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TITLE: IFRIC Agenda Decision - Over Time Transfer of Constructed Good (IAS 23 Borrowing Costs) - March 2019

DATE: 10/04/2019

10 April 2019
Circular No. 41/2019

TO ALL ACCOUNTANTS

IFRIC AGENDA DECISION – OVER TIME TRANSFER OF CONSTRUCTED GOOD (IAS 23 BORROWING COSTS) - MARCH 2019

On 20 March 2019, the IFRS Interpretations Committee (IFRIC) issued Agenda Decision - Over Time Transfer of Constructed Good (IAS 23 Borrowing Costs).

The Malaysian Accounting Standard Board (MASB) observed that non-private entities in the real estate industry might need to change their accounting policy as a result of the agenda decision and ensuring consistent application of the Malaysian Financial Reporting Standards, which are word-for-word the IFRS Standards. The MASB has decided that an entity shall apply the change in accounting policy as a result of the Agenda Decision on IAS 23 Borrowing Costs to financial statements of annual periods beginning on or after 1 July 2020.

For further information, kindly visit: http://www.masb.org.my/press_list.php?id=305

Please be guided accordingly.

DR. NURMAZILAH DATO' MAHZAN
Chief Executive Officer