INTRODUCTION

The Financial Reporting Standards in Malaysia has now been revised and upgraded in line with its convergence with the International Financial Reporting Standards. This proposal outlines the proposed Development and Updates of the Malaysian Financial Reporting Standards developed by 5R. It aims to provide an exposure and updates on the history, development and recent changes in the Malaysian Accounting and Financial Reporting landscape.  

OBJECTIVES

At the end of the program, the participants will be able to:

        Enhance their awareness and understand of the Malaysian Financial Reporting Standards

        Apply their awareness towards better understanding and analysis of Financial Statements.

        Analyse and appreciate the contemporary issues.

CONTENTS

1.     History and Development of Financial Reporting Standards in Malaysia

§  Before the establishment of Financial Reporting Act (“FRA”)

§  After FRA and  a ‘world class’ standards

 

2.     Outline of the Financial Reporting Standards and regulations in Malaysia

3.     Definition of IASs, IFRSs, MFRSs FRSs, SIC, IFRIC and FRSIC Interpretations;

4.     Malaysian Dual Reporting Structure

§  Entities other than Private Entities

§  Private Entities

5.     Main Components and Principal of Financial Reporting

6.     Statement of Financial Position

§  Assets

§  Liabilities

§  Equity

7.     Statement of Profit and Loss and other Comprehensive Income

§  Profit and Loss

§  Comprehensive Income

8.     Statement of Changes in Equity

9.     Statement of Cash Flow

 

ADMINISTRATIVE DETAILS

Training duration         : 2 days

Maximum participants: 25 persons per class