SMEs Accounting Practices Executive Need To Know

What Will You Learn?

• Explain what is MPERS
• Differentiate the differences between MFRS and MPERS
• Describe the reporting framework requirement under MPERS
• Practical usage of MPERS, presentation and disclosure in financial statement
• Able to assist finance manager / accountant for better compliance
• Inventories: Understanding the cost formulas; Dealing with impairment in accounting for inventories.
• Property Plant & Equipment: Accounting for initial costs and subsequent costs of PPE; Accounting for future costs of dismantling and restoration; Accounting for replacements items and major inspection costs.
• Impairment of Assets: Accounting for Impairment of inventories o Indicators of impairment; Understanding “fair value less costs to sell’ and “value in use”, Recognition, measurement and accounting for impairment loss for cash generating units;
• How to account for basic financial instruments and other financial instruments; Dealing with initial measurement and subsequent measurement basis; Interest income and expense recognition on effective interest rate; Derecognition (Sale or Disposal) of basic and other financial instruments