Malaysian Financial Reporting Standards (MFRSs)


The MFRSs listed in the table are official pronouncements issued by the MASB. MFRSs are issued by the MASB in respect of its application in Malaysia.

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The text of the MFRSs include MFRSs as approved by the MASB for issue up to 30 April 2018 and as required to be applied for annual periods beginning before or on 1 January 2020. Further explanation is available in the “Introduction” section of the 2018 MFRS Bound Volume that was published in May 2018.

The date shown in the “Issue Date” column refers to the date the Standard was first issued.

The “Amendments from other Standards” column contains consequential amendments to a Standard that are a consequence of another Standard or amendments to another Standard with an effective date after 1 January 2020 or issued after 30 April 2018.

The “Explanatory” column contains documents which accompanies the respective Standards but are not part of these Standards. They are IASB 2018 edition of documents accompanying IFRS Standards and Agenda Decisions issued by the IFRS Interpretations Committee (see explanation at the end of the MFRSs table)(1).

Please select the Glossary for Malaysian Financial Reporting Standards for definitions of key words used in the Standards which can be viewed for information purposes only. Please select the MFRS Glossary in Bahasa Malaysia for translations of Glossary for Malaysian Financial Reporting Standards and additional terms from MFRSs, the Basis for Conclusions, Illustrative Examples and Implementation Guidance.

These Standards contain materials in which the IFRS Foundation holds copyright and which have been reproduced in these Standards with the permission of the IFRS Foundation. Copyright in the International Financial Reporting Standards (including International Accounting Standards and SIC and IFRIC Interpretations), International Accounting Standards Board (IASB) Exposure Drafts, and other IASB publications belong to the IFRS Foundation.

All rights are reserved. No part of these Standards may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing to MASB or as may be expressly permitted by law or under terms agreed with the appropriate reprographics rights organisation. No part of the materials incorporated in these Standards, the copyright of which is held by the IFRS Foundation, may be reproduced, stored in a retrieval system or transmitted in any form or by any means without the prior permission in writing to the IFRS Foundation or as may be expressly permitted by law or under terms agreed with the appropriate reprographics rights organisation.

The numbering of the MFRS corresponds with the equivalent IFRS Standard issued by the IASB. MFRS prefix with “1xx” corresponds with the equivalent IAS. 

 

Standard Title Applicable for annual periods beginning on or after: Issue Date Status Amendments from other Standards (effective after 1 January 2020) Explanatory
MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

BC

IG

  Annual Improvements to MFRS Standards 2018–2020 1 Jan 2022

5 June 2020

Enacted

-

Amendment to BC

MFRS 2 Share-based Payment 1 Jan 2012

19 Nov 2011

Enacted

-

BC

IG

Amendments to IG

MFRS 3 Business Combinations 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

Amendments to MFRS 17

BC

IE

  Definition of a Business (Amendments to MFRS 3) 1 Jan 2020

14 Dec 2018

Enacted

-

Amendments to BC

Amendments to IE 

  Reference to the Conceptual Framework (Amendments to MFRS 3 Business Combinations)  1 Jan 2022

5 June 2020

Enacted

-

Amendments to BC

MFRS 4

Insurance Contracts

[will be superseded by MFRS 17 for periods beginning on or after 1 January 2023]

1 Jan 2012

19 Nov 2011

Enacted -

 

BC

IG

Amendments to IG

 

Extension of the Temporary Exemption from Applying MFRS 9 (Amendments to MFRS 4 Insurance Contracts) 

Effective immediately

17 Aug 2020

Enacted -

Amendments to BC

 

Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16) 

1 Jan 2021

30 Sept 2020

Enacted -

Amendments to BC

MFRS 5  Non-current Assets Held for Sale and Discontinued Operations 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

BC

IG

MFRS 6 Exploration for and Evaluation of Mineral Resources 1 Jan 2012

19 Nov 2011

Enacted -

BC

MFRS 7 Financial Instruments: Disclosures 1 Jan 2012

19 Nov 2011

Enacted

 MFRS 17

Amendments to MFRS 17

BC

IG

  Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 Jan 2020

31 Oct 2019

Enacted

-

Amendments to BC
  Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16)  1 Jan 2021

