Case Study Session 1 Revenue recognition, Functional currency and Financial instruments
|
|
- Lewis Snow
- 5 years ago
- Views:
Transcription
1 Revenue recognition Case Study 1 An entity sells goods on extended credit. The goods are sold for C1,200, on 1 January 20X1, receivable on 1 January 20X3. The customer can borrow at 4.5% a year. Question: At what amount should the revenue be recognised? Please pass accounting entries for all the dates (on January 1, 20X1, December 31, 20X1, December 31, 20X2 and January 1, 20X3). Management should determine the fair value of revenue by calculating the present value of the cash flows receivable. On the transaction date, revenue of C1,099 is recorded, being C1,200 discounted for 2 years. The discounted receivable should be updated at each balance sheet date to reflect the passage of time. The resulting increase in the receivable represents interest income and should be recognised as such over the period from the date of sale to the expected date of receipt of cash. Case study 2 A retailer is offering a special 'buy one get one half price' deal whereby customers who purchase one box of chocolates are then entitled to purchase another box at the same time and obtain the second box for half the price. How should the retailer record the transaction? Question: Will the discount given on the second box be accounted as a cost of sale or a marketing expense? The revenue recognised is the cash consideration received for the two boxes of chocolates. The additional cost from offering the second box at a discount to the normal price is recorded as a cost of sales, not as a marketing expense. Case study 3 Entity B (incorporated in Singapore) which is a subsidiary of Entity A (incorporated in India) enter into a tripartite contract with Entity C (incorporated in India). As per the contract, Entity B will supply raw material X, important for the operation of Entity C, to Indian ports as agreed in the agreement. Entity A shall be responsible for transfer of the entire raw material consignment from the port to the factory of Entity C. Entity C shall pay Entity B the cost of goods and Entity A the handling charges based on the quantity of raw material X reaching their factory. Question: - When can Entity B recognise revenue in its standalone books? - When can Entity A recognise revenue in its standalone books? - For the consolidated accounts of Entity A and Entity B will there be a change in the accounting from the standalone? Entity B shall be able to recognise the revenue on the sale of goods in its standalone books at the time of handing over the goods to Entity A if all risks and rewards are transferred to Entity A. Entity A shall be able to recognise its handling income only on delivery to Entity C. Case study 4 Multiple choice questions On a consolidated basis the entire revenue will have to be deferred till the time the actual delivery is made to Entity C. Micrium, a computer chip manufacturing company, sells its products to its distributors for onward sales to the ultimate customers. Due to frequent fluctuations in the market prices for these goods, Micrium has a price protection clause in the distributor agreement that entitles it to raise additional billings in case 1 P a g e
2 of upward price movement. Another clause in the distributor s agreement is that Micrium can at any time reduce its inventory by buying back goods at the cost at which it sold the goods to the distributor. Distributors pay for the goods within 60 days from the sale of goods to them. When should Micrium recognize revenue on sale of goods to the distributors? (a) When the goods are sold to the distributors. (b) When the distributors pay to Micrium the cost of the goods (i.e., after 60 days of the sale of goods to the distributors). (c) When goods are sold to the distributor provided estimated additional revenue is also booked under the protection clause based on past experience. (d) When the distributor sells goods to the ultimate customers and there is no uncertainty with respect to the price protection clause or the buyback of goods. 2. ABC Inc. is a large manufacturer of machines. XYZ Ltd., a major customer of ABC Inc., has placed an order for a special machine for which it has given a deposit of 112,500 to ABC Inc. The parties have agreed on a price for the machine of 150,000. As per the terms of the sales agreement, it is an FOB (free on board) contract and the title passes to the buyer when goods are loaded onto the ship at the port. When should the revenue be recognized by ABC Inc.? (a) When the customer orders the machine. (b) When the deposit is received. (c) When the machine is loaded on the port. (d) When the machine has been received by the customer. 3. Revenue from an artistic performance is recognized once (a) The audience register for the event online. (b) The tickets for the concert are sold. (c) Cash has been received from the ticket sales. (d) The event takes place. 