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Tax Alert 23 July 2019

The Service Tax (Amendment) Act 2019 has been gazetted recently on 9 July 2019. The main highlight of the amendment act is the introduction of Digital Service Tax which is expected to take effect from 1 January 2020.

MFRS Hub

Insights into MFRS 16: Presentation and disclosure

International Business Report

What a trade war means for Asia Pacific businesses

Women in Business

Women in business 2019

Our 2019 Women in business report: building a blueprint for action shows that progress is being made towards gender parity at the senior management level. The last 12 months have seen increases in both the proportion of senior roles held by women and the proportion of businesses with at least one woman in senior management.

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MFRS Insights into MFRS 16: Presentation and disclosure

International Business Report What a trade war means for Asia Pacific businesses

What a trade war means for Asia Pacific businesses

Tax Tax Alert 23 July 2019

Tax Tax Alert 22 July 2019

Following the 2019 Budget announcement, the Income Tax (Deduction for Employment of Senior Citizen, Ex-Convict, Parolee, Supervised Person and Ex-Drug Dependant) Rules 2019 has been gazetted to provide for further deduction to employer on remuneration paid to employee who is a senior citizen, ex-convict, parolee, supervised person and ex-drug dependant.

Tax Tax Alert 17 July 2019

The Royal Malaysian Customs Department (RMCD) has issued guidance on reporting for sales tax exemption under Item 57 Schedule A, Sales Tax (Person Exempted from Payment of Tax) Order 2018.

MFRS MASB looks to clarify MFRS 137’s onerous contracts requirements

Tax Tax Alert 10 July 2019

Further to the Income Tax (Restriction on Deductibility of Interest) Rules 2019 covered in our Tax Alert dated 3 July 2019 to restrict the deduction of interest expense in connection with or on any financial assistance in a controlled transaction, also known as “ESR”, the Inland Revenue Board of Malaysia (“IRBM”) has recently issued Guidelines on Restriction on Deductibility of Interest to provide further guidance and clarification on the application of the abovementioned Rules and Section 140C of the Act.

Tax Tax Alert July 2019

Following the 2018 Budget announcement and pursuant to Section 140C of the Income Tax Act 1967 [“the Act”], the Income Tax (Restriction on Deductibility of Interest) Rules 2019 has recently been gazetted to restrict the deduction of interest expense in connection with or on any financial assistance in a controlled transaction, also known as “ESR”.

Leadership 2030 The future of leadership: anticipating 2030

Global business is facing a wave of disruptive influences that look set to spark the Fourth Industrial Revolution. We explore how the way professionals work is evolving, the leadership skills that will be needed within the dynamic mid-market to thrive, and how organisations can stay competitive in the war for talent and customers in 2030.

MFRS Insights into MFRS 16: Lease payments

Tax GST Updates

GST Updates

MFRS Insights into MFRS 16: May 2019

Tax Updates on GST and Sales Tax Exemption

Updates on GST and Sales Tax Exemption

Tax Updates on Sales Tax and Service Tax

Updates on Sales Tax and Service Tax

MFRS MFRS 16: Sale and leaseback accounting

Tax Inland Revenue Board’s Media Release on SVDP

The Inland Revenue Board of Malaysia (“IRB”) has recently issued media releases.

Tax Have you filed your personal income tax return ?

Recap of the changes affecting individual tax for the Year of Assessment 2018.

International Business Report (IBR) Women in business 2019

MFRS MFRS 16: Transition choices

MFRS MFRS 16: Leases

Tax Tax Alert January 2019A

The Finance Act 2018 and various Orders were gazetted recently. Selected changes are highlighted below for your attention.

Tax Tax Alert January 2019

The long-awaited Sales Tax and Service Tax (“SST”) frameworks have finally been released by the Royal Malaysian Customs Department (“RMCD”) on 19 July 2018. The effective date of the SST implementation will be on 1 September 2018.

