How to enable Malaysia Private Entities Reporting Standard (MPERS) or Malaysia Financial Reporting Standards (MFRS)

Scenario: 

The reports as below showing the standard report of Profit & Loss and also Balance Sheet report. Can we change it to Malaysia Private Entities Reporting Standard (MPERS) or Malaysia Financial Reporting Standards (MFRS) format? 

Solution 

1. Maintenance > System Options > General > Reporting Standard 

The existing design is followed “Use Standard” 

2. Select ‘Malaysia Private Entities Reporting Standard (MPERS)’ > Save it > Log out & Log in system 

3. View > Reports > GL Reports > Reports > Notice that system has changed the report from “Profit & Loss” to “Statement of Comprehensive Income Comparison”  

4. Let says we preview “Statement of Comprehensive Income Comparison Report”, system will display the report as below

5. Other changes in Balance Sheet Report, the report has changed to “Statement of Financial Position”. 

6. Preview Statement of Financial Position Detail report, system display result as below 

7. If we select as ‘Use Malaysian Financial Reporting Standards (MFRS)’ Logout & login system 

8. Preview Balance Sheet Report, system will change it to “Statement of Financial Position Comparison”  

9. Preview the report, system display as below.