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MASB 1 and FRS 101 disclosures in financial accounts of two companies

   

Added on  2020-05-16

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Running head: FINANCIAL ACCOUNT REPORTINGFinancial Account ReportingName of the Student:Name of the University:Author’s Note:

ACCOUNTING FINANCIAL REPORT1Executive SummaryThe main purpose of this assignment is to analyze the financial reports of two companies andcomment on the fact whether such companies are showing appropriate disclosure of the MASB1and FRS 101. The two companies which are selected for the purpose of this assignment areAHB Holdings Berhad and Astino Berhad. The report will be analyzing the disclosures of thecompany with relation to MASB 1 or FRS 101. The report will be analyzing if there isconformity with MASB 1 or FRS 101 in the financial reports of both the companies.

ACCOUNTING FINANCIAL REPORT2Table of ContentsIntroduction......................................................................................................................................3Overview of the Company...........................................................................................................3Detailed Analysis of MASB 1 and FRS 101...................................................................................3Analysis of Financial Reports of AHB Holdings Berhad................................................................5Analysis of Financial Reports of Astino Berhad.............................................................................6Conclusion.......................................................................................................................................7Reference.........................................................................................................................................8Appendix........................................................................................................................................10

ACCOUNTING FINANCIAL REPORT3IntroductionThe main purpose of this assignment is to analyze the financial reports of the companyAHB Holdings Berhad and Astino Berhad and comment on the disclosure requirements of thecompany (Weygandt, Kimmel & Kieso, 2015). The analysis will be focusing on the disclosurerequirements as per the standards MASB 1 or FRS 101.Overview of the CompanyAHB Holdings BerhadAHB Holdings Berhad is an investment based companywhich has its headquarters inMalaysia and the company was founded in 1965. The company is engaged in the process ofmaking interior products for companies like office furniture, computer appliances and otherinterior designing stuffs. The company has developed worktops for computer which can be usedin offices and which is also called System Tx. The company has various subsidiaries some ofwhich are AHB Technology Sdn. Bhd., AHB Marketing Sdn. Bhd., Create Space Sdn. Bhd. Asper the financial reports of the company as on 2017, the company has a net profit after tax of theamount of $ 513,644. The cash inflows for the year from all the activities as shown in the cashflow statement is $ 23729("AHB Group of Company", 2018).Astino BerhadThe company was established in the year 2000 and the listing of Astino Berhad on BursaMalaysia in the year 2003. The company has it headquarters situated in Malaysia. The companyis engaged in manufacturing of metal roofing sheets and also other building materials. As per thefinancial report of the company the net profit of the company as shown is $ 34445330. The netcash inflow of the company as per the cash flow statement of the company shows that there is anet cash flow decrease as shown by the negative figure of $ 14083861 (Astino Berhad, 2018).Detailed Analysis of MASB 1 and FRS 101MASB 1 was issued by Malaysian Accounting Standard Board and the standard dealswith the disclosure requirement which are required in a financial report of the company. Theopening paragraph states the scope of the standard which is applicable to each and everycompany for the effective presentation of the financial report (Yaacob & Che-Ahmad, 2012). Asper the standard any financial report should consist a statement of profit and loss, statement of

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