Amendments to MFRS 116: Proceeds before Intended Use

Originally published at: Amendments to MFRS 116: Proceeds before Intended Use | TheAccSense

The Malaysian Accounting Standards Board (MASB) had on 5 June 2020 issued amendments to MFRS 116 Property, Plant and Equipment in relation to the proceeds received by an entity before the intended use of an asset. The diagram below summarises the main changes made under the amendments: Summary of Amendments to MFRS 116: Proceeds before…