MASB issues amendments to Share-based Payment Standards

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MASB issues amendments to Share-based Payment Standards The Malaysian Accounting Standards Board (MASB) has today issued amendments to MFRS 2 Share-based Payment with regards to classification and measurement of share-based payment transactions (the Amendments). The Amendments is word-for-word the Amendments to IFRS 2 issued by the International Accounting Standards Board (IASB). The Amendments provides specific…

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MASB issues Clarifications to the new Revenue Standard

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MASB issues Clarifications to the new Revenue Standard Date: 25 June 2016. The Malaysian Accounting Standards Board (MASB) has today issued Clarifications to MFRS 15 Revenue from Contracts with Customers (the Amendments). The Amendments is word-for-word Clarifications to IFRS 15 as issued by the International Accounting Standards Board (IASB). The Amendments is effective for annual…

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Comparison of PERSs, MPERS and MFRSs

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Comparison of PERSs, MPERS and MFRSs in Malaysia In February 2014, the MASB issued Malaysian Private Entities Reporting Standard (MPERS) and this sets a new milestone for financial reporting of private entities in Malaysia. MPERS is based substantially on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the…

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MASB issues limited amendments to two Standards

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MASB issues limited amendments to two Standards On 16 April 2016, the Malaysian Accounting Standards Board (MASB) has issued the following pronouncements: (1) Malaysian Financial Reporting Standards (MFRSs) (i) Disclosure Initiative (Amendments to MFRS 107) (ii) Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to MFRS 112) (2) Financial Reporting Standards (FRSs) (i) Disclosure…

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IESBA Invites Comments on Limited Re-Exposure of Proposed Changes

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IESBA Invites Comments on Limited Re-Exposure of Proposed Changes to the Code Addressing the Long Association of Personnel With an Audit Client The International Ethics Standards Board for Accountants (“IESBA”) has, on 4 February 2016, released an Exposure Draft (“ED’) titled “Limited Re-exposure of Proposed Changes to the Code Addressing the Long Association of Personnel…

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