Revenue recognition Revenue from sale of goods is measured at fair value of the consideration received or receivable and is recognised in the statement of comprehensive income of the Company when significant risks and rewards of the ownership of the goods have...
Prior to 1 January 2010, information about financial instruments was disclosed in accordance with the requirements of FRS 132 Financial Instruments: Disclosure and Presentation. The Group and the Company adopted FRS 7 Financial Instruments: Disclosures (“FRS...
Operating Segments In the previous financial years, the Group deemed a segment as a distinguishable component of the Group that was engaged either in providing products or services (business segment), or in providing products or services within a particular ec...
Note On Significant Event During The Year – Lifting Of PN 17 Status The Company had previously announced on 8 April 2008 that it intended to undertake a regularisation scheme to address its status under the Amended Practice Note 17/2005 of the Listing Requir...
Realised and Unrealised Profits On 25 March 2010, Bursa Malaysia Securities Berhad (“Bursa Malaysia”) issued a directive to all listed issuers pursuant to Paragraphs 2.06 and 2.23 of Bursa Malaysia Main Market Listing Requirements. The directive requires a...
RESERVES i. Share premium arose from the issuance of 10,575,000 shares of RM1.00 each at a premium of RM0.15 per share, net of listing expenses. ii. Asset revaluation surplus arose from revaluation of freehold land...
SIGNIFICANT EVENT SUBSEQUENT TO THE BALANCE SHEET DATE On 18 November 2010, the Group through its wholly-owned subsidiary company, DEF Sdn. Bhd., subscribed for the entire ordinary shares of GHI Sdn. BHd., for a total cash consideration of RM1,000, resulting i...
Biological Assets – Forest planting expenditure All direct and related expenses incurred on the development of the Company’s Sustainable Forest Ecology and Management Project under the licensed agreement entered into with the State Government of Wonder...
Intangible assets – timber rights This represents the exclusive rights acquired by the Company to extract and purchase all commercial timber logs extractable from a designated timber concession area. Timber rights are stated at cost less accumulated amoritsa...
ABC SDN. BHD. (Incorporated in Malaysia) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ABC SDN. BHD. Report on the Financial Statements We have audited the financial statements of ABC SDN. BHD., which comprise the balance sheets as at 30 September 2010 of t...
Principal Activities During the financial year, the Company changed its principal activities from manufacturing and trading of paper sticks for all types of cotton products, to buy, sell, assemble and modification of equipment and machinery related to the prod...
An article on a tool used by Inland Revenue Board to catch tax cheats – Capital Statement, on the Star newspaper, Tuesday August 2, 2011:- “How tax cheats get caught – By Kang Beng Hoe THE term tax cheat used here refers to the determined tax...
Click Here For Sample Reports and Financial Statements Warning: You may use this template and modify for your own use and distribute it without modification but please do not sell it to others without my consent. Use this template with your own judgment and ca...
DIRECTORS’ INTERESTS The interests and deemed interests in shares and options of the Company and of its related corporations of those who were Directors at year end (including the interests of the spouses and/or children of the directors who themselves are n...
The effective date of the application of this FRSIC CONSENSUS was 1 September 2009. The release of FRSIC Consensus 13 – Expenses Permitted To Be Written Off Against The Share Premium Account Under Section 60 of the Companies Act, 1965 provides guidance...