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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).

This introductory article summarises the requirements and scope of MFRS 8 and explains the key steps in determining reportable segments.

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 article on how to identify CGUs and then finally we will discuss how to allocate goodwill to CGUs.

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 goodwill to them.

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 and indefinite life intangible assets (including those not ready for use) when compared to all other assets. As such, this article will cover Step3 in the impairment review which is to determine if and when to test for impairment is needed.

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 structured (i.e. the level at which assets are reviewed).

This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.

This Insights into MFRS 13 article not only summarises the Standard, it also provides detailed commentary on various aspects of applying this Standard from the perspective of a preparer working alongside a valuation expert.

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 practical expedient period in the amendments to MFRS 16 ‘Leases’ made last year. This extension is for one year, so the application period now extends until 30 June 2022.

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.

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

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.

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.