| S. No | Name of Nepal Financial Reporting Standards (NFRS) |
| Preface | |
| Conceptual Framework | |
| 1 | NFRS 1 : First-time Adoption of Nepal Financial Reporting Standards |
| 2 | NFRS 2: Share-based payment |
| 3 | NFRS 3: Business Combination |
| 4 | NFRS 4: Insurance Contracts |
| 5 | NFRS 5 : Non-Current Assets Held for Sale & Discontinued Operation |
| 6 | NFRS 6 : Exploration for and Evaluation of Mineral Resource |
| 7 | NFRS 7: Financial Instruments: Disclosures |
| 8 | NFRS 8 : Operation Segments |
| 9 | NFRS 9: Financial Instrument |
| 10 | NFRS 10 : Consolidated Financial Statements |
| 11 | NFRS 11: Joint Arrangements |
| 12 | NFRS 12 : Disclosure of Interest in Other Entities |
| 13 | NFRS 13 : Fair Value Measurement |
| S.No | Name of Nepal Accounting Standards (NASs) |
| 1 | NAS 1: Presentation of Financial Statements |
| 2 | NAS 2: Inventories |
| 3 | NAS 7 :Statement of Cash Flows |
| 4 | NAS 8: Accounting Policies, Changes in Accounting Estimates and Error |
| 5 | NAS10 :Events after the Reporting Period |
| 6 | NAS 11 : Construction Contracts |
| 7 | NAS 12 : Income Taxes |
| 8 | NAS 16: Property, Plant & Equipment |
| 9 | NAS 17 : Leases |
| 10 | NAS 18 : Revenue |
| 11 | NAS 19 : Employee Benefits |
| 12 | NAS 20 : Accounting for Government Grants and Disclosure of Government Assistance |
| 13 | NAS 21 : The Effects of Changes in Foreign Exchange Rates |
| 14 | NAS 23 : Borrowing Cost |
| 15 | NAS 24 : Related Party Disclosures |
| 16 | NAS 26 : Accounting & Reporting by Retirement Benefit Plans |
| 17 | NAS 27 : Consolidated & Separate Financial Statements |
| 18 | NAS 28 : Investments in Associates |
| 19 | NAS 32 : Financial Instruments: Presentation |
| 20 | NAS 33: Earnings Per Share |
| 21 | NAS 34 : Interim Financial Reporting |
| 22 | NAS 36: Impairment of Assets |
| 23 | NAS 37 : Provisions, Contingent Liabilities & Contingent Assets |
| 24 | NAS 38 : Intangible Assets |
| 25 | NAS 39 : Financial Instruments: Recognition & Measurements |
| 26 | NAS 40 : Investment Property |
| 27 | NAS 41 : Agriculture |
IFRICs & SICs
| S.No | Name of IFRIC & SIC |
| 1 | IFRIC 1: Changes in Existing Decommissioning, Restoration and Similar Liabilities |
| 2 | IFRIC 2: Members' Shares in Co-operative Entities and Similar Instruments |
| 3 | IFRIC 4: Determining whether an Arrangement contains a Lease |
| 4 | IFRIC 5: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds |
| 5 | IFRIC 6: Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment |
| 6 | IFRIC 7: Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies |
| 7 | IFRIC 10: Interim Financial Reporting and Impairment |
| 8 | IFRIC 12: Service Concession Arrangements |
| 9 | IFRIC 13: Customer Loyalty Programmes |
| 10 | IFRIC 14: IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction |
| 11 | IFRIC 15: Agreements for the Construction of Real Estate |
| 12 | IFRIC 16: Hedges of a Net Investment in a Foreign Operation |
| 13 | IFRIC 17: Distributions of Non-cash Assets to Owners |
| 14 | IFRIC 18: Transfers of Assets from Customers |
| 15 | IFRIC 19: Extinguishing Financial Liabilities with Equity Instruments |
| 16 | IFRIC 20: Stripping Costs in the Production Phase of a Surface Mine |
| 17 | SIC-7: Introduction of the Euro |
| 18 | SIC-10: Government Assistance—No Specific Relation to Operating Activities |
| 19 | SIC-15:Operating Leases—Incentives |
| 20 | SIC-25:Income Taxes—Changes in the Tax Status of an Entity or its Shareholders |
| 21 | SIC-27:Evaluating the Substance of Transactions Involving the Legal Form of a Lease |
| 22 | SIC-29:Service Concession Arrangements: Disclosures |
| 23 | SIC-31:Revenue—Barter Transactions Involving Advertising Services |
| 24 | SIC-32:Intangible Assets—Web Site Costs |
| Glossary of the Terms |
| NFRS 2013 Effective Date | ||
| The entities to which NFRSs shall be applicable and the financial year in which fully NFRSs complied Financial Statements to be prepared shall be as follows. However, NFRS-9, Financial Instrument shall be applicable with effect from 16 July 2015 onwards. | ||
| Type | Entities Requiring Implementation of NFRS | NFRS Complied FS |
| A | 1. Listed Multinational Manufacturing Companies | from FY 2014/15 |
| 2. Listed State-Owned Enterprises (SOEs) with minimum paid up capital of Rs. 5 billions (except Banks and Financial Institutions under BAFIA Act, 2006) | ||
| B | 1. Commercial Banks, including state owned commercial banks; | from FY 2015/16 |
| 2. All other Listed State Owned Enterprises (SOEs) | ||
| C | 1. All other Financial Institutions not covered under A & B above | from FY 2016/17 |
| 2. All other SOEs | ||
| 3. Insurance Companies | ||
| 4. All other Listed Companies | ||
| 5. All other Corporate Bodies/Entities not defined as SMEs or entities having borrowing with minimum of Rs. 500 million | ||
| D | NFRSs for SMEs (SMEs: as defined by ASB in NFRS for SMEs) | from FY 2016/17 |
| NOTE: | ||
| 1.Early implementation of NFRSs is encouraged/ recommended. | ||
| 2 Until the implementation of NFRS as per the above schedule, existing NASs shall continue to be effective to such entities. | ||
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