The Malaysian Accounting Standards Board (MASB) has issued today the Malaysian Financial Reporting Standards (MFRS) Glossary in Bahasa Malaysia.
The translated terms will provide useful reference to preparers and users of financial statements as well as other interested individuals, organizations and academia.
The MFRS Glossary comprises 1,824 terminologies. They range from existing and new terms extracted from MFRSs and also the accompanying documents which include the Basis for Conclusions, Illustrative Examples and Implementation Guidance.
The MASB is hopeful that the issuance of the MFRS Glossary in Bahasa Malaysia will encourage consistent terminologies being applied among preparers and users of financial statements and in the academic textbooks and teachings.