MFRS MFRS 136 - Value in use: estimating future cash inflows and outflows
This article is the second in a three-part series on Step 4 of the impairment review on estimating the recoverable amount and discusses estimating future cash
MFRS MFRS 136 - Estimating recoverable amount
This article, covers the definitions of recoverable amount and fair value less costs of disposal (FVLCOD) and provides an overview of value in use (VIU).
MFRS MFRS 8 - Principles in brief
This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.
MFRS MFRS 136 - Allocating assets to cash-generating units
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
MFRS MFRS 136 - 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
MFRS MFRS 136 - 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
MFRS 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 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.
MFRS 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
MFRS 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
MFRS 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
MFRS 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
MFRS 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
MFRS 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
MFRS 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
MFRS 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 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
MFRS 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
MFRS 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
MFRS 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
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
MFRS 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
MFRS 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
MFRS 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 MFRS - Alternative performance measures
In this article 'Considerations when preparing financial statements and using alternative performance measures' we set out various ways to enhance
MFRS 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
MFRS 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
MFRS 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
MFRS 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
MFRS 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
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Audit Practice Leader Hooi Kok Mun

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Senior Partner - Audit & assurance, Head of China Business Practice Desmond Tan

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Partner - Audit & assurance Kho Kim Eng

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Partner - Audit & Assurance Lian Tian Kwee

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