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This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.

This Budget analysis provides details on various tax measures that were announced in the 2022 Budget speech.

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.

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.

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.

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).

This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.

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.

Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (PEMULIH)

Due to the further extension of Movement Control Order (“MCO”) announced by the Government on 25 March 2020, Bursa Malaysia had on 26 March 2020 announced additional relief measures to alleviate the impact of Covid-19 on capital market players.

In order to facilitate the affected companies to prepare and audit the financial statements and reports announcement and comply with the requirements of the CA 2016 due to the implementation of MCO, Companies Commission of Malaysia (“SSM”) had on 1 June 2021 issued Practice Directive No. 8/2021 to clarify the special procedures for companies to apply for an extension of time to hold an AGM or to submit a financial statement and reports.

Program Strategik Memperkasa Rakyat dan Ekonomi Tambahan (PEMERKASA+)

The Malaysian Accounting Standards Board (MASB) has issued ‘Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to MFRS 16)’, an extension to the practical expedient period in the amendments to MFRS 16 ‘Leases’ made last year. This extension is for one year, so the application period now extends until 30 June 2022.

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. This article discusses how to identify the date of acquisition or the date the business combination is affected.

Business combinations are infrequent transactions that are unique for each occurrence. MFRS 3 ‘Business Combinations’ contains the requirements and despite being fairly stable in the ten years since its been released, still provides challenges when accounting for these transactions in practice.

Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. MFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which are challenging in practice.