Financial Reporting

IASB issued 3 new IFRSs on Consolidation and Joint Venture Arrangements

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On 12 May 2012, the International Accounting Standards Board (IASB) issued 3 new IFRSs on accounting for consolidation, joint (venture) arrangements and disclosure of...

Key differences between FRS and MFRS

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The MASB had on 17 November 2011 announced and confirmed that Malaysia will converge with IFRS by 1 January 2012 and issued a new...

MASB calls for IAS 41 post-implementation review

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In a meeting of National Standard Setters (NSS) in March 2011, the Malaysian Accounting Standards Board (MASB) called for limited amendments to IAS 41...

MASB defers IC Interpretation 15 Agreements for the Construction of Real Estate

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

SC launched 5-year Corporate Governance Blueprint

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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...

How to determine Realised / Unrealised Profits?

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There are increasing MASB accounting standards which require the application of fair value accounting and measurement in the financial statements, notable accounting standards include...

New IFRS 13 on Fair Value Measurement

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On 12 May 2011, the IASB has issued IFRS 13 Fair Value Measurement which replaces the guidance on fair value measurement in existing IFRS...

IFRS compliant by 2012 in Malaysia is ON

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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...

Application of IAS 41 Agriculture in Malaysia

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In January 2006, Malaysian Accounting Standards Board (MASB) issued Exposure Draft ED 50 Agriculture for public comments by professional accounting bodies, regulators, users and...

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