logo
IC Interpretations (FRS Framework)

The IC Interpretations contained herein are issued as part of MASB's convergence effort to align its standards to those International Financial Reporting Standards (IFRSs). They are identical with the Interpretations issued by the Standing Interpretation Committee (SIC) of the International Accounting Standards Committee (IASC), the predecessor of International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee (IFRIC) of the IASB.

Interpretation [Int.] Title Effective Date Issuance Date Status
  Preface Amendments to Preface to IC Interpretations - - Enacted

IC Int. 1

Explanatory

Changes in Existing Decommissioning, Restoration & Similar Liabilities 1 Jul 2007 Feb 2007 Enacted

IC Int. 2

Explanatory

Members' Shares in Co-operative Entities & Similar Instruments 1 Jul 07 Feb 2007 Enacted
Amendment to IC Int. 2 [Improvements to FRSs (2012)] 1 Jan 2013 31 Jul12 Enacted

IC Int. 4

Explanatory

Determining Whether an Arrangement contains a Lease 1 Jan 2011 Jul 2010 Enacted

IC Int. 5

Explanatory

Rights to Interests arising from Decommissioning, Restoration & Environmental Rehabilitation Funds 1 Jul 2007 Feb 2007 Enacted

IC Int. 6

Explanatory

Liabilities arising from Participating in a Specific Market - Waste Electrical & Electronic Equipment 1 Jul 2007 Feb 2007 Enacted

IC Int. 7

Explanatory

Applying the Restatement Approach under FRS 1292004 Financial Reporting in Hyperinflationary Economies 1 Jul 2007 Feb 2007 Enacted

IC Int. 9

Explanatory

Reassessment of Embedded Derivatives [Will be superseded on the application of FRS 9 (IFRS 9 as issued by IASB in July 2014)] 1 Jan 2010 Nov 2008 Enacted
Amendments to IC Interpretation 9 Reassessment of Embedded Derivatives [Will be superseded on the application of FRS 9 (IFRS 9 as issued by IASB in July 2014)] 1 Jul 2010 Jan 2010 Enacted

IC Int. 10

Explanatory

Interim Financial Reporting and Impairment 1 Jan 2010 Nov 2008 Enacted

IC Int. 12

Explanatory

Service Concession Arrangements 1 Jul 2010 Jan 2010 Enacted

IC Int. 13

Explanatory

Customer Loyalty Programmes 1 Jan 2010 May 2009 Enacted
Amendments to IC Interpretation 13 [Improvements to FRSs (2010)] 1 Jan 2011 Nov 2010 Enacted

IC Int. 14

Explanatory

The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction 1 Jan 2010 May 2009 Enacted
Prepayments of a Minimum Funding Requirement (Amendments to IC Interpretation 14) 1 Jul 2011 Nov 2010 Enacted

IC Int. 16

Explanatory

Hedges of a Net Investment in a Foreign Operation 1 Jul 2010 Jan 2010 Enacted

IC Int. 17

Explanatory

Distributions of Non-cash Assets to Owners 1 Jul 2010 Jan 2010 Enacted

IC Int. 18

Explanatory

Transfers of Assets from Customers 1 Jan 2011 Jul 2010 Enacted

IC Int. 19

Explanatory

Extinguishing Financial Liabilities with Equity Instruments 1 Jul 2011 Nov 2010 Enacted

IC Int. 20

Explanatory

Stripping Costs in the Production Phase of a Surface Mine 1 Jan 2013 Nov 2011 Enacted

IC Int. 21

Explanatory

Levies 1 Jan 2014 Sep 2013 Enacted

IC Int. 22

Explanatory

Foreign Currency Transactions and Advance Consideration [See Notice of Issuance dated 29 Dec 2016] Dec 2016 Enacted

IC Int. 23

Explanatory

Uncertainty over Income Tax Treatments 1 Jan 2019 15 Aug 2017 Enacted
IC Int. 107 Introduction to the Euro 1 Jan 2006 Feb 2006 Enacted
IC Int. 110 Government Assistance - No Specific Relation to Operating Activities 1 Jan 2006 Feb 2006 Enacted
IC Int. 115 Operating Leases - Incentives 1 Jan 2006 Feb 2006 Enacted
IC Int. 125 Income Taxes - Changes in the Tax Status of an Entity or its Shareholders 1 Jan 2006 Feb 2006 Enacted
IC Int. 127 Evaluating the Substance of Transactions Involving the Legal Form of a Lease 1 Jan 2006 Feb 2006 Enacted
IC Int. 129 Disclosure - Service Concession Arrangements 1 Jan 2006 Feb 2006 Enacted
IC Int. 131 Revenue - Barter Transactions Involving Advertising Services 1 Jan 2006 Feb 2006 Enacted
IC Int. 132 Intangible Assets - Web Site Costs 1 Jan 2006 Feb 2006 Enacted
IC Int. 201 Preliminary and Pre-operating Expenditure 1 Jan 2001 Feb 2006 Enacted

 

The numbering of the IC Interpretation corresponds to the Interpretation issued by the IFRIC and SIC respectively. For example, IC Interpretation 1 in Malaysia is equivalent to IFRIC Interpretation 1. IC Interpretation with a 100 prefix corresponds to its equivalent SIC-Interpretation. Thus, IC Interpretation 112 is equivalent to SIC-12. IC Interpretation with a 200 prefix denotes locally developed interpretation with no equivalent international interpretation. In this regard, the existing Interpretation Bulletin I Preliminary and Pre-operating Expenditure is renamed as IC Interpretation 201.

Hence, IC Interpretation 1 = IFRIC Interpretation 1
IC Interpretation 112 = SIC-12
IC Interpretation 201 = locally developed interpretation