Malaysia Mfrs Report

Topics: International Financial Reporting Standards, Investment, Finance Pages: 3 (687 words) Published: May 18, 2013
Changes and Development of Financial Reporting Standard|
The purpose of this report is to record all changes and development of MFRS and IFRS for the 10 weeks from 25 February - 3 May| 6/5/2013|

Name Student ID
Nguyen Dinh Bach B0901235
Ta Duy Cuong E1100059
Le Nguyen Bao KhanhE1100025
Leong Yi YungB1000048

CHANGES AND DEVELOPMENT BY MALAYSIAN FINANCIAL REPORTING STANDARDS In February 2013, Malaysian Financial Reporting Standard has issued some investment entities that affect some following MFRS with effective date beginning on 1 January 2014. MFRS 10 – Consolidated Financial Statements

1. An investment entity is an entity that:
* obtains funds from one or more investors for the purpose of providing those investor(s) with investment management services; * commits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both; and * Measures and evaluates the performance of substantially all of its investments on a fair value basis.

2. When an investment entity obtains control of another entity, it shall not consolidate its subsidiaries or apply MFRS 3. Instead, an investment entity will measure an investment in subsidiary at fair value through profit or loss, which is suitable to MFRS 9. MFRS 12 – Disclosure of Interest in Other Entities

1. When a parent determines that it is an investment entity in accordance with paragraph 27 of MFRS 10, the investment entity shall disclose information about significant judgments and assumptions it has made in determining that it is an investment entity. If the investment entity does not have one or more of the typical characteristics of an investment entity (see paragraph 28 of MFRS 10), it shall disclose its reasons for concluding that it is nevertheless an investment entity. MFRS 127 – Separate Financial Statements

1. When an investment...

Bibliography: 1. Investment Entities (Amendments to MFRS 10, MFRS 12 and MFRS 127). [Online]
Available at: [Accessed 26 April, 2013]
2. Investment Entities (Amendments to MFRS 10, MFRS 12 and MFRS 127) [Online]Available at: [Accessed 26 April, 2013]
3. Investment Entities (Amendments to MFRS 10, MFRS 12 and MFRS 127) [Online] Available at: [Accessed 26 April, 2013]
4. Financial Instruments (Topic 825) – Clarifying the scope and applicability of a Particular Disclosure to Nonpublic Entities [Online]
Available at: [Accessed 28 April, 2013]
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