Sample Disclosure – Note On Property Development Costs (13 February 2009)

PROPERTY DEVELOPMENT COSTS


2008

RM

2007

RM

Land – at cost

x,xxx,xxx

x,xxx,xxx

Add : Incidental costs

xxx,xxx

x,xxx,xxx

x,xxx,xxx

x,xxx,xxx

Cumulative land cost recognised as an expense in income

Statement

(x,xxx,xxx)

(x,xxx,xxx)

x,xxx,xxx

x,xxx,xxx

Add : Development costs
Balance at beginning of year

x,xxx,xxx

x,xxx,xxx

Additions during the financial year

x,xxx,xxx

x,xxx,xxx

x,xxx,xxx

x,xxx,xxx

Less: Cumulative development costs recognised as an

expense in income statement

(x,xxx,xxx)

x,xxx,xxx

x,xxx,xxx

x,xxx,xxx

Less: Transfer to closing inventories (Note x)

(x,xxx,xxx)

x,xxx,xxx

x,xxx,xxx

x,xxx,xxx

Included in development cost is the interest charged as follows:

2008

RM

2007

RM

Balance at beginning of year

x,xxx,xxx

x,xxx,xxx

Amount included in additions during the year

xxx,xxx

xxx,xxx

Balance at end of year

x,xxx,xxx

x,xxx,xxx

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