TITLE : FINANCIAL ACCOUNTING & REPORTING IN MALAYSIA.

 
CONTENTS
 
Foreword            iii
 
Preface              v
 
Index of Approved Accounting Standards, Exposure Drafts,
Technical Bulletins and Chapter Reference            xv
 
Index of Abstracts from Financial Statements           xvii
 
Chapter 1: An Overview of Malaysian Financial Reporting Practices
 
1. Introduction                 1
 
2. A Historical Perspective           1
 
3. Statutory Regulations on Financial Accounting and Reporting       3
 
4. Accounting Standard Pronouncements in Malaysia           10
 
5. Summary of Reporting Requirements by Types of Enterprise        17
 
6. The Current State-of-the-Art Accounting and Reporting Practices
18
 
7. International Accounting Standard 1 (IAS) No. 1: Disclosure of
Accounting Policies	           19
 
8. A Framework for Financial Reporting        	21
 
9. The Directors' Report of Companies           27
 
Chapter 2: The Profit and Loss Account
 
1. Introduction             29
 
2. The Meaning and Measurement of Accounting Profit          29
 
3. Requirements of Statutes and Accounting Standards           32
 
4. Revenue Recognition             42
 
5. Concepts to the Presentation of the Income Statement        55
 
6. Exceptional Items versus Extraordinary Items         57
 
7. Fundamental Errors and Prior Period Items          62
 
8. Changes in Accounting Policies         65
 
9. Changes in Accounting Estimates                73
 
10. IAS 8 (Revised)	               73
 
Chapter 3: Stocks, Construction Contracts and Property Development
 
1. Introduction      85
 
2. Requirements of Statutes and Accounting Standards            86
 
3. Accounting Principles for Stocks          90
 
4. Accounting for Construction Contracts             102
 
5. Accounting Principles for Construction Contracts          106
 
6. Accounting for Property Development         118
 
7. IAS 23 and Capitalisation of Borrowing Costs on Development
Projects
130
 
8. IAS 23 (Revised): Borrowing Costs            136
 
Chapter 4: Current Assets and Current Liabilities
 
1. Introduction          139
 
2. Requirements of Statutes and Accounting Standards 	    139
 
3. Accounting Principles for Current Assets and Current
Liabilities	143
 
Chapter 5: Fixed Assets, Depreciation and Revaluation
 
1. Introduction 	       161
 
2. Requirements of Statutes and Accounting Standards	      162
 
3. Accounting Principles               170
 
4. Depreciation Accounting       	178
 
5. A Current Trend and Issue 	         185
 
6. Accounting for Revaluation of Fixed Assets	       186
 
Chapter 6 Investments and Investment Properties
 
1. Introduction          195
 
2. Requirements of Statutes and Accounting Standards         196
 
3. Accounting Principles              206
 
4. Accounting for Investment Properties                   227
 
Chapter 7: Intangible Assets
 
1. Introduction           231
 
2. Requirements of Statutes and Accounting Standards           235
 
3. Accounting Principles                240
 
Chapter 8: Long-term Financial Liabilities
 
1. Introduction	             273
 
2. Requirements of Statutes and Accounting Standards	274
	
3. Accounting for Corporate Bonds 	     277
 
4. Accounting for Leases 	       294
 
5. Accounting for Convertible Bonds and Bonds Issued with Warrants	321
 
Chapter 9 Deferred Taxation
 
1. Introduction              333
 
2. Requirements of Statutes and Accounting Standards            336
 
3. Accounting Principles           339
 
4. Comprehensive Tax Allocation              352
 
5. Partial Tax Allocation              365
 
6. Deferred Tax Assets and Tax Losses             374
 
7. Intra-period Tax Allocation                380
 
8. Sundry Issues of Tax Effect Accounting              394
 
Chapter 10: Retirement Benefits
 
1. Introduction             397
 
2. Requirements of Statutes and Accounting Standards            397
 
3. Accounting Principles               400
 
4. Accounting and Reporting by Retirement Benefit Plans           412
 
Chapter 11: Commitments, Contingencies, Post Balance Sheet Events and
Deferred Income
 
