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.
Learn how the amendments to MFRS 116 Property, Plant and Equipment clarify the treatment relating to proceeds received before intended use.
Find out how classification of financial liabilities will change in the financial statements following the amendments to MFRS 101.
IFRIC Agenda Decision is a document issued by the IFRS Interpretations Committee (“IFRIC”). What is IFRIC? IFRIC is an interpretive committee of the International Accounting Standards Board (“IASB”). The function of the IFRIC is to deliberate, respond, and provide a recommendation on issues submitted to the committee regarding the application of the accounting standards issued […]