Financial Reporting

There are increasing MASB accounting standards which require the application of fair value accounting and measurement in the financial statements, notable accounting standards include fair value model under FRS 140 Investment Properties and recognition...

19 November 2011 - The Malaysian Accounting Standards Board  (MASB) today issued a new MASB approved accounting framework, named as “Malaysian Financial Reporting Standards (MFRS Framework)”, which are word-by-word equivalent to IFRS standards issued...

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...

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...

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...

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...

On 30 Aug 2010, Malaysian Accounting Standards Board (MASB) announced to defer the effective date of IC Interpretation 15 Agreements for the Construction of Real Estate (IC 15) from 1 July 2010 to 1...

The MASB had on 17 November 2011 announced and confirmed that Malaysia will converge with IFRS by 1 January 2012 and issued a new Malaysian Financial Reporting Standards (MFRS) framework that are effective from...

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...