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Articles
Financial Reporting Standards
Compliance with FRS are legislated under Financial Reporting Act 1997 [Section 26D].
| Standard | Title | Effective Date | Issuance Date | Status | Comparison with previous Standard |
|
|
First-time Adoption of Financial Reporting Standards [Compiled Jan 2011] | 1 Jul 2010 | Jan 2010 | Enacted | - |
| Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters (Amendments to FRS 1) |
1 Jan 2012 | Nov 2011 | Enacted | - | |
| Government Loans (Amendments to FRS 1) | 1 Jan 2013 | Apr 2012 | Enacted | - | |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
FRS 2 |
Share-based Payment [Compiled Sept 2010] | 1 Jan 2006 | Feb 2006 | Enacted | - |
|
FRS 3 |
Business Combinations [Superseded with effect from 1 July 2010 by FRS 3 issued in January 2010] |
1 Jan 2006 | Feb 2006 | Enacted | View |
| Business Combinations [Compiled Apr 2011] |
1 Jul 2010 |
Jan 2010 | Enacted | - | |
|
FRS 4 |
Insurance Contracts | 1 Jan 2010 | Nov 2008 | Enacted | - |
|
FRS 5 |
Non-current Assets Held for Sale and Discontinued Operations | 1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendment to FRS5 [Improvements to FRSs (2009)] |
1 Jan 2010 | Sep 2009 | Enacted | - | |
| Amendments to FRS5 Non-current Assets Held for Sale and Discontinued Operations |
1 Jul 2010 | Jan 2010 | Enacted | - | |
|
FRS 6 |
Exploration for and Evaluation of Mineral Resources [Compiled Aug 2010] | 1 Jan 2007 | Aug 2006 | Enacted | - |
|
FRS 7
|
Financial Instruments: Disclosures | 1 Jan 2010 | Nov 2008 | Enacted | - |
| Amendments to FRS 139 Financial Instruments: Recognition and Measurement, FRS 7 Financial Instruments: Disclosures and IC Interpretation 9 Reassessment of Embedded Derivatives | 1 Jan 2010 | Sept 2009 | Enacted | - | |
| Improving Disclosures about Financial Instruments (Amendments to FRS 7) | 1 Jan 2011 | Mar 2010 | Enacted | - | |
| Amendments to FRS 7 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
| Disclosures – Transfers of Financial Assets (Amendments to FRS 7) | 1 Jan 2012 | Nov 2011 | Enacted | - | |
| Disclosures—Offsetting Financial Assets and Financial Liabilities (Amendments to FRS 7) | 1 Jan 2013 | Mar 2012 | Enacted | - | |
|
Mandatory Effective Date of FRS 9 and Transition Disclosures (Amendments to FRS 9 (IFRS 9 issued by IASB in November 2009), FRS 9 (IFRS 9 issued by IASB in October 2010) and FRS 7) |
Effective immediately | Mar 2012 | Enacted | - | |
|
FRS 8 |
Operating Segments | 1 Jul 2009 | Nov 2008 | Enacted | - |
| Amendment to FRS8 [Improvements to FRSs (2009)] | 1 Jan 2010 | Sep 2009 | Enacted | - | |
|
FRS 9 (IFRS 9 (2009)) |
Financial Instruments (IFRS 9 issued by IASB in November 2009) | 1 Jan 2015 | Nov 2011 | Enacted | - |
|
Mandatory Effective Date of FRS 9 and Transition Disclosures (Amendments to FRS 9 (IFRS 9 issued by IASB in November 2009), FRS 9 (IFRS 9 issued by IASB in October 2010) and FRS 7) |
Effective immediately | Mar 2012 | Enacted | - | |
|
FRS 9 (IFRS 9 (2010)) |
Financial Instruments (IFRS 9 issued by IASB in October 2010) | 1 Jan 2015 | Nov 2011 | Enacted | - |
|
Mandatory Effective Date of FRS 9 and Transition Disclosures (Amendments to FRS 9 (IFRS 9 issued by IASB in November 2009), FRS 9 (IFRS 9 issued by IASB in October 2010) and FRS 7) |
Effective immediately | Mar 2012 | Enacted | - | |
|
FRS 10
|
