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).
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Introducing MFRS 18
Introducing MFRS 18 – The MASB’s new presentation and disclosure standard
MFRS
Insights into MFRS 17 - Impact on non-insurance entities
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.
MFRS
Classification of share-based payment transactions and vesting conditions
This article focuses on share-based payments directly between the reporting entity and a counterparty.
MFRS
Insights into MFRS 3 - Determining what is part of a business combination transaction
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.
MFRS
Insights into MFRS 3 - Consideration transferred
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.
Sustainability
Overview of IFRS S1 and IFRS S2
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.
Insights into MFRS 136
Presentation and disclosure
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.
MFRS
MFRS 136 Other impairment issues
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.
Insights into MFRS 8
Disclosures for annual financial statements
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.
Insights into MFRS 8
Disclosures for interim financial statements
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.
MFRS
MFRS 8 - Other application issues and Standards involving operating segments
This article sets out further application issues and information regarding other standards involving operating segments.
MFRS
MFRS 8 - Entity-wide disclosures
This article sets out the requirements for entity-wide disclosures.
MFRS
MFRS 8 - Segment information to be disclosed
This article sets out the segment information that needs to be disclosed in the consolidated financial statements of the reporting entity.
MFRS
Insights into MFRS 8 - Reportable segments
This article sets out the requirements of identifying reportable segments, which is closely linked to aggregating operating segments.
MFRS
Insights into MFRS 8 - Aggregation of operating segments
This article sets out the requirements when aggregating operating segments, which is closely linked to reportable segments.
Insights into MFRS 136
Reversing impairment losses
This article focuses on part step 6; reversing impairment losses
Insights into MFRS 136
Recognising impairment losses
This article focuses on part step 6; recognition of impairment losses
Insights into MFRS 136
Comparing recoverable amount with carrying amount
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.
Insights into MFRS 136
Value in use: applying the appropriate discount rate
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
MFRS 8 - Identifying Operating Segments
MFRS 8 ‘Operating Segments’ aligns external reporting through the identification and reporting of operating segments with what is reported internally by management.
MFRS
MFRS 136 - Value in use: estimating future cash inflows and outflows
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.
MFRS
MFRS 136 - Estimating recoverable amount
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).
MFRS
MFRS 8 - Principles in brief
This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.
Insights into MFRS 136
MFRS 136 - Allocating assets to cash-generating units
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.
Insights into MFRS 136
MFRS 136 - Identifying cash-generating units
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.
Insights into MFRS 136
MFRS 136 - If and when to undertake an impairment review
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.
Insights into MFRS 136
Scope and structure of MFRS 136
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).
MFRS
MFRS 136 - Overview of the Standard
This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.
MFRS
Insights into MFRS 13 - Fair value measurement
MFRS 13 ‘Fair Value Measurement’ explains how to measure fair value by providing clear definitions and introducing a single set of requirements for almost all fair value measurements. It clarifies how to measure fair value when a market becomes less active.