Financial Reporting
Application of IAS 41 Agriculture in Malaysia
In January 2006, Malaysian Accounting Standards Board (MASB) issued Exposure Draft ED 50 Agriculture for public comments by professional accounting bodies, regulators, users and other interested parties. The ED 50 was closed for comments...
Another wave of new IFRS standards hitting Malaysia by 2013
In May 2011, the International Accounting Standards Board (IASB) simultaneously issued six IFRSs, five of which relate to consolidation and one on fair value measurement.
IFRS 10, Consolidated Financial Statements;
IFRS 11, Joint Arrangements;
IFRS 12, Disclosures...
IASB issued 3 new IFRSs on Consolidation and Joint Venture Arrangements
On 12 May 2012, the International Accounting Standards Board (IASB) issued 3 new IFRSs on accounting for consolidation, joint (venture) arrangements and disclosure of involvements with other entities.
Each of the 3 standards have an...
IFRS compliant by 2012 in Malaysia is ON
The Malaysian Accounting Standards Board (“MASB”) has, on 28 June 2011, issued MASB Exposure Draft 75 “IFRS-compliant Financial Reporting Standards” (“MASB ED 75”), which proposes to replace the existing Financial Reporting Standards (“FRS”) in...
Hektar REIT Q3 2010 results & accounting review
Hektar Real Estate Investment Trust (REIT) announced its Q3 2010 results yesterday, with some extracts below:
Cumulative 3 Quarters
Current
Preceding
YTD
YTD
30.9.2010
30.9.2009
%
Revenue
Actual revenue - billing
66,837,205
66,182,580
1.0%
Revenue under FRS 117
1,059,693
-
100%
Total revenue
67,896,898
66,182,580
2.6%
Trade receivables
- actual billing
706,621
375,188
88.3%
- receivables under FRS 117
1,059,693
-
100%
Total trade...
MFRS 9 to result in comprehensive provisioning methods
KUALA LUMPUR: Perbadanan Insurans Deposit Malaysia (PIDM) expects the Malaysian Financial Reporting Standards 9 (MFRS 9), which was implemented on Jan 1, 2018, to result in comprehensive provisioning methods.
In its annual report 2017, it...
SC launched 5-year Corporate Governance Blueprint
The Securities Commission Malaysia on 8 July 2011, launched the 5-year Corporate Governance Blueprint, which provides the action plan to raise the standards of corporate governance in Malaysia.
The Blueprint focuses on 6 areas, namely...
MASB calls for IAS 41 post-implementation review
In a meeting of National Standard Setters (NSS) in March 2011, the Malaysian Accounting Standards Board (MASB) called for limited amendments to IAS 41 Agriculture and requested the IASB to reconsider the accounting treatment...
New IFRS 13 on Fair Value Measurement
On 12 May 2011, the IASB has issued IFRS 13 Fair Value Measurement which replaces the guidance on fair value measurement in existing IFRS accounting literature with a single standard.
The IFRS is the result...