4. X Ltd., a large manufacturer of cosmetics, sells merchandise to Y Ltd., a retailer, which in turn sells the goods to the public at large through its chain of retail outlets. Y Ltd. purchases merchandise from X Ltd. under a consignment contract. When should revenue from the sale of merchandise to Y Ltd. be recognized by X Ltd.? (a) When goods are delivered to Y Ltd. (b) When goods are sold by Y Ltd. (c) It will depend on the terms of delivery of the merchandise by X Ltd. to Y Ltd. (i.e., CIF [cost, insurance, and freight] or FOB). (d) It will depend on the terms of payment between Y Ltd. and X Ltd. (i.e., cash or credit). 5. Company XYZ Inc. manufacturers and sells standard machinery. One of the conditions in the sale contract is that installation of machinery will be undertaken by XYZ Inc. During December 2005, XYZ received a special onetime contract from ABC Ltd. to manufacture, install, and maintain customized machinery. It is the first time XYZ Inc. will be producing this kind of machinery, and it is expecting numerous changes that would need to be made to the machine after the installation is completed, which one period is described in the contract of sale as the maintenance period. The total cost of making the changes during the maintenance period cannot be reasonably estimated at the time of the installation. When should the revenue from sale of this special machine be recognized? 2 P a g e
3 (a) When the machinery is produced. (b) When the machinery is produced and delivered. (c) When the installation is complete. (d) When the maintenance period as per the contract of sale expires. 1 d; 2 c; 3 d; 4 b; 5 d 3 P a g e
4 Functional currency Case study 1 A real estate entity operates in Russia. It owns several office buildings in Moscow and St. Petersburg that are rented to Russian and foreign entities. All lease contracts are denominated in US dollars, but payments can be made in either US dollars or in Russian roubles. However, almost all of the lease payments are settled in roubles. This has also been the historical pattern of payment. 4 P a g e Question: What is the functional currency of the real estate entity? On first analysis, the 'sales and cash inflows' indicators appear to produce a mixed response, because the currency that mainly influences the pricing of the lease contracts is the US dollar, whereas the cash inflows are in roubles. Also, cash outflows such as the principal operating costs, management of properties, insurance, taxes and staff costs are likely to be incurred and settled in roubles, which would indicate that the functional currency is the Russian rouble. The lease payments are denominated in US dollars, but the US dollar is not considered to be significant to the entity's operation because: (a) most of the collection is in roubles, which is subject to short-term changes in US dollar/rouble exchange rate; and (b) it is the local conditions and circumstances in Russia, not the US, that determine the rental yields of properties in Moscow and St Petersburg that mainly influence the pricing of the lease contracts, which are merely denominated in US dollar. It is, therefore, the currency of the Russian economy (roubles), rather than the currency in which the lease contracts are denominated, that most faithfully represents the economic effects of the real estate activity in Russia. Case study 2 Entity A operates an oil refinery in Saudi Arabia. All of the entity's income is denominated and settled in US dollars. The oil price is subject to the worldwide supply and demand, and crude oil is routinely traded in US dollars around the world. Around 45% of entity A's cash costs are imports or expatriate salaries denominated in US dollars. The remaining 55% of cash expenses are incurred in Saudi Arabia and denominated and settled in riyal. The non-cash costs (depreciation) are US dollar denominated, as the initial investment was in US dollars. Question: What is the functional currency of Entity A? The functional currency of entity A is the US dollar. The crude oil sales prices are influenced by global demand and supply. Crude oil is globally traded in US dollars around the world. The revenue analysis points to the US dollar. The cost analysis is mixed. Depreciation (or any other non-cash expenses) is not considered, as the primary economic environment is where the entity generates and expends cash. Operating cash expenses are influenced by the riyal (55%) and the US dollar (45%). Management is able to determine the functional currency as the US dollar, as the revenue is clearly influenced by the US dollar and expenses are mixed. Case study 3 Entity A is a US bank with a US dollar functional currency. Entity A establishes a Special Purpose Entity SPE in a European country in order to invest in a European bond portfolio. Entity A has funded the SPE with equity and inter-company debt denominated in euros. The SPE uses the financing to purchase a portfolio of euro government bonds. There is no intention for the SPE to perform any activities other than holding the bond portfolio. The directors are all employees of the US parent, and the SPE has no
