This article discusses and summarises the revenue recognition requirements arising from non-exchange transactions, including taxes and transfers.
For this round, we discuss a specific public sector accounting standard – MPSAS 21, which talks about the impairment of non-cash generating assets. This accounting standard is not available for entities in the private sector. This is because private sector entities hold assets to generate economic benefits. They are often associated with its ability to generate […]
In this article, you will gain an overview of the Malaysian Public Sector Accounting Standards (“MPSAS”), including the development of MPSAS.
This article explains why public sector accounting standards is needed. It also includes the nature and characteristics of the public sector entities.
In this article, we will understand how public sector entities present and report budget information in the financial statements.