Author: kclim

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

FRSIC Consensus 10 – How To Compute The Majority Of The Benefits And Risks Of Special Purpose Entity (SPE) And What Constitutes The Residual Interest In The Case Where There Are Different Tranches Of Risks? (31 July 2008)

The effective date of the application of this FRSIC CONSENSUS was 31 July 2008.

The release of FRSIC Consensus 10 – How To Compute The Majority Of The Benefits And Risks Of Special Purpose Entity (SPE) And What Constitutes The Residual Interest In The Case Where There Are Different Tranches Of Risks? provides guidance, on the application of IC Interpretation 112 Consolidation – Special Purpose Entities, and, specifically provides clarification on:-

(i) How to compute the majority of benefits and risks of Special Purpose Entities?

(ii) What constitutes residual interest in the case where there are different tranches of risks?


You can download FRISC Consensus 10 here: http://www.frsic.my/consensus_consensus.asp

FRSIC Consensus 9 – Accounting For Rights Issue With Free Warrants (31 July 2008)

The effective date of the application of this FRSIC CONSENSUS was 31 July 2008.

The release of FRSIC Consensus 9 – Accounting For Rights Issue With Free Warrants provides guidance, on the issue whether a value should be allocated to free warrants that come together with the rights issue of shares to shareholders.

You can download FRISC Consensus 9 here: http://www.frsic.my/consensus_consensus.asp

FRSIC Consensus 8 – Revenue Recognition For Shipping Freight Services Companies (27 March 2008)

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

The release of FRSIC Consensus 8 – Revenue Recognition For Shipping Freight Services Companies provides guidance, on recognition of revenue for shipping freight services companies specifically on whether recognising revenues from incomplete services of liner voyages is in compliance with FRS 118 Revenue.

You can download FRISC Consensus 8 here: http://www.frsic.my/consensus_consensus.asp

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