Amendments to MFRS 112 on deferred tax related to Assets and Liabilities
TIAS 12 Income Taxes When an entity recognises assets or liabilities for the first time, under IAS 12, the entity is exempted from recognising any deferred taxes. There has been a degree of ambiguity regarding the applicability of this exemption to circumstances in which an asset and a liability are simultaneously recognised in the course […]
Amendments to MFRS 137 on Onerous Contracts – Cost of Fulfilling a Contract
On 14 May 2020, the IASB issued ‘Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)‘ amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. As a result, the Malaysian Accounting Standards Board (“MASB”) issued the amendments to […]
