©, > FACULTY OF ACCOUNTANCY BACHELOR OF ACCOUNTANCY (HONS) FINANCIAL REPORTING (FAR510) GROUP REPORT ASSIGNMENT TOPIC: PUBLISH ACCOUNT COMPANY: RAINBOW BHD (PUBLIC LISTED COMPANY) PREPARED BY: No. NAME MATRIC.NO | GROUP 1. NUR FARHANA BINTI MOHD YUSOF 2022816052 | JAC2203D NURQURAISHAH BINTI MOHAMMAD TAMIZI | 2022844556 | JAC2203D NUREEN SYAZWINA BINTI SAJANI 2022801116 | JAC2203D NUR ATHIRAH BINTI MAHDIR, | 2022844286 | JAC2203D alels PREPARED FOR: MADAM FATIN NABIHAH ‘SUBMISSION DATE: 25 JANUARY 2023 Scanned with CamScannerNo. Date: Based one — | 3 1 ne_vev fand =} vev. 09 si i ————amounring to _amace ooo of me Foir Value 1S higher taan_ecwrying ——__— mount (RM31q00 000 ~ kM31600 000)+ The surplus beet recog nis) Ine | 56 wv Reserve C4ak) «The revaty Smoust—of RM 11900 000 1s\deemed 40 bathe carrying val u Sad om 1 1) tye Journcll_Enifes tercuing 40 veveiluafinn of the Buin Coreying Amount = 8M 60,009 a9 - Rm 10,000; 000 F + aM SO 600 ,o00 Asset | Revatotian peserue : 8M SISOO 00 - em $n 000000 = Rm 1 S00 000 Journal ennies : Particulor debst CPm) crea CRM) buileing 1500,000 ASSe4 Revalvohon Reser e S00, 000 SOpL - Faw yalue 1,009 ,o09 —|__Seprevarion for the Y0Qr af auiling = Rms a ogo /3fy Gf TOM syne, ang, Journ Debit CAm) Creotit CRM) az Sopl = 2¢ Pregaron 2/060,000 ima Fy Accumulated depret ation 47060,006 Aru Scanned with CamScannerDate ; | 4:1) based on (22, exatorn the account A ie L properties + On | _ponvery soar, shee wos _o tonsfer_srom MRI 190 Investment Property (ip) tO MFRS 16 Property » Plant and Equipment (PC): there wa fhange fn use from rented out Yo we os an administrate purpose the deened cost OF PPE as at that dare Wa! fav value of Pm2,100/00 0 At for Invetiment | property, 4 was using the torr value on mode! the dprorence between the Comying Amount of Rms1000 000 and she por value ot Rin 21100 ,000 Woy gatp, Raw valve of am 1,000,000 and tonil be recognived a! income jn Jopt- _aptor the transfers the PPE Mf using 1he fevaluaton “model, Ppe be de, | Jy 2033 Omounting £0 8 4,000 CRmsfoo, 000/ 354) any Witt be expensed injo rope ©) bosed on 63). expionn the accounting trectm ent Of the equipment ‘| On idanuory 202) tho equipment Cun he Clastfied aya neg= oni _asiel held for vdie gs TH ca*ying omauné wtll a be recovered prinepouy through a sale fransocsicn tviner than J las dhe orfeTa op avaioble yor i remeniate Ole Ond dhe vole M biGhY probople~ “the eaupment t Ube meorured al the ower of carrying amount org fatr i vatue toss carr vo vel» ond he depretiaien on equpment 4 be reoved + Fas ib Scanned with CamScannerwortind * ost AOn-aurrent aiet hel for sole amlos000/ 000 Accumulated poprec.awon eawpment + fm 6 1000 100.0 corrymg amount = gm 10 000,000 - pm 61000900 ~_bm, 4,000 ,00¢ Fak vaiwe fost cost fo tell = 2M 415007000 ~ pm F 00 008 tRm31fo0 +000 104s on impairment = #4 1000-009 - Rm 31400 00% = Rm 200,000 The owe Carrying “Amount ond fair votve lost colt fo dell sinte the valuo of Carrying Amoynt More thon Fatt valve Cort colt jose, there N_on impetrment joss - The Valve Of Yhe Jmpatrment