Financial Reporting
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...
Bursa Malaysia Directives on disclosure of realised and unrealised profit or loss
Further to our blog on “How to determine Realised / Unrealised Profits?”, there are some new developments in the accounting profession and regulator’s directives.
Revised Bursa Malaysia Directive dated 20 December 2010
In the Bursa Malaysia...
How to determine Realised / Unrealised Profits?
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...
MASB confirms Malaysia to converge with IFRS on 1 Jan 2012
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...
MASB defers IC Interpretation 15 Agreements for the Construction of Real Estate
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...
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...
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...
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...
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...