30 Sept 2020

Enacted

-

Amendments to BC
MFRS 8 Operating Segments 1 Jan 2012

19 Nov 2011

Enacted -

BC

IG

MFRS 9 Financial Instruments (IFRS 9 as issued by IASB in July 2014) 1 Jan 2018

17 Nov 2014

Enacted

MFRS 17

Amendments to MFRS 17

BC

IG

IE

  Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 Jan 2020

31 Oct 2019

Enacted

-

 

Amendments to BC

  Annual Improvements to MFRS Standards 2018–2020 1 Jan 2022

5 June 2020

Enacted

-

Amendment to BC

  Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16)  1 Jan 2021

30 Sept 2020

Enacted

-

Amendments to BC

MFRS 10

Consolidated Financial Statements

1 Jan 2013

19 Nov 2011

Enacted -

BC

IE

 

Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to MFRS 10 and MFRS 128) 

Deferred

17 Nov 2014

31 Dec 2015

Enacted -  
MFRS 11 Joint Arrangements 1 Jan 2013

19 Nov 2011

Enacted -

BC

IE

MFRS 12 Disclosure of Interests in Other Entities 1 Jan 2013

19 Nov 2011

Enacted -

BC

MFRS 13 Fair Value Measurement 1 Jan 2013

19 Nov 2011

Enacted

 

-

BC

IE

MFRS 14 Regulatory Deferral Accounts 1 Jan 2016

11 July 2014

Enacted -

BC

IE

MFRS 15 Revenue from Contracts with Customers 1 Jan 2018

2 Sept 2014

Enacted

MFRS 17

BC

IE

MFRS 16 Leases 1 Jan 2019

15 Apr 2016

Enacted -

BC

IE

  Covid-19-Related Rent Concessions (Amendment to MFRS 16 Leases)  1 June 2020

5 June 2020

Enacted -

Amendment to BC

  Annual Improvements to MFRS Standards 2018–2020 -

5 June 2020

Enacted -

Amendment to BC

Amendment to IE

  Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16)  1 Jan 2021

30 Sept 2020

Enacted -

Amendments to BC

MFRS 17

Insurance Contracts

1 Jan 2023

15 Aug 2017

 Enacted

BC

Amendments to BC

IE

 

Amendments to MFRS 17 Insurance Contracts

1 Jan 2023

17 Aug 2020

Enacted -

Amendments to BC

Amendments to IE

MFRS 101 Presentation of Financial Statements 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

Amendments to MFRS 17

BC

IG

  Definition of Material (Amendments to MFRS 101) 1 Jan 2020

14 Dec 2018

Enacted

-

Amendments to BC

  Classification of Liabilities as Current or Non-current (Amendments to MFRS 101)  1 Jan 2023

16 Mar 2020

Enacted

-

Amendments to BC

  Classification of Liabilities as Current or Non-current—Deferral of Effective Date Effective immediately

17 Aug 2020

Enacted

-

Amendment to BC

MFRS 102 Inventories 1 Jan 2012

19 Nov 2011

Enacted -

 

BC

MFRS 107 Statement of Cash Flows 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

BC

IE

MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors 1 Jan 2012

19 Nov 2011

Enacted -

BC

IG

  Definition of Material (Amendments to MFRS 108) 1 Jan 2020

14 Dec 2018

Enacted -

Amendments to BC

MFRS 110 Events after the Reporting Period 1 Jan 2012

19 Nov 2011

Enacted Definition of Material

BC

MFRS 111

Construction Contracts

[superseded by MFRS 15 for periods beginning on or after 1 January 2018]

1 Jan 2012

19 Nov 2011

Enacted -

 

IE

MFRS 112 Income Taxes 1 Jan 2012

19 Nov 2011

Enacted

 

-

BC

IE

MFRS 116 Property, Plant and Equipment 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

