FAR620: Sakura Bhd is an importer and distributor of high-quality frozen food products for the Malaysian market: Consolidated Financial Statements Assignment, UiTM, Malaysia
| University | Universiti Teknologi MARA (UiTM) |
| Subject | FAR620: Consolidated Financial Statements |
Sakura Bhd is an importer and distributor of high-quality frozen food products for the Malaysian market. In the year 2021, the company won a 25-year contract to provide catering and related services at the Kuala Lumpur International Airport. Sakura Bhd, Itachi Bhd, and Hinata Bhd entered into an agreement to jointly control Midori Bhd. Sakura Bhd has a 38% interest in Midori Bhd.
Itachi Bhd and Hinata Bhd respectively own 32% and 30% interests in Midori Bhd. Based on the agreement, any changes to the relevant activities of Midori Bhd require at least 75% agreement from the venturers. Puan Aisyah and Encik Michael are accountants of Sakura Bhd. They contemplate applying MFRS10 Consolidated Financial Statements, MFRS11 Joint Arrangements, and MFRS128 Investments in Associates and Joint Ventures in preparing the group financial statements.
Disagreement arises when Puan Aisyah proposes to apply the acquisition method in accordance with MFRS 10 for the investment in Midori Bhd as Sakura Bhd owns the majority interest in Midori Bhd meanwhile Encik Michael advises applying the equity method under MFRS 128.
Discuss your opinion on Puan Aisyah and Encik Michael’s views related to the above issue with reference to the relevant MFRSs.
Apart from acquiring enough ordinary shares in the investee company, discuss two (2) other ways to control an investee company.
Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.
Get Help By Expert
At Malaysiaassignmenthelp.com, we understand the importance of submitting high-quality coursework on time. That's why we offer professional coursework writing services to students in Malaysia. Our team of expert writers are highly qualified and experienced in various academic fields, ensuring that your coursework is written to the highest standard. Don't let coursework stress you out - let us take care of it for you! Contact us today to learn more about our assignment help services.
Recent Solved Questions
- Explain the history and journey of the regulatory framework governing the financial reporting practices in Malaysia: Accounting and Finance Assignment, SU, Malaysia
- The distinction between intention and recklessness has been made clear in case law: Criminal Law Case Study, UniKL, Malaysia
- BAGB1023: You are required to prepare a Change Management Plan for the Company: Organizational Behaviour Assignment, UIU, Malaysia
- You have to select the latest annual report of any one of listed company in Malaysia: Financial accounting and reporting 1 Report, UPM, Malaysia
- In this laboratory practical, students are required to separate and purify unknown compounds of a given sample mixture using appropriate: Bachelor of Science in Analytical Chemistry Report, TARC, Malaysia
- Sustainability refers to the development that caters to the needs of the existing generation without sacrificing: Sustainability Report, SU, Malaysia
- In June 2020, the European Union adopted the ‘consumer protection’ directive. The Directive provides that consumers: European Union Law Course Work, UOL, Malaysia
- G1N2: A coffee manufacturer has recently been prosecuted for selling an underweight 100g jar of coffee: Business Mathematics Assignment, UBir, Malaysi
- You are tasked to demonstrate the feasibility and complexity of the IATA information system in terms of the data structures to be deployed for their operations and database storage: Data Structure and Algorithm Report, MUM, Malaysia
- The pre-qualifying and qualifying stages of the personal selling process are very important. These stages help sales: Professional Sales Assignment, MSU, Malaysia