MFRS MASB amends its definition of ‘material’

The MASB has issued ‘Definition of Material’ making amendments to MFRS 101 ‘Presentation of Financial Statements’ and MFRS 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’.

International Business Report (IBR) APAC businesses rally behind automation

Given the slowing rate of economic growth, businesses across Asia Pacific (APAC) region have an appetite for automation. In this article we explore where that support is strongest, and why. We find that amid the rich opportunities, risks are present in the automation revolution. Businesses and policymakers should confront these challenges now, to avoid hampering future growth prospects.

International Business Report (IBR) The road to prosperity? Infrastructure improvements driving ASEAN business outlook

South East Asia is a bright spot in the global economy. The outlook for the region is sustained, healthy growth of more than 5% per year between now and 2022.(i) Against this backdrop, business sentiment has hit a new high. We explore what is driving this positivity and find that infrastructure emerges as a source of real opportunity for ASEAN firms in the coming years. At the same time, however, concerns over climate change loom large. Greater cooperation will be key to overcoming these environmental risks.

International Business Report (IBR) Future of APAC 2018: Identifying growth in disruption

Asia Pacific (APAC) is a region in flux. In 2018, businesses must contend with numerous challenges, not limited to environmental risks and an ageing population. But with disruption comes great opportunity.

Tax Malaysia Budget 2019

This Budget analysis provides details on various tax measures that were announced in the 2019 Budget speech.

MFRS Accounting for client money 2018

Our MFRS News series provides insights from our global MFRS team on applying MFRS in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack guidance. This edition provides guidance on client money – arrangements in which a reporting entity holds funds on behalf of clients.

MFRS MFRS 119 ‘Employee Benefits’

Tax International indirect tax guide 2018

Indirect taxation is still evolving, and an arguable simple tax is growing in its complexity and application as a traditional goods and services model is replaced with digital content; virtual consumption and seamless international trade flows. But how can you stay ahead?.

MFRS Long-term Interests in Associates and Joint Ventures (Amendments to MFRS 128)

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 long-term interest in associates and joint ventures (amendments to MFRS 128).

Tax Tax Alert July (3) 2018

Tax Tax Alert July (4) 2018

Malaysia’s Participation in Forum of Harmful Tax Practices (FHTP) under the Organization for Economic Cooperation and Development (OECD) Inclusive Framework (IF) – Base Erosion and Profit Shifting (BEPS) Action Plan 5

MFRS Prepayment Features with Negative Compensation (Amendments to MFRS 9)

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 Prepayment Features with Negative Compensation (Amendments to MFRS 9).

MFRS Annual Improvements to MFRS Standards 2015–2017 Cycle

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.

Tax Tax Alert May 2018

GST will be zero-rated with effect from 1 June 2018

MFRS REMINDER: MFRS 9 and MFRS 15

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 REMINDER: MFRS 9 and MFRS 15

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.

Tax Tax Alert March 2nd Issue 2018

Issuance of Practice Note No. 1/2018 by the Inland Revenue Board of Malaysia

MFRS Accounting for client money

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.

International Business Report (IBR) Women in business 2018

Businesses globally have taken one step forward but one step back on women in leadership. Significantly more businesses (75% in 2018 v 66% in 2017) now have at least one woman on the senior management team, but the proportion of the team that is female has slipped from 25% to 24%, according to Grant Thornton International Ltd.’s annual Women in Business report.

Tax Tax Alert March 2018

Recap of Relief Reviewed / New Tax Reliefs for Individuals for the Year of Assessment 2017

MFRS Cost of a new building constructed on the site of a previous building

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?

MFRS Prepare for revenue recognition standard with MFRS 15 Contract Review Tool

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.

MFRS Costs of an initial public offering

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.

MFRS Preparing financial statements when the going concern basis is not appropriate

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.

MFRS Reverse acquisition by a listed company

This issue considers the reverse acquisition by a listed company.

