FACULTY OF ADMINISTRATIVE SCIENCE AND POLICY STUDIES

(FSPPP)

BACHELOR OF CORPORATE ADMINISTRATION (HONOURS)

(AM225 5B)

ADVANCED FINCANCIAL ACCOUNTING AND REPORTING

(ACC 506)

REPORT PART I

PREPARED BY

NURUL FARHANA BINTI ABDUL HADI 2016559107

NOR AIENNIENATULNISA BINTI NOOR AZHAR 2016718518
SITI HADHILA BINTI HAMZAH 2016338613
NUR AISYAH BINTI AHMAD 2015115185
NUR AMALINA BINTI MOHD FAUDZI 2015115221

PREPARED FOR:
PROF MADYA NORYATI BINTI MD NOOR

SUBMISSION DATE:

4TH MAY 2018

 TABLE OF CONTENTS

CONTENT PAGE
1.0 Working 1-2
2.0 Statement of Changes in Equity 3
3.0 Statement Profit or Loss and other 4

Comprehensive Income
4.0 Statement of Financial Position 5-6
5.0 Note 7-9
1.0 Working

RM RM RM

Administration Distribution Finance

Carriage Outward 8,600

Salaries and Wages 149,200

Auditors Fee 24,000

Directors remuneration 180,000

Utilities 5,600

Insurance 31,200

Increase in Allowance for Doubtful Debt 2,502

Amortized Patent 25,000

Discount Allowed 2,300

Depreciation of Building 39,500

Depreciation of Plant and Machinery 65,000

Advertising Expense 46,700

Salesmen Commission 18,000

Depreciation of Motor Vehicles 22,500

Interest on Debenture 15,000

Interest on Bank Loan 9,600

532,902 87,200 24,600

1
Calculation for Taxation : 24% x RM485,000
= RM 116,400

Depreciation : Building 2% on cost

Plant and Machinery 10% on cost
Motor Vehicle 10% on cost

2
2.0 Statement of Changes in Equity
Nu’man Bhd
Statement of Changes in Equity for the Year Ended 31 March 2018

Ordinary 8% Share Retained General

Shares Preference Premium Profit Reserve
Shares

Balance 1,380,000 2,250,000 450,000 515,000 281,250

Beginning

Profit after tax 478,898

Bonus Issue 450,000 (450,000)

Interim Dividend –
Preference Share (90,000)

Interim Dividend –
Ordinary Share (69,000)

Final Dividend –
5% Preference (90,000)
Share

Final Dividend –
6% Ordinary (82,800)
Share

Additional Share 200,000

Capital

Balance End 2,030,000 2,250,000 0 662,098 281,250

Final Dividend for Preference Shares : 5%

Final Dividend for Ordinary Shares : 6%

3
3.0 Statement Profit or Loss and other Comprehensive Income

Nu’man Bhd

Statement of Profit or Loss and other Comprehensive Income for the year ended
31 March 2018

RM RM

Turnover / Sales 1,792,000

Cost of good sold (708,700)

Gross Profit 1,083,300

Other Operating Income 4,200

Total Operating Income 1,087,500

Administrative Cost (532,902)

Distribution Cost (87,200)

Profit from Operation 467,398

Finance Cost : (24,600)

Investment Income 152,500

Profit before Tax 595,298

Taxation (116,400)

Total Comprehensive Income 478,898

Earnings per share 0.16 sen

4.0 Statement of Financial Position

4
 Nu’man Bhd

Statement of Financial Position as at 31 March 2018

RM RM

Non-Current Assets

Property, Plant and Equipment 4,450,350

Investment 689,000

Total Non-Current Assets 5,139,350

Current Assets

Closing Inventory 168,000

Bank 516,000

Account Receivables 122,598

Total Non-Current Assets 806,598

Total Assets 5,945,948

Finance by: Share Capital 4,280,000

Reserve 943,348

Non-Current Liabilities

6% Bank Loan 160,000

Total Non-Current Liabilities 160,000

5
Current Liabilities

5% on Debenture 300,000

Accrued Interest on Debenture 1,250

Accrued Interest on Bank Loan 1,600

Tax Payable 19,550

Account Payable 67,400

Dividend Payable 172,800

Total Current Liabilities 562,600

Total Liabilities and Equity 5,945,948

5.0 Note

Plant, Property and Equipment

6
 Land Building Plant and Motor Vehicle
Machinery

Balance 1,974,850 1,975,000 650,000 225,000

Beginning

Balance End 1,974,850 1,975,000 650,000 225,000

Accumulated
Depreciation

Balance
Beginning - 45,000 135,000 67,500

Depreciation - 39,500 65,000 22,500

- 84,500 200,000 90,000

Carrying Value 1,974,850 1,890,500 450,000 135,000

Note: Intangible

Patent

Balance beginning 25,000

Amortization 25,000

Note: Operating Profit or Profit Before Tax

Depreciation 127,000

7
Amortization 25,000

Directors Remuneration 180,000

Interest on Loan 9,600

Interest on Debenture 15,000

Auditor Fee 24,000

Investment Income 470,500

Note: Earning per Share

EPS: PAT – Total Preference Share Dividend

Number of Share

= 478,898 – 180,000

1,380,000 + 450,000

= RM 0.16 cent

EPS of RM 0.16 cent is calculated by dividing earning of ordinary shareholders by the

number of ordinary shares outstanding.

Note: Capital Commitment

A contract to build an office building for RM 2 million was signed. The project will start on 1st
April.

Note: Dividend

Interim Dividend Final Dividend

8
Ordinary Shares 69,000 82,800

8% Preference Shares 90,000 90,000

159,000 172,800

Note: Investment

Cost Market Value Directors Valuation

200,000 760,000 NIL

Quoted Investment

489,000 NIL 489,000

Unquoted Investment

689,000 NIL 489,000