{"id":1771,"date":"2011-11-19T16:34:01","date_gmt":"2011-11-19T08:34:01","guid":{"rendered":"http:\/\/www.nbc.com.my\/blog\/?p=1771"},"modified":"2011-12-02T09:38:55","modified_gmt":"2011-12-02T01:38:55","slug":"another-wave-of-new-ifrs-standards-hitting-malaysia-by-2013","status":"publish","type":"post","link":"https:\/\/www.nbc.com.my\/blog\/another-wave-of-new-ifrs-standards-hitting-malaysia-by-2013\/","title":{"rendered":"Another wave of new IFRS standards hitting Malaysia by 2013"},"content":{"rendered":"<p align=\"left\"><img loading=\"lazy\" decoding=\"async\" style=\"background-image: none; margin: 0px 10px 0px 0px; padding-left: 0px; padding-right: 0px; display: inline; float: left; padding-top: 0px; border: 0px;\" title=\"ifrs\" src=\"https:\/\/www.nbc.com.my\/blog\/wp-content\/uploads\/2011\/11\/ifrs.jpg\" alt=\"ifrs\" width=\"170\" height=\"87\" align=\"left\" border=\"0\" \/><\/p>\n<p align=\"left\">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.<\/p>\n<p align=\"left\">\n<ul>\n<li>IFRS 10, Consolidated Financial Statements;<\/li>\n<li>IFRS 11, Joint Arrangements;<\/li>\n<li>IFRS 12, Disclosures of Interests in Other Entities;<\/li>\n<li>IFRS 13, Fair Value Measurement;<\/li>\n<li>IAS 27 (revised), Separate Financial Statements; and<\/li>\n<li>IAS 28 (revised), Investments in Associates and Joint Ventures.<\/li>\n<\/ul>\n<p align=\"left\"><!--more-->All of these new and revised IFRS standards will become effective from 1 January 2013. With Malaysia will be converged to IFRS by 1 January 2012, meaning to say all new and revised IFRS standards issued by IASB will have the same effective date from 1 January 2013 in Malaysia.<\/p>\n<p>To understand how the new and revised standards affect Malaysia companies, Professor Tan Liong Tong wrote a very interesting and easy to understand technical article on IFRS 10, 11, 12 and 13, titled \u201c<strong><span style=\"color: #ff0000;\">A Single Control Model for Consolidation, Involvement with Other Entities and Fair Value Measurement \u2013 A Review of IFRSs 10 \u2013 13<\/span><\/strong><span class=\"Apple-style-span\">\u201d.<\/span><\/p>\n<p align=\"left\">The technical article is published at MASB website. <a href=\"http:\/\/www.masb.org.my\/index.php?option=com_content&amp;view=article&amp;id=1639:a-single-control-model-for-consolidation-involvement-with-other-entities-and-fair-value-measurement-a-review-of-ifrss-10-13&amp;catid=67:technical-articles&amp;Itemid=94\" target=\"_blank\">Click here to view<\/a>.<\/p>\n<p align=\"left\">Enjoy reading\u2026!!!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 of Interests in Other Entities; IFRS 13, Fair Value Measurement; IAS 27 (revised), Separate Financial Statements; and IAS [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80],"tags":[68,69,67,66],"class_list":["post-1771","post","type-post","status-publish","format-standard","hentry","category-financial-reporting","tag-financial-reporting-standards","tag-frs","tag-ifrs","tag-international-financial-reporting-standards"],"_links":{"self":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/1771"}],"collection":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/comments?post=1771"}],"version-history":[{"count":0,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/posts\/1771\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/media?parent=1771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/categories?post=1771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nbc.com.my\/blog\/wp-json\/wp\/v2\/tags?post=1771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}