Consolidated Financial Statements | 1 Jan 2013 | Nov 2011 | Enacted | - |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
Investment Entities (Amendments to FRS 10, FRS 12 and FRS 127) |
1 Jan 2014 | Feb 2013 | Enacted | - | |
|
FRS 11 |
Joint Arrangements | 1 Jan 2013 | Nov 2011 | Enacted | - |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
FRS 12
|
Disclosure of Interests in Other Entities | 1 Jan 2013 | Nov 2011 | Enacted | - |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
Investment Entities (Amendments to FRS 10, FRS 12 and FRS 127) |
1 Jan 2014 | Feb 2013 | Enacted | - | |
|
FRS 13 |
Fair Value Measurement | 1 Jan 2013 | Nov 2011 | Enacted | - |
|
FRS 101 |
Presentation of Financial Statements | 1 Jan 2010 | Sep 2009 | Enacted | - |
| Amendments to FRS 101 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
| Presentation of Items of Other Comprehensive Income (Amendments to FRS 101) | 1 Jul 2012 | Nov 2011 | Enacted | - | |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
FRS 102 |
Inventories [Compiled Aug 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
| Statement of Cash Flows [Compiled May 2010] | 1 Jul 2007 | Jun 2007 | Enacted | - | |
|
FRS 108 |
Accounting Policies, Changes in Accounting Estimates and Errors | 1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendment to FRS 108 [Improvements to FRSs (2009)] | 1 Jan 2010 | Sep 2009 | Enacted | - | |
|
FRS 110 |
Events After the Reporting Period [Compiled May 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
| FRS 111 | Construction Contracts [Compiled Sept 2010] | 1 Jul 2007 | Jun 2007 | Enacted | - |
|
FRS 112 |
Income Taxes [Compiled Feb 2011] | 1 Jul 2007 | Jun 2007 | Enacted | - |
| Deferred Tax: Recovery of Underlying Assets (Amendments to FRS 112) | 1 Jan 2012 | Nov 2011 | Enacted | - | |
|
FRS 116
|
Property, Plant and Equipment [Compiled May 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
FRS 117 |
Leases [Compiled Feb 2011] | 1 Oct 2006 | Feb 2006 | Enacted | View |
|
FRS 118 |
Revenue [Compiled May 2010] | 1 Jul 2007 | Jun 2007 | Enacted | - |
|
FRS 119 |
Employee Benefits [Compiled Feb 2011] [Superseded with effect from 1 January 2013 by FRS 119 issued in November 2011 ] |
1 Jan 2003 | Jun 2007 | Enacted | - |
|
FRS 119 (2011) |
Employee Benefits | 1 Jan 2013 | Nov 2011 | Enacted | - |
|
FRS 120 |
Accounting for Government Grants and Disclosure of Government Assistance [Compiled August 2011] |
1 Jul 2007 | Jun 2007 | Enacted | - |
|
FRS 121 |
The Effects of Changes in Foreign Exchange Rates [Compiled Sept 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendments to FRS 121 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
|
FRS 123 |
Borrowing Costs | 1 Jan 2010 | May 2009 | Enacted | - |
| Amendment to FRS 123 [Improvements to FRSs (2009)] | 1 Jan 2010 | Sep 2009 | Enacted | - | |
|
FRS 124 |
Related Party Disclosures [Superseded with effect from 1 Jan 2012 by FRS 124 issued in November 2010] |
1 Oct 2006 | Feb 2006 | Enacted | View |
| Related Party Disclosures | 1 Jan 2012 | Nov 2010 | Enacted | - | |
| FRS 126 | Accounting and Reporting by Retirement Benefit Plans | 1 Jan 2003 | Jun 2007 | Enacted | - |
|
FRS 127 |
Consolidated and Separate Financial Statements [Superseded with effect from 1 July 2010 by FRS 127 issued in January 2010] |
1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendments to FRS 1 First-time Adoption of Financial Reporting Standards and FRS 127 Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate | 1 Jan 2010 | May 2009 | Enacted | - | |