Tax Malaysia Budget 2018

This Budget analysis provides details on various tax measures that were announced in the 2018 Budget speech.

MFRS Inventory discounts and rebates

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

Articles and publications Grant Thornton News

Heartiest congratulations to our leaders on their leadership roles in their respective prestigious institutes. We wish our leaders every success and may they bring their institutes to greater success.

MFRS Acquisition of investment properties – asset purchase or business combination?

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

MFRS Related party loans at below-market interest rates

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.

Tax Tax Alert 2017

Further to the Finance Act 2017 being gazetted on 16 January 2017, The Inland Revenue Board of Malaysia has issued two Practice Notes to clarify issues pertaining to the amended Section 15A of the Income Tax Act 1967 specifically relating to issues on effective date and on existing Double Taxation Avoidance Agreement.

MFRS Impairment of available-for-sale equity investments

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).

MFRS Contracts requiring payments linked to future sales

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

Tax Tax Alert 2017

The Inland Revenue Board of Malaysia has issued a Media Release to provide clarification regarding the imposition of penalty at a rate of 100% which will be implemented with effect from 1 January 2018. Under the Income Tax Act, 1967, the Director General of Inland Revenue is given the power to impose a penalty for the offence of default in declaring income or in declaring correct income which is subject to tax.

MFRS Convertible debt and the effect of the changes to the conversion ratio on equity or liability classification

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

MFRS Cash flow hedging and changes to a forecast transaction

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

Tax Alert March 2017 Tax Alert March 2017

Recap of the New Tax Reliefs / Increases in Tax Relief for Individuals for the Year of Assessment 2016.

International Business Report (IBR) Women in business: New perspectives on risk and reward

The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. Somewhere there is a disconnect.

MFRS Contracts for purchase or sale of non-financial items denominated in a foreign currency

In this Hot Topic, it is assumed throughout that the host sale or purchase contract is outside the scope of MFRS 139. Contracts that can be settled net (rather than by physical delivery and gross settlement) are within the scope of MFRS 139 unless they are for the entity’s expected sale, purchase or usage requirements (MFRS 139.5).

MFRS Classification of derivatives as current or non-current

This publication discusses should assets and liabilities arising from derivative financial instruments (derivatives) be classified in the statement of financial position as current or non-current.

Tax Tax Alert 2017

With the Finance Act, 2017 being gazetted on 16 January 2017, there are some of the salient amendments in the Income Tax Act, 1967 (“the Act”) that would likely impact many businesses.

MFRS Financial instruments with payments based on profit of the issuer

A contractual obligation to pay interest or dividends linked to profits of the issuer should be classified as a liability (rather than as equity) by the issuer.

MFRS Parent entity financial guarantee contracts

Business combinations involving entities under common control are outside the scope of MFRS 3 Business Combinations (MFRS 3.2(c)), and there is no other specific MFRS guidance. Accordingly, management should use its judgement to develop an accounting policy that is relevant and reliable, in accordance with Paragraphs 10 to 12 of MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors.

MFRS Non-controlling interests and other comprehensive income

Tax Malaysia Budget 2017

This Budget analysis provides details on various tax measures that were announced in the 2017 Budget speech.

MFRS Acquisition date fair value and subsequent selling price

GrowthiQ Steering your company to long-term success

start up business

MFRS Equity accounting, fair value adjustments and impairment

MFRS Common control business combinations

Tax Alert - issue 07 Tax Alert

This newsletter provides information on the latest tax updates.

MFRS Revenue recognition and foreign currency translation

If an entity earns revenues denominated in foreign currency: • how are these revenues translated into the entity’s functional currency? • are related deferred revenue (advance payments) and accrued revenue amounts treated as monetary or non-monetary items for the purposes of MFRS 121 The Effects of Changes in Foreign Exchange Rates

MFRS Major reforms to global lease accounting (Part 4)

Tax Alert - issue 06 Tax Alert

This newsletter provides information on the latest tax updates.

