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Malaysia: Property development industry not yet ready for new accounting practice

Posted on 20 June 2011

The property development industry is not yet ready for a new accounting practice that recognises revenue based on project completion, said Real Estate and Housing Developers’ Association Malaysia (Rehda) president Datuk Seri Michael Yam.
Yam has suggested a delay in the new ruling under the International Financial Reporting Interpretations Committee (IFRIC) 15, which is to be implemented on Jan 1, 2012……………………………………….Full Article: Source


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