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STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR
ENDED 31 DECEMBER 20x2
RM’000 MFRS/Remarks
Revenue xxx MFRS 15
Cost of sales (xxx) MFRS 102
Gross profit xxx
Other income xxx Gain on derecognition/disposal (MFRS116/
/MFRS138/MFRS140),
Gain on foreign exchange difference (MFRS121),
Gain on Fair value change of IP (MFRS140),

Administrative (xxx) These expenses/costs are explained/covered in the respective

standards in FAR160/FAR210/FAR270. Examples:
expenses Depreciation expense (MFRS116/MFRS140),
Amortisation expense (MFRS138/MFRS117),
Subsequent expenditures on PPE/IP/IA
(MFRS116/MFRS138/MFRS140),
Loss on foreign exchange difference(MFRS121),
Loss on derecognition/disposal (MFRS116/ /MFRS138/MFRS140),
Loss on Fair value change of IP (MFRS140),
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Deficit on revaluation (MFRS116/MFRS138)
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE
YEAR ENDED 31 DECEMBER 20x2
RM’000 MFRS/Remarks
Selling and (xxx) These expenses/costs are explained/covered in the
Distribution Cost respective standards in FAR160/FAR210/FAR270.
e.g. depreciation expense (MFRS116/MFRS140),
subsequent expenditures on PPE/IP/IA
(MFRS116/MFRS138/MFRS140),
Investment income xxx e.g.interest & dividend income
Operating Profit xxx
Finance costs (xxx) e.g Redeemable preference dividends, interest
expense, bank charges etc
Profit before tax XXX
Income tax expense (xxx)
Profit for the year XXX
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STATEMENT OF PROFIT OR LOSS AND COMPREHENSIVE INCOME FOR THE
YEAR ENDED 31 DECEMBER 20x2
RM’000 MFRS/Remarks
Other comprehensive income: xxx
Surplus on revaluation xxx MFRS 116,MFRS138
Total profit or loss and other XXXX
comprehensive income

POINT TO NOTE:
FOR FAR270 SYLLABUS:
GAIN/LOSS ON FOREIGN EXCHANGE DIFFERENCE (MFRS121) and
GAIN/ LOSS ON FAIR VALUE CHANGE OF IP (MFRS140) COULD ALSO BE
DISCLOSED SEPARATELY AS LINE ITEMS

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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20x2
Non-current assets PREVIOUS RM’000 MFRS/Course
COVERAGE
Property, plant and equipment FAR160/FAR210 xxx MFRS 116, MFRS 123,
Investment property xxx MFRS 140/FAR270
Intangible assets (excluding xxx MFRS 138/FAR270
Goodwill)
Investments FAR160/FAR210 xxx
Fixed Deposits xxx
Total Non Current Assets XXX

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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20x2(cont’d)
Current assets PREVIOUS COVERAGE RM’000 MFRS/course
Inventories FAR 110/ FAR 160/ FAR 210 xxx MFRS 102
Trade receivable (net of FAR110/FAR160/ FAR210 MFRS 132 &139
Allowance for Impairment) Allowance Mtd
Contract Asset MFRS 15
Other receivable, deposits FAR 110/ FAR 160/ FAR 210 xxx MFRS 132 &139
and prepayments
Tax recoverable FAR 160/FAR 210 xxx
Cash at bank and in hand FAR 110/FAR 210 xxx
Accrued Income FAR 110/ FAR 160/ FAR 210 xxx MFRS118/FAR270
Total Current Assets XXX
TOTAL ASSETS XXXXX
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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20x2 (cont’d)
EQUITY AND LIABILITIES PREVIOUS COVERAGE RM’0 MFRS/covered
00
Share capital FAR160/ FAR210 xxx

Reserves FAR160/FAR210 xxx

Total Equity XXX
Non-current liabilities
Long-term borrowings FAR160/FAR210 xxx MFRS139
(Debentures/loan stock)
Redeemable Preference Shares FAR160/FAR210 xxx MFRS 139&132
Long term bank loan xxx

Provisions for ............... xxx MFRS 137/FAR270

Total non current liabilities XXX

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STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20x2 (cont’d)
Current liabilities PREVIOUS COVERAGE RM’000 MFRS covered

Trade payables FAR160/ FAR210 xxx MFRS 139&132

Other payables & accruals FAR160/ FAR210 xxx MFRS 139&132
Contract Liability MFRS 15
Short-tem debts/loan FAR110/FAR160 xxx
Provision for……………. xxx MFRS 137/FAR270
Tax payable FAR160/FAR210 xxx
Total current liabilities XXX
Total equity and liabilities XXXXX

Other areas/MFRS covered in FAR 270 not included in the items above:
MFRS 108 Accounting Policy, Error and Changes in Estimates
MFRS 121 Changes in foreign exchange rates
MFRS 101 Presentation of financial statements
MFRS 110 Events After Reporting Period 8
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31
DECEMBER 20X2
Asset
Ord Preference Revaluation Retained General Total
Shares Shares Reserve Earnings Reserve

Balance b/d 1/1/x2

Prior Year Adjmt:
Error
Changes in Actg policy
Restated opening balance
b/d 1/1/x2
Other comprehensive
income - Revaluation surplus
on property
Profit for the year
DIvidends

Balance b/d 31/12/x2

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 SOPL& SOCIE
OCI

SOFP NOTES TO THE

PUBLISHED FINANCIAL
ACCOUNTS STATEMENTS

PREPARATION OF THE FINANCIAL STATEMENTS WILL INCORPORATE

ADJUSTMENTS THAT HAVE BEEN COVERED IN FAR 110&FAR160 & ALL
MFRSs COVERED IN
FAR 160,FAR210 & FAR 270

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• Has the question taken up the items in the additional
information?
– Depreciation expense, amortisation expense,
subsequent cost, bonus issue, rights issue etc.
Tips:
1. Look at the date of the balances in the trial balance.
2. In the absence of information in (1) above, the
additional information will tell you.

• When answering the published account question, should I

start with a SOPL, SOCIE then followed by SOFP and
Notes to the FS or should I prepare them concurrently?

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• in determining the amounts in the SOPL,
SOCIE and SOFP provide proper workings:
– administrative expenses, selling and distributive
expenses, finance cost, property, plant &
equipment, intangible assets, investment property.
• each adjustment requires double entry for
each event.
• do not exceed the time limit.
• do not attempt to balance the SOFP as it is a
waste of time.
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