Understand the main components of general purpose financial statements. The article also explains further what are these components and their purposes.
The article explains the objectives and users of general purpose financial statements. This helps to determine what information are relevant to the users.
The article provide an understanding on determining the appropriate mfrs accounting standard to account for transactions or events.
In this article, we will understand how public sector entities present and report budget information in the financial statements.
The article explains the financial reporting frameworks in Malaysia. It helps to explain which accounting framework should an entity apply.
In this article, we provide the introduction to accounting, the types of accounting method and why there is a need for accounting framework.
Understand how the amendments may change the way an entity determines the cost of fulfilling its obligation in onerous contract assessment.
The article discusses on the upcoming amendments to IAS 1 relating to disclosure of accounting policies including how it affects reporting entities.
MFRS 9 Financial Instruments introduces significant changes to the way entities measure the impairment loss (credit loss) for financial instruments. Under the previous MFRS 139 Financial Instruments: Recognition and Measurement, the impairment loss is measured based on the ‘incurred loss model’. Under this model, financial instruments such as loans, debt securities, and trade receivables are […]
Understand the upcoming amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to be issued by IASB soon.