lost) was km 200/000 (khm4s000,000 - RM do, 000) | Based on ¢4) * yhow tho relevant yournat Deferred Income (hi) method = Deprenaiiop of New equipment = Rm2,000,009 ly + CHa 2 200,000 ¥6//2 = km 100 000 bogerred IMoma = Goverment Gront = 2msoo ogo > 50/000 * 64/2 RMIT 1009 toy x 6/2 Fes Scanned with CamScannerNo ft] 3032 [oct rem [ Cream com>] ew Coupment 21000006 1000, ronory thare 24000, 000 =f Sonk §001000 * 7 £00 1000 Sope = beprecor on 1 | 204 006 —___|__ Accumutated’ ‘Oepre torton 1001000 | hefered income = Gavermeny grant | 90-000 2 —OPt * Government Grant —- 25/000 based on Cs), caltucade the yolowng: —Y_Impan ment /0ss 1A 300f (artumg amount ay ot }3ons!> cost ~ Accumuiated — Deprewaton 2AM 4 000,009 - CRM 31090, goa prey)2 = 2M 3.1060/000 «| am 600 ,000 >Rm 3/400 19°49 I I powpont 1005 CA >RA = AM 9/900,000% Rm 5600 000 =m 406,000 1) conrecoton for she year 3002 * #3 4000,000 ~ Rm FS0,000 ~2M 400,000 (aay at W121 = Rm 1750, 000 / ay Cloy - 34) = Rmaso,000 Pas Scanned with CamScannerNo. n Date: DOurnay _enitfey * POH CUO bebst- Cam) Credit cam) Mont = be predotign 2407000 Accumulated popredanan |, 250 1000, MM) Corrysng amount Wwrhout Impanment evs | 2 @St = Accumurated bepreuarion 7 RM 3) 0007000 - ¢amI00'40G * Fy ) C20/q - 9092) = RM 3s000;0¢9 - km 1200, 000 ~ em !itgorooe ¥) Reverso! of Impatrment /oyt fy 202% ant gwrhaf Enmiet mou level > RM _/1 # 0%,000 A_o1 at SI /}e/ 592, 180.000 ~ ASO 00g > Bm 1600, 200 Reredyiby 2 £m 1,800,008.,.- Rm 100 1000 > fm 300000 Enrh et : beast cam) |Creart Cem) Accumulated impayrment Jovy 4007000 1 Atcumuj ate bopreeratran #09 1006 0 foptL - Revers 300, 000 Paw Scanned with CamScannerDate: hi _inievest On debenguve = am qyouo,009 % $4: + um 4801000 km Rr | SOPL = inqevest OM debenture 450/000 | Reena” pasiett [ae oc | osc = rmzar000 7 Rma-00 + 36,0007 000 unite ardinary dnidend + 3¢6,000/000 * Rmo-o2 = Am 130/600 km Rm Retained profit 130/000 pyidend payable 420/000 Asia’ dividend payable = current yoor dividend + Final year aMdend 5 Rm 10001006 = bm730, 000 = 8m 11990, 00 G|_ rox chowged * Fmt 100 1000 OX paid > km 11 000 1 000 Jax_peyable RmIOG 1000 Pas Scanned with CamScannerNo. Bi) | Stotoment of Pratt! or Loss and Other Comprehensive Income for the year ended 31 i December 2032. Rambow Bhd SHdlement of Profit or Loss and OC! for the year ended 3 December 2022. RM Sates 46 , 228,000 Cost OF Sales (20,5 42,000) Grross_ Profit 26,136 {2 Gthey_Income CReversal_imesivment (oss M306, 000 + pgso , 000 Rental Income ) 650,000 Gain on FY chonge IP 100 000 23,051,000) Adminisivative expenses Cay Selling ond distribution expenses cw!) (2.1160, 0007 Profit” from _oporation 1,675,000 Finaince__costs Cw) uso, 000) Investment Income 130, 000 Prottt_betore tax 1,405 ,000 Income +ax expenses ‘[crto0 10007 Net profit otter tax 305,000 Oiher_comprehensive_income Suyplus_on vevalyation gf land (Rms00, 000) 200,000 Suyplus_on feyaluation of building $60,000 Toia! comprehensive income 4, 1051000 i Scanned with CamScannerNo. wal) enn eM am [es Admin s 80 Finance As por 1/6 [11,836,000 _| 2, 160,000 