BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The corporate financial reporting practices of Malaysia are primarily governed by the Companies Act 1965 (now, Companies Act 2016), the Securities Commission Act 1993, the Kuala Lumpur Stock Exchange (KLSE) Listing Requirements and the Companies Commission of Malaysia.

Detailed explanation-2: -The Malaysian Financial Reporting Standards (MFRS) framework which came into effect from 1 January 2012, is an IFRS-compliant framework that enhances the quality, credibility and transparency of your financial information.

Detailed explanation-3: -The Financial Reporting Act 1997 prescribes that all financial statements that are prepared or lodged under any law administered by the Securities Commission Malaysia, Bank Negara Malaysia or the Registrar of Companies shall comply with the MASB approved accounting standards.

Detailed explanation-4: -By 2012, all approved accounting standards applicable to entities other than private entities will converge fully with IFRS. This convergence plan will not affect private entities that are currently applying the Private Entity Reporting Standards (PERS).