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Updates of the 2017 & 2018 MFRSs: Preparing MFRS - Compliant Financial Statements in 2017, 2018 and thereafter

Expert Speaker Tan Liong Tong

MYR1,802.00 (including GST)

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EARLY BIRD SPECIAL: Save 10% when you register by 13 April 2018. Use code APR18 at checkout.

Overview

For the year ended 31 December 2017, reporting entities applying the Malaysian Financial Reporting Standards (MFRS) would need to adopt three (3) amended MFRSs that are effective for annual financial statements commencing on or after 1 January 2017. For the year ending 31 December 2018, there are eight (8) new and amended MFRSs that are effective for annual financial statements commencing on or after on 1 January 2018.

Through issue-based examples highlighting changes from complex real-life practical cases and interactive discussions, reinforce your understanding of the changes arising from the new and revised MFRSs issued by the Malaysian Accounting Standards Council (MASB) and effective for the years 2017, 2018 and thereafter.

This programme is designed specifically for accountants, auditors and finance leaders involved in the preparation/audit of financial statements.

What You Will Learn

At the end of the workshop, you will:

  • Understand the salient features of the IFRS-compliant Malaysian Financial Reporting Standards that are effective on 1 January 2017 and 2018 to ensure continuing compliance with the MFRSs issued by the MASB.
  • Get updated on the latest developments in the IFRS-compliant Malaysian Financial Reporting Standards.
  • Learn to effectively apply the new/revised accounting standards in the preparation of financial statements

Programme Outline

Day 1: What’s New in 2017 & 2018, Bearer Plants and Revenue 

Module 1: What’s New in 2017 and 2018

For annual periods beginning on or after 1 January 2017:

  • Disclosure Initiative, (Amendments to MFRS 107)
  • Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to MFRS 112)
  • Amendments to MFRS 12 Disclosure of Interests in Other Entities

For annual periods beginning on or after 1 January 2018:

  • Classification and Measurement of Share-based Payment Transactions (Amendments to MFRS 2)
  • Annual Improvements to MFRS Standards 2014-2016 Cycle
  • Transfers of Investment Property (Amendments to MFRS 140)
  • Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts (Amendments to MFRS 4)
  • MFRS 9 Financial Instruments
  • MFRS 15 Revenue from Contracts with Customers
  • IC Interpretation 22

For annual periods beginning on or after 1 January 2019:

  • MFRS 16 Leases

Preparing MFRS-Compliant Financial Statements for the year ended 31 December 2017

Module 2: Agriculture: Bearer Plants – Amendments to MFRS 116 Property, Plant and Equipment and MFRS 141 Agriculture (earlier application permitted)

Module 3: MFRS 15 Revenue from Contracts with Customers

Day 2: Financial Instruments and Leases

Module 4: MFRS 9 (2014 version) Financial Instruments

Module 5: MFRS 16 Leases

Expert Speaker

Tan Liong Tong is a Technical Consultant to Mazars Malaysia.  He currently serves as a Project Manager of the Malaysian Accounting Standards Board (MASB) Working Group (WG 63) on Consolidation.  He is a member of the Malaysian Institute of Accountants (MIA), Malaysian Institute of Certified Public Accountants (MICPA), and a fellow member of the Institute of Bankers Malaysia (IBBM).

He was previously an Associate Professor with the Graduate School of Management, University Putra Malaysia. He had also served as chief examiner, an academic advisor, and as a project manager for various working groups of the MASB. Tan Liong Tong is the author of Wolters Kluwer’s Financial Instruments: Recognition, Measurement, Presentation & Disclosures (3rd Edition)

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