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Consolidated Financial Statements (MFRS Framework), 2nd Edition

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This book is a comprehensive guide to the preparation of consolidated financial statements in Malaysia. It discusses consolidation financial statements in the context of the Malaysian Financial Reporting Standards Framework (MFRS Framework) issued by the Malaysian Accounting Standards Council (MASB) and that are effective as at 1 January 2018.

The major MFRS discussed are MFRS 3 Business Combinations, MFRS 10 Consolidated Financial Statements, MFRS 11 Joint Arrangements, MFRS 12 Disclosures of Interests in Other Entities, MFRS 127 Separate Financial Statements, and MFRS 128 Investments in Associates and Joint Ventures.

This book is written based on many years of teaching, research and practical experience. It adopts a professional approach and is presented in a step-by-step, easy-to-understand style.

This book will be an invaluable source of reference to both accounting practitioners and students in Malaysia.

Topics Covered:

  • Consolidated balance sheets 

    (also referred to as Consolidated statement of financial position, Consolidated statement of comprehensive income, Consolidated statement of changes in equity,  and Consolidated statement of cash flows)

  • Acquisition and disposal during the accounting year

  • Changes in shareholding interests

  • Complex group structure 

  • Investment in associates 

  • Investment in joint ventures

  • Foreign subsidiaries, associates and joint ventures 

  • Consolidation theory

  • Merger accounting

Ng Eng Juan is the Professor of Accountancy and Head of Accountancy Program in Singapore University of Social Sciences. Prior to that, he lectured in Universiti Kebangsaan Malaysia and in Nanyang Technological University (Singapore), and worked in a Big Four accounting firm in Kuala Lumpur. Prof Ng has been actively involved in the accounting profession, serving in the technical committee of professional accounting bodies, acted as external examiner/advisor to accounting professional/degree programmes, and conducting regular professional development programmes. Prof Ng has also authored several highly-regarded professional accounting books including “Consolidated Accounts”, “Cash Flow Statements”, “Consolidation: Changes in Shareholding Interests”, and “A Practical Guide to Malaysian Financial Reporting Standards”.

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