FRSIC Consensus 12 – Sustainable Forest Management Concession Arrangements (1 September 2009)
The effective date of the application of this FRSIC CONSENSUS was 1 September 2009.
The release of FRSIC Consensus 12 – Sustainable Forest Management Concession Arrangements provides guidance, on the issue addressed in this Consensus is whether the costs incurred by the Licensee within a sustainable forest management concession arrangement shall:
(a) All be recognised as an intangible asset (similar to a conventional timber concession) in accordance with FRS 138 “Intangible Assets”; or
(b) Be recognised separately as intangible assets, tangible assets or expenses in accordance with the applicable FRSs.
You can download FRISC Consensus 12 here: http://www.frsic.my/consensus_consensus.asp