...I) The reason of the importance of MFRS 8 Operating Segments for accounting user A Framework for decision making MFRS 8 is important because It specifies how the firm should report their information about its operating segments in the annual financial statements and interim reports and because its sets out the requirements for related disclosures about products and services, geographical area and major customers, therefore the firm can not include any segment in the annual financial statement, any segment reported must have meet specified criteria. Clear Identification of Financial Benefits MFRS 8 is important because stakeholders can view the activities of the segments and see how its adds to the development and growth of the firm, since MFRS 8 requires the firm to report the profit or loss of the segments assets and also it requires the firm to quantify the segment liabilities and also to disclose information about countries where its earns revenues and information about the firms major customers, so by disclosing this information stakeholders are able to make informed decisions about the firm Entity Wide Disclosures MFRS 8 is important because it facilitates entity wide disclosures because in doing the analysis of a large firm there need to be a breakdown of the segments performance in order to properly evaluate individual operating segments to determine how resources should be allocated to the most effective segments and where to moves resources from the less performing...
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...Chapter 12 1(a) Tagline Statement of Cash Flows For the year ended 31 December x5 | RM’000 | | RM’000 | Cash from operating activities: | | | | Profit before taxation | | | 50 | Adjustments fro: | | | | Depreciation | | | 2,200 | Profit on disposal of PPE (12,000-7,400) | | | (4,600) | Release of government grant | | | (250) | Increase in insurance claim receivable | | | (300) | Interest expense | | | 260 | Investment income | | | (40) | Cash generated from operations | | | (2,680) | Increase in inventories | | | (700) | Increase in trade receivables | | | (500) | Increase in trade payables | | | 1,100 | | | | (2,780) | Interest paid | | | (260) | Income taxes paid | | | (1,350) | Net cash flow from operating activities | | | (4,390) | | | | | Cash flows from investing activities: | | | | Purchase of plant | (2,900) | | | Proceeds from the disposal of plant | 12,000 | | | Proceeds from government grant | 950 | | | Investment income | 40 | | 10,090 | Net cash inflow from...
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...mengenai MFRS 108 Polisi Perakaunan, Perubahan Dalam Anggaran Perakaunan dan Kesilapan, ianya berkaitan dengan penggunaan MFRS 1 First-time Adoption of Malaysian Financial Reporting Standard. Sebelum penerangan mengenai MFRS 108 diberikan dengan lebih jauh lagi, penerangan mengenai MFRS 1 akan diberikan perhatian terlebih dahulu dan seterusnya hubung kait diantara keduanya akan dapat dilihat dengan lebih jelas. 1.1 Pengenalan : MFRS 1 MFRS 1 First-time Adoption of Malaysian Financial Reporting Standards Tarikh Efektif dan Aplikasi MFRS 1 Sesuatu entiti akan terpakai MFRS 1 untuk tempoh tahunan bermula pada atau selepas 1 Januari 2012. Pemakaian MFRS 1 adalah perlu kerana jika tidak, penyata kewangan itu dikatakan tidak menjalankan pematuhan terhadap IFRS. MFRS 1 dikatakan terpakai apabila entiti pertama mematuhi setiap satu daripada MFRS bersamaan dengan IFRS berkuatkuasa bagi tempoh tahunan bermula pada atau selepas 1 Januari 2012 bagi penyata kewangan MFRS pertamanya. Secara umumnya, MFRS 1 memerlukan maklumat perbandingan yang akan dinyatakan semula jika keperluan MFRS telah digunakan berkuatkuasa bagi tempoh tahunan bermula pada atau selepas 1 Januari 2012, kecuali apabila piawaian: 1) melarang penggunaan retrospektif dalam beberapa aspek atau 2) membolehkan penerimaan pakai kali pertama untuk menggunakan salah satu atau lebih daripada pengecualian atau pengecualian yang terkandung di dalamnya. Objektif MFRS 1 Merujuk kepada Para 1, objektif bagi MFRS 1 ini adalah...
