MFRS Asset Accounting And Management: Accounting Standards & Best Practices

HRD Corp Programme Number :  10001552581

INTRODUCTION

Enhance your expertise in asset management and accounting with our comprehensive MFRS-focused training. Over two days, you’ll gain a deep understanding of key MFRS standards (116, 136, 138, 140, and 16) and their practical application to various asset classes, including tangible, intangible, investment property, and right-of-use assets. Learn to confidently handle impairment testing, loss allocation, financial statement preparation, and asset lifecycle management, driving greater efficiency and compliance within your organization.

Download Brochure and Registration form from Here

Training Date :
22nd – 23rd July 2025 (Hotel Armada Petaling Jaya, Selangor, Malaysia)
18th – 19th November 2025 (Dorsett Grand Subang, Subang Jaya, Selangor, Malaysia)

LEARNING OUTCOME

Upon completion of this course, participants will be able to:

  • Demonstrate a comprehensive understanding of the principles and applications of MFRS related to asset accounting and management.
  • Apply the relevant MFRS standards (116, 136, 138, 140, and 16) to various asset classes.
  • Accurately account for the acquisition, measurement, depreciation/amortization, impairment, and disposal of assets.
  • Prepare and interpret financial statements with a focus on asset-related information and disclosures.
  • Implement effective asset lifecycle management strategies to optimize asset performance and value.

WHO SHOULD ATTEND

Primary Target Audience:

  • Accounting and Finance Professionals:
    • Financial Controllers
    • Accountants (especially those involved in fixed assets)
    • Finance Managers
    • Financial Analysts
    • Financial Reporting Managers
    • Financial Statement Preparers
  • Audit Professionals:
    • Audit Managers
    • Audit Supervisors
    • Internal Auditors
  • Corporate Professionals:
    • Professionals involved in Mergers and Acquisitions (M&A)
    • Professionals involved in Investment Analysis
    • Asset Managers
    • Anyone responsible for managing or reporting on company assets

Specific Roles and Responsibilities:

  • Those responsible for the accurate recording, measurement, and reporting of assets in accordance with MFRS.
  • Individuals involved in the valuation, depreciation, and impairment testing of assets.
  • Professionals who need to understand the impact of asset accounting on financial statements.
  • Those who make decisions related to asset acquisition, disposal, and management.

METHODOLODY

This highly interactive and practical training program employs a variety of proven adult learning techniques to ensure effective knowledge transfer and skill development:

  • Engaging Presentations: Dynamic PowerPoint presentations, supplemented by whiteboard explanations, will be used to convey key concepts and principles in a clear and concise manner.
  • Illustrative Examples: Numerous real-world examples and case studies will be integrated throughout the sessions to demonstrate the practical application of MFRS standards and accounting techniques. These examples will progress from simple to complex scenarios, reinforcing understanding and problem-solving skills.
  • Practical Case Studies: Participants will work through in-depth case studies that simulate real-world asset accounting and management challenges. These case studies will encourage critical thinking, decision-making, and the application of learned concepts.
  • Interactive Group Discussions: Facilitated group discussions will provide opportunities for participants to share experiences, exchange insights, and learn from each other. This collaborative approach fosters a deeper understanding of the subject matter and promotes networking.
  • Q&A Sessions: Dedicated question-and-answer sessions will allow participants to clarify doubts, seek specific guidance, and address individual concerns.
  • Technology Integration: Where relevant, the training will incorporate demonstrations or discussions of technology used in asset management, such as Enterprise Asset Management (EAM) systems or specialized accounting software, to provide a contemporary perspective.
  • Assessment and Feedback: Short quizzes, polls, or exercises may be used throughout the program to gauge understanding and provide immediate feedback. Participants will also receive constructive feedback on their case study work.
  • Comprehensive Learning Materials: Participants will receive comprehensive course materials, including detailed handouts.

COURSE CONTENT

Day 1: Tangible and Intangible Assets

9:00 AM – 10:30 AM: MFRS 116: Property, Plant, and Equipment (PPE)

    • Defining the cost of PPE
    • Distinguishing between capital and revenue expenditure
    • Initial cost measurement, including purchase price, directly attributable costs, and initial estimate of dismantling, removal, and restoration costs.
    • Identifying subsequent capitalizable expenditures (e.g., replacements, overhauls)
    • Treatment of borrowing costs during construction
    • Revaluation of PPE: accounting treatment and disclosures
    • Depreciation methods: straight-line, declining balance, units of production

10:30 AM – 10:45 AM: Morning Break

10:45 AM – 1:00 PM: MFRS 138: Intangible Assets

    • Definition and characteristics of intangible assets
    • Distinguishing between internally generated and purchased intangibles
    • Initial recognition and measurement criteria (identifiability, control, future economic benefits)
    • Accounting for research and development costs
    • Amortization methods and useful lives
    • Impairment of intangible assets
    • Specific considerations for goodwill

