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MPERS for SMEs (Challenges (Companies have to keep themselves abreast of
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MPERS for SMEs
Challenges
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Talent shortages
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In private enterprises, the preparers' range of roles is wide & not limited exclusively to accounting
Undue cost or effort
biological assets need not be
measured at fair value if determination
of the fair value involves undue cost or
effort
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Make the right choice
Under certain circumstances,
changing from PERS to MFRS may be
a better option.
If you are
a property developer, you will probably
not go for MPERS because MPERS
requires all borrowing costs to be
expensed.
if you are an entity
with huge intangible assets or goodwill,
you may not like MPERS because all
your intangible assets and goodwill will
have to be amortised over 10 years and
expensed to profit or loss
if you are
a plantation company, all your trees will
have to be measured at fair value under
MPERS – which is something most
plantation companies have been trying
to avoid
MPERS is MFRS simplified
MPERS contains very little details
and application guidance. Accordingly,
preparers will encounter significant and
many application issues when applying
MPERS and there will be divergence in
the application of MPERS
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Opportunities
international standard
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73 jurisdictions
have embraced IFRS for SMEs, out of
more than 140 countries
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