BAC 2634 FINANCIAL ACCOUNTING & REPORTING II

TRIMESTER 1 2021/2022

GROUP ASSIGNMENT

ASSIGNMENT GUIDELINES
1. This is a group assignment. Hence, no individual assignments will be accepted.

2. Each group should have 5 members only and MUST be from the SAME lecture
section. Please appoint a group leader for each group. Group leader is
responsible for managing the group and to ensure that each member complete
the task given.

3. Submission requirements:

Please use the attached cover page template and

include the group member’s declaration as per
Cover page Appendix A

Typeface/Font Times New Roman

Font size 12
Line spacing 1.5
Top: 2.54 cm; Bottom: 2.54cm;
Margins
Left: 1.91cm; Right: 1.91cm
Reference format APA Style
File type PDF
3500 words (excluding words in charts & tables and
Word limits
in the appendices section of your report.)

4. Marks will only be given to those whose names are on the assignment cover page.
Please ensure that your name and student ID number are on it. Those whose names
do not appear on the assignment cover page will automatically be assumed to have not
submitted the assignment.

5. For group member that do not participate in the group assignment, the group leader
has the right not to include his/her name in the assignment cover page.

6. Any act of plagiarism is a serious academic offence and you may get an F grade for
your paper.

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SUBMISSION

1. Due date for this assignment is on Week 12, 22/10/2021 (Friday) before 12 noon.

2. Late submissions will cause deduction of marks.

GRADING

1. The lecturer will examine the thoroughness of your work and the presentation of your
assignment i.e. content, format, grammar, etc.

2. The total marks for this assignment is contributed 20% towards the total grade of the
course. Make sure you do it well.

Mapping of assignment learning outcomes to subject learning outcomes:

Assignment’s Learning Outcomes Subject Learning Outcomes

Upon completion of this assignment, Upon completion of this subject, students
students should be able to: should be able to:
1 Apply the principles laid down in the IFRS LO1 Construct the financial statement
and MFRS in the preparation of financial presentation for companies based on
reports for companies approved standards

2 Prepare various aspects of disclosures in LO2 Apply the accounting principles in

the financial reports for companies and recognition and measurement of
apply the accounting principles in elements in financial statement,
recognition and measurement of including inventories, intangible assets,
elements in financial statement. investment property, revenue,
borrowing costs, cash and equity
3 Ability to communicate effectively

Assessment rubrics:

Score Content Presentation

15 marks 5 marks
80% -  Demonstrate complete  Well organised
100% understanding of the problem  No grammatical or structural
 Original contribution errors
 Clear evidence of creativity  Good formatting
 All requirements are included.  Report is prepared in a
professional manner
 All references are properly
included
 All submission requirements are
met
60% - 79%  Demonstrate sufficient  Well organised

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 understanding of the problem  Minimal grammatical or
 Original contribution structural errors
 Some evidence of creativity  Proper formatting but not
 All requirements are included. outstanding
 Evidence that report is carefully
and thoughtfully prepared
 All references are properly
included
 All submission requirements are
met
40% - 59%  Demonstrate partial  Lacks organisation
understanding of the problem.  Some grammatical or structural
 Some original contributions errors
 Some evidence of creativity  Rather poor formatting
 Most requirements are included.  Lack evidence that report is
carefully and thoughtfully
prepared
 Some references are missing
 Some submission requirements
are not met
20% - 39%  Demonstrate little understanding  Lacks organisation
of the problem  Apparent grammatical or
 No evidence of original structural errors
contribution  Formatting issues
 No evidence of creativity  Evidence that report is carelessly
 Many requirements are not prepared
included.  Some evidence of plagiarism
 Significant submission
requirements are not met
0% - 19%  Misunderstood the problem.  No organisation
 No evidence of original  Apparent grammatical or
contribution structural errors
 No evidence of creativity  Very poor formatting
 Significant requirements are not  Evidence that report is carelessly
included. prepared
 Clear evidence of plagiarism
 Submission requirements are not
met