1:00 PM – 2:00 PM: Lunch Break

2:00 PM – 3:30 PM: MFRS 16: Leases (Introduction)

    • Overview of the lease accounting model
    • Identifying a lease
    • Finance Vs Operating lease
    • Recognition of right-of-use (ROU) assets and lease liabilities
    • Initial measurement of ROU assets and lease liabilities

3:30 PM – 3:45 PM: Afternoon Break

3:45 PM – 5:00 PM: Case Studies and Group Discussions on MFRS 116 & 138

 

Day 2: Investment Property & Impairment of Assets

9:00 AM – 10:45 AM: MFRS 140: Investment Property

    • Definition and classification of investment property
    • Distinguishing between investment property, owner-occupied property, and inventory
    • Measurement models: cost model vs. fair value model
    • Transfers to and from investment property
    • Accounting treatment for fair value model
    • Disclosure requirement on MFRS 140

10:45 AM – 11:00 AM: Morning Break

11:00 AM – 1:00 PM: MFRS 136: Impairment of Assets

    • Indicators of impairment
    • Determining recoverable amount (higher of fair value less costs to sell and value in use)
    • Cash-generating units (CGUs) and impairment testing
    • Allocating impairment losses
    • Accounting treatment for reversal of impairment losses

1:00 PM – 2:00 PM: Lunch Break

2:00 PM – 3:30 PM: Case study on Investment Property

3:30 PM – 3:45 PM: Afternoon Break

3:45 PM – 5:00 PM: Comprehensive Case Study on Impairment of Assets and Q &A

Download the course content in pdf format from HERE

FACILITATOR

Dr Ooi Chee Keong
CA(M), CFP
PSMB Train-The-Trainer certificate no: TTT/18839

 

Dr Ooi Chee Keong is a Pembangunan Sumber Manusia Berhad (PSMB) Certified Trainer and a Senior Lecturer from School of Accounting and Finance, Faculty of Business and Law, Taylor’s University. He is also a Chartered Accountant of the Malaysian Institute of Accountants  (MIA) since 2002.

Chee Keong has had a long and distinguished career as a Chartered Accountant in a number of well-known Malaysian and International Companies. He started his career in Accounting as an Auditor in a medium firm in 1999. In 2002, he joined Road Builder (M) Snd Bhd as an Assistant Accountant, attached with the International Division. In 2011, he raised to Chief Financial Officer (CFO) position with TNB Energy Services Sdn Bhd (a wholly owned subsidiary of Tenaga Nasional Berhad).

He has more than fifteen years of hand-on experience in difference areas of management and functions in diverse industries such as auditing, construction, engineering, manufacturing, trading and utilities. Other than finance, auditing, taxation, corporate finance and credit control, he also involved in business development, business strategic planning, budgeting and cost management with some public listed companies. In 2014, he completed his Doctor of Philosophy (Phd) degree and was offered Assistant Professor position with Universiti Tunku Abdul Rahman.

Chee Keong areas of specialization are Financial Accounting, Consolidated Financial Statements, Corporate Governance, Accounting Quality, Earnings Management and Earnings Quality.

Click Here to Download Dr. Ooi Chee Keong Profile

Course Fees & Registration
FEE PAYABLE PER PARTICIPANT :

Normal Price                                          : RM2,518

Early Bird (15 days before event)       : RM2,298

Group Fee (>2 participants)                : RM2,078

Fee includes course materials, lunch, 2 tea breaks per day and Certificate of Attendance (upon completion of the training).

Download Registration Form from HERE and sent it to us by

Email : sales@wanfahprosper.com

WhatsApp : +60162634929

CANCELLATION / TRANSFER

Upon registering, participant(s) are considered successfully enrolled in the event.  Written cancellations / transfer notice (substitution or to later dates) received :

  • More than ten (10) working days before the event, a refund (less administrative charge of 15%) will be made.
  • Ten (10) working days or less before the event, no refund will be made.
  • For no show on the day of the event, full payment is required. If you cannot attend the event, you can nominate a substitute at any time without payment of an administration fee.
  • A full (100%) refund may be granted if the course is cancelled by Wanfah Prosper PLT (WFP). WFP reserves the right to postpone or cancel the event and / or change facilitator at any time should circumstances beyond its control arises. WFP also reserve the right to make alternative arrangements without prior notice should it be necessary to do so.

Payment

Please make cheque payable / direct credit to :WANFAH PROSPER PLT

Accounts Number : 3812930508

Bank : Public Islamic Bank Berhad

DATA PROTECTION

Personal Data is gathered in accordance with the Personal Data Protection Act 2010 (Act 709)