Tan, Liong Tong (2015) A Comparative Analysis of PERS, MPERS and MFRS Frameworks. Piawaian Pelaporan Kewangan Malaysia.
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Abstract
In February 2014, the MASB issued Malaysian Private Entities Reporting Standard (MPERS) and this sets a new milestone for financial reporting of private entities in Malaysia. MPERS is based substantially on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued by the IASB in July 2009. The new reporting framework, known as the MPERS Framework, is effective for financial statements beginning on or after 1 January 2016, with early application permitted. Private entities now have a choice of continuing with the existing Private Entity Reporting Standards (PERS) Framework, or apply the Malaysian Financial Reporting Standards (MFRS) Framework (mandatory for non-private entities, except transitioning entities), or by 1 January 2016, mandatory migration to the new MPERS Framework. As the requirement for first-time adoption of MPERS is retrospective, it is important the private entities prepare in advance if they have to migrate to the MPERS Framework or the MFRS Framework in the near future.
| Item Type: | Article |
|---|---|
| Divisions: | Government Publication > Goverment organizations |
| Depositing User: | Esam @ Hisham Muhammad |
| Date Deposited: | 02 Jan 2024 06:05 |
| Last Modified: | 02 Jan 2024 06:05 |
| URI: | http://odlsystem2.utm.my/id/eprint/4422 |
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