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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 […]

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 […]

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 […]

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 […]

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 […]