FAR570: Established in 2016, Nova Bhd, a laptop manufacturing company has carved out a very good reputation in the tech industry, boasting consistent sales: Financial Accounting And Reporting 4, Assignment, UiTM, Malaysia

Question 2

The MASB develops and publishes a separate Standard to be applied to the general purpose financial statements of private entities which is Malaysian Private Entities Reporting Standard (MPERS). The MPERS is based on the IASB’s International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) which one of the objective is to provide information about the financial position, performance and cash flows of the a private entity that is useful for economic decision-making by a broad range of users of the financial statements who are not in a position to demand reports tailored to meet their particular information needs.