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This article discusses accounting after the acquisition date.

MFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which can be challenging in practice. This article discusses how goodwill, or a gain from a bargain purchase, is initially recognised and measured under MFRS 3, which represents the final step of applying the acquisition method.

This publication series sets out how MFRS 18 introduces consequential amendments to other Malaysian Financial Reporting Standards and what this means for financial reporting.

This publication series sets out a high-level overview of MFRS 18’s new requirements, along with practical insights into the application challenges. In this series we will be looking at new and enhanced guidance on aggregation and disaggregation of information in the financial statements.

Under the new requirements of MFRS 18, items of income and expense are not classified based on their own nature, but rather they are classified based on the nature of the asset, liability or transaction from which they are derived.

Under the new requirements of MFRS 18, items of income and expense are not classified based on their own nature, but rather they are classified based on the nature of the asset, liability or transaction from which they are derived.

Entities should begin preparing for MFRS 18 ‘Presentation and Disclosure in Financial Statements’ sooner rather than later. Changes from MFRS 101 ‘Presentation of Financial Statements’ could have a significant impact on the financial statements.

The Malaysian Accounting Standards Board (MASB) has released amendments to MFRS 9 (equivalent to IFRS 9) ‘Financial Instruments’ and MFRS 7 (equivalent to IFRS 7) ‘Financial Instruments: Disclosures’, following a post-implementation review (PIR) of MFRS 9 completed by International Accounting Standard Board (IASB). The amendments also include consequential changes to MFRS 19 (equivalent to IFRS 19) ‘Subsidiaries without Public Accountability: Disclosures’ to reflect the amendments made to MFRS 7.

This article explains and provides examples of the accounting treatment for modifications and cancellations of share-based payment arrangements with employees.

On 14 June 2024 the Malaysian Accounting Standards Board (MASB) published a new standard; The new standard, MFRS 18 ‘Presentation and Disclosure in Financial Statements’ (the Standard) replaces MFRS 101 ‘Presentation of Financial Statements’ and will impact every reporting entity that currently uses International Financial Reporting Standards (MFRS).

This article examines the scope of the Standard and considers situations where a contract issued by a non-insurance entity may fall within that scope.

This article focuses on share-based payments directly between the reporting entity and a counterparty.

This article provides an overview including the objective and scope of MFRS 2.

This article covers determining what is part of a business combination transaction.

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 relevant features that could impact your business.

This article introduces both of the new Standards and explains the key things you need to know about IFRS Sustainability Disclosure Standards. We also provide a description of the four pillars of TCFD and give some practical next steps for preparing to report.