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...MFRS 4 insurance contracts MFRS 111 -1 insurance Industry MFRS 4 insurance contracts 1. Introduction 2 main parties in the insurance business: 1- the insured and 2) the insurer. The insured is the individual or organization, which had agreed to contribute an amount of money and been relieved from the risks The insurer is usually an organization, which manages the money and undertakes the risks. MFRS 111 -3 Introduction • The insurance business can be broadly categorized into two classes, the general insurance and the life insurance. • life insurance business is involved in life insurance policies. • general insurance business is involved in policies other than life insurance policies such as marine, motor vehicles, fire and theft. • Takaful -Islamic insurance, which also offers life and general insurance, but is managed according to the syariah laws. MFRS 111 -4 2. Definitions • Several terms used in General Insurance Business. • Acquisitions cost are commissions and agency related expenses incurred in securing premium on general insurance policies. • Claims are demand by any party for payment by the insurer of a policy benefit on account of an alleged loss resulting from an event or events alleged to be covered by a policy of insurance. MFRS 111 -5 2. Definitions • Premium is the amount payable to an insurer under a policy as consideration for the obligations assumed by the insurer. • • Reinsurance is an arrangement whereby the re-insurer...
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...MFRS 119 Employee Benefits MFRS 119 define employee benefits as to prescribe the accounting and disclosure by employers for employee benefits. Thus, it replaces MASB Approved Accounting Standard IAS 19 Accounting for Retirement Benefits in the Financial Statements of Employees. The major changes from old IAS 19 are set out in the Basis for Conclusions. The Standard does not deal with reporting by employee benefit plans (see FRS 126 Accounting and Reporting by Retirement Benefit Plans ). From MFRS 119, there are four categories of employee benefits to be identified which are: (a) short-term employee benefits, such as wages, salaries and social security contributions, paid annual leave and paid sick leave, profit-sharing and bonuses (if payable within twelve months of the end of the period) and non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for current employees; (b) post-employment benefits such as pensions, other retirement benefits, post-employment life insurance and post-employment medical care; (c) other long-term employee benefits, including long-service leave or sabbatical leave, jubilee or other long-service benefits, long-term disability benefits and, if they are payable twelve months or more after the end of the period, profit-sharing, bonuses and deferred compensation; and (d) termination benefits. 3.1 Accounting Policy Used on MFRS 119 Employee Benefits for AZRB AZRB act or implement the employee benefits...
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...What is related party transaction? Based on MFRS 124 (Paragraph 9) - A related party transaction is a transfer of resources, services or obligations between a reporting entity and a related party, regardless of whether a price is charged. Who are the related parties of the company? Based on MFRS 124 (paragraph 9) - A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’). a) A person or a close member of that person’s family is related to a reporting entity if that person: i. has control or joint control over the reporting entity; ii. has significant influence over the reporting entity; or iii. is a member of the key management personnel of the reporting entity or of a parent of the reporting entity. b) An entity is related to a reporting entity if any of the following conditions applies: i. The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others). ii. One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member). iii. Both entities are joint ventures of the same third party. iv. One entity is a joint venture of a third entity and the other entity is an associate of the third entity. v. The entity is a post-employment benefit plan...
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...transparent and comparable information in financial statements and other financial reporting to help participants in the Malaysian capital market and other users make economic decisions; (b) to promote the use and rigorous application of those standards; (c) in fulfilling the objectives associated with (a) and (b), to take account of, as appropriate, the special needs of private entities (defined and explained in Section 1 Private Entities); and (d) to pursue a policy of convergence of Malaysian Financial Reporting Standards (MFRSs) with International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB). MFRSs Comparison of MPERS and MFRSs 1) Component of financial statement MPERS | MFRs | 1. Components of financial statements: (i) Two statements each for financial position, comprehensive income, changes in equity, cash flows and notes. (ii) No requirement for the 3rd statement of financial position. 2. Choice of one continuous statement or two separate statements for presentation of comprehensive income. No requirement to segregate items of OCI into those that may or may not be reclassified to profit or loss. Attribution to owners and non-controlling interests to be shown separately. Presentation of extraordinary items is banned. 3. If the only changes during the period arise from profit or loss, payment of dividends, correction of errors and changes in accounting policy, may present a single statement of income and retained...
