Archive for May, 2006
Malaysia: Outsourcing: CNI Holdings Bhd Outsourced Its Logistics Section
CLICK TO THE MAINÂ PAGE ON ALL ARTICLES ON OUTSOURCINGÂ
In my earlier articles, I have mentioned many advantages of outsourcing. Reported in The Star pertaining to the outsourcing of CNI Holdings Bhd’s logistic section
Points extracted are as follows:
With the BPO in place, the company would be able to maximise efficiency and cost savings. By outsourcing its [...]
May 31, 2006
Posted in: Malaysia, Outsourcing 
No Comments
Humor -Euro-English
The European Commission has just announced an agreement whereby English will be the official language of the European Union rather than German, which was the other possibility. As part of the negotiations, the British Government conceded that English spelling had some room for improvement and has accepted a 5-year
phase-in plan that would become known as [...]
May 31, 2006
Posted in: HUMOURS/JOKES No Comments
Financial Operation: Simple Automation: Shared Service Folder for Overseas Subsidiaries
In the earlier articles, the simple concepts of simplify, uniformity, consistency, standardizing and automating have been advocated and practical illustrations  given to demonstrate the benefits of practicing them.
In today’s article I would like to look at a simple automation deploying the shared service folder.
Assuming we have the following scenario:
a holding company with many overseas subsidiaries
every [...]
May 31, 2006
Posted in: Financial Operations, Financial Reporting No Comments
Malaysia FRS 110-Events After The Balance Sheet Date: Highlight of Changes
FRS 110 Events After The Balance Sheet Date take effect for annual periods beginning on or after 1 January 2006
The main changes from FRS 110- 2004 are tabulated as follows:
Section
Requirements
Paragraph 12 & 13
The main change from FRS 110-2004 was a limited clarification of paragraphs 12 and 13 (paragraphs 11 and 12 of FRS [...]
May 30, 2006
Tags: FRS, MASB Posted in: MASB News, Malaysia No Comments
Malaysia FRS 124-Related Party Disclosure : Highlight of Changes
Extracted from MASB
FRS 124 Related Party Disclosure take effect for annual periods beginning on or after 1January 2006
The main changes from FRS 124- 2004 are tabulated as follows:
Section
Requirements
Scope
Expanded to include ALL entities except for exempt entities as defined in MASB SOP 1 Exempt Enterprise. The existing FRS 124 applies only to public listed companies [...]
May 30, 2006
Tags: FRS, MASB Posted in: MASB News, Malaysia No Comments
Malaysia FRS 102 –Inventories : Highlight of Changes
Extracted from MASB
FRS 102 Inventories take effect for annual periods beginning on or after 1 January 2006
The main changes from FRS 102 2004 are tabulated as follows:
Section
Requirements
Objective and Scope
The objective and scope paragraphs of FRS 102-2004 were amended by removing the words ‘held under the historical cost system’, to clarify that the Standard applies to [...]
May 30, 2006
Tags: FRS, MASB Posted in: MASB News, Malaysia No Comments
Financial Accounting Workflow: Two Ways To handle Provisioning or Accruals
This article is not regarding the discussion of the adequacy of provision /accruals nor to understand how the FRS handles it.
Specifically, this article is to discuss the way(s)  we book in provision or accrual in our books of accounts.
Generally, there are two (2) ways of accounting treatment:
(1)Â Partial method and
(2)Â 100% reversal method
For the Partial Method:
The accounting entry is as follows:
Debit: Expenses (Income Statement) [...]
May 29, 2006
Posted in: Financial Reporting No Comments
