Nepal Financial Reporting Standards (NFRS) 2018

 

S.No.	Name of Standards	Effective Date
	The Conceptual Framework for Financial Reporting	July 16, 2020
1	NFRS 1 First-time Adoption of Nepal Financial Reporting Standards	July 16, 2020
2	NFRS 2 Share-based Payment	July 16, 2020
3	NFRS 3 Business Combinations	July 16, 2020
4	NFRS 4 Insurance Contracts	July 16, 2020
5	NFRS 5 Non-current Assets Held for Sale and Discontinued Operations	July 16, 2020
6	NFRS 6 Exploration for and Evaluation of Mineral Resources	July 16, 2020
7	NFRS 7 Financial Instruments: Disclosures	July 16, 2020
8	NFRS 8 Operating Segments	July 16, 2020
9	NFRS 9 Financial Instruments	July 16, 2021
10	NFRS 10 Consolidated Financial Statements	July 16, 2020
11	NFRS 11 Joint Arrangements	July 16, 2020
12	NFRS 12 Disclosure of Interests in Other Entities	July 16, 2020
13	NFRS 13 Fair Value Measurement	July 16, 2020
14	NFRS 14 Regulatory Deferral Accounts	July 16, 2021
15	NFRS 15 Revenue from Contracts with Customers	July 16, 2021
16	NFRS 16 Leases	July 16, 2021
17	NFRS 17 Insurance Contracts	July 17, 2024
	Nepal Accounting Standards (NAS)
18	NAS 1 Presentation of Financial Statements	July 16, 2020
19	NAS 2 Inventories	July 16, 2020
20	NAS 7 Statement of Cash Flows	July 16, 2020
21	NAS 8 Accounting Policies, Changes in Accounting Estimates and Errors	July 16, 2020
22	NAS 10 Events after the Reporting Period	July 16, 2020
23	NAS 12 Income Taxes	July 16, 2020
24	NAS 16 Property, Plant and Equipment	July 16, 2020
25	NAS 19 Employee Benefits	July 16, 2020
26	NAS 20 Accounting for Government Grants and Disclosure of Government Assistance	July 16, 2020
27	NAS 21 The Effects of Changes in Foreign Exchange Rates	July 16, 2020
28	NAS 23 Borrowing Costs	July 16, 2020
29	NAS 24 Related Party Disclosures	July 16, 2020
30	NAS 26 Accounting and Reporting by Retirement Benefit Plans	July 16, 2020
31	NAS 27 Separate Financial Statements	July 16, 2020
32	NAS 28 Investments in Associates and Joint Ventures	July 16, 2020
33	NAS 29 Financial Reporting in Hyperinflationary Economies	July 16, 2021
34	NAS 32 Financial Instruments: Presentation	July 16, 2020
35	NAS 33 Earnings per Share	July 16, 2020
36	NAS 34 Interim Financial Reporting	July 16, 2020
37	NAS 36 Impairment of Assets	July 16, 2020
38	NAS 37 Provisions, Contingent Liabilities and Contingent Assets	July 16, 2020
39	NAS 38 Intangible Assets	July 16, 2020
40	NAS 39 Financial Instruments: Recognition and Measurement	July 16, 2020
41	NAS 40 Investment Property	July 16, 2020
42	NAS 41 Agriculture	July 16, 2020
	Interpretation name
	IFRIC
1	IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities	July 16, 2020
2	IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments	July 16, 2020
3	IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds	July 16, 2020
4	IFRIC 6 Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment	July 16, 2020
5	IFRIC 7 Applying the Restatement Approach under NAS 29 Financial Reporting in Hyperinflationary Economies	July 16, 2020
6	IFRIC 10 Interim Financial Reporting and Impairment	July 16, 2020
7	IFRIC 12 Service Concession Arrangements	July 16, 2020
8	IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction	July 16, 2020
9	IFRIC 16 Hedges of a Net Investment in a Foreign Operation	July 16, 2020
10	IFRIC 17 Distributions of Non-cash Assets to Owners	July 16, 2020
11	IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments	July 16, 2020
12	IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine	July 16, 2020
13	IFRIC 21 Levies	July 16, 2020
14	IFRIC 22 Foreign Currency Transactions and Advance Consideration	July 16, 2020
15	IFRIC 23 Uncertainty over Income Tax Treatments	July 16, 2020
	SIC	July 16, 2020
1	SIC-7 Introduction of the Euro	July 16, 2020
2	SIC-10 Government Assistance—No Specific Relation to Operating Activities	July 16, 2020
3	SIC-25 Income Taxes—Changes in the Tax Status of an Entity or its Shareholders	July 16, 2020
4	SIC-29 Service Concession Arrangements: Disclosures	July 16, 2020
5	SIC-32 Intangible Assets—Web Site Costs	July 16, 2020
	*Note: NAS 11, NAS 17 & NAS 18 as per NFRS 2013 will be effective till July 16, 2021 only.

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NFRS 2018