Compliance with FRS are legislated under Financial Reporting Act 1997 [Section 26D].

StandardTitleEffective DateStatusComparison with previous Standard

FRS 1

Explanatory

First-time Adoption of Financial Reporting Standards1 Jan 2006Enacted-
Amendments to FRS 1 First-time Adoption of Financial Reporting Standards and FRS 127 Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate1 Jan 2010Enacted-
First-time Adoption of Financial Reporting Standards1 July 2010Enacted-
Limited Exemption from Comparative FRS 7 Disclosures for First-time Adopters (Amendment to FRS 1)1 Jan 2011Enacted-

FRS 2

Explanatory

Share-based Payment1 Jan 2006Enacted-
Amendments to FRS2 Share-based Payment Vesting Conditions and Cancellations1 Jan 2010Enacted-
Amendments to FRS 21 July 2010Enacted-

FRS 3

Explanatory

Business Combinations1 Jan 2006EnactedView
Business Combinations

1 July 2010

Enacted-

FRS 4

Explanatory

Insurance Contracts1 Jan 2010
Enacted
-

FRS 5

Explanatory

Non-current Assets Held for Sale and Discontinued Operations1 Jan 2006EnactedView
Amendment to FRS5

1 Jan 2010Enacted-
Amendments to FRS5

1 July 2010Enacted-

FRS 6

Explanatory

Exploration for and Evaluation of Mineral Resources1 Jan 2007Enacted-

FRS 7

Explanatory

Financial Instruments: Disclosures1 Jan 2010Enacted
-
Amendments to FRS 139 Financial Instruments: Recognition and Measurement, FRS 7 Financial Instruments: Disclosures and IC Interpretation 9 Reassessment of Embedded Derivatives1 Jan 2010Enacted
-
Improving Disclosures about Financial Instruments (Amendments to FRS 7)1 Jan 2011Enacted
-

FRS 8

Explanatory

Operating Segments1 July 2009Enacted
-
Amendment to FRS81 Jan 2010Enacted
-

FRS 101

Explanatory

Presentation of Financial Statements1 Jan 2006EnactedView
Presentation of Financial Statements1 Jan 2010Enacted-

FRS 102

Explanatory

Inventories1 Jan 2006EnactedView

FRS 107

Explanatory

Statement of Cash Flows (Formerly known as Cash Flow Statements )
1 July 2007Enacted-

FRS 108

Explanatory  

Accounting Policies, Changes in Accounting Estimates and Errors1 Jan 2006EnactedView
Amendment to FRS 1081 Jan 2010Enacted-

FRS 110

Explanatory 

Events After the Balance Sheet Date1 Jan 2006EnactedView
FRS 111Construction Contracts 1 July 2007Enacted-
FRS 112Income Taxes 1 July 2007Enacted-
FRS 1142004Segment Reporting1 Jan 2002Enacted-

FRS 116

Explanatory 

Property, Plant and Equipment1 Jan 2006EnactedView

FRS 117

Explanatory 

Leases1 Oct 2006EnactedView
Amendment to FRS 1171 Jan 2010Enacted-

FRS 118

Explanatory

Revenue 1 July 2007Enacted-

FRS 119

Explanatory

Employee Benefits 1 Jan 2003Enacted-
Amendment to FRS 119 1 Jan 2010Enacted-

FRS 120

Explanatory  

Accounting for Government Grants and Disclosure of Government Assistance 1 July 2007Enacted-
Amendment to FRS 120 1 Jan 2010Enacted-

FRS 121

Explanatory

The Effects of Changes in Foreign Exchange Rates1 Jan 2006EnactedView
Amendment to Financial Reporting Standard FRS 121 The Effects of Changes in Foreign Exchange Rates - Net Investment in a Foreign Operation1 July 2007Enacted-
FRS 1232004Borrowing Costs1 July 2002Enacted-

FRS 123

Explanatory   

Borrowing Costs1 Jan 2010
Enacted-
Amendment to FRS 1231 Jan 2010
Enacted-

FRS 124

Explanatory 

Related Party Disclosures

Addendum to FRS124

1 Oct 2006EnactedView
FRS 126Accounting and Reporting by Retirement Benefit Plans 1 Jan 2003Enacted-

FRS 127

Explanatory

Consolidated and Separate Financial Statements1 Jan 2006EnactedView
Amendments to FRS 1 First-time Adoption of Financial Reporting Standards and FRS 127 Consolidated and Separate Financial Statements: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate1 Jan 2010Enacted-
Amendment to FRS 1271 Jan 2010Enacted-
Consolidated and Separate Financial Statements1 July 2010Enacted-

FRS 128

Explanatory

Investments in Associates1 Jan 2006EnactedView
Amendment to FRS 1281 Jan 2010Enacted-

FRS 129

Explanatory

Financial Reporting in Hyperinflationary Economies1 Jan 2003Enacted-
Amendment to FRS 1291 Jan 2010
Enacted-

FRS 131

Explanatory

Interests in Joint Ventures1 Jan 2006EnactedView
Amendment to FRS 1311 Jan 2010 Enacted-

FRS 132

Explanatory

Financial Instruments: Disclosure and Presentation (FRS 132 will be renamed as Financial Instruments: Presentation on adoption of FRS 7 Financial Instruments: Disclosures)1 Jan 2006EnactedView
Amendments to FRS 132 Financial Instruments: Presentation1 Jan 2010 Enacted-
Amendments to FRS 132 Financial Instruments: Presentation1 Jan 2010/ 1 Mar 2010Enacted-

FRS 133

Explanatory

Earnings Per Share1 Jan 2006EnactedView
FRS 134Interim Financial Reporting 1 July 2007Enacted-
Amendment to FRS 134 1 Jan 2010Enacted-

FRS 136

Explanatory

Impairment of Assets1 Jan 2006EnactedView
FRS 137Provisions, Contingent Liabilities and Contingent Assets 1 July 2007Enacted-

FRS 138

Explanatory

Intangible Assets

Addendum to FRS 138

1 Jan 2006Enacted-
Amendment to FRS 1381 Jan 2010Enacted-
Amendments to FRS 1381 July 2010Enacted-

FRS 139

Explanatory

Financial Instruments: Recognition and Measurement1 Jan 2010Enacted-

FRS 140

Explanatory

Investment Property1 Jan 2006Enacted-
Amendment to FRS 1401 Jan 2010Enacted-
IAS 41Agriculture-Exposure Draft issued-
FRS i-12004Presentation of Financial Statements of Islamic Financial Institutions (shall be withdrawn for application for financial statements with annual periods beginning on or after 1 January 2010)1 Jan 2003Enacted-
FRS 2012004Property Development Activities1 Jan 2004Enacted-
FRS 2022004General Insurance Business1 July 2001Enacted-
FRS 2032004Life Insurance Business1 July 2001Enacted-
FRS 2042004Accounting for Aquaculture1 Sept 1998Enacted-

The numbering of the FRSs corresponds to the IFRSs issued by the IASB. For example, FRS 1 in Malaysia is equivalent to IFRS 1. FRS with a 100 prefix corresponds to its equivalent IASs. Thus FRS 101 is equivalent to IAS 1. FRS with a 200 prefix denotes locally developed Standard with no equivalent International Standard.

 

Hence,FRS 1 = IFRS 1
FRS 101 = IAS 1
FRS 201 = locally developed standard

 


 

 

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