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Impact of the New Malaysian Financial Reporting Standards to the Financial Statements of Borrowers
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Impact of the New Malaysian Financial Reporting Standards to the Financial Statements of Borrowers
  • Overview
  • Objectives & Outline
  • Methodology
  • Participant Profile
  • Trainer
  • Overview
    PROGRAMME DETAILS

    DATE

    18 July 2019

    TIME

    9:00 AM – 5:00 PM

    VENUE

    Asian Banking School
    8
    AICB
    CPD HOURS

    One of the hot topics in town which will have financial implications to all businesses is the new accounting rules on how revenue, financial instruments and leases are to be recognised. These changes came into effect from 1 January 2018 onwards and corporations (e.g. PLCs and their group of companies) are required to reflect them into their 2018 financial year financial statements issued in 2019.

    Reading and understanding these changes and its implications are important to users/stakeholders of the financial statements. This include the banks’ credit officers/team who looks at their borrowers’ financial statements to assess lending decisions or monitor their performance/repayment capabilities. This programme will explain the changes made to the new Malaysian Financial Reporting Standards (MFRS) and its impact on the financial statements of borrowers.

    LEARNING LEVEL
    Foundation
    PROGRAMME FEE

    AICB MEMBER

    MYR

    2,300*

    / PAX

    NON-MEMBER

    MYR

    2,600*

    / PAX

    *Subject to 6% Service Tax

  • Objectives & Outline
    LEARNING OBJECTIVES
    By the end of the programme, participants will be able to:


    • Understand the impact on their borrowers’ financial statements from:
      • new revenue, financial instruments and lease standards (by industries)
      • transition to the new MFRS framework (for property developers and agriculture industries only)
      • Illustrative disclosures of the financial impacts of these new standards from selected PLCs quarterly announcements
    •  Impact of different accounting policies on profits
    • Appreciating potential red flags, irregularities, types of audit opinion and key audit matters (KAM) identified from borrowers’ financial statements


    PROGRAMME OUTLINE

    • Introduction to financial reporting frameworks in Malaysia and key differences – Malaysian Financial Reporting Standards (MFRS) vs Malaysian Private Entity Reporting Standards (MPERS)

    • Impact of the new MFRS on borrowers’ financial statements by industries (including illustrative financial impact from selected PLCs quarterly announcements) and how lending ratios may potentially be affected
      • Revenue
      • Financial instruments
      • Leases
      • Transition to new MFRS framework (for property developers and agriculture industries only)

    • Differentiating profits from cash and effects of different accounting policies on profits

    • Insights on red flags, irregularities, types of audit opinions and key audit matters (KAM) identified from borrowers’ financial statements in different industries

  • Methodology

    An interactive approach in sharing of experience and knowledge, placing emphasis on discussions. Participants will also have the opportunity to work on practical exercises.

  • Participant Profile
    Credit Officers / Relationship Managers / Credit Analysts / Credit Risk Managers
    Basic knowledge of reading financial statements prepared under MFRSs is recommended
  • Trainer

    Yanti Abd Rahman

    Yanti Abd Rahman is a Technical Trainer with the Assurance Services division of PricewaterhouseCoopers, Malaysia. She graduated from the University of Wales, College of Cardiff, United Kingdom with an Honours degree in Accounting. She is a member of the Malaysian Institute of Accountants (MIA) and the Association of Chartered Certified Accountants (ACCA). Prior to joining the technical training team, she was in the Assurance line with over 9 years of experience in providing audit and advisory services to corporate clients predominantly in automotive, engineering and construction, applied research, toll operators, plantations, manufacturing and trading. She currently plays a key role in developing and instructing internal and external IFRS, MFRS, MPERS and MPSAS programmes.

    Yee Chai Yun

    Yee Chai Yun is a Technical Trainer in the Assurance Services division of PricewaterhouseCoopers, Malaysia. She began her career in assurance and was involved in a range of audit assignments in sectors that included banking, insurance, manufacturing, trading, shipping, property development and construction. Her passion for training prompted her to join the firm’s Learning and Development Unit in 2000. In 2004, she joined the Assurance Technical department, which provides technical support to the assurance teams, especially on MFRS. She is consulted on difficult financial reporting issues, particularly in her areas of expertise - business combinations and impairment. She is also involved in quality reviews of financial statements. In addition, she plays a key role in the development and instructing of the firm’s internal and external MFRS courses. Chai Yun graduated from University of Malaya with an Honours degree in Accounting, and is a member of the MIA and MICPA


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