International indirect tax guide 2016 International indirect tax guide 2016

Indirect taxation is becoming ever more complicated, varied between jurisdictions and prone to government tinkering. With some of the biggest tax reforms occurring within indirect tax, getting on top of the complexity and change is vital.

MFRS Major reforms to global lease accounting (Part 3)

Tax Risk Management Transparent and responsible risk management

Tax Risk Management

GST Health Check GST Health Check

Grant Thornton can provide guidance and assistance to identify the GST risks and subsequently your business can prepare remedial measures to mitigate the GST risks.

MFRS Major reforms to global lease accounting (Part 2)

The IASB has published IFRS 16 ‘Leases’ completing its long-running project on lease accounting. This special edition of IFRS News series explains the key features of the new Standard and provides practical insights into its application and impact. We have covered the introduction and scope of IFRS 16 in the March 2016 issue. In this issue, the details of the new lessee accounting approach are discussed.

Assurance The future of audit

The world is changing. The financial crisis emphasised the extent to which financial systems are connected globally. This interconnectedness not only brings greater prosperity, but also greater concentrations of systemic risk.

Tax Alert - issue 04 Tax Alert

This newsletter provides information on the latest tax updates. Guidelines on the Offer in Reduction of Penalty for Voluntary Disclosure and Waiver of Tax Increase for Settlement of Tax Arrears

MFRS Major reforms to global lease accounting

International Business Report (IBR) Women in business: turning promise into practice

The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. Somewhere there is a disconnect.

Tax Alert - issue 03 Tax Alert

This newsletter provides information on the latest tax updates.

GrowthiQ How to retain your start-up spirit

start up business

MFRS Construction contracts with costs or revenues in more than one currency

This issue discusses the accounting for financial liabilities with a demand feature (on-demand financial liabilities). This publication considers the accounting implications when the entity no longer expects the counter-party to demand repayment.

Tax Alert - issue 01 Tax Alert

This Budget analysis provides details on various tax measures that were announced in the 2016 Budget speech.

Tax Alert - issue 02 Revised 2016 Budget

This Budget analysis provides details on various tax measures that were announced in the 2016 Budget speech.

GrowthiQ How to plan for the future

future,planning

MFRS Cash flow statements – common pitfalls and application issues Part V - Cash flows relating to business combinations and disposals

This is a series of issues that provide guidance on the practical application issues of MFRS 107 Statement of Cash Flows. Part V will be the last section of the series of Cash flow statements – common pitfalls and application issues.

MFRS Cash flow statements – common pitfalls and application issues (Part IV - Foreign currency exchange differences)

This is a series of issues that provide guidance on the practical application issues of MFRS 107 Statement of Cash Flows. There are a number of presentation issues that have created differences in the practical application of MFRS 107.

GrowthiQ Transform your business with the Internet of Things

internet of things

GrowthiQ Why every company needs a purpose

purpose

MFRS Cash flow statements – common pitfalls and application issues (Part III - Presentation issues)

Tax Malaysia Budget 2016

This Budget analysis provides details on various tax measures that were announced in the 2016 Budget speech.

GrowthiQ How to be cyber-secure

Cyber-attacks are set to grow in their number and nature; those companies that embed security measures into their culture will be most successful at fending them off, says Paul Jacobs

MFRS Cash flow statements – common pitfalls and application issues (Part II - Classification of cash flow by activity)

Applying MFRS 107 Statement of Cash Flows gives rise to a number of interpretive and application issues. Increasingly, regulators and other commentators on financial statements are highlighting errors or inconsistencies in application of the standard.

GrowthiQ The new customer mindset

To succeed in the B2B sharing economy, businesses need to understand what drives customers who are willing to use crowdsourced and automated services LiquidSpace specialises in renting out spare office space in existing businesses by the hour, the month or longer. Users can hire space via the company’s app and be sitting in a business’s boardroom within minutes. They can add their own office space to the inventory too.