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...muscle, and joints30 sooner or later poor posture cause pain, muscles ache, chronic neck spasm, headache which eventually lead to complication like osteoarthritis.31 On the other hand, proper sitting posture and exercises are the way to prevent from chronic neck spasm pain. So people who are working most of the time in neck forward bending cannot perform task efficiently without synergetic action of deep neck muscles.32 Muscle spasm that last for long time (i.e. chronic spasm) may be treated with moist heat, massage and stretching exercises. 9 Conservative methods of treating chronic cervical pain without manipulation or surgical intervention have been associated with success rates of approximately 80%.24, 25 Myofascial Release Therapy (MFR) Myofascial release therapy can be defined as the facilitation of neural, mechanical and psycho physiological adaptive potential as interfaced by the myofascial system.10 It is a collection of approaches and techniques that focuses on freeing restrictions of movement that originate in the soft tissues of the body.11 In glossary of osteopathic terminology , it is defined as the therapeutic application of manually guided forces to improve physiological function and homeostasis that has been altered by somatic dysfunction. 12 The goal of the myofascial release is to release fascia restriction and to restore its tissue.13 It works on a principle that to release physically restricted musculoskeletal groups which are caused by chronic tension...
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...Project Management • SME for GPhA and other MFR clients • SCTF • PDSA Current Legislative Environment States ePedigree - California 2015/2016 THS = Transaction history (shipped) RTH = Transaction history (received) = Product information = Statement of accuracy/certification PI S Data Package/Records THS1 R1 TH THS2 PI R1 THS3 TH R2 TH PI S3 R1 TH R2 TH R3 TH PI S1 S1 S2 S1 S2 S1 S2 S3 Manufacturer Wholesaler Secondary Wholesaler Dispenser Trading partners pass product information and all prior transaction history upon each change of ownership. Electronic Pedigrees in California “Pedigree” means a record, in electronic form, containing information regarding each transaction resulting in a change of ownership of a given dangerous drug, from sale by a manufacturer, through acquisition and sale by one or more wholesalers, manufacturers, repackagers, or pharmacies, until final sale to a pharmacy or other person furnishing, administering, or dispensing the dangerous drug. The pedigree shall be created and maintained in an interoperable electronic system, ensuring compatibility throughout all stages of distribution. Pedigree includes: MFR name / address & registration number, drug name, quantity, dosage form and strength, transaction date, invoice number, container size, number of containers, expiry, lot number. California Law – Main features • Unit – case level serialization – Inference = Aggregation by MFRs and anyone downstream opening a case. •...
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...A SUMMER TRAINING PROJECT REPORT ON BAJAJ AUTO PVT LTD. PREPARED BY Pankaj Sankharva (M.B.A. 1st Year) Chirag Manek (M.B.A. 1st Year) R.K. COLLEGE OF BUISNESS MANAGEMENT RAJKOT. (GUJARAT) MAY – JUNE 2006. I Pankaj Sankharva undersigned the student of M.B.A 1st Year. Of R.K. college of Business Management here by declares that the project work presented in this reports is my own work & has been carried out under supervision of Mr. Kumara Anjaria, Sales Manager of “Automotive Manufacturers Pvt Ltd” at Rajkot. It is a authorize showroom and service station of Bajaj Auto. Date:- Place :- Mr. Pankaj Sankharva I n today’s competitive world the practical study forms an important part in each and every professional course. The MBA is a course in which the theoretical knowledge is backed by the practical study. That study is in the form of project. The Summer Training Project is one of the important parts of the curriculum. And each and every student has to work for the project. The summer project enables the students to know more about the application of theoretical knowledge. The current situation of the market is made known to the students when they undertake the project. The project gives better insides into the application part of the theory. The companies in an industry and their operations can be better known by the students when they analyze the data, and prepare the grand project. This project is on the analysis of Two...
