MFRS 15 Revenue, MFRS 16 Leases and latest updates to other MFRSs - Workshop 2018

Overview

For REPs, Member staff and Group (3+) registrations, complete & email registration form to cpd.malaysia@cpaaustralia.com.au

SIBU: Download brochure & registration form
MIRI: Download brochure & registration form
 

Presenter:
Ms Oh Ai Sim

MFRS 15 replaces all existing MFRS revenue recognition guidance with a single framework, for reporting periods beginning on or after 1 January 2018. Meanwhile MFRS 16 Leases replaces current guidance in MFRS 117, for reporting periods beginning on or after 1 January 2019. Gain an understanding of these standards from a practical perspective.

Key topics covered:

• • Overview of MFRS 15
  • Differences in concepts between MFRS 118, MFRS 111 and MFRS 15
  • Key concepts which forms the foundation of MFRS 15
  • Application of variable considerations and its measurement
  • Allocation methods for multiple performance obligations
  • Concept of control when performance obligation is satisfied
  • Criteria for satisfaction of performance obligation satisfied over time and at a point in time
  • Contract cost guidance
  • Presentation and disclosures
  • Overview of MFRS 16
  • The changes to lessee accounting
  • Measurement of lease liability
  • Measurement of right of use asset
  • Accounting for exempt leases
  • Updates on Other MFRS

Objectives

• Gain practical knowledge of the two new Standards on their recognition, measurement and disclosure policies
• Understand the financial impact on the reported results of an entity
• Learn the latest updates to other Malaysian Financial Reporting Standards
• Know the application of the key principles in the new Standards, amendments and updates

All our workshops are available via in-house training.

Audience

Chartered accountants, advisors, auditors, consultants, investors, investment bankers, Directors, CFOs, finance / accounting managers, supervisors, executives and professionals and staff involved in preparing financial accounting records