BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The MFRS Framework comprises standards as issued by the International Accounting Standards Board (IASB) and allows Malaysian entities to assert full compliance with IFRS.

Detailed explanation-2: -Malaysian Financial Reporting Standards (MFRS) framework was introduced by the Malaysian Accounting Standards Board (MASB) which enhances the credibility and transparency of financial reporting in Malaysia. Malaysian Accounting Standards Board (MASB) is the accounting standard setter authority in Malaysia.

Detailed explanation-3: -The MASB’s primary role is to develop accounting and financial reporting standards. It is the MASB’s operating procedure that generally precludes the MASB or its staff from giving advice to any individuals or corporations or to individual cases nor to act as an arbitrator regarding any issue.

Detailed explanation-4: -In accounting we can communicate only those business transactions and other events which can be expressed in monetary units. This is called monetary unit assumption. Non monetary events like death, dispute etc.