Megachem Limited Annual Report 2015 131 Notes to the Financial Statements 31 December 2015 33. New or amended standards in issue but not yet effective For the future reporting years new or revised Singapore Financial Reporting Standards and the related Interpretations to FRS (“INT FRS”) were issued by the Singapore Accounting Standards Council and these will only be effective for future reporting years. Those applicable to the reporting entity for future reporting years are listed below. The transfer to the applicable new or revised standards from the effective dates is not expected to result in material adjustments to the financial position, results of operations, or cash flows for the following year. FRS No. Title Effective date for periods beginning on or after FRS 1 Amendments to FRS 1: Disclosure Initiative 1 Jan 2016 FRS 16 & 38 Amendments to FRS 16 and FRS 38: Clarification of Acceptable Methods of Depreciation and Amortisation 1 Jan 2016 FRS 27 Amendments to FRS 27: Equity Method in Separate Financial Statements 1 Jan 2016 Various Improvements to FRSs (Issued in November 2014) FRS 34 Interim Financial Reporting - Disclosure of information elsewhere in the interim financial report 1 Jan 2016 FRS 115 Revenue from Contracts with Customers 1 Jan 2018 FRS 109 Financial Instruments 1 Jan 2018
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