MPERS 2025 Section 23, now titled “Revenue from Contracts with Customers”, introduces significant revisions that align its principles more closely with IFRS 15.

The revised Section 23 is effective for annual periods beginning on or after 1 January 2027, with early application permitted. It represents a shift towards a more comprehensive and judgement-based approach to revenue recognition for small and medium-sized entities in Malaysia.

The Five-Step Revenue Recognition Model

The most significant change is the introduction of a five-step model for revenue recognition, which is a simplified version of the IFRS 15 framework.

1. Identify the Contract with a Customer

The entity must determine whether an enforceable contract exists with the customer.

2. Identify the Performance Obligations

The entity must identify the promises in the contract to transfer distinct goods or services to the customer.

3. Determine the Transaction Price

The transaction price is the amount of consideration that the entity expects to be entitled to in exchange for transferring the promised goods or services.

4. Allocate the Transaction Price

The transaction price is allocated to the performance obligations based on the relative stand-alone selling prices of the distinct goods or services.

5. Recognise Revenue When or as Performance Obligations Are Satisfied

Revenue is recognised when, or as, the entity satisfies a performance obligation. This generally occurs when control of the promised goods or services transfers to the customer.

This new framework replaces the previous risk-and-rewards approach and focuses instead on the transfer of control to the customer.

Challenges for Businesses

The transition to revised MPERS 2025 Section 23 may present several challenges for Malaysian businesses, particularly SMEs.

Increased Complexity and Judgement

Compared with the previous, simpler guidance, the five-step model requires more extensive analysis and professional judgement.

SMEs with limited accounting resources may find it challenging to assess contracts and apply the requirements consistently.

Identifying Distinct Performance Obligations

Many businesses offer bundled products or services. Separating these arrangements into distinct performance obligations can be difficult, particularly when the components are highly integrated.

Incorrectly identifying the performance obligations may result in revenue being recognised at the wrong time.

Determining and Allocating Variable Consideration

Contracts may include variable elements such as:

• Discounts;

• Rebates; and

• Performance bonuses.

Estimating variable consideration and allocating it across multiple performance obligations requires significant judgement and reliable methodologies. Depending on the circumstances, entities may need to use methods such as:

• The probability-weighted expected value method; or

• The most likely amount method.

Determining the stand-alone selling prices for allocation purposes may also be difficult when those prices are not directly observable.

Changes in the Timing of Revenue Recognition

The shift from a risk-and-rewards model to a control-based model means that businesses must carefully assess when control of goods or services transfers to the customer.

This may significantly change the timing of revenue recognition and affect financial reporting and key performance indicators, particularly for long-term contracts and service arrangements.

Data Collection and System Requirements

Applying the revised standard requires more detailed data to be captured and tracked at the contract level.

Many SMEs may need to upgrade or modify their existing accounting systems to accommodate these requirements. This may involve additional costs, time and internal resources.

Training and Education

Accounting personnel will need appropriate training to understand and apply the new revenue recognition principles correctly.

Insufficient training may lead to accounting errors and non-compliance, increasing the risk of audit findings.

Impact on Financial Ratios and Tax Matters

Changes in the timing and amount of recognised revenue may affect key financial ratios used by investors, lenders and other stakeholders.

Although accounting standards do not directly determine tax liabilities, changes in accounting revenue may require careful reconciliation for tax purposes and could indirectly affect tax planning.

Transitional Adjustments

Although transitional relief measures may be available, applying the revised requirements retrospectively may involve adjustments to opening balances and, where applicable, the restatement of prior-period financial statements.

This can be resource-intensive and requires careful planning and management.

Preparing for MPERS 2025 Section 23

Businesses should begin by reviewing their existing customer contracts, revenue streams and accounting policies. They should also assess whether their systems, data, processes and personnel are ready to support the five-step revenue recognition model.

Early preparation can help businesses identify potential changes in revenue timing, reduce implementation risks and ensure that financial reporting remains accurate and consistent when the revised requirements take effect.