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Question – Disclosure Requirement on MFRS 15, MFRS 107
and MFRS 138)
Please choose one of the following group of companies and answer the following:

a. A brief history of the Companies selected including the objective of the Companies
(10 marks)

b. From the companies that your group have been assigned, please examine the compliance
performance of the respective MFRSs disclosure requirement according to the checklist
given in Appendix B. (60 marks)

c. Based on your answer in (b), what is the compliance level of each company? Does the
sector of the company affect the compliance level? (30 marks)

Each group has been assigned a set of companies based on the assignment group number
in the google sheet for B1 and B2:

Lecture Group B2
Group COMPANY 1 COMPANY 2 COMPANY 3
No SECTOR – Consumer SECTOR – Technology SECTOR – Industrial
Products and Services Products and Services
1 EASTLAND EQUITY MI TECHNOVATION CENTRAL GLOBAL
BHD BERHAD BERHAD
2 ENG KAH MESINIAGA BERHAD CHIN HIN GROUP
CORPORATION BERHAD
BERHAD
3 EUROSPAN MALAYSIAN PACIFIC COMPUGATES
HOLDINGS BERHAD INDUSTRIES BERHAD HOLDINGS BERHAD
4 ESTHETICS MSCM HOLDINGS CAN-ONE BERHAD
INTERNATIONAL BERHAD
GROUP BERHAD
5 EMICO HOLDINGS NOTION VTEC BERHAD COMFORT GLOVES
BERHAD BERHAD
6 FORMOSA PROSONIC OMESTI BERHAD CSC STEEL HOLDINGS
INDUSTRIES BERHAD BERHAD
7 FIAMMA HOLDINGS PENTAMASTER CHEMICAL COMPANY
BERHAD CORPORATION OF MALAYSIA
BERHAD BERHAD
8 FRASER & NEAVE PRESTARIANG BERHAD CHOO BEE METAL
HOLDINGS BHD INDUSTRIES BHD
9 FCW HOLDINGS THETA EDGE BERHAD CN ASIA
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 BERHAD CORPORATION BHD
10 FEDERAL TRIVE PROPERTY CAHYA MATA
INTERNATIONAL GROUP BERHAD SARAWAK BERHAD
HOLDINGS BERHAD
11 GREENYIELD TURIYA BERHAD CYPARK RESOURCES
BERHAD BERHAD
12 GUAN CHONG UNISEM (M) BERHAD CONCRETE
BERHAD ENGINEERING
PRODUCTS BERHAD
13 G3 GLOBAL BERHAD UWC BERHAD CME GROUP BERHAD

Lecture Group B1
Group Company 1 Company 2 Company 3
No Sector – Consumer Sector – Technology Sector – Industrial
Products and Services Products and Services
1 BRITISH AMERICAN CENSOF HOLDINGS ABM FUJIYA BERHAD
TOBACCO BERHAD
(MALAYSIA)
BERHAD
2 BONIA ARB BERHAD AE MULTI HOLDINGS
CORPORATION BERHAD
BERHAD
3 BERJAYA LAND DATAPREP HOLDINGS AJIYA BERHAD
BERHAD BHD
4 BERJAYA SPORTS DAGANG NEXCHANGE ALCOM GROUP
TOTO BERHAD BERHAD BERHAD
5 BERJAYA FOOD D&O GREEN AMALGAMATED
BERHAD TECHNOLOGIES INDUSTRIAL STEEL
BERHAD BERHAD
6 BERMAZ AUTO DIGISTAR ANALABS RESOURCES
BERHAD CORPORATION BERHAD BERHAD
7 CCK DATAPREP HOLDINGS ANCOM BERHAD
CONSOLIDATED BHD
HOLDINGS BERHAD
8 CAM RESOURCES DATASONIC GROUP ANN JOO RESOURCES
BERHAD BERHAD BERHAD
9 CNI HOLDINGS EXCEL FORCE MSC ANZO HOLDINGS
BERHAD BERHAD BERHAD
10 CARLSBERG EDARAN BERHAD APB RESOURCES
BREWERY BERHAD
MALAYSIA BERHAD

