Identifying cash-generating units
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
If and when to undertake an impairment review
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
Scope and structure of MFRS 136
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
MFRS 136 - Overview of the Standard
This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.
Insights into MFRS 13 - Fair value measurement
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
MASB extends COVID-19 rent related concessions
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
Identifying the acquisition date in MFRS 3 'Business Combinations'
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
Identifying the acquirer in MFRS 3 ‘Business Combinations’
Business combinations are infrequent transactions that are unique for each occurrence. MFRS 3 ‘Business Combinations’ contains the requirements and despite
Identifying a business combination within the scope of MFRS 3
Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. MFRS 3 ‘Business Combinations’ contains the
COVID-19: Hedge accounting insights
There are several accounting considerations the COVID-19 pandemic has triggered in relation to MFRS 9. In our view one of the most significant is in relation
Insights into MFRS 3 - The acquisition method at a glance
‘Insights into MFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most
COVID 19: Debt modifications
The COVID-19 global pandemic has resulted in economic consequences that many reporting entities may not have had to previously consider. One of those
MFRS 129 ‘Financial Reporting in Hyperinflationary Economies’
MFRS 129 ‘Financial Reporting in Hyperinflationary Economies’ requires the financial statements of any entity whose functional currency is the currency of a
Insights into MFRS 16 - Lease incentives
When accounting for lease incentives in accordance with MFRS 16 ‘Leases’ from a lessee perspective, questions may arise in how to identify a lease incentive
Insights into MFRS 16 - Lease incentives
When accounting for lease incentives in accordance with MFRS 16 ‘Leases’ from a lessee perspective, questions may arise in how to identify a lease incentive
MASB issues Interest Rate Benchmark Reform Phase 2
The Malaysian Accounting Standards Board (MASB) has published Interest Rate Benchmark Reform Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS
Amendments to MFRS 17 and MFRS 4
The Malaysian Accounting Standards Board (MASB) has issued Amendments to MFRS 17 'Insurance Contracts' (the Amendments). The MASB also issued an amendment to
Deferral of effective date of amendments to MFRS 101
The Malaysian Accounting Standards Board (MASB) has issued an amendment to defer the effective date of the ‘Classification of Liabilities as Current or
COVID 19: Going concern considerations
The impact of COVID-19 is expected to have a significant impact on the going concern assumption for a large number of entities. Some entities which were
Insights into IC Interpretation 23
Effective for financial years beginning on or after 1 January 2019, IC Interpretation 23 ‘Uncertainty Over Income Tax Treatments’ (‘the Interpretation’)
MFRS - Alternative performance measures
In this article 'Considerations when preparing financial statements and using alternative performance measures' we set out various ways to enhance
Events after the reporting period
In accordance with MFRS 110 ‘Events after the Reporting Period’, entities are required to distinguish between subsequent events that are adjusting (ie those
Five accounting considerations relating to revenue recognition
This article highlights key aspects of MFRS 15 ’Revenue from Contracts with Customers’, that are expected to be particularly relevant during the COVID-19
COVID-19: Government grants
While many forms of government assistance should be accounted for by applying MFRS 120 ‘Accounting for Government Grants and Disclosure of Government
COVID 19: Accounting for lease modifications
MFRS 16 contains specific requirements on accounting for lease modifications. Rent concessions that change the overall consideration for the lease are in the
Impairment of intangible assets and goodwill
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial
Reporting the impact of COVID-19 on your business
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial
COVID-19: Financial reporting and disclosures
The novel coronavirus (COVID-19) pandemic is spreading around the globe rapidly. The virus has taken its toll on not just human life, but businesses
Accounting implications of the Coronavirus (COVID-19)
As Coronavirus is becoming more widespread, it is important that businesses consider the accounting implications as a result of the impact it is having on
MFRS IASB Issues Classification of Liabilities as Current or Non-Current
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
Desmond Tan

Kuala Lumpur

+603 2692 4022

Kho Kim Eng

Kuala Lumpur

+603 2692 4022

Lian Tian Kwee

Kuala Lumpur

+603 2692 4022

Lui Lee Ping

Kuala Lumpur

+603 2692 4022

Silvia Tan

Kuala Lumpur

+603 2692 4022