MFRS Cash flow statements – common pitfalls and application issues (Part I - Definition of Cash and Cash Equivalents)

GrowthiQ Keeping it in the family

Choosing the right leader for your business is fundamental to its long-term success. So why are so many family firms not planning for succession effectively?

GrowthiQ The Indian opportunity

Aston Manor Cider, one of the world’s largest independent cider producers, is no stranger to the export market. The UK-based company’s specialty beverage is available in more than 20 countries including the USA, Russia and a number of African nations

Tax BEPS: Businesses call for clarity

Three quarters of business leaders would pay more taxes in exchange for greater clarity from authorities on what is acceptable. And while few expect a global agreement any time soon, the majority would like to see their governments take unilateral action to help achieve this aim.

MFRS Unclaimed on-demand financial liabilities

GrowthiQ Oil price drop: windfall or worry?

The slump in oil prices has its winners and losers. Jim Menzies, global leader for the food and beverage sector at Grant Thornton, says the outlook is good for food and beverage companies. While Linda Beal global leader for the oil and gas sector at Grant Thornton, says, oil and gas companies are facing significant challenges.

IBR Call to delay revenue recognition start date

As the International Accounting Standards Board (IASB) meets today (22 July 2015) to discuss the 2017 implementation date for new global revenue recognition rules, Grant Thornton is asking the accounting board to delay implementation, as a global business survey finds that many businesses are not expecting to be ready by 2017.

Corporate governance The tone from the top

In light of growing international interest and scrutiny of corporate practices we set out to explore how three major aspects of governance – the role of culture, board composition and strategic planning – are affecting businesses around the world.

GrowthiQ IFRS: a route to growth

Although some see International Financial Reporting Standards (IFRS) as a regulatory burden, the evidence suggests that global standards actually oil and accelerate the wheels of global economic growth. Andrew Watchman explains.

GrowthiQ Tackling corruption

At the G20 summit in Australia last November, global leaders reaffirmed a commitment they made in 2010 to tackle the negative impact of corruption on economic growth, trade and development. In this roundtable debate, Grant Thornton partners from Brazil, India and South Africa discuss how businesses can behave in an ethical manner and thrive, in spite of corrupt practices.

MFRS Classification of loans with covenants as current or non-current

Loan agreements often include covenants that, if breached by the borrower, permit the lender to demand repayment before the loan’s normal maturity date. Such covenants may, for example, require the borrower to maintain one or more key financial ratios (such as interest cover or a debt to equity ratio) above or below a stated benchmark level.

GrowthiQ Automation: the pros & cons

Rising labour costs and the quest for productivity are driving businesses to automate. Finding new roles for redundant workers will be the next challenge.

GrowthiQ How to give up the CEO’s chair

Giving up the CEO role is one of the toughest challenges an entrepreneur will face, but doing it successfully will help their business to grow. This article draws on experience of Swedish CEOs and advisers to help business leaders make the transition smoothly.

MFRS Loans with early repayment options

This issue provides guidance on accounting for debt instruments that include options allowing the borrower to repay the debt before the end of its full contractual term.

International Business Report (IBR) The future of Europe 2015

The European recovery is gaining momentum according to Grant Thornton's International Business Report (IBR). However, drawing on interviews with more than 1,100 regional executives, the report uncovers a number of threats, from Greek debt negotiations to high unemployment, which continue to undermine European stability and long-term business growth prospects.

GrowthiQ Using crowdfunding to grow

Video case study: UK company Berry White used crowdfunding platform CrowdCube to scale up internationally. Here's how they did it.

MFRS Loan commitments

Discusses about accounting for loan commitments that are outside the scope of MFRS 139.

GrowthiQ Growing beyond borders

Advances in technology and logistics allow businesses to expand across borders more easily, but understanding and overcoming the psychological barriers to expansion abroad is crucial to giving your global growth plans a head-start.

