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As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.

The novel coronavirus (COVID-19) pandemic is spreading around the globe rapidly. The virus has taken its toll on not just human life, but businesses and financial markets too, the extent of which is currently indeterminate. Entities need to carefully consider the accounting implications of this situation.

As Coronavirus is becoming more widespread, it is important that businesses consider the accounting implications as a result of the impact it is having on their business.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. This is the illustrative of previous month's MFRS news on presentation and disclosure of MFRS 16.

MFRS 16 requires lessees and lessors to provide information about leasing activities within their financial statements.

MFRS 137 defines an onerous contract as one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received from it.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

This publication discusses how to treat a variable lease payment in the financial statements of an interim period.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

MFRS News is your monthly update on all things relating to Malaysian Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

The MASB has issued ‘Definition of Material’ making amendments to MFRS 101 ‘Presentation of Financial Statements’ and MFRS 108 ‘Accounting Policies, Changes in Accounting Estimates and Errors’.

Our MFRS News series provides insights from our global MFRS team on applying MFRS in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack guidance. This edition provides guidance on client money – arrangements in which a reporting entity holds funds on behalf of clients.