MASB issues amendments to several Standards and a new Interpretation (29 December 2016)

MASB issues amendments to several Standards and a new Interpretation (29 December 2016)

The Malaysian Accounting Standards Board (MASB) has today issued a few amendments to certain existing Standards and one new Interpretation. They are:

(1) Malaysian Financial Reporting Standards (MFRSs)
> Applying MFRS 9 Financial Instruments with MFRS 4 Insurance Contracts (Amendments to MFRS 4)
> Transfers of Investment Property (Amendments to MFRS 140)
> Annual Improvements to MFRS Standards 2014–2016 Cycle
> IC Interpretation 22 Foreign Currency Transactions and Advance Consideration

(2) Financial Reporting Standards (FRSs)
> Applying FRS 9 Financial Instruments with FRS 4 Insurance Contracts (Amendments to FRS 4)
> Transfers of Investment Property (Amendments to FRS 140)
> Annual Improvements to FRS Standards 2014–2016 Cycle
> IC Interpretation 22 Foreign Currency Transactions and Advance Consideration

The above pronouncements are word-for-word the respective pronouncements issued by the International Accounting Standards Board (IASB).

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