Depreciation : euilding 2, 140, 000 Equipment 7,600,000 machine 2 50,000 Loss_on Imgairment - machine Yo0,000 LL Loss on _Impairmen’ - patent G00 , 000, NeAHES ~ loss on impairment 200,000 Government _gyant 25,000 Interest on debenture accrued es 450/000, Tora 231051,000 _| 2, 160, 000 | 4s0,000 A \— ot Scanned with CamScannerNo. i) Rainbow Bhd Stefement of Financial Posifion at af 31 december 2022 mH mA Non~current Assets Property , Plant and Bquipment (21,400,000 + 50,460,000 + '27200,000 + 1,400,000) 86,260 ,000 Tnvestment property 2,100,000 Intangible _Asted C3,000,000 -G00,000) 2/400 /000 Tavestments 20001000 92,760 ,000 Current Astets Dnventprier 1,548,000 Trade receivables 4,024 , G00 Bank (4,326, 400 + 500,000) F, B26, 400 Accrued rental income 50,000 13,144 ,000 Non-curtent queef held for Sake ‘3, 800,000 ToTA4 ASSETS 109 , $34,000 Equity Share capital 74,000,000 Retained egenings 1,139,000 Other reserve 3,000,000 FY 139,600 Non-current Liabilities 5h Oebenture 100,000 Government gort 4501000 41450,000 Current Livbikies is Goernment grant 25/000 Track * payables 561,600 Aecrued _ingtrest on debentyres 450,000 Oivivend paysek 90/000 Accrued expenses 296, 400 Tax payable 100,000 Account payable 3,068,000 6, 150/000 Tom Eaury 2 LineiLiTies 109,734,000 = \~ ot Scanned with CamScannerNo, Date ii) Rainbow Bhd Steiement of Changes equity Br the gear ended 31 decenber 2022 ose Bio PSC RE ARR GE RM RM an RM RM At | April 2021 42,000 ,000 1,704,000 | 21700/000 Prof for the year 1;105;000 Tssve_hew Share | 2,000,000 Current year error 50,000 Crecrued rental incone)} © Surplyt Land 300/000 Dividend (720,000) _[ As 4f 81 March 2022 | 54,000 000 = 1#,13q,000 | 3,000/000 = Are Scanned with CamScannerNo. wv)! Nolet ty the account — Property , Plant are Bqipment Land Building] Plart [Equipment | mackine oy RM a RM Cost/valuaton As at |Sanvary 20a] 21,600,000 | 60,000,000 ° ‘4,000,000 | 2/000/000 Surplus on revgluation: 300/000 500,000 Etimington of AD Oefeit on revalyetion NCAHES 10000 000) A Acqua New 21000/000 equipment Acquistion new 21100/000 uiking AS Qj 31 Decenter 2022] 31,900,000 | Ga, 600,000] oO 32,000,000 | 3,000,000 ‘Accumulefed deprecaa) rs at I Janvary 3022 10,000,000 12,000,000 | €50,000 Charge for the year 2,140,000 1600/00 | 250,000 Etmniarbon of AO ‘C100,000) INCHES €6900,000) Disposal component a Reversal of 2L 300,000 AS Gt 3] December don - 12,140 000 * 14,600,000 | 1,300,000 ‘Accumulated inpeirmert| AS at [danuaryaon 400 000 Chaige for the year 200/000 Reversal PL 400/000) AS at 31 December 20-0] 200/000 = Carrying qmourt | 31,400,000 | 50, 460/000 - 12200/000 | 117400,000 Torr _PPE i LA 86 ,260000 Fes Scanned with CamScannerNO. a Date: ie Rofios t. Gross _progit Margo = Grow prog) / Soles = 267'36, 000 / 46,73§1000 x loo7. > SS- 937. Ned profit maraln = 308,000 /46173$1006 2 6&s3 Cuvvens roitO = curvent asset. / curvens liabilities = 13107197006 I 6:1S0;000 sath @urck rorho = Crash + eauivalent t account receivable) / auwent Wabitities > C4 1024,600 +71,82¢/400) | 610/000 2193 Aas Scanned with CamScanner