5 active management of its own. Case study 4 Multiple choice questions Question: What is the functional currency of the SPE? The functional currency of the SPE is the US dollar, as the entity has no operations and does not provide any services. The primary indicators therefore do not apply. The financing indicator supports the euro, as all financing is in euros. However, all the financing is inter-company and entity A could denominate the financing in any currency it wanted. Considering the autonomy indicator, it is clear the SPE is not autonomous. It is a shell company, has no independent activities and no active management of its own. 1. Which of these considerations would not be relevant in determining the entity s functional currency? (a) The currency that influences the costs of the entity. (b) The currency in which finance is generated. (c) The currency in which receipts from operating activities are retained. (d) The currency that is the most internationally acceptable for trading. 2. Foreign operations that are an integral part of the operations of the entity would have the same functional currency as the entity. Where a foreign operation functions independently from the parent, the functional currency will be (a) That of the parent. (b) Determined using the guidance for determining an entity s functional currency. (c) That of the country of incorporation. (d) The same as the presentation currency. 3. An entity started trading in country A, whose currency was the dollar. After several years the entity expanded and exported its product to country B, whose currency was the euro. The functional currency of the entity was deemed to be the dollar but by the end of 20X7, 80% of the business was conducted in country B using the euro. At the end of 20X6, 30% of the business was conducted in the euro. The functional currency should (a) Remain the dollar. (b) Change to the euro at the beginning of 20X7. (c) Change to the euro at the end of 20X7. (d) Change to the euro at the end of 20X7 if it is considered that the underlying transactions, events, and conditions of business have changed. 4. An entity started trading in country A, whose currency was the dollar. After several years the entity expanded and exported its product to country B, whose currency was the euro. The business was conducted through a subsidiary in country B. The subsidiary is essentially an extension of the entity s own business, and the directors of the two entities are common. The functional currency of the subsidiary is (a) The dollar. (b) The euro. (c) The dollar or the euro. (d) Difficult to determine. 5. An entity acquired all the share capital of a foreign entity at a consideration of 9 million on June 30, 20X6. The fair value of the net assets of the foreign entity at that date was 6 million. The functional currency of the entity is the dollar. The financial 5 P a g e
6 year-end of the entity is December 31, 20X6. The exchange rates at June 30, 20X6, and December 31, 20X6, were 1.5 = $1 and 2 = $1 respectively. What figure for goodwill should be included in the financial statements for the year ended December 31, 20X6? (a) $2 million. (b) 3 million. (c) $1.5 million. (d) $3 million. 1 d; 2 b; 3 d;4 a; 5 c 6 P a g e
7 Financial instruments Case study 1 An entity purchased quoted equity shares from the market with the intention of profiting from short-term price fluctuations. The entity held the shares for three years due to a large unexpected downturn in the stock market after which it sold the shares in a more buoyant market. 7 P a g e Question: What will be the classification on initial recognition? Will the classification change subsequently? Since management s intention at acquisition was to profit from short-term price fluctuations, the entity would have classified the shares as held-for-trading. The fact that after designation the shares were in fact held for a longer term, because the entity was unable to sell the shares at a loss in a bear market, would not frustrate the held-to-trading classification. Indeed, IAS 39 does not limit the period for which such an instrument can be held as long as the principal purpose at acquisition was to sell them in the near-term. Furthermore, as there is no definition of 'near-term' it is important for the entity to adopt a suitable definition and apply it consistently. Case study 2 Company A is evaluating whether each of these items is a financial instrument and whether it should be accounted for under IAS 32: (a) Cash deposited in banks (b) Gold bullion deposited in banks (c) Trade accounts receivable (d) Investments in debt instruments (e) Investments in equity instruments, where Company A does not have significant influence over the investee (f) Investments in equity instruments, where Company A has significant influence over the investee (g) Prepaid expenses (h) Finance lease receivables or payables (i) Deferred revenue (j) Statutory tax liabilities (k) Provision for estimated litigation losses (l) An electricity purchase contract that can be net settled in cash (m) Issued debt instruments (n) Issued equity instruments Question: Help Company A to determine (1) which of the above items meet the definition of a financial instrument and (2) which of the above items fall within the scope of IAS 32. (a) Yes, cash deposited in a bank is a financial instrument. If an entity deposits cash in a bank, it is a financial asset of the entity and a financial liability of the bank, because the bank has a contractual obligation to repay the cash to the entity. It falls within the scope of IAS 32. (b) No, gold is not a financial instrument. It is a commodity. It is outside the scope of IAS 32. (c) Yes, a trade accounts receivable is a financial instrument. Trade accounts receivable is a financial asset because the holder has a contractual right to receive cash. It falls within the scope of IAS 32. (d) Yes, an investment in a debt instrument is a financial instrument. Investments in debt instruments are financial assets because the investor has a contractual right to
8 Case study 3 Multiple choice questions receive cash. It falls within the scope of IAS 32. (e) Yes, an investment in an equity instrument is a financial instrument. Investments in equity instruments are financial assets because the investor holds an equity instrument issued by another entity. It falls within the scope of IAS 32. (f) While an investment in an equity instrument is a financial instrument (a financial asset), if the investor has significant influence, joint control, or control over the investee, the investment generally is scoped out of IAS 32 and instead accounted for as an investment in an associate, joint venture, or subsidiary. (g) No, prepaid expenses are not financial instruments because they will not result in the delivery or exchange of cash or other financial instruments. They are outside the scope of IAS 32. (h) Yes, finance lease receivables or payables are financial instruments. They are within the scope of IAS 32. (However, they are scoped out of IAS 39 except for recognition and measurement of impairment of finance lease receivables.) (i) No, deferred revenue does not meet the definition of a financial instrument. Deferred revenue is outside the scope of IAS 32. (j) No, deferred taxes do not meet the definition of a financial instrument, because they do not arise from contractual rights or obligations, but from statutory requirements. They are outside the scope of IAS 32. (k) No, provisions do not meet the definition of a financial instrument, because they do not arise as a result of contractual rights or obligations. They are outside the scope of IAS 32. (l) Even though an electricity purchase contract does not meet the definition of a financial instrument, it is included in the scope of IAS 32 (and IAS 39) if it can be settled net in cash unless it will be settled by delivery to meet the entity s normal purchase, sale, or usage requirements. (m) Yes, an issued debt instrument meets the definition of a financial liability. It is within the scope of IAS 32. (n) Yes, an issued equity instrument is a financial instrument that falls within the scope of IAS 32. However, although an issued equity instrument meets the definition of a financial instrument, there is a specific scope exception for issued equity instruments in IAS Are there any circumstances when a contract that is not a financial instrument would be accounted for as a financial instrument under IAS 32 and IAS 39? (a) No. Only financial instruments are accounted for as financial instruments. (b) Yes. Gold, silver, and other precious metals that are readily convertible to cash are accounted for as financial instruments. (c) Yes. A contract for the future purchase or delivery of a commodity or other nonfinancial item (e.g., gold, electricity, or gas) generally is accounted for as a financial instrument if the contract can be settled net. (d) Yes. An entity may designate any nonfinancial asset that can be readily convertible to cash as a financial instrument. 2. Which of the following assets is not a financial asset? (a) Cash. (b) An equity instrument of another entity. (c) A contract that may or will be settled in the entity s own equity instrument and is not classified as an equity instrument of the entity. (d) Prepaid expenses. 3. Which of the following liabilities is a financial liability? 8 P a g e
