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This article deals with Step 3 of the five-step model, which covers determining the transaction price.
Understand the mandatory sustainability assurance requirements, implementation timeline and key implications for businesses including steps to strengthen their reporting processes, data quality and internal controls.
Both of the e-Invoice Guidelines (e-Invoice Guideline Version 4.8 and e-Invoice Specific Guideline Version 4.9) and the e-Invoice General Frequently Asked Questions (FAQs) were updated by the Inland Revenue Board of Malaysia (IRBM) on 30 August 2026, 4 September 2026 and 7 September 2026. Let's understand the salient changes to the guidelines.
This issue considers how a purchaser accounts for discounts and rebates when buying inventory.
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.
This edition considers whether the purchase of an investment property is accounted for as a business combination or as an asset purchase.
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.
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.
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).
This publication considers the appropriate accounting for contracts that require an entity to make payments based on future entity revenues or product sales.
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.
This publication provides guidance on when an entity designates a cash flow hedge of a highly probable forecast transaction, what are the accounting consequences.
This publication provides guidance on when an entity designates a cash flow hedge of a highly probable forecast transaction, what are the accounting consequences.
Recap of the New Tax Reliefs / Increases in Tax Relief for Individuals for the Year of Assessment 2016.
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.
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).
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.
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.
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.