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...pihak-pihak terlibat telah menjalankan obligasi mereka sama ada satu pihak sahaja mahupun kedua-dua pihak pada tahap yang sama. iii. Sesuatu yang timbul dalam entiti insurans daripada kontrak dengan pemegang polisi iv. Sesuatu yang telah diliputi oleh standard lain. Dalam tajuk kejadiaan selepas tarikh kunci kira-kira iaitu ketidakpastian dalam laporan kewangan, salah satu topik yang dibincangkan ialah kontingensi. Di Malaysia MFRS 137 Peruntukan, Liabiliti Kontingen dan Aset Kontingen merupakan standard pelaporan kewangan yang digunakan untuk sebarang peruntukan, aset kontingen dan liabililiti kontingen. Objektif MFRS 137 ialah untuk memastikan bahawa kriteria pengiktirafan dan asas pengukuran yang sesuai telah digunakan kepada peruntukan, liabilti kontingen dan aset kontingen serta maklumat yang mencukupi didedahkan dalam nota bagi membolehkan pengguna memahami ciri-ciri, pemasaan dan amaun. MFRS 137 adalah sama dengan IAS 37 seperti yang telah dipinda dan dikeluarkan oleh IASB, temasuklah tarikh efektif dan tarikh pengisuan. Entiti yang mematuhi MFRS 137 secara langsung telah mematuhi IAS 37. Oleh itu dalam perbincangan ini kita akan melihat satu persatu mengenai peruntukan, aset kontingen dan liabiliti kontingen.Fokus utama perbincangan ini adalah berkaitan dengan liabiliti kontingen. 2.0 PERUNTUKAN Peruntukan adalah liabiliti dengan pemasaan atau amaun yang tidak pasti. Berbeza dengan lain-lain liabiliti kerana...
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...S T N C O N T E Notice of Annual General Meeting 2 Statement Accompanying Notice of Annual General Meeting 3 Corporate Information 4 Profile of the Board of Directors 5 Audit Committee Report 7 Statement of Corporate Governance 11 Statement on Risk Management and Internal Control 15 Directors’ Responsibility Statement and Other Information 17 Chairman’s Statement 19 Directors’ Report 21 Consolidated Statements of Financial Position 25 Statements of Profit or Loss and Other Comprehensive Income 26 Statements of Changes in Equity 27 Statements of Cash Flows 28 Notes to the Financial Statements 31 Supplementary Information on the Breakdown of Realised and Unrealised Profits or Losses 82 Statement by Directors / Statutory Declaration 83 Independent Auditors’ Report 84 Analysis of Shareholdings 86 List of Group Properties 88 Form of Proxy Enclosed 2 Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the Fortieth Annual General Meeting of the Company will be held at The Hwa Tai Grand Conference Room, Ground Floor, No. 12, Jalan Jorak, Kawasan Perindustrian Tongkang Pecah, 83010 Batu Pahat, Johor Darul Takzim, Malaysia on Saturday, 20 June 2015 at 11.30 a.m. AGENDA 1. To present the Audited Financial Statements for the financial year ended 31 December 2014 together with the Directors’ and Auditors’ Reports thereon. 2. To approve payment of Directors’ fee for the financial year ended 31 December...