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 11 CYCLE & FRONTKEN APM AUTOMOTIVE
CARRIAGE CORPORATION HOLDINGS BERHAD
BINTANG BERHAD BERHAD
12 CAB CAKARAN FSBM HOLDINGS A-RANK BERHAD
CORPORATION BERHAD
BERHAD
13 CWG HOLDINGS GHL SYSTEMS ASTINO BERHAD
BERHAD BERHAD
14 CHEETAH HOLDINGS GRAND-FLO BERHAD ATA IMS BERHAD
BERHAD
15 C.I. HOLDINGS GLOBETRONICS ATTA GLOBAL
BERHAD TECHNOLOGY GROUP BERHAD
BERHAD
16 CARING PHARMACY HEITECH PADU AWC BERHAD
GROUP BERHAD BERHAD
17 CAELY HOLDINGS INARI AMERTRON AYS VENTURES
BHD BERHAD BERHAD
18 DUTCH LADY MILK JCY INTERNATIONAL B.I.G. INDUSTRIES
INDUSTRIES BERHAD BERHAD
BERHAD
19 DKSH HOLDINGS KESM INDUSTRIES BERJAYA
(MALAYSIA) BERHAD CORPORATION
BERHAD BERHAD
20 D.B.E. GURNEY KEY ASIC BERHAD BINTAI KINDEN
RESOURCES CORPORATION
BERHAD BERHAD
21 DRB-HICOM MMS VENTURES BOILERMECH
BERHAD BERHAD HOLDINGS BERHAD
22 GRAND CENTRAL VSTECS BERHAD CHIN WELL HOLDINGS
ENTERPRISES BHD BERHAD
23 GENTING BERHAD VITROX COMPUTER FORMS
CORPORATION (MALAYSIA) BERHAD
BERHAD
24 GENTING MALAYSIA WILLOWGLEN MSC COMINTEL
BERHAD BERHAD CORPORATION BHD

Download their Annual Report for 2020 from Bursa Malaysia website:
(http://www.bursamalaysia.com/market/listed-companies/company-announcements/#/?
category=all)

APPENDIX A

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 Subject Name
Subject code
Companies name

Faculty of Business (FOB)

Group members:
Student ID Student Name
Example. 99523626355 Ali bin Baba (Group Leader)

1.

3.

4.

Declaration by group leader

(This section is to be filled in by group leader’s own handwriting.)

I hereby declare that all group members’ names are correctly included in the above
section. I hold a copy of this assignment which I can produce if the original is lost or
damaged. I certify that no part of this assignment has been copied from any other
student’s work or from any other source except where due acknowledgement is made in
the assignment.

Group leader’s signature : _____________________________

Group leader’s name : _____________________________
Group leader’s student ID : _____________________________
Date : _____________________________

Group member’s declaration

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 (Each group member, including the group leader, must individually fill up and submit this form, in the
student’s own handwriting. This form is to be inserted in the report, in the Appendix)

Group member’s name : ____________________________

Student ID : ____________________________

For the purpose of completing this assignment, I have performed the following tasks
(please list):

I hereby declare that I have assessed the final submission and I take full responsibility
should there be any inaccuracies, incompleteness, omissions, delays or non-submission.

Group member’s signature : ________________________________

Group member’s name : ________________________________

Group member’s ID : ________________________________

Date : ________________________________

Verified by Group Leader :_________________________________

(Signature)

APPENDIX B

MFRSs Disclosure Checklists

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MFRS 107 Statement of cash flows
Yes No NA
Presentation of a Statement of Cash Flow

MFRS 10 Report cash flows during the period classified as operating,

7.10 investing and financing activities.

Direct vs indirect method

MFRS Report cash flows from operating activities under either:

107.18
MFRS a. the direct method, whereby major classes of gross cash receipts
107.18(a) and gross cash payments are disclosed; or

MFRS b. the indirect method, whereby profit or loss is adjusted for the
107.18(b) effects of transactions of a non-cash nature, any deferrals or accruals
of past or future operating cash receipts or payments, and items of
income or expense associated with investing or financing cash
flows.

Offsetting

MFRS Report separately major classes of gross cash receipts and gross cash
107.21 payments arising from investing and financing activities, except to
the extent that cash flows are reported on a net basis in accordance
with MFRS 107.22.

MFRS Cash flows arising from the following operating, investing or

107.22 financing activities may be reported on a net basis:

MFRS a. cash receipts and payments on behalf of customers when the cash
107.22(a) flows reflect the activities of the customer rather than those of the
entity; and
MFRS b. cash receipts and payments for items in which the turnover is
107.22(b) quick, the amounts are large and the maturities are short.

