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MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments. In this issue we will look at the ‘Annual Improvements to MFRS Standards 2015–2017 Cycle’ published by the MASB.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments. 2018 sees some of the biggest changes in recent standard setting came into effect. Both MFRS 9 ‘Financial Instruments’ and MFRS 15 ‘Revenue from Contracts with Customers’ are mandatory for accounting periods beginning on or 1 January 2018. While most companies will be well aware of the changes and will have already taken steps to start implementing them, we give you a brief overview of the most significant changes.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments. 2018 sees some of the biggest changes in recent standard setting came into effect. Both MFRS 9 ‘Financial Instruments’ and MFRS 15 ‘Revenue from Contracts with Customers’ are mandatory for accounting periods beginning on or 1 January 2018. While most companies will be well aware of the changes and will have already taken steps to start implementing them, we give you a brief overview of the most significant changes.

This edition of MFRS Hot Topics, the term ‘client money’ is used to describe a variety of arrangements in which the reporting entity holds funds on behalf of clients.

This edition of MFRS Hot Topics provides guidance on howIf an entity constructs a new building on the site of a former building, is the carrying value of the old building part of the cost of the new building?

A single, global converged, principal-based revenue recognition model – MFRS 15 Revenue from Contracts with Customers is effective from 1 January 2018 and it replaces most revenue recognition standards, e.g. MFRS 118 Revenue, MFRS 111 Construction Contracts and etc. Companies should not underestimate the level of judgment and attention to the documentation supporting those judgments.

This edition of MFRS Hot Topics provides guidance on how should the costs of an initial public offering (IPO) that involves both issuing new shares and a stock market listing be accounted for.

This edition of MFRS Hot Topics provides guidance on the issues encountered when an entity determines that it is not appropriate to prepare its financial statements on a going concern basis.

This issue considers the reverse acquisition by a listed company.

This issue considers how a purchaser accounts for discounts and rebates when buying inventory.

This edition considers whether the purchase of an investment property is accounted for as a business combination or as an asset purchase.

This edition provides a framework for accounting for loans made by an entity to a related party that are at below-market levels of interest.

This publication provides guidance on the application of MFRS 139’s impairment rules to investments in equity instruments that are classified as available-for-sale (AFS equity investments).

This publication considers the appropriate accounting for contracts that require an entity to make payments based on future entity revenues or product sales.

This publication provides guidance on when an entity designates a cash flow hedge of a highly probable forecast transaction, what are the accounting consequences.

This publication provides guidance on when an entity designates a cash flow hedge of a highly probable forecast transaction, what are the accounting consequences.