October 20, 2011
SRC RULE 68, AS AMENDED
PART I
General Financial Reporting Requirements
1. Application and Definition of Terms
A. Application of this Rule
(i) This Rule (together with subsequent official pronouncements, interpretations and rulings on accounting and reporting matters, which may be issued by the Commission from time to time) states the requirements applicable to the form and content of financial statements required to be filed with the Commission by corporations which meet the threshold, as follows:
a) Stock corporations with paid-up capital stock of P50,000.00 or more;
b) Non-stock corporations with total assets of P500,000.00 or more, or with gross annual receipts of P100,000.00 or more;
c) Branch offices of stock foreign corporations with assigned capital in the equivalent amount of P1,000,000.00 or more;
d) Branch offices of non-stock corporations with total assets in the equivalent amount of P1,000,000.00 or more;
e) Regional operating headquarters of foreign corporations with total revenues in the equivalent amount of P1,000,000.00 or more.
(ii) Financial statements of branch offices of foreign corporations licensed to do business in the Philippines by the Commission shall comply with the requirements of...