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...MFRS 110 :EVENTS AFTER THE REPORTING DATE CIA 1003 INTERMEDIATE FINANCIAL ACCOUNTING AND REPORTING CAEA 1214 FINANCIAL ACCOUNTING AND REPORTING II Semester 2, 2015/2016 Learning outcome • Determine the different types of events after the reporting period in accordance with MFRS110. • Apply MFRS 110 to account for events after the reporting period either to: • Make adjustments in the financial statements • Prepare the necessary disclosures • Present the different types of events after the reporting period in the financial statements in compliance with MFRS110. Lecture outline • Introduction • Definitions • Types of Events -Adjusting Events -Non Adjusting Event • Other Issues -Date of authorization for issue -Dividends -Going concern -Disclosure Introduction • Bursa Malaysia requires large publicly traded companies to lodge their unaudited financial statements within 2 months of fiscal year-end and full financial statements within 4 months • Business continues during this “subsequent period” and events could take place that have an impact upon the firm’s financial statements for the preceding year • These events are referred to in the accounting literature as subsequent events or post-balance sheet events. Introduction • The IASB has released IAS 10, dealing specifically with the accounting for subsequent events. • IAS 10 requires that companies adjust the reported amount of assets and liabilities if...
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...TRANSMILE GROUP BERHAD (Company No. 373741-W) A N N UAL R EP O R T 2012 Corporate Information ... 2 Corporate Structure ... 3 Chairman’s Statement ... 4 Directors’ Profiles ... 6 Financial Statements ... 8 Analysis Of Shareholdings ... 66 contents Notice Of Annual General Meeting ... 68 Proxy Form ... Enclosed Corporate Information Board Of Directors Liu Tai Shin Chairman/Managing Director Auditors KPMG (AF 0758) (Chartered Accountants) Mohd Lutfi bin Mat Lazim Krishnasamy A/L Rengasamy Tan Teong Boon Level 10, KPMG Tower 8, First Avenue Bandar Utama 47800 Petaling Jaya Selangor Darul Ehsan Company Secretaries Chua Siew Chuan (MAICSA 0777689) Chin Mun Yee (MAICSA 7019243) Registered Office Transmile Centre, Cargo Complex Sultan Abdul Aziz Shah Airport 47200 Subang Selangor Darul Ehsan Tel : 03 7884 9898 Fax : 03 7884 9899 Website : www.transmile.com Share Registrar Securities Services (Holdings) Sdn Bhd Level 7, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Tel : (03) 2084 9000 Fax : (03) 2094 9940 / 2095 0292 Principal Bankers CIMB Bank Berhad Standard Chartered Bank (M) Berhad Malayan Banking Berhad 2 Transmile Group Berhad Annual Report 2012 Corporate Structure TAS 100% TMGT 100% TA (SPV) 100% TGB (SPV) 100% TSSB 100% KKSB 100% CEN 57.5% KM 45% CG 37.8% VCSB 100% TAV 100% GTSB 100% CWSB 100% CTSB 50% TAS VCSB TAV TMGT TA (SPV)...
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... Consolidated and Separate Statements of Comprehensive Income Exhibit 5(a) Consolidated SOFP Exhibit 5(b) Separate SOFP Exhibit 6 Consolidated SOCIE Exhibit 7 Separate SOCIE Exhibit 8 Consolidated and Separate SOCF Exhibit 9 Disclosure about Reporting Date Exhibit 10 Acquisition Method of Business Combinations Exhibit 11 Comparisons of Investment in Subsidiaries of 2 years Exhibit 12 Goodwill as Intangible Assets and Computations Exhibit 13(a) Goodwill Recognized on Acquisition Date Exhibit 14 Goodwill shown in Intangible Assets Exhibit 15 Investment in A Joint Venture Exhibit 16 Equity Method of Joint Venture Exhibit 17 Adjustments to CSOFP for MFRS 11 Adoption Exhibit 18 Adjustments to CSOCIE & CSOCF for MFRS 11 Adoption Exhibit 19 Adjustments to SOFP, and SOCF for MFRS 11 Adoption Exhibit 20 Summary of Financial Information...
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