GrowthiQ Global tax reform: it’s time to act

Francesca Lagerberg says the global backlash against corporate tax avoidance means companies that trade across borders need to get their tax affairs in order sooner rather than later

International Business Report (IBR) Eurozone economic recovery strengthens

Almost three months on from the launch of the European Central Bank's quantitative easing programme, new research from the Grant Thornton International Business Report (IBR) reveals a jump in business optimism in the eurozone in the first quarter of 2015, with confidence moving back up towards pre-crisis levels.

MFRS Onerous operating leases

To discusses the application of MFRS 137 Provisions, Contingent Liabilities and Contingent Assets to onerous operating leases for the lessee.

Tax A global guide to business relocation

There are a number of cost and commercial reasons why a group may consider relocating, but it is also important to understand the consequences.

International Business Report (IBR) Global M&A snapshot 2015

Companies are increasingly focused on high-quality strategic transactions, with less time spent on investigating peripheral opportunities, according to our International Business Report (IBR), a survey of 5,400+ business leaders in 35 economies.

GrowthiQ Why you need to consider natural capital

Businesses need to open their eyes to the benefits of measuring and valuing natural capital says global leader for energy & cleantech Nathan Goode.

International Business Report (IBR) Women in business: the path to leadership

Our 2015 women in business report looks at how to facilitate the career paths of women into senior management and offers 12 recommendations to society, government, businesses and women themselves about how to better support female advancement.

Hospitality and tourism Hotels 2020: Welcoming tomorrow's guests

The hotel industry is going through a period of unprecedented, irreversible change and will look very different in 2020 than it does today.

MFRS Lease extensions and renewals

This issue will provide guidance on the accounting treatment of lease extensions and renewals.

GrowthiQ The global sharing economy

Poised to be every bit as disruptive as the internet revolution, is your business ready for the rise of the sharing economy?

International Business Report (IBR) The global economy in 2015

Drawing on 10,000 interviews with company leaders and international forecast data, this report considers the outlook for the global economy and what this means for business growth prospects in 2015.

MFRS Lease prepayments and impairment

This issue will provide guidance on impairment issues of lease prepayments.

GrowthiQ A recovery. But not as we know it.

In the inaugural GrowthiQ article, global CEO, Ed Nusbaum considers the outlook for the global economy, and tells business leaders that opportunities remain despite prevailing economic uncertainty.

International business report (IBR) Global uncertainty weighs on resurgent business confidence

New research from the Grant Thornton International Business Report (IBR) reveals that while business confidence in 2014 climbed to levels not seen since before the financial crisis, a recent spate of uncertainty is weighing on growth prospects for the year ahead.

MFRS Share-based payments of an associate

This issue will provide guidance on how and when should the investor record a change in its ownership interest when an associate (investee) issues new shares under a share-based payment scheme.

IFRS Consolidated financial statements

This illustrative set of financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2013.

IFRS IFRS News - Q1 2015

IFRS News is your quarterly update on all things relating to International 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.

Food & Beverage Expanding horizons

F&B companies are using international expansion to chase profits globally.

International Business Report (IBR) Talent squeeze threatens global growth

Businesses in the world’s three biggest economies, the United States, China and Japan, are increasingly feeling the heat when it comes to recruiting skilled staff. Given that these countries together represent over a third of global output, a deficit of skilled staff could have a significant knock-on effect on economic growth not just in these economies but beyond.

MFRS Share-based contingent consideration

A contract to issue share-based contingent consideration (shares) should be measured at its fair value on the acquisition date for the purpose of determining the consideration transferred in exchange for the acquiree.

IFRS Navigating changes to IFRS for CFOs

This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.

Private Equity Creating growth

Private equity has always focused on creating value and helping promote growth in portfolio companies. Since the industry began, private equity firms have tried many ways to meet this ultimate objective – and with varying success. Now, post the global financial crisis, the question being asked more than ever is: how can private equity deliver its value-added promises?

