Issues  
 
30- What is the appropriate accounting treatment for dividend equalisation for unit trust funds? (2009)
29- What is the appropriate accounting treatment for losses incurred by property developers on the construction and sale of low-cost houses of a property developer? (2009)
28- Should the financial statements of a financially healthy entity be prepared on a basis other than a going concern basis when management intends to liquidate or to cease trading or has no realistic alternative but to do so? (2008)
27-

FRS 117.14 requires that "an upfront payment made to obtain the right to use the land to be capitalised as a lease payment". Is the gross method of presenting "Partially Paid Prepaid Lease Rentals" acceptable under FRS 117 Leases to record the transaction? (2008)
26-

FRS 127 allows Investment in Subsidiary be stated either at cost or at the carrying revalued amount. How does a company apply FRS 127 retrospectively if it chooses to state its Investment in Subsidiary at cost in a situation where the revaluation reserve has been utilized? (2008)
25- Should investment tax allowance and reinvestment allowance be recognised as a deferred tax? (2008)
24- Is FRS 1 applicable in the migration of accounting framework from the Private Entity Reporting Standards (PERS) to the Financial Reporting Standards (FRS)? (2008)
23-

What are the expenses permitted to be written off against the share premium account under Section 60 of the Companies Act, 1965? (2008)
22-

Should FRS 121 be amended to allow an entity to present its financial statements in its functional currency which is a currency other than Ringgit Malaysia? (2008)
21-

FRS 3 requires published quoted price of equity instruments issued to be taken as the fair value of the cost of business combination. How do we deal with the incremental goodwill created when the fair value of business combination (based on published quoted price) exceeds the agreement price on the completion date of the business combination? (2008)
20- What is the appropriate accounting treatment for forest management unit (FMU)? (2007)
19- Should trust account maintained by Participating Organisation (‘PO’) as defined by Rule 101.1 of the Rules of Bursa Malaysia Securities Berhad (‘the Rules’) be recognised in the balance sheet? (2007)
18- Is profit equalisation reserve maintained by Islamic banking institutions a liability? (2007)
17- Is projected revenue method appropriate to recognise revenue from shipping freight services? (2007)
16- Is fixed deposit held on lien a cash and cash equivalent? (2007)
15- Is writing off of goodwill against share premium (without passing through income statement) pursuant to court’s approval in accordance with requirements of FRS 136 Impairment of Assets? (2007)
14- When a company changes the measurement basis for its assets (from cost to valuation or vice versa) which warrants a prior year adjustment, should the related depreciation charges be adjusted retrospectively based on the revised definition of residual value in accordance with FRS 116 Property, Plant and Equipment or should the effect of the depreciation charges due to the revised definition of residual value be adjusted prospectively? (2007)
 

 

 
 
  Events  
  FRSIC Organised A Talk On Employee Share Options Scheme (Esos) Valuation
 16 Apr 2008
On 16 April 2008, the Financial Reporting Standards Implementation Committee (FRSIC) organized a talk on Employee Share Options Scheme...		  
     

 

 FRSIC Meets with Institute of Surveyors, Malaysia (ISM)
 10 Apr 2008
FRSIC had initiated a dialogue with representatives from the Institute of Surveyors Malaysia (ISM) on 10 April 2008; which...		  

 

 
 
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Welcome to FRSIC

Financial Reporting Standards Implementation Committee (FRSIC) is a newly formed committee of the Malaysian Institute of Accountants. Its main function is to provide assistance to MIA members, both preparers and auditors, on matters of common interest relating to accounting standards by way of providing implementation guidance. more

Preparers and auditors are invited to write in to FRSIC on issues of general concern relating to accounting standards.

To submit issues, please use the following form: Download form

This project is supported by the Capital Market Development Fund (CMDF).
 

  
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