69 / 140
Asia Media Group Berhad
►
Annual Report 2015
Notes to the Financial Statements
(continued)
pg.
68
2.
Basis of preparation (cont’d)
(a) Basis of consolidation (cont’d)
If the Group loses control over a subsidiary, it derecognises the assets (including goodwill)
and liabilities of the subsidiary at their carrying amounts, the carrying amount of any non-
controlling interest in the former subsidiary, the cumulative foreign exchange translation
differences recorded in equity, the fair value of the consideration received, the fair value
of any investment retained in the former subsidiary, any surplus or deficit in the profit or
loss and the parent’s share of components previously recognised in other comprehensive
income to profit or loss or retained earnings, if required in accordance with other MFRSs.
The accounting policies for business combination and goodwill are disclosed in Note 3(a)
and 3(d) to the financial statements.
(b) Standards, amendments to published standards and interpretations issued but not
yet effective
The Company has not applied in advance the following accounting standards (including
the consequential amendments, if any) that have been issued by the MalaysianAccounting
Standards Board (“MASB”) but are not yet effective for the current financial year:
MFRS (Including The Consequential Amendments)
Effective Date
MFRS 14
Regulatory Deferral Accounts
1 January 2016
Amendments to MFRS
Clarification of Acceptable Methods of
1 January 2016
116 and MFRS 138
Depreciation and Amortisation
Amendments to MFRS 11 Accounting for Acquisitions of Interests in
1 January 2016
Joint Operations
Amendments to MFRS
Agriculture: Bearer Plants
1 January 2016
116 and MFRS 141
Amendments to MFRS 127 Equity Method in Separate Financial Statements 1 January 2016
Amendments to MFRS 101 Disclosure Initiative
1 January 2016
Amendments to MFRS 10,
Investment Entities: Applying the
1 January 2016
MFRS 12 and MFRS 128 Consolidation Exception
Annual Improvements to MFRSs 2012-2014 Cycle
1 January 2016
Amendments to MFRS 10 Sale or Contribution of Assets between an
To be announced
and MFRS 128
Investor and its Associate or Joint Venture
by MASB
MFRS 15
Revenue from Contracts with Customers
1 January 2018
MFRS 9
Financial Instruments
1 January 2018
The above accounting standards (including the consequential amendments) is not expected
to have any material impact on the Group’s financial statements other than as follows: