Question: 2 The MASB develops and publishes a separate Standard i.e. Malaysian Private Entities Reporting Standard (MPERS) to be applied to the general purpose financial statements

2 The MASB develops and publishes a separate Standard i.e. Malaysian Private Entities Reporting Standard (MPERS) to be applied to the general purpose financial statements of private entities. This standard is effective on or after 1 January 2016. However private entities have the option to apply in its entirety either the MPERS or the Malaysian Financial Reporting Standards (MFRS). c) Discuss the MPERS framework for employee benefit and share-based payment (10 marks)

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