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Working Group

The Malaysian Accounting Standards Board (MASB) has established 70 Working Groups to date, each is responsible for different projects. A Working Group is chaired by a member of the MASB and comprises a project manager, representatives from the accounting profession, commerce, academia as well as regulatory authorities.

The Working Group plays an important role in the standards-setting due process. Against this backdrop, it is formed by the MASB to debate on emerging issues of significance to the accounting profession. The Working Group is responsible for reviewing and undertaking detailed studies of assigned project, giving due regard to the statutory and regulatory reporting requirements, practical implications as well as practices in other major jurisdictions.

Participation in MASB working group meetings and other committees of MASB or eligible events organised by MASB will entitle you to earn 2 credit hours of MIA CPE. As part of MIA Continuing Professional Education, MIA will consider awarding a member of MASB working committees a maximum of 2 CPE hours for attending each meeting, or any MIA member who attends MIA recognised events organised by MASB. However, a member will only be allowed to accumulate a maximum of 10 credit hours for each 3 year cycle.

WG

Title
WG 1

Foreword to MASB Standards & Other Technical Pronouncements; Exempt Enterprises; Framework for the Preparation and Presentation of Financial Statements

WG 2 

Presentation of Financial Statements

WG 3

Inventories

WG 4

Depreciation Accounting

WG 5

Cash Flow Statements

WG 6

Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies

WG 7

Research and Development Costs

WG 8

Events After the Balance Sheet Date; Provisions, Contingent Liabilities and Contingent Assets

WG 9

Construction Contracts

WG 10

Income Taxes

WG 10(R)

Income Taxes

WG 11

Segment Reporting

WG 12

Property, Plant and Equipment

WG 13

Leases

WG 14

Revenue

WG 15(R)

Employee Benefits

WG 16

The Effects of Changes in Foreign Exchange Rates

WG 17

Borrowing Costs

WG 18

Related Party Disclosures

WG 19

Investment Property

WG 20

Accounting and Reporting by Retirement Benefit Plans

WG 21

Consolidated Financial Statements and Investments in Subsidiaries

WG 22

Investments in Associates

WG 23

Financial Reporting of Interests in Joint Ventures

WG 24

Financial Instruments: Disclosure and Presentation

WG 25

Earnings per Share

WG 26

Business Combinations

WG 27

General Insurance Business

WG 28

Life Insurance Business

WG 29

Agriculture

WG 30

Goodwill and Intangible Assets

WG 31 Property Development Activities
WG 32

Disclosures in the Financial Statements of Banks and Similar Financial Institutions

WG 33

Financial Reporting by Unit Trust

WG 35

Share Buybacks - Accounting and Disclosures

WG 36

Islamic Financial Reporting

WG 38

The Year 2000 Issue: Accounting and Disclosures

WG 39

Interim Financial Reporting

WG 40

Discontinuing Operations

WG 41

Impairment of Assets

WG 43

Financial Reporting Needs of Developing Countries/Economies in Transition

WG 44

Financial Instruments: Recognition and Measurement

WG 45

Translation of MASB Standards into Bahasa Melayu version

WG 46

Harmonisation of Companies Act 1965 with MASB Standards

WG 47

Accounting for Extractive Industries

WG 48

Accounting for Government Grants and Disclosure of Government Assistance

WG 49

Share-based Payment

WG 50

Business Combinations and Goodwill

WG 51

Improvements Project

WG 52

Insurance Contracts

WG 53

Financial Statement Presentation (formerly known as Performance Reporting)

WG 54

Financial Reporting by Small and Medium Entities (SMEs)

WG 55

Disposal of Non-Current Assets and Presentation of Discontinued Operations

WG 56

Non-Financial Liabilities

WG 57

Financial Instruments: Disclosures

WG 58

Management Commentary

WG 59

Operating Segments

WG 60

Financial Instruments: Recognition and Measurement

WG 61

Fair Value Measurement

WG 62

Borrowing Costs

WG 63

Consolidation

WG 64

Joint Arrangements

WG 65

Earnings per Share

WG 66 Revenue Recognition
WG 67

Leases

WG 68

Rate-regulated Activities

WG 69

Valuation

WG 70

Disclosure Initiative