Impairment losses of RM4 million were deemed to have arisen by 30 September 2021 in respect of goodwill of ST Berhad: Financial Accounting Case Study, UON, Malaysia

University University of Nottingham (UON)
Subject Financial Accounting

Financial Position: 

  • Impairment losses of RM4 million were deemed to have arisen by 30 September 2021 in respect of goodwill of ST Berhad. The impairment losses were classified under other expenses account.
  • During the financial year ended 30 July 2021, ST Berhad had sold goods to GD
    Berhad amounting to RM15,000,000. The profit margin is 20% on the selling price Of these goods, one-third remained in the closing inventory of GD Berhad n at the reporting date.
  • ST Berhad sold a piece of machinery to GD Berhad for RM10,000,000 on 1 October 2020. This equipment had a carrying value of RM4,000,000 prior to transfer. The gain on sale was shown as ‘other income’ in the books of ST Berhad. The equipment had a four-year useful economic life remaining at the date of transfer. The depreciation was classified under other expenses account.
  • On 1 July 2021, ST Berhad declared a dividend of RM10,000,000 out of post-acquisition profits. GD Berhad recorded its share of dividend as ‘other income’.
  • GD Berhad has a joint venture arrangement with FDS Berhad for CRS Sdn Bhd,
    sharing of control with ownership of 50 percent by each party since the year 2016. During the year, CRS Sdn Bhd’s net profit after tax amounted to RM60,000,000. There are some year-end transactions not accounted in the CRS Sdn Bhd financial statements as follows:

Are You Searching Answer of this Question? Request Malaysian Writers to Write a plagiarism Free Copy for You.

Get Help By Expert

Need help with coursework? Our proficient expert writers at MalaysiaAssignmentHelp.com online coursework writing help in Malaysia are here to assist you. We have a bunch of master experts who can customize your Financial Accounting coursework solution according to your professor's requirement at a cheap price.

Answer

Recent Solved Questions

Online Exam & Assignment Writing Services

11770+ Orders Delivered

4.9/5
5 Star Rating

Confidential & Secure Assignment Help For

Group Assignment Help

Online Exam -Test & Quiz

Cheapest Price Quote

Diploma & Certificate Levels

Semester & FYP Papers

Summative & Individual

GBA & Reflective

Last Minute Assistance

Sample Assignment Download

BCT432 Applied Mathematics UITM Assignment Sample Malaysia
BCT432 Applied Mathematics is a course unlike any other! By combining theoretical knowledge with practical application, this course provides students with the skills to apply mathematics to everyday situations. It…
Assignment Sample
BCT663 Building Information Modelling UITM Assignment Sample Malaysia
BCT663 Building Information Modelling course is a great opportunity for students to learn the fundamentals of this powerful design and planning tool. Building Information Modelling, also known as BIM, offers…
Assignment Sample

UP TO 15 % DISCOUNT

Instant Paper Writing Services by Native Malaysia Writers

Plagiarism Free Solutions
100% Original Work
24*7 Online Assistance
Native PhD Experts
Hire a Writer Now

Get Assistance for Assignments, online Exam, and Projects Writing