A Practical Guide to Malaysian Financial Reporting Standards (MFRS Framework) 5th Edition

This publication explains and illustrates all the Malaysian Financial Reporting Standards (MFRSs) and Issues Committee Interpretations (IC Int) issued by the Malaysian Accounting Standards Board (MASB) and effective as at 1 January 2017. It also covers MFRS 9 Financial Instruments and MFRS 15 Revenue from Contracts with Customers which will be effective on 1 January 2018, and MFRS 16 Leases which will be effective on 1 January 2019. The major provisions of each standard is highlighted and illustrated, with a professional emphasis. Questions and answers dealing with the more complex accounting issues are included to enhance understanding of the requirements of the MFRSs.

This 5th Edition continues to build on the earlier editions’ reputation as a complete, quick and reliable guide to the MFRS Framework. This publication will be invaluable to those who require practical working knowledge of the MFRSs. Academics and students will also gain a sound understanding of the relevant standards and appreciate the practicalities involved in their application.   

Key Features & Benefits

• Best Practice: Provides guidance on the preparation and presentation of financial statements that are in compliance with the MFRSs
• Efficient Reporting: Enables readers to develop and improve proficiency in new and complex areas such as financial instruments, revenue and leases
• Q&A: Deals with the more complex accounting issues at the end of the chapters to enhance understanding on the accounting requirements of the MFRSs