Malaysian Financial Reporting Standards (MFRSs)

• Format: Book
• Language: English
• Published: Kuala Lumpur, Malaysia MALAYSIAN ACCOUNTING STANDARDS BOARD 2018
• Series: Malaysian Financial Reporting Standards Bound volume I & II
• Subjects: Accounting > Malaysia; Financial statements > Malaysia; Corporations > Accounting > Malaysia
• Online Access: Click Here to View Status and Holdings.
• Physical Description: xviii (various paging) 25 cm

all required to prepare statutory financial statements. And the financial reporting framework serves as a guideline to ensure each criterion that is needed is being fulfilled. These statements that are prepared must be in accordance with the approved accounting standards which have been set forth by the Malaysian Accounting Standards Board, also known as the MASB for short. This financial reporting framework applies to all local companies registered here in Malaysia. For foreign companies, it is a little different. Foreign companies who are listed on the Malaysian Stock Exchange can prepare their financial statements or reports in accordance with certain internationally recognised accounting standards. An example of one of these internationally recognised standards is the International Financial Reporting Standards, or the IFRS. Before we look at the Malaysian Financial Reporting Standards, it is first important to understand the types of approved accounting standards by the MASB that are recognised and practiced in Malaysia.