Understanding Financial Reporting Standards In Malaysia (Part 1)

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Private Class from

2000/day

(2 Days)

BENEFITS

Upon completion of this programme, participants will be able to:

  • Understand the requirements of financial reporting standards for an entity when it undertakes a share-based payment transaction. Know how to reflect in its profit or loss and financial position, the effects of share-based payment transactions, including expenses associated with transactions in which share options are granted to employees.
  • Understand the criteria for selecting and changing accounting policies, together with the accounting treatment and disclosure of changes in accounting policies, changes in accounting estimates and corrections of errors.
  • Understand how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency.

AUDIENCE

This program is suitable for all Finance Directors, Managers, Accounts, Finance Executives and Administrators who are in need of updates on Malaysian accounting principles or professional and investors who are also the users of financial statements.

METHODOLOGY

An interactive approach with lecturette, role-plays, case studies and activities in relation to topics discussed.

FRS 2 SHARE-BASED PAYMENTS
  • Definition Of Share-Based Payment
  • Scope
  • Recognition And Measurement
  • Illustration – Recognition Of Employee Share Option Grant
  • Measurement Guidance
  • Modifications, Cancellations, And Settlements
  • Disclosure
FRS 108 ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES AND ERRORS
  • Key Definitions
  • Selection And Application Of Accounting Policies
  • Consistency Of Accounting Policies
  • Changes In Accounting Policies
  • Disclosures Relating To Changes In Accounting Policies
  • Changes In Accounting Estimate
  • Disclosures Relating To Changes In Accounting Estimate
  • Errors
  • Disclosures Relating To Prior Period Errors
FRS 121 THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES
  • Key Definitions
  • Basic Steps For Translating Foreign Currency Amounts Into The Functional Currency
  • Foreign Currency Transactions
  • Translation From The Functional Currency To The Presentation Currency
  • Disposal Of A Foreign Operation
  • Disclosure

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