MFRS Hub

The Malaysian Accounting Standards Board (MASB) has released amendments to MFRS 9 (equivalent to IFRS 9) ‘Financial Instruments’ and MFRS 7 (equivalent to IFRS 7) ‘Financial Instruments: Disclosures’, following a post-implementation review (PIR) of MFRS 9 completed by International Accounting Standard Board (IASB). The amendments also include consequential changes to MFRS 19 (equivalent to IFRS 19) ‘Subsidiaries without Public Accountability: Disclosures’ to reflect the amendments made to MFRS 7.

On 14 June 2024 the Malaysian Accounting Standards Board (MASB) published a new standard; The new standard, MFRS 18 ‘Presentation and Disclosure in Financial Statements’ (the Standard) replaces MFRS 101 ‘Presentation of Financial Statements’ and will impact every reporting entity that currently uses International Financial Reporting Standards (MFRS).

This article examines the scope of the Standard and considers situations where a contract issued by a non-insurance entity may fall within that scope.

This article focuses on share-based payments directly between the reporting entity and a counterparty.

This article provides an overview including the objective and scope of MFRS 2.

Our ‘Insights into MFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.

Our ‘Insights into MFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.

On 26 June 2023 the International Sustainability Standards Board (ISSB) released its first two International Sustainability Disclosure Standards (IFRS SDS or the Standards) that become effective for periods beginning on or after 1 January 2024.

This article provides a summary of the MFRS 136 disclosure requirements and highlights particular areas of focus for regulators, including select illustrative examples for these areas of focus.

This article considers some regularly encountered application issues when applying MFRS 136, which are the ‘deferred tax and goodwill problem’, non-controlling interests, equity accounting, and the interaction between MFRS 136 and other MFRS.

Our ‘Insights into MFRS 8’ series is designed to illustrate how MFRS 8 should be applied and it provides guidance and insight in some problematic areas. We also include several examples illustrating the Standard’s requirements. This article sets out example disclosures of segment information.

Understanding how an entity is performing from management’s point of view during an interim reporting period can be just as important as the annual disclosures that are required when following MFRS 8 ‘Operating Segments’ – which sets out the minimum disclosure requirements for annual reporting periods.

This article sets out further application issues and information regarding other standards involving operating segments.

This article sets out the requirements for entity-wide disclosures.

This article sets out the segment information that needs to be disclosed in the consolidated financial statements of the reporting entity.

This article sets out the requirements of identifying reportable segments, which is closely linked to aggregating operating segments.

This article sets out the requirements when aggregating operating segments, which is closely linked to reportable segments.

This article focuses on part step 6; reversing impairment losses

This article focuses on part step 6; recognition of impairment losses

This article discusses when there are exceptions to the rule of comparing recoverable amount with carrying amount, which is step 5 in the impairment review process.

This article is the final in a three-part series on Step 4 of the impairment review on estimating the recoverable amount and discusses how to estimate an appropriate discount rate in value in use (VIU) calculations.

MFRS 8 ‘Operating Segments’ aligns external reporting through the identification and reporting of operating segments with what is reported internally by management.

This article is the second in a three-part series on Step 4 of the impairment review on estimating the recoverable amount and discusses estimating future cash inflows and outflows in value in use (VIU) calculations.

This article, covers the definitions of recoverable amount and fair value less costs of disposal (FVLCOD) and provides an overview of value in use (VIU).

This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.

This article is the second of a three-part series on cashgenerating units (CGUs). In this article we discuss how to allocate assets to CGUs, which follows an article on how to identify CGUs and then finally we will discuss how to allocate goodwill to CGUs.

In this article we discuss how to identify cash-generating units (CGUs), and in our following articles how to allocate assets to them and also then to allocate goodwill to them.

This article explains if and when a detailed impairment test as set out in MFRS 136 is required. The guidance prescribes different requirements for goodwill and indefinite life intangible assets (including those not ready for use) when compared to all other assets. As such, this article will cover Step3 in the impairment review which is to determine if and when to test for impairment is needed.

This article, Scope and structure of MFRS 136, looks at the scope of the impairment review (i.e. the types of assets that are included) and how it is structured (i.e. the level at which assets are reviewed).

This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.