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XBRL in IT industry

Effective Tips to Adopt XBRL for the IT Industry in Malaysia

XBRL is new, error-free, and becoming the mainstay method of reporting in Malaysia. The SSM is promoting the adoption of XBRL because of the several benefits it has to offer. Ranging from the accuracy of business information to quick & efficient tagging, and of course, the ease of exchanging information are all benefits that are […]

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Malaysia MBRS

Compliance Reporting Made Easy with XBRL through MBRS

Over 1 million companies in Malaysia are required to submit their annual returns in the requisite format every year. And the pandemic has definitely fanned the flames, making it challenging to run operations, let alone focus on preparing annual returns. As a result, the accounting and reporting sector took a hit. To subside the effects […]

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MBRS XBRL mandate in Malaysia

All You Need to Know About XBRL and the MBRS System

There are over 1.38 million companies registered in Malaysia as of Dec 2020. And every company is required to submit their financial statement to the SSM in the requisite format before the due date to avoid penalties, late fees, and possible legal action. However, since Covid-19 and resulting social distancing norms, companies have been facing […]

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XBRL filing in Malaysia

Adoption of XBRL in Malaysia: Beneficial or Not?

The XBRL initiatives in Malaysia are still in the infancy stage, with regulators taking the lead to mandate this financial reporting system country-wide. Yes, this electronic reporting system is currently in the voluntary phase. As of March 8, 2021, SSM announced the mandatory adoption of online filing through the MBRS system in Malaysia, eliminating over-the-counter […]

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Online Services by SSM

A Detailed Guide to the Online Services by SSM

The Companies Commission of Malaysia (SSM) is more than just a website for the annual declaration of a business’s financial statements or registration. It’s the key to streamlining business processes and accessing business information online. Learn about the services offered by SSM and leverage them to streamline your business processes. EzBiz EzBiz is an online […]

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Latest from the Office of SSM for EzBiz Online Users

Suruhanjaya Syarikat Malaysia (SSM), the Companies Commission of Malaysia, has introduced several initiatives to assist companies facing financial complexities due to the Covid-19 pandemic.

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The Error-free Way to Preparing XBRL Reports for Voluntary Submission with SSM

Awareness of XBRL XBRL is an electronic language that enables the automation of business information requirements. By using XBRL, companies can effectively prepare, share, and analyse financial reports, statements, and audit schedules. Governments, regulators, and organisations are inclined to adopt this reporting format as it automates the process and communication of financial data as well […]

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Revolutionise Your Financial Reporting System: Transition to XBRL

XBRL may seem like it’s recently introduced, but it has been around for years. And it’s not just the increase in demand to analyse financial data that this format is gaining immense popularity. In today’s data-crazed world, XBRL is one of the most reliable financial reporting standards that offers easily readable and authoritative business and […]

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DataTracks XBRL Malaysia

Transitioning to XBRL? Outsourcing is the Ideal Choice. Here’s Why?

            Now that you have decided to transition into XBRL – the cost-efficient and better way of financial reporting, the next concern is whether to outsource or internally set up the entire process? Regardless of whether you are running a start-up or an established organisation, setting up XBRL software and […]

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Mitigate the Financial Reporting Challenges with XBRL

            Though slow to garner attention, boasting error-free and accurate financial data, XBRL now commands global recognition. In Malaysia, this revolution took a long time to transpire; however, since 2018, XBRL has maintained a strong position in the financial reporting world. Be it business regulators, investors, accountants, or other users; […]

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