Financial Instruments Recognition, Measurement, Presentation & Disclosures

• Main Author: Tan, Liong Tong (Author)
• Format: Book
• Language: English
• Published: Kuala Lumpur Commerce Clearing House (Malaysia) Sdn Bhd 2015
• Edition: 3rd Edition
• Subjects: Financial instruments > Accounting; Financial instruments > Malaysia
• Online Access: Click Here to View Status and Holdings.

 This book addresses the various Standards regarding accounting for financial instruments in Malaysia, with the objective of making the standards understandable and operational to accountants and accounting students. These Standards are MFRS 139 Financial Instruments : Recognition and Measurement, MFRS 132 Presentation. MFRS 7 Financial Instruments: Disclosures and MFRS 9 (2014) Financial Instruments. Since the second edition of this book was written in 2011, there have been numerous updates and developments on the financial reporting standards for financial instruments. This third edition has been drafted to include the new IC Interpretations, the Amendments to the MFRSs, and the additions to MFRS 9 that now include classification and measurement of financial assets and financial liabilities, impairment methodology and new hedge accounting model. It also includes more detailed discussions of accounting for some common derivative instruments and complex implementation issues of the standards, such as the assessment of hedge effectiveness. There are five chapters in this book. Chapter 1 discusses the Standards on recognition and derecognition of financial assets and financial liabilities. Chapter 2 discusses the measurement standards for the various categories of financial assets and financial liabilities, and the reclassification requirements. Chapter 3 deals with the subject of hedging and hedge accounting. Chapter 4 deals with the presentation of financial instruments required by MFRS 132 and Section 22 of MPERS. Finally, Chapter 5focuses on the disclosure requirements of MFRS 7. This book is recommended for practitioners, preparers and users of financial statements, as well as students to assist them in understanding the complex subject matters of accounting for financial instruments. This book is also an excellent reference because the examples provided relate mostly to the financial instruments that are currently available in Malaysia.