FRSIC Consensus 7 – Accounting Treatment For Granting Of ESOS By Parent Company To Subsidiary’s Employees And Subsequent Recharge By The Parent (27 March 2008)

The effective date of the application of this FRSIC CONSENSUS was 27 March 2008.

The release of FRSIC Consensus 7 – Accounting Treatment For Granting Of ESOS By Parent Company To Subsidiary’s Employees And Subsequent Recharge By The Parent provides guidance, on the accounting treatment for transactions where a parent grant rights to its equity instrument to its subsidiary’s employees and recharges the subsidiary for the equity instrument

You can download FRISC Consensus 7 here: http://www.frsic.my/consensus_consensus.asp

FRSIC Consensus 6 – Accounting For Premium Paid For Transfer Of Listing Status In A Reverse Takeover Scenario [Acquisition Of The Listing Status Of A Company That Was Not Itself A Going Concern] (27 March 2008)

The effective date of the application of this FRSIC CONSENSUS was 27 March 2008.

The release of FRSIC Consensus 6 –Accounting For Premium Paid For Transfer Of Listing Status In A Reverse Takeover Scenario [Acquisition Of The Listing Status Of A Company That Was Not Itself A Going Concern] provides guidance, on the issue whether payment made for the transfer of listing status in a reverse take over situation is an intangible asset.

You can download FRISC Consensus 6 here: http://www.frsic.my/consensus_consensus.asp

Sample Disclosure – Note On Effect Of Adopting FRS 7 Financial Instruments: Disclosures (5 April 2011)

Prior to 1 January 2010, information about financial instruments was disclosed in accordance with the requirements of FRS 132 Financial Instruments: Disclosure and Presentation. The Group and the Company adopted FRS 7 Financial Instruments: Disclosures (“FRS 7”) as at 1 January 2010. FRS 7 introduces new disclosures to improve on the level of disclosure of information about financial instruments. It requires the disclosure of qualitative and quantitative information about exposure to risks arising from financial instruments, including specified minimum disclosures about credit risk, liquidity risk and market risk, including sensitivity analysis to market risk.

The Group and the Company have applied FRS 7 prospectively in accordance with the transitional provisions of FRS 7 and therefore, the comparatives have not been applied with the requirement of new disclosures under FRS 7. The new disclosures are included throughout the Group’s and the Company’s financial statements for the year ended 31 December 2010.

FRSIC Consensus 5 – Split Of The Minimum Lease Payments Between The Land And The Building Elements (27 March 2008)

The effective date of the application of this FRSIC CONSENSUS was 27 March 2008.

The release of FRSIC Consensus 5 – Split Of The Minimum Lease Payments Between The Land And The Building Elements provides guidance, on various methods adopted by the professional valuers or internal experts of a reporting entity in the allocation of the minimum lease payments to the land element and the buildings element is in accordance with the provisions of FRS 117.16.

You can download FRISC Consensus 5 here: http://www.frsic.my/consensus_consensus.asp

FRSIC Consensus 4 – Accounting Treatment For Impairment Of Goodwill In Situation Where Court Approval Has Been Obtained To Write It Off Against Reserves (27 March 2008)

The effective date of the application of this FRSIC CONSENSUS was 27 March 2008.

The release of FRSIC Consensus 4 – Accounting Treatment For Impairment Of Goodwill In Situation Where Court Approval Has Been Obtained To Write It Off Against Reserves provides guidance, on accounting treatment of impairment of goodwill in the situation where court approval has been obtained to write off goodwill against reserves account, for example, share premium account as allowed under Section 64 of the Companies Act, 1965.

You can download FRISC Consensus 4 here: http://www.frsic.my/consensus_consensus.asp

FRSIC Consensus 3 – Is Fixed Deposit Held On Lien for Bank Guarantee Facilities A Cash and Cash Equivalent? (1 February 2008)

The effective date of the application of this FRSIC CONSENSUS was 1 February 2008.

The release of FRSIC Consensus 3 – Is Fixed Deposit Held On Lien for Bank Guarantee Facilities A Cash and Cash Equivalent? provides guidance, to address the situation where fixed deposits pledged to financial institutions for bank guarantee facilities. The issue is whether such fixed deposits are considered as a component of cash and cash equivalents or should be excluded from cash and cash equivalents due to the reason that they are restricted cash.

You can download FRISC Consensus 3 here: http://www.frsic.my/consensus_consensus.asp