Mining The resurgence of M&A in mining

Recession, economic uncertainty, and market volatility have forced many miners out of the industry and brought others to the point of insolvency.

IFRS 15 A new global standard on revenue – life sciences

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the life sciences industry.

MFRS Accounting for the contribution of assets or businesses to a joint arrangement by a party to the joint arrangement on formation

This issue specifically provides guidance on accounting that should be applied by the joint arrangement (either a joint operation or joint venture) receiving non-monetary contributions upon its initial formation.

Tax Malaysian Budget 2015

This Budget analysis provides details on various tax measures that were announced in the 2015 Budget speech.

MFRS Additional investments in associates and joint ventures

This issue provides guidance on the accounting of acquisition of additional investments in associates and joint ventures.

International business report (IBR) Sustainability: changing the debate in emerging markets

With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets.

Articles and publications Doing business in Malaysia

This publication serves as a guideline to assist those who are interested in doing business in Malaysia.

MFRS Special Edition on Revenue: September issue

The IASB has published IFRS 15 ‘Revenue from Contracts with Customers’.

IFRS IFRS News special edition on IFRS 9

IFRS 9 fundamentally rewrites the accounting rules for financial instruments, introducing a new approach for financial asset classification and replacing the now discredited incurred loss impairment model with a more forward-looking expected loss model. All in addition to the major new requirements on hedge accounting that we reported on at the end of 2013. This special edition of IFRS News outlines the new Standard’s requirements, and the benefits and challenges that it will bring.

MFRS Special Edition on Revenue: August issue

This special edition of MFRS Hot Topics explains the key features of the new Standard and provides practical insights into its application and impact.

IFRS 15 A new global standard on revenue – Manufacturing industry

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the manufacturing industry.

IFRS 15 A new global standard on revenue – software & cloud services

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the software and cloud services industries.

IFRS 15 A new global standard on revenue – retail industry

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the retail industry.

IFRS 15 A new global standard on revenue – real estate

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the real estate industry.

IFRS A new global standard on revenue – construction

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the construction industry.

MFRS Special Edition on Revenue: July issue

The IASB has published IFRS 15 ‘Revenue from Contracts with Customers’.

MFRS Cost of an investment in a subsidiary in separate financial statements

This issue provides guidance on cost of an investment in a subsidiary in separate financial statements.

International Business Report (IBR) Future of Europe 2014

The third edition in our 'Future of Europe' series looks at three distinct aspects of the regional business, economic and political landscape: recovery, integration and expansion.

MFRS Consolidated financial statements when an entity ceases to be a parent entity

This issue provides guidance on consolidated financial statements when an entity ceases to be a parent entity.

MFRS The effect of events after the reporting period on valuation, impairment and existence of financial assets

This issue provides guidance on the effect of events after the reporting period on valuation, impairment and existence of financial assets.

International Business Report (IBR) Dynamic businesses at forefront of M&A

Dynamic businesses at the forefront of M&A activity highlights an increasing importance for M&A in driving growth. There is a clear acknowledgment from the 12,500 businesses surveyed that acquisitions will be needed to supplement existing operations.

GrowthiQ Welcome to GrowthiQ

GrowthiQ: Insights to help your business grow

International Business Report (IBR) From classroom to boardroom

24%: that is the proportion of women holding the most senior roles in businesses across the globe.

Real Estate and Construction Microclimates of opportunity

Developers, property companies, investors and homeowners suffered disproportionately during the financial crisis. But now, finally, expectations for profitability, jobs and orders are all on the rise.

IFRS IFRS Top 20 tracker

This publication guides management through the top 20 disclosure and accounting issues identified by Grant Thornton as potential challenges for IFRS preparers.

MFRS Methods of amortising intangible assets

This issue provides guidance on selecting an appropriate amortisation method for intangible assets in accordance with MFRS 138 Intangible Assets.