BC

  Property, Plant and Equipment—Proceeds before Intended Use (Amendments to MFRS 116 Property, Plant and Equipment)  1 Jan 2022

5 June 2020

Enacted

-

Amendment to BC

MFRS 117

Leases

[superseded by MFRS 16 for periods beginning on or after 1 January 2019]

1 Jan 2012

19 Nov 2011

Enacted -

BC

IG

MFRS 118

Revenue

[superseded by MFRS 15 for periods beginning on or after 1 January 2018]

1 Jan 2012

19 Nov 2011

Enacted -

IE

MFRS 119 Employee Benefits 1 Jan 2013

19 Nov 2011

Enacted MFRS 17

BC

MFRS 120 Accounting for Government Grants and Disclosure of Government Assistance 1 Jan 2012

19 Nov 2011

Enacted -

BC

MFRS 121 The Effects of Changes in Foreign Exchange Rates 1 Jan 2012

19 Nov 2011

Enacted

 

-

BC

MFRS 123 Borrowing Costs 1 Jan 2012

19 Nov 2011

Enacted -

BC

MFRS 124 Related Party Disclosures 1 Jan 2012

19 Nov 2011

Enacted -

BC

IE

MFRS 126 Accounting and Reporting by Retirement Benefit Plans 1 Jan 2012

19 Nov 2011

Enacted -
MFRS 127 Separate Financial Statements 1 Jan 2013

19 Nov 2011

Enacted -

BC

MFRS 128 Investments in Associates and Joint Ventures 1 Jan 2013

19 Nov 2011

Enacted

MFRS 17

BC

 

Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to MFRS 10 and MFRS 128) 

Deferred

17 Nov 2014

31 Dec 2015

Enacted -  
MFRS 129 Financial Reporting in Hyperinflationary Economies 1 Jan 2012

19 Nov 2011

Enacted -

BC

MFRS 132 Financial instruments: Presentation 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

Amendments to MFRS 17

BC

IE

MFRS 133 Earnings per Share 1 Jan 2012

19 Nov 2011

Enacted -

BC

IE

MFRS 134 Interim Financial Reporting 1 Jan 2012

19 Nov 2011

Enacted

Definition of Material

BC

IE

MFRS 136 Impairment of Assets 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

Amendments to MFRS 17

BC

IE

MFRS 137 Provisions, Contingent Liabilities and Contingent Assets 1 Jan 2012

19 Nov 2011

Enacted

 

MFRS 17

Definition of Material

IG

IE

  Onerous Contracts—Cost of Fulfilling a Contract (Amendments to MFRS 137 Provisions, Contingent Liabilities and Contingent Assets)  1 Jan 2022

5 June 2020

Enacted

-

Addition of a BC

MFRS 138 Intangible Assets 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

Amendments to MFRS 17

BC

IE

MFRS 139 Financial Instruments: Recognition and Measurement 1 Jan 2012

19 Nov 2011

Enacted -

BC

IE

  Interest Rate Benchmark Reform (Amendments to MFRS 9, MFRS 139 and MFRS 7) 1 Jan 2020

31 Oct 2019

Enacted -

Amendments to BC

  Interest Rate Benchmark Reform—Phase 2 (Amendments to MFRS 9, MFRS 139, MFRS 7, MFRS 4 and MFRS 16)  1 Jan 2021

30 Sept 2020

Enacted -

Amendments to BC

MFRS 140 Investment Property 1 Jan 2012

19 Nov 2011

Enacted

MFRS 17

BC

MFRS 141 Agriculture 1 Jan 2012

19 Nov 2011

Enacted -

BC

IE

  Annual Improvements to MFRS Standards 2018–2020 1 Jan 2022 

5 June 2020

Enacted - Amendments to BC
Annual Improvements to MFRSs 2012–2014 Cycle issued in November 2014
Annual Improvements to MFRS Standards 2014-2016 Cycle issued in December 2016
Annual Improvements to MFRS Standards 2015–2017 Cycle
Annual Improvements to MFRS Standards 2018–2020