Browsing Tag:philippines startup accounting services

SEC PRFS for Small Businesses – Simplified

Already existing in the Philippines as early as 2005, the Philippine Financial Reporting Standards (PFRS) helps businesses in terms of business decision making, data comparisons, and increase in accuracy on financial statements. PFRS was adapted from the International Financial Reporting Standards (IFRS) for the country to have a standard when it comes to financial reporting practices. Ever since the existence of PFRS, businesses registered with the Securities and Exchange Commission (SEC) are required to integrate PFRS and use it as…