BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -First documented financial reporting regulations were Companies Ordinances (and amendments) of 1940, 1946 and 1956 before Malaysia achieved her independence on 31 August 1957.

Detailed explanation-2: -However, the first documented financial reporting regulation were those of the Companies Ordinance (and amendments) of 1940, 1946 and 1956. As a part of Act’s requirement, development of accounting also depend on the advancement of profession.

Detailed explanation-3: -The MASB, together with the FRF make up the frameworks for financial reporting in Malaysia. This framework comprises an independent standard-setting structure with representation from all relevant parties in the standard-setting process, including preparers, users, regulators and the accountancy profession.

Detailed explanation-4: -The amendments clarified how an entity classifies debt and other financial liabilities as current or non-current in particular circumstances. The amendments are effective for annual reporting periods beginning on or after 1 January 2023, with earlier application permitted.