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

This publication explains how to identify the acquirer, the entity that obtains control over an acquiree which meets the definition of a business.

This article sets out how an entity should determine if the transaction is a business combination, and whether it is within the scope of MFRS 3.

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 to hedge accounting and highly probable cash flows.

Program Strategik Memperkasa Rakyat Dan Ekonomi (PEMERKASA)

For 17 years, Grant Thornton has been tracking the global progress of women in senior management. In the last 12 months, unprecedented events have had an unforeseen and unparalleled impact on that progress.

This article provides a high-level overview of MFRS 3 and explains the key steps in accounting for business combinations in accordance with this Standard. It also highlights some practical application issues

Annual financial statements will always be a critical communication to investors and other stakeholders. But how effective will they be in explaining to your stakeholders how the global COVID-19 pandemic has affected your organisation?

The Securities Commission Malaysia and Bursa Malaysia Berhad today announced temporary relief measures for listed issuers in addition to those introduced in 2020. These additional measures will allow listed issuers more time to prepare their financial statements and put in place regularisation plans amid the Covid-19 pandemic.

In support of the Government's initiatives to ease the economic pressures faced by the corporate community arising from the Covid pandemic, Companies Commission of Malaysia (“SSM”) had on 7 April 2020 (Revised 27 January 2021) issued Practice Directive No. 6/2020 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

The Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) assistance package that is valued at RM15 billion has been announced by the Government. There will be a total of 22 initiatives implemented under the PERMAI assistance package.

Changes in Tax Treatment for Small or Medium Enterprise

The COVID-19 global pandemic has resulted in economic consequences that many reporting entities may not have had to previously consider. One of those consequences is their ability to repay loans. In response, some lenders have agreed to changing the borrowing terms or providing waivers or modifications to debt covenant arrangements. Any changes to the terms of loan agreements, for example providing any kind of payment holidays on either principal or interest or changing interest rates, should be carefully assessed.

Following the Government's intention to increase the use of e-payments, the IRBM has announced that it will NO longer accept tax payments sent by post or courier with effect from 1 January 2021.

MFRS 129 ‘Financial Reporting in Hyperinflationary Economies’ requires the financial statements of any entity whose functional currency is the currency of a hyperinflationary economy to be restated for changes in the general purchasing power of that currency so that the financial information provided is more meaningful.

This Budget Adviser provides insights to the tax measures that were announced in the Budget 2021 speech on 6 November 2020 as well as updates on the key tax proposals from the Finance Bill 2020 released on 16 November 2020.