MPERS 2025 第 23 节：收入确认与马来西亚企业面对的挑战

MPERS 2025 第 23 节现已更名为**“客户合同收入（Revenue from Contracts with Customers）”**，并作出重大修订，使其原则更加贴近 IFRS 15。

修订后的第 23 节适用于 2027 年 1 月 1 日或之后开始的年度期间，并允许企业提前采用。

这项修订代表马来西亚中小型企业在收入确认方面，逐步转向更全面、更加依赖专业判断的处理方式。

五步收入确认模型

最显著的变化，是引入了收入确认五步法。这套模式是 IFRS 15 框架的简化版本。

第一步：识别与客户订立的合同

企业必须确定是否与客户订立了一项具有可执行性的合同。

第二步：识别合同中的履约义务

企业必须识别合同中向客户转让可明确区分的商品或服务的各项承诺。

第三步：确定交易价格

交易价格，是企业预期有权获得的、以换取向客户转让承诺商品或服务的对价金额。

第四步：将交易价格分摊至履约义务

企业应根据每项可明确区分的商品或服务的相对单独售价，将交易价格分摊至各项履约义务。

第五步：在履约义务满足时确认收入

当企业履行履约义务时，或随着履约义务逐步履行时，确认收入。一般而言，当承诺商品或服务的控制权转移给客户时，履约义务就会被满足。

这套新框架取代了以往较强调风险和报酬转移的方法，转而关注商品或服务的控制权是否已经转移给客户。

企业面对的挑战

修订后的 MPERS 2025 第 23 节，可能会为马来西亚企业，尤其是中小型企业带来多项挑战。

复杂性及专业判断增加

与以往较简单的指引相比，五步法要求企业进行更深入的分析及专业判断。

会计资源有限的中小型企业，可能会发现在合同评估及持续应用方面面对较大压力。

识别可明确区分的履约义务

许多企业提供捆绑式商品或服务。将这些安排拆分为各项可明确区分的履约义务，可能并不容易，尤其是在各组成部分高度整合的情况下。

如果企业错误识别履约义务，可能导致收入在错误的期间确认。

确定及分摊可变对价

合同中可能包含以下可变因素：

• 折扣；

• 回扣；以及

• 绩效奖金。

估计可变对价，并将其分摊至多项履约义务，需要大量专业判断及可靠的方法。根据实际情况，企业可能需要采用：

• 概率加权预期价值法；或

• 最可能金额法。

如果无法直接观察到单独售价，确定用于分摊的单独售价也可能具有挑战性。

收入确认时点的变化

从风险和报酬模式转向以控制权为基础的模式，意味着企业必须仔细评估商品或服务的控制权何时转移给客户。

这可能显著改变收入确认的时点，并影响财务报告及关键绩效指标，尤其是长期合同及服务安排。

数据收集及系统要求

实施修订后的准则，需要企业在合同层面收集及追踪更详细的数据。

许多中小型企业可能需要升级或修改现有会计系统，以应对新的数据要求。这可能涉及额外的成本、时间及内部资源。

培训与教育

会计人员需要接受适当培训，以理解并正确应用新的收入确认原则。

如果培训不足，可能导致会计错误及不合规情况，从而增加审计发现的风险。

对财务比率及税务事项的影响

收入确认的时点及金额发生变化，可能影响投资者、贷款人及其他利益相关者所使用的主要财务比率。

虽然会计准则不会直接决定企业的税务责任，但会计收入的变化可能需要进行更仔细的税务协调，并可能间接影响税务规划。

过渡性调整

虽然企业可能享有相关过渡性豁免，但追溯应用修订后的要求，可能涉及期初余额调整，并在适用情况下重列前期财务报表。

这项工作可能需要大量资源，因此企业必须进行周详的规划及管理。

企业应如何准备 MPERS 2025 第 23 节？

企业应尽早检讨现有客户合同、收入来源及会计政策，并评估现有系统、数据、流程及员工是否已经具备实施五步收入确认模型的条件。

及早准备能够帮助企业识别收入确认时点可能出现的变化，降低实施风险，并确保修订后的要求生效后，财务报告仍然准确且一致。