Provision account that will be least amount of assets and without the company

Provision account that will be least amount of assets

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provision account in the company for know about expected gains are not gains. Provision account that will be least amount of assets and without the company from the gains and became loss. For example, the market price of property and equipment of the company Goldis Berhad will always drop and they must always opening the provision for depreciation account which is to estimate the amount of gain or loss in the company. 3. Accrual Concept Accrual concept is recognized the revenue and expenses was occurs in period of time, even though the company overpaid or did not receive any cash. This concept will let Goldis Berhad save the time in the business transaction to get more profit but the company must be incurring the possibility of being bad debts. For instance, trade receivables for Goldis Berhad which was comprise from customers for construction works carried out, project management services and sales of properties developed and do not receive the cash in the period of time.
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d)i) Horizontal method for SOCI and SOFP Goldis Berhad Statement of Comprehensive Income for the year ended 31 December 2016 and 31 December 2015 2016 RM(‘000) 2015 RM(‘000) Amount RM(‘000) Percentage (%) Revenue 1,255,473 1,278,218 (22,745) (1.8) Cost of sales (611,331) (650,255) 38,924 6.0 Gross profit 644,142 627,993 16,149 2.6 Other operating income 180,571 54,360 126,211 232.1 Administrative expenses (250,610) (211,268) (39,342) (18.6) Other operating expenses (15,759) (10,803) (4,956) (45.9) Profit from operations 556,344 460,282 96,062 20.9 Finance income 32,130 41,360 (9,230) 22.3 Finance costs (129,804) (151,716) 21,912 14.4 Share of results of associates 22,743 41,196 (18,453) (44.8) Share of results of associates (505) (743) 238 32.0 Profit before taxation 482,908 390,379 92,529 23.7 Tax (expense)/credit (83,022) (103,486) 20,464 19.8 Net profit 399,886 286,893 112,993 39.4
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Goldis Berhad Statement of Financial Position as at 31 December 2016 and 31 December 2016 2016 RM(‘000) 2015 RM(‘000) Amount RM(‘000) Percentage (%) Fixed Assets: Property, plant and equipment 1,705,020 2,466,317 (761,297) (30.9) Inventories 252,906 309,935 (57,029) (18.4) Investment Properties 2,725,284 2,451,063 (274,221) (11.2) Long term prepaid lease 422 4,065 (3,643) (89.6) Intangible assets 14,418 33,907 (19,489) (57.5) Biological assets 102 242 (140) (57.9) Associates 467,248 516,551 (49,303) (9.5) Joint ventures 385,360 431,937 (46,577) (10.8) Available for sale financial assets 29,644 17,579 12,065 68.6 Concession receivables 100,302 97,746 2,556 2.6 Deferred tax assets 12,796 1,548 11,248 726.6 Current assets: Inventories 513,609 472,755 40,854 8.6 Financial assets at fair value through profit or loss 17,778 21,185 (3,407) (16.1) Concession receivables 3,313 3,285 28 0.8 Amount owing from associates 41,480 28,397 13,083 46.07 Amount owing from joint ventures 25,472 18,389 7,083 38.5 Receivables and contract assets 207,574 211,996 (4,422) 2.1 Tax recoverable 24,206 5,914 18,292 309.3 Cash held under Housing Development Accounts 87,700 223,931 (136,231) (60.8) Deposit, cash and bank balances 963,599 1,116,690 (153,091) (13.7) Asset classified as held for sale 708,025 35,190 672,835 1,912 Total Assets 8,286,258 8,268,622 17,636 0.2 Goldis Berhad Statement of Financial Position as at 31 December 2016 and 31 December 2016 2016 RM(‘000) 2015 RM(‘000) Amount RM(‘000) Percentage (%) Represented by/Owner’s Equity:
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Share capital 610,891 610,494 397 0.1 Share premium 32,809 32,340 469 1.45 Treasury shares (5,722) (5,722) 0 0 Redeemable Convertible Cumulative Preference Shares 366,921 367,650 (729) (0.2) Other reserves 59,658 86,709 (2,7051) (31.2) Retained earnings 1,487,329 1,346,410 140,919 10.5 Non-controlling interests 1,299,380 1,248,004 51,376 4.1 Total Equity: 3,851,266 3,685,885 165,381 4.5 Long Term Liabilities: Payables and contract liabilities 90,129 89,297 832 0.9 Deferred tax liabilities 174,257 188,842 (14,585) (7.7) Redeemable Convertible Cumulative Preference Shares 49,004 64,085 (15,081) (23.5) Hire purchase and finance lease payables 33 80 (47) (58.8) Interest bearing bank borrowings 2,654,236 2,577,964 76,272 3.0 Current Liabilities: Payables and contract liabilities 745,187 515,850 229,337 44.5
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  • Fall '19
  • Balance Sheet, Generally Accepted Accounting Principles, Goldis Berhad

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