Annual Report 2011 - The Malaysian Institute Of Certified Public ...

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President’s StatementTechnical Pronouncements41Technical Pronouncements May 2012AApproved Accounting Standards and GuidelinesStatement of Approved Accounting Standards (issued 1988)(a)MASB Approved Accounting Standards for Entities Other than Private EntitiesForeword to MASB Standards and Other Technical Pronouncements(Revised)The Conceptual Framework for Financial ReportingFrameworkSupersededFramework for thePreparation andPresentation of FinancialStatementsMASBOperationalDateJul. 1, 1999Nov. 19, 2011Framework for the Preparation and Presentation of Financial Statements Jul. 1, 2007(i)Malaysian Financial Reporting Standards (MFRS) FrameworkMalaysian Financial Reporting Standards (MFRSs)*ExtantAccountingStandardsSupersededMASBOperationalDateMFRS 1 First-time Adoption of Malaysian Financial Reporting Standards Jan. 1, 2012Government Loans (Amendments to MFRS 1) Jan. 1, 2013MFRS 2 Share-based Payment Jan. 1, 2012MFRS 3 Business Combinations Jan. 1, 2012MFRS 4 Insurance Contracts Jan. 1, 2012MFRS 5 Non-current Assets Held for Sale and Discontinued Operations Jan. 1, 2012MFRS 6 Exploration for and Evaluation of Mineral Resources Jan. 1, 2012MFRS 7 Financial Instruments: Disclosures Jan. 1, 2012Mandatory Effective Date of MFRS 9 and Transition Disclosures(Amendments to MFRS 9 (IFRS 9 issued by IASB in Nov. 2009),MFRS 9 (IFRS 9 issued by IASB in Oct. 2010) and MFRS 7)Mar. 1, 2012Disclosures – Offsetting Financial Assets and Financial Liabilities(Amendments to MFRS 7)Jan. 1, 2013MFRS 8 Operating Segments Jan. 1, 2012MFRS 9 Financial Instruments (IFRS 9 issued by IASB in Nov. 2009) Jan. 1, 2015Financial Instruments (IFRS 9 issued by IASB in Oct. 2010) IC Int. 9 Jan. 1, 2015Mandatory Effective Date of MFRS 9 and Transition Disclosures(Amendments to MFRS 9 (IFRS 9 issued by IASB in Nov. 2009),MFRS 9 (IFRS 9 issued by IASB in Oct. 2010) and MFRS 7)Mar. 1, 2012
42Technical PronouncementsPresident’s StatementExtantAccountingStandardsSupersededMASBOperationalDateMFRS 10 Consolidated Financial Statements MFRS 127 Jan. 1, 2013MFRS 11 Joint Arrangements MFRS 131& IC Int. 112Jan. 1, 2013MFRS 12 Disclosure of Interests in Other Entities IC Int. 112 Jan. 1, 2013MFRS 13 Fair Value Measurement Jan. 1, 2013MFRS 101 Presentation of Financial Statements Jan. 1, 2012Presentation of Items of Other Comprehensive Income(Amendments to MFRS 101)Jul. 1, 2012MFRS 102 Inventories Jan. 1, 2012MFRS 107 Statement of Cash Flows Jan. 1, 2012MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors Jan. 1, 2012MFRS 110 Events After the Reporting Period Jan. 1, 2012MFRS 111 Construction Contracts Jan. 1, 2012MFRS 112 Income Taxes Jan. 1, 2012MFRS 116 Property, Plant and Equipment Jan. 1, 2012MFRS 117 Leases Jan. 1, 2012MFRS 118 Revenue Jan. 1, 2012MFRS 119Employee Benefits[will be superseded by MFRS 119, Employee Benefits (IAS 19 asamended by IASB in June 2011), with effect from Jan. 1, 2013]Jan. 1, 2012MFRS 120Employee Benefits (IAS 19 as amended by IASB in Jun. 2011) MFRS 119 Jan. 1, 2013Accounting for Government Grants and Disclosure of GovernmentAssistanceJan. 1, 2012MFRS 121 The Effects of Changes in Foreign Exchange Rates Jan. 1, 2012MFRS 123 Borrowing Costs Jan. 1, 2012MFRS 124 Related Party Disclosures Jan. 1, 2012MFRS 126 Accounting and Reporting by Retirement Benefit Plans Jan. 1, 2012MFRS 127Consolidated and Separate Financial Statements[will be superseded by MFRS 127, Separate Financial Statements(IAS 27 as amended by IASB in May 2011), and MFRS 10,Consolidated Financial Statements, with effect from Jan. 1, 2013]Jan. 1, 2012Separate Financial Statements (IAS 27 as amended by IASB in May 2011) MFRS 127 Jan. 1, 2013MFRS 128Investments in Associates[will be superseded by MFRS 128, Investments in Associates and Joint Ventures(IAS 28 as amended by IASB in May 2011), with effect from Jan. 1, 2013]Investments in Associates and Joint Ventures (IAS 28 as amended byIASB in May 2011)Jan. 1, 2012MFRS 128 Jan. 1, 2013MFRS 129 Financial Reporting in Hyperinflationary Economies Jan. 1, 2012
Page 1 and 2: PROGRESS THROUGH PARTNERSHIPSAnnual
Page 3 and 4: 02notice of 54th AGMnotice of annua
Page 5 and 6: 04objects, vision and missionobject
Page 7 and 8: 06MICPA Council 2011 / 2012MICPA Co
Page 9 and 10: 08committees 2011 / 2012Co-opted Me
Page 11 and 12: 10committees 2011 / 2012Disciplinar
Page 13 and 14: 12committees 2011 / 2012Financial S
Page 15 and 16: 14committees 2011 / 2012Membership
Page 17 and 18: 16committees 2011 / 2012Tax Practic
Page 19 and 20: 18President’s StatementTalent is
Page 21 and 22: 20President’s StatementfinanceThe
Page 23 and 24: 22President’s Statement39%CPA Mem
Page 25 and 26: 24President’s Statementprovisiona
Page 27 and 28: 26President’s Statementadvocating
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