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

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