Malaysian Financial Reporting Standard 101
Presentation of Financial Statements
This version includes amendments resulting from MFRSs with effective dates no later than 1 January 2012.
Amendments with an effective date later than 1 January 2012 MFRS 101 has been amended by: MFRS 9 Financial Instruments* (IFRS 9 Financial Instruments issued by IASB in November 2009) MFRS 9 Financial Instruments* (IFRS 9 Financial Instruments issued by IASB in October 2010) MFRS 10 Consolidated Financial Statements* MFRS 12 Disclosure of Interests in Other Entities* MFRS 13 Fair Value Measurement* MFRS 119 Employee Benefits* (IAS 19 Employee Benefits as amended by IASB in June 2011) Presentation of Items of Other Comprehensive Income (Amendments to MFRS 101)† Those amendments have an effective date after 1 January 2012 and are therefore not included in this edition. * †
effective date 1 January 2013 effective date 1 July 2012
CONTENTS paragraphs Preface INTRODUCTION IN1–IN16
MALAYSIAN FINANCIAL REPORTING STANDARD 101 PRESENTATION OF FINANCIAL STATEMENTS OBJECTIVE SCOPE DEFINITIONS FINANCIAL STATEMENTS Purpose of financial statements Complete set of financial statements General features Fair presentation and compliance with MFRSs Going concern Accrual basis of accounting Materiality and aggregation Offsetting Frequency of reporting Comparative information Consistency of presentation STRUCTURE AND CONTENT Introduction Identification of the financial statements Statement of financial position Information to be presented in the statement of financial position Current/non-current distinction Current assets Current liabilities Information to be presented either in the statement of financial position or in the notes 1 2–6 7–8A 9–46 9 10–14 15–46 15–24 25–26 27–28 29–31 32–35 36–37 38–44 45–46 47–138 47–48 49–53 54–80A 54–59 60–65 66–68 69–76 77–80A
Statement of comprehensive income Information to be presented in the statement of comprehensive income Profit or loss for the period Other comprehensive income for the period Information to be presented in the statement of comprehensive income or in the notes Statement of changes in equity Information to be presented in the statement of changes in equity Information to be presented in the statement of changes in equity or in the notes Statement of cash flows Notes Structure Disclosure of accounting policies Sources of estimation uncertainty Capital Puttable financial instruments classified as equity Other disclosures TRANSITION AND EFFECTIVE DATE WITHDRAWAL OF IAS 1 (REVISED 2003) APPENDIX Amendments to other pronouncements
81–105 82–87 88–89 90–96 97–105 106–110 106 106A–110 111 112–138 112–116 117–124 125–133 134–136 136A 137–138 139–139F 140
Malaysian Financial Reporting Standard 101 Presentation of Financial Statements (MFRS 101) is set out in paragraphs 1–140 and the Appendix. All the paragraphs have equal authority. MFRS 101 should be read in the context of its objective and the Basis for Conclusions, the Foreword to Financial Reporting Standards and the Conceptual Framework for Financial Reporting. MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
The Malaysian Accounting Standards Board (MASB) is implementing its policy of convergence through adopting International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB) for application for annual periods beginning on or after 1 January 2012. The IASB defines IFRSs as comprising: (a) International Financial Reporting Standards;
(b) International Accounting Standards; (c) IFRIC Interpretations; and
(d) SIC Interpretations. Malaysian Financial Reporting Standards...
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