MPERS: Guidance on transition adjustments and disclosures - Malacca (18-Mar-2016)

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On 14 February 2014 the Malaysian Accounting Standards Board (the Board) issued a new financial reporting framework for private entities, the Malaysian Private Entities Reporting Standard (MPERS).  All private reporting entities shall apply MPERS for its financial statements beginning on or after 1 January 2016.
Section 35 prescribes the accounting treatment and disclosure requirements for a first-time adopter of MPERS.  The objective of Section 35 is to provide a suitable starting point for accounting in accordance with MPERS, and also to ensure that the financial statements contain high quality information that is transparent for users, comparable over all periods presented and that can be generated at a cost that does not exceed the benefits to users.


1) Objective of Section 35 of MPERS

2) The seven main steps for the transition implementation
• Determine whether the entity is a first-time adopter of MPERS.
• Determine the transition date to the MPERS.
• Apply mandatory exceptions
• Apply the optional exemptions
• Select accounting policies
• Determine the adjustments
• Prepare the first MPERS financial statements

3) Application of the principles with illustrative examples of the above 7 steps

4) Reinforce the application of the seven steps by working through a case study

5) Disclosures for a first time adopter

Learning objectives

To develop the participant’s understanding of the requirements of a first-time adopter’s to MPERS, what is permitted, and what is prohibited when selecting an entity’s initial accounting policies in accordance with the MPERS

Ms Oh Ai Sim
Has over 20 years of audit related experience with a big four accounting firm. Her portfolio of clients includes public listed entities and multinational
corporations covering the following industries: retailing, manufacturing, trading, property development and construction. She also conducted in-house and client training covering FRS and audit related topics.


Accountants, finance managers, financial controllers, auditors, CFOs, Finance directors and anyone who wanted to know about MPERS updates.

1 day