standards issued but not yet effective
Updated the text and tables according to the legislative requirement in note
Standards issued but not yet effective
.
IFRS changes are updated in the Note 35
Standards issued but not yet effective
.
All the local changes are updated under Appendix GAAP overlay 2.
Moved old accounting standards to
Pre 2024 [to be reviewed for deletion YE 2029]
.
Please be aware that the
Pre 2024 [to be reviewed for deletion YE 2029]
 folder will be reviewed for deletion in the next 5 years.
XBRL changes
There is no XBRL for this release.
Impact on existing clients
There are no impacts identified for this release.
Deviations from standard configuration
There are no deviations identified for this release.
Appendix
There are no appendix items for this release.

Known issues

  • For users who would like to work on the
    6.29.9459
     platform, there is a Display setting issue because of the platform error. When viewing notes individually,
    Report
     elements that are set to
    Never
     are still appearing in both Preview and Design modes. However, these elements are correctly hidden when you view the full report.
  • Grid column headers can only have up to 60 characters. Previously all column headers were linked to the grid column. If a header is longer, you'll need to unlink it from the grid column and type the full heading manually.

Additional information

  • Old content will be removed in 5 years' time.
  • We created additional folders to store dated content at the bottom of each folder level of the annual report, as well as within the category structure. Please review these elements and create duplicates to retain them if needed.
  • The
    Pre 2024 [to be reviewed for deletion YE 2029]
     folder will be reviewed for deletion in the next 5 years.
  • Added
    Appendix-GAAP overlay
     to include all changes needed for significant differences in local countries.
  • Each note in
    Appendix – GAAP overlay
     has a phrase called '
    Insert location to financial statement.
    ' This phrase is visible only in design mode and can't be edited. It provides instructions on where to insert the note in the financial statement.
  • We moved
    Directors’ report
     and
    Note 35. Standards issued but not yet effective
     into the
    Appendix – GAAP overlay
     section.

Related Content