| Amendment to FRS 127 [Improvements to FRSs (2009)] | 1 Jan 2010 | Sep 2009 | Enacted | - | |
|
Consolidated and Separate Financial Statements [Compiled Jan 2011] [Superseded with effect from 1 January 2013 by FRS 127 Separate Financial Statements and FRS 10 Consolidated Financial Statements] |
1 Jul 2010 | Jan 2010 | Enacted | - | |
|
FRS 127 (2011) |
Separate Financial Statements | 1 Jan 2013 | Nov 2011 | Enacted | - |
|
Investment Entities (Amendments to FRS 10, FRS 12 and FRS 127) |
1 Jan 2014 | Feb 2013 | Enacted | - | |
|
FRS 128 |
Investments in Associates [Compiled Sept 2010] [Superseded with effect from 1 January 2013 by FRS 128 Investment in Associates and Joint Ventures ] |
1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendments to FRS 128 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
|
FRS 128 (2011) |
Investment in Associates and Joint Ventures | 1 Jan 2013 | Nov 2011 | Enacted | - |
|
FRS 129 |
Financial Reporting in Hyperinflationary Economies | 1 Jan 2003 | Jun 2007 | Enacted | - |
| Amendment to FRS 129 [Improvements to FRSs (2009)] | 1 Jan 2010 | Sep 2009 | Enacted | - | |
|
FRS 131 |
Interests in Joint Ventures [Compiled Sept 2010] [Superseded with effect from 1 January 2013 by FRS 11 issued in November 2011 ] |
1 Jan 2006 | Feb 2006 | Enacted | View |
| Amendments to FRS 131 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
|
FRS 132
|
Financial Instruments: Presentation [Compiled Jan 2011] | 1 Jan 2006 | Feb 2006 | Enacted | View |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
| Offsetting Financial Assets and Financial Liabilities (Amendments to FRS 132) | 1 Jan 2014 | Mar 2012 | Enacted | - | |
|
FRS 133 |
Earnings Per Share [Compiled Sept 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
|
FRS 134
|
Interim Financial Reporting [Compiled Sept 2010] | 1 Jul 2007 | Jun 2007 | Enacted | - |
| Amendments to FRS 134 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
| 1 Jan 2013 | Jul 2012 | Enacted | - | ||
|
FRS 136 |
Impairment of Assets [Compiled May 2010] | 1 Jan 2006 | Feb 2006 | Enacted | View |
|
FRS 137 |
Provisions, Contingent Liabilities and Contingent Assets [Compiled Aug 2010] | 1 Jul 2007 | Jun 2007 | Enacted | - |
|
FRS 138 |
Intangible Assets [Compiled August 2011] | 1 Jan 2006 | Feb 2006 | Enacted | - |
|
FRS 139 |
Financial Instruments: Recognition and Measurement [compiled Jan 2010] | 1 Jan 2010 | Feb 2006 | Enacted | - |
| Amendments to FRS 139 [Improvements to FRSs (2010)] | 1 Jan 2011 | Nov 2010 | Enacted | - | |
|
FRS 140 |
Investment Property [Compiled June 2010] | 1 Jan 2006 | Feb 2006 | Enacted | - |
| IAS 41 | Agriculture | - | Jan 2006 | Exposure Draft issued | - |
| FRS 2012004 | Property Development Activities | 1 Jan 2004 | Feb 2006 | Enacted | - |
| FRS 2042004 | Accounting for Aquaculture | 1 Sep 1998 | Feb 2006 | Enacted | - |
| Glossary of Terms | - | - | - | - |
The numbering of the FRSs corresponds to the IFRSs issued by the IASB. For example, FRS 1 in Malaysia is equivalent to IFRS 1. FRS with a 100 prefix corresponds to its equivalent IASs. Thus FRS 101 is equivalent to IAS 1. FRS with a 200 prefix denotes locally developed Standard with no equivalent International Standard.
| Hence, | FRS 1 = IFRS 1 FRS 101 = IAS 1 FRS 201 = locally developed standard |
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