Archive for October, 2009

Sample Disclosure – Change In Accounting Policy Adoption Of FRS 140 Investment Property (30 October 2009)

Change In Accounting Policy As A Result Of Adoption Of FRS 140: Investment Property The adoption of this new FRS has resulted in a change in accounting policy for investment properties. Investment properties of the Company are now stated at fair value, represe...

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Sample Disclosure – Change In Accounting Policy Of Inventories Valuation Method (29 October 2009)

Change in Accounting Policy – Valuation Method of Inventories Prior to 1 January 2009, the cost of inventories was determined on the weighted average basis. The directors consider that the change to the first-in, first-out method gives a fairer presentat...

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Sample Disclosure – Note On Contingent Asset (29 October 2009)

Contingent Asset The Company has made a claim of RM15,000,000 (2008: RM15,000,000) against the State Government in respect of an award by the Government for land expropriated from the Company in Year 1999. The directors are of the opinion that the results of r...

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Sample Disclosure – Accounting Policy On Property Construction-in-progress (28 Ocotber 2009)

Property construction-in-progress Property construction-in-progress is stated at cost and not depreciated. The property would be transferred to property, plant and equipment or investment property (depending on the intended purpose and use of the property) upo...

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Sample Disclosure – Accounting Policy On Capital Work-in-progress (27 October 2009)

Capital work-in-progress Capital work-in-progress is stated at cost and not depreciated. Depreciation on capital work-in-progress commences when the assets are ready for their intended use. Note: This is usually disclosed as an asset category of property, plan...

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Write up on IFRS 4 Insurance Contracts (23 October 2009)

This is an interesting article on IFRS 4 that I have read from the Star newpaper today: “Challenges in implementing new financial reporting standards KPMG Chat The Star, 23 October 2009 By ALEX KHAW FINANCIAL Reporting Standards No. 4 (FRS 4), or IFRS 4 ...

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