International Business Report (IBR) Modern trends in business leadership

The role of leaders in creating successful businesses and driving growth is crucial. How these leaders run their teams and make decisions can be the difference between success and failure. But do the leadership characteristics displayed by leaders vary from region to region?

MFRS Trade receivables and impairment (Part 2)

This issue provides the continuation of the requirements of MFRS 139 Financial Instruments: Recognition and Measurement on trade receivables and the related impairment model.

International Business Report (IBR) The global economy in 2014

Drawing on data and insight from the Grant Thornton International Business Report (IBR), the Economist Intelligence Unit (EIU) and the International Monetary Fund (IMF), The global economy in 2014 answers these questions and more.

MFRS Trade receivables and impairment (Part 1)

This issue reflects the requirements of MFRS 139 Financial Instruments: Recognition and Measurement on trade receivables and the related impairment model.

IFRS IFRS9 hedge accounting

IAS 39 ‘Financial Instruments: Recognition and Measurement’, the previous Standard that dealt with hedge accounting, was heavily criticised for containing complex rules which either made it impossible for entities to use hedge accounting or, in some cases, simply put them off doing so.

Tax Malaysian Budget 2014

This Budget analysis provides details on various tax measures that were announced in the 2014 Budget speech.

Global economy in 2013 Uncertainty weighing on growth

Presidential elections in some of the world’s largest economies, the sovereign debt crisis and the US fiscal cliff have all contributed to a global sense of economic uncertainty. How are major and developing markets faring in the face of these developments and what does the year ahead have in store?

Mergers and acquisitions The rise of the cross-border transaction 2013

The appetite for cross-border deals has rocketed by 18% during the past 12 months. This is the key finding from our latest research that looks at attitudes to mergers and acquisitions (M&A) among business leaders worldwide.

Global Dynamism Index (GDI) Global Dynamism Index (GDI) 2013

These are the results of the Grant Thornton Global Dynamism Index (GDI) 2013, an annual research project designed by the Economist Intelligence Unit, which ranks the development of the business growth environments of 60 of the world's largest economies over the past 12 months.

GrowthiQ Dealing with corrupt practices

Dealing with corrupt practices in Brazil and India.

GrowthiQ Changing corrupt cultures

Changing corrupt cultures in India and Brazil

IFRS Liability or equity?

Classification of a financial instrument as either liability or as equity has an immediate and significant effect on an entity’s reported results and financial position. Liability classification for instance affects an entity’s gearing ratios and typically results in any payments being treated as interest and charged to earnings. This guide addresses the key application issues to consider and includes interpretational guidance in certain problematic areas.

IFRS Deferred tax – avoiding the pitfalls

Many companies find the accounting for deferred tax causes significant practical difficulties. This guide summarises the approach required by IAS 12 'Income Taxes' and provides examples of the disclosures required by it. It also looks in detail at some of the more complex areas of preparation of a deferred tax computation, for example the calculation of deferred tax balances arising from business combinations.

Women in business 2012 Still not enough

The past 12 months have seen women take the lead in some of the toughest economic and political environments, and they also head governments in countries such as Argentina, Australia, Brazil and Thailand.

Global Dynamism Index (GDI) Global Dynamism Index (GDI) 2012

We believe that dynamic organisations need to apply both reason and instinct to decision making. Deciding which markets your business should operate in is no different.

IFRS Cash flow statements – avoiding the pitfall

Increasing attention on companies’ cash generation and liquidity position has led financial statement users, regulators and other commentators to focus increasingly on the Statement of Cash Flows. However, this additional focus and scrutiny has also highlighted some common errors and inconsistencies in its preparation. This Guide aims to remind management of IAS 7's basic requirements; highlight interpretative and practical application issues; and provide insights to address these issues.

GrowthiQ The impact of corruption

The impact of corruption in Brazil and India