MFRS Cash flows arising from each of the following activities of a

107.24 financial institution may be reported on a net basis:
MFRS a. cash receipts and payments for the acceptance and repayment of
107.24(a) deposits with a fixed maturity date;

MFRS b. the placement of deposits with and withdrawal of deposits from

107.24(b) other financial institutions; and

MFRS c. cash advances and loans made to customers and the repayment of
107.24(c) those advances and loans.

Interests and dividends

MFRS Disclose separately and classified in a consistent manner from

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107.31 period to period as either operating, investing, or financing activities
on the following:
a. cash inflows from interest
b. cash outflows from interest
c. cash inflows from dividends
d. cash outflows from dividends
MFRS Disclose the total amount of interest paid during a period in the
107.32 statement of cash flows whether it has been recognised as an
expense in profit or loss or capitalised in accordance with MFRS
123 Borrowing Costs.

Taxes on income

MFRS Disclose and classified separately cash flows from taxes on income
107.35 and in operating activities, unless they can be identified specifically with
MFRS financing or investing activities.
107.36 If the entity allocates tax cash flows to more than one class of
activity, disclose the total amount of taxes paid

Non-cash transactions

MFRS Investing and financing transactions that are excluded from the
107.43 statement of cash flows because they do not require the use of cash
or cash equivalents (e.g. shares issued as consideration in a business
combination, or acquisition of assets via a finance lease) are
disclosed elsewhere in the financial statements in a way that
provides all the relevant information about these activities.

Components of cash and cash equivalents

MFRS Disclose the components of cash and cash equivalents

107.45

MFRS Reconcile the amounts of cash and cash equivalents in the statement
107.45 of cash flows with the equivalent items in the statement of financial
position
MFRS Disclose the policy for determining the composition of cash and
107.46 cash equivalents

MFRS Disclose, together with a commentary by management, the amount

107.48 of significant cash and cash equivalent balances held by the entity
that are not available for use by the group.

Other disclosures
MFRS The entity is encouraged, but not required, to disclose:
107.50

MFRS a. the amount of undrawn borrowing facilities that may be available

107.50(a) for future operating activities and to settle capital commitments,
indicating any restrictions on the use of these facilities;
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MFRS b. the aggregate amount of cash flows that represent increases in
107.50 operating capacity separately from those cash flows that are required
(c) to maintain operating capacity; and
MFRS c. the amount of the cash flows arising from the operating, investing
107.50 and financing activities of each reportable segment (see MFRS 8).
(d)

MFRS 15 Revenue from Contracts with Customers

Yes/No/NA
MFRS 15.110 Disclose:
The objective of the disclosure requirements is for an entity to
disclose sufficient information to enable users of financial statements
to understand the nature, amount, timing and uncertainty of revenue
and cash flows arising from contracts with customers. To achieve
that objective, an entity shall disclose qualitative and quantitative
information about all of the following:
MFRS 15. its contracts with customers (see paragraphs 113–122);
110(a)
MFRS 15. The significant judgements, and changes in the judgements made in
110(b) applying this Standard to those contracts (see paragraph 123-126)
MFRS 15. Any assets recognized from the costs to obtain or fulfil a contract
110(c) with a customer in accordance with paragraph 91 or 95 (see
paragraph 127-128)

MFRS 138 Intangible Assets

Yes/No/NA
General

MFRS An entity shall disclose the following for each class of intangible
138.118 assets, distinguishing between internally generated intangible assets
and other intangible assets:
MFRS • Whether the useful life is finite/indefinite, if finite:
138.118(a) & amortisation method used, the useful life & amortisation rate
(b)

MFRS • The gross carrying amount & the accumulated amortisation

138.118(c) at the beginning & end of the period
MFRS • The line item of the P&L in which the amortisation of IA is
138.118(d) included
MFRS • Reconciliation of the carrying amount at the beginning &
138.118(e, i, end of the period, showing the movement (addition;
ii & iii ) classified to held for sale; changes due to
revaluation/impairment loss & reversal in equity;
impairment loss & reversal recognise in P&L; amortisation ;
exchange difference)

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