1. Introduction           415
 
2. Requirements of Statutes and Accounting Standards        415
 
3. Accounting for Commitments	     421
 
4. Accounting for Contingencies	        422
 
5. Accounting for Post Balance Sheet Events	          428
 
6. Accounting for Profit Guarantee and Contingencies in
Business Acquisitions	         434
 
7. Accounting for Govemment Grants and Other Deferred Income	    447
 
Chapter 12: Share Capital, Reserves and Compound Capital Instruments
 
1. Introduction          457
 
2. Requirements of Statutes and Accounting Standards          458
 
3. Accounting Principles              460
 
4. Current Issues in the Classification of Liabilities and Equity -
IAS
32           487
 
Chapter 13: Earnings Per Share
 
1. Introduction           493
 
2. Basic Principles          493
 
3. Single Earnings Per Share       495
 
4. Changes in Capital Structure          499
 
5. Fully Diluted Eamings Per Share             510
 
6. Antidilution             521
 
7. Bonus Issue of Shares and Effects on Warrants and Convertibles  524
 
8. Disclosure Requirements           526
 
9. Some Limitations of EPS Infommation           527
 
Chapter 14: Business Combinations
 
1. Introduction          529
 
2. Requirements of Statutes and Accounting Standards          531
 
3. The Acquisition Method                547
 
4. Piecemeal Acquisitions of Shares           562
 
5. The Merger Method              570
 
6. The Current Thinking on Merger Accounting - IAS 22 (Revised)    583
 
Chapter 15: Consolidated Financial Statements
 
1. Introduction	       585
 
2. Different Reporting Date of a Subsidiary Acquired During the
Year	585
 
3. Presenting the Results of a Subsidiary Acquired During the Year	590
	
4. Inter-company Transactions and Unrealised Profits	592
	
5. Inter-company Dividends	        606
 
6. Revaluation of Subsidiaries in the Separate Accounts of the Parent
614
 
7. Complex Group Structures	620
 
8. Disposal of Shares in a Subsidiary	628
 
9. Dilution of Equity Interest and Deemed Disposal	648
 
Chapter 16 Accounting for Associates and Joint Ventures
 
1. Introduction          	655
 
2. Requirements of Statutes and Accounting Standards		655
 
3. Accounting for Investments in Associates		666
 
4. Reciprocal Shareholdings between Investor and Associate		692
 
5. Accounting for Joint Venture Entities		699
 
Chapter 17: Foreign Currency Operations and Hedge Accounting
 
1. Introduction         709
 
2. Requirements of Statutes and Accounting Standards          710
 
3. Accounting for Foreign Currency Transactions          713
 
4. Translation of Financial Statements of Foreign Operations       724
 
5. Hedge Accounting           741
 
Chapter 18: Cash Flow Statements
 
1. Introduction 		747
 
2. Requirements of Statutes and Accounting Standards 		748
 
3. Principles of Cash Flow Statements 		752
 
4. Group Cash Flow Statements 		770
 
Chapter 19: Disclosures on Segmental Information and Related Parties
 
1. Introduction 		307
 
2. Requirements of Statutes and Accounting Standards on Segment
Information       807
 
3. Requirements of Statutes and Accounting Standards on Related
Parties        809
 
4. Principles of Segmental Reporting        820
 
5. Principles of Related Party Disclosures          828
 
Chapter 20: Specialised Industries in Malaysia - I
 
1. Accounting for Plantation Operations           843
 
2. Accounting for Aquaculture             862
 
3. Accounting and Reporting by Insurance Enterprises          871
 
Chapter 21: Specialised Industries in Malaysia - II
 
1. Accounting and Reporting by Banks and Similar Financial
Institutions	899
 
2. Accounting and Reporting by Unit Trust Funds	       930
 
3. Accounting Issues of Extractive Industries	     944
 
3.4 Restoration Costs 	951
 
3.5 Provision for Retrenchment Benefits 	952
 
Chapter 22: Social and Voluntary Reporting Practices
 
1. Corporate Social Reporting 	953
 
2. Types of Corporate Social Reporting Practices 	953
 
3. Reporting of Profit Forecast and Projection 	       962
 
4. Interim Reporting 	968
 
5. Likely Future Accounting and Reporting Practices	        975
 
Index             977