Page 57 - Nanyang Technological University

NOTES TO FINANCIAL STATEMENTS
(cont’d)
31 March 2016

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)

2.19 New standards and on interpretations not yet adopted

At the date of authorisation of these financial statements, the following FRSs and amendments to FRS that are
relevant to the Group and the University Company were issued but not effective:

(i) Improvements to Financial Reporting Standards (November 2014)1
(ii) FRS 109 Financial Instruments2
(iii) FRS 115 Revenue from Contracts with Customers2
(iv) Amendments to FRS 115 Clarifications to FRS 115 Revenue from Contracts with Customers2
(v) FRS 116 Leases3

1 Applies to annual periods beginning on or after 1 January 2016, with early application permitted.
2 Applies to annual periods beginning on or after 1 January 2018, with early application permitted.
3 Applies to annual periods beginning on or after 1 January 2019, with early application permitted.

Management anticipates that the adoption of the above FRSs and amendments to FRS in future periods will not
have a material impact on the financial statements of the Group and of the University Company in the period of
their adoption.

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