In providing guidance to members on good financial reporting, the Financial Statements Review Committee (FSRC or the Committee) wishes to highlight common deficiencies arising from the review of financial statements of public listed entities for the review period from July 2019 to June 2020.
The starting point for business valuation is by analysing an entity’s financial statements, but don’t forget to dig deeper, study qualitative factors and comparative information to piece together a complete picture.
How will MFRS 16 Leases impact the balance sheet and financial statements?
How should companies go about applying MFRS 15 Revenue from contracts with customers?
What do companies need to know about MFRS 9 Financial Instruments?
Over the next few years, the landscape of financial reporting will be changing indelibly as new and revised standards are rolled out to paint a more accurate portrait of business entities and activities that are becoming increasingly complex, especially in the digital economy.
In this article, we analyse the accounting treatment for investment property under Malaysian Public Sector Accounting Standard (MPSAS) 16, Malaysian Financial Reporting Standard (MFRS) 140 and Section 16 of Malaysian Private Entities Reporting Standard (MPERS).