9 (a) Deferred revenue. (b) A warranty obligation. (c) A constructive obligation. (d) An obligation to deliver own shares worth a fixed amount of cash. 4. Which of the following is not a category of financial assets defined in IAS 39? (a) Financial assets at fair value through profit or loss. (b) Available-for-sale financial assets. (c) Held-for-sale investments. (d) Loans and receivables. 5. Which of the following transfers of financial assets qualifies for derecognition? (a) A sale of a financial asset where the entity retains an option to buy the asset back at its current fair value on the repurchase date. (b) A sale of a financial asset where the entity agrees to repurchase the asset in one year for a fixed price plus interest. (c) A sale of a portfolio of short-term accounts receivables where the entity guarantees to compensate the buyer for any losses in the portfolio. (d) A loan of a security to another entity (i.e., a securities lending transaction). 1 c; 2 d; 3 d; 4 c; 5 a 9 P a g e
Case Study Session 1 Revenue recognition, Functional currency and Financial instruments
Revenue recognition Case Study 1 An entity sells goods on extended credit. The goods are sold for C1,200, on 1 January 20X1, receivable on 1 January 20X3. The customer can borrow at 4.5% a year. Question:
More informationUnaudited consolidated interim financial statements and independent auditor s review report BORETS INTERNATIONAL LIMITED 30 June 2015
Unaudited consolidated interim financial statements and independent auditor s review report BORETS INTERNATIONAL LIMITED 30 June 2015 Contents Independent Auditor s Review Report Unaudited Consolidated
More informationExposure Draft. Indian Accounting Standard (Ind AS) 109, Financial Instruments
Exposure Draft Indian Accounting Standard (Ind AS) 109, Financial Instruments (Last date for Comments: October 25, 2014) Issued by Accounting Standards Board The Institute of Chartered Accountants of India
More informationFinancial Instruments Ind AS 32 & 109. CA Chirag Doshi March 18, 2017
Financial Instruments Ind AS 32 & 109 CA Chirag Doshi March 18, 2017 Introduction Ind AS 32, Financial Instruments: Presentation, addresses the presentation of financial instruments as financial liabilities
More informationPAO TMK Consolidated Financial Statements Year ended December 31, 2017
Consolidated Financial Statements Consolidated Financial Statements Contents Independent auditor s report...3 Consolidated Income Statement...8 Consolidated Statement of Comprehensive Income...9 Consolidated
More informationBAWAN COMPANY AND SUBSIDIARIES (SAUDI JOINT STOCK COMPANY)
CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT CONSOLIDATED FINANCIAL STATEMENTS INDEX PAGE Independent auditor s report 3-9 Consolidated statement of financial position 10 Consolidated
More informationOAO GAZPROM IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014
IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 1 NATURE OF OPERATIONS OAO Gazprom and its subsidiaries (the Group ) operate one of the largest gas pipeline systems in the world and are responsible
More informationAnnual Financial Report KONAMI CORPORATION and its subsidiaries Consolidated Financial Statements For the fiscal year ended March 31, 2015
Annual Financial Report KONAMI CORPORATION and its subsidiaries Consolidated Financial Statements For the fiscal year ended March 31, 2015 KONAMI CORPORATION TABLE OF CONTENTS 1. Consolidated Financial
More informationOAO GAZPROM IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013
IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 Independent Auditor s Report To the Shareholders and Board of Directors of OAO Gazprom We have audited the accompanying consolidated financial statements
More informationMannai Corporation Q.S.C. CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Notes QR 000 QR 000 ASSETS Current assets Bank balances and cash 4 344,200 88,293 Accounts receivable
More informationMANNAI CORPORATION Q.S.C AND SUBSIDIARY COMPANIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT
MANNAI CORPORATION Q.S.C AND SUBSIDIARY COMPANIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED DECEMBER 31, 2011 CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT
More information[Financial Statements]
[Financial Statements] Contents 1 Financial Results Summary 2 Consolidated Statement of Financial Position 3 Consolidated Statement of Profit or Loss and Other Comprehensive Income 4 Consolidated Statement
More informationPAO TMK Consolidated Financial Statements Year ended December 31, 2016
Consolidated Financial Statements Consolidated Financial Statements Contents Independent auditor s report...3 Consolidated Income Statement...8 Consolidated Statement of Comprehensive Income...9 Consolidated
More informationvoxeljet AG INDEX TO FINANCIAL STATEMENTS
INDEX TO FINANCIAL STATEMENTS Consolidated Financial Statements of : Page Report of Independent Registered Public Accounting Firm F-2 Consolidated Statements of Financial Position as of December 31, 2014
More informationOAO GAZPROM IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2004
IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2004 ZAO PricewaterhouseCoopers Audit Kosmodamianskaya Nab. 52, Bld. 5 115054 Moscow Russia Telephone +7 (095) 967 6000 Facsimile +7 (095) 967 6001 AUDITORS
More informationMining and Metallurgical Company Norilsk Nickel. Consolidated financial statements for the year ended 31 December 2015
Mining and Metallurgical Company Norilsk Nickel Consolidated financial statements for the year ended 31 December 2015 CONSOLIDATED FINANCIAL STATEMENTS INDEX Page Statement of management s responsibilities
More informationDOOSAN ENGINE CO., LTD. SEPARATE FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011, AND INDEPENDENT AUDITORS REPORT
DOOSAN ENGINE CO., LTD. SEPARATE FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011, AND INDEPENDENT AUDITORS REPORT Independent Auditors Report English Translation of a Report
More informationFinancial statements LTD Company KARATZIS RUS for the year ended prepared in accordance with IFRS (Report currency - Euro, in absolute values) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER Contents
More informationNotes to the Consolidated Financial Statements
121 Notes to the Consolidated Financial Statements 1. General information Neste Corporation (the Company) is a Finnish public limited liability company domiciled in Espoo, Finland. The company is listed
More informationZAMIL INDUSTRIAL INVESTMENT COMPANY (A SAUDI JOINT STOCK COMPANY) AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2017
ZAMIL INDUSTRIAL INVESTMENT COMPANY (A SAUDI JOINT STOCK COMPANY) AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2017 CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December
More informationTNK-BP INTERNATIONAL LIMITED CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED 31 DECEMBER 2012 AND 31 DECEMBER 2011
CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED 31 DECEMBER 2012 AND 31 DECEMBER 2011 Consolidated Income Statement and Statement of Comprehensive Income (expressed in millions of USD)
More informationConsolidated financial statements and independent auditor s report BORETS INTERNATIONAL LIMITED 31 December 2017
Consolidated financial statements and independent auditor s report BORETS INTERNATIONAL LIMITED 31 December 2017 Contents Independent Auditor s Report Consolidated Statement of Financial Position 1 Consolidated
More informationAccounting policies extracted from the 2016 annual consolidated financial statements
Steinhoff International Holdings N.V. (Steinhoff N.V.) is a Netherlands registered company with tax residency in South Africa. The consolidated annual financial statements of Steinhoff N.V. for the period
More informationPAO TMK Unaudited Interim Condensed Consolidated Financial Statements Three-month period ended March 31, 2017
Unaudited Interim Condensed Consolidated Financial Statements Unaudited Interim Condensed Consolidated Financial Statements Contents Report on Review of Interim Financial Information...3 Unaudited Interim
More informationNESTE Financial Statements
NESTE 2016 Financial Statements 2 Financial Statements Consolidated Statement of Income... 3 Consolidated Statement of Comprehensive Income... 3 Consolidated Statement of Financial Position... 4 Consolidated
More information11326/16 ADD 1 LM/CDP/vpl DGG 3 B
Council of the European Union Brussels, 19 July 2016 (OR. en) 11326/16 ADD 1 DRS 32 ECOFIN 719 EF 244 COVER NOTE From: European Commission date of receipt: 6 July 2016 To: No. Cion doc.: Subject: General
More informationJohnson Matthey / Annual Report and Accounts 2018
136 Johnson Matthey / Annual Report and 2018 Contents 138 Consolidated Income Statement 138 Consolidated Statement of Total Comprehensive Income 139 Consolidated and Parent Company Balance Sheets 140 Consolidated
More informationIFRS 9 Financial Instruments
A C C O U N T I N G S U M M A R Y IFRS 9 Financial Instruments Objective The objective of this Standard is to establish principles for the financial reporting of financial assets and financial liabilities
More informationDANGOTE SUGAR REFINERY PLC INTERIM FINANCIAL STATEMENTS
DANGOTE SUGAR REFINERY PLC INTERIM FINANCIAL STATEMENTS 30 September 2013 42 Contents Statement of profit and loss and other comprehensive income 3 Statement of financial position 4 Statement of changes
More informationTotal assets 214,589, ,246,479
CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at December 31, and Notes ASSETS Cash and balances with SAMA 4 25,315,736 20,928,549 Due from banks and other financial institutions 5 3,914,504 4,438,656
More informationFinancial Instruments
IFRS 9 Financial Instruments In April 2001 the International Accounting Standards Board (the Board) adopted IAS 39 Financial Instruments: Recognition and Measurement, which had originally been issued by
More informationAccounting and Reporting of Financial Instruments
CHAPTER 6 Accounting and Reporting of Financial Instruments BASIC CONCEPTS Financial Instrument is contract that may give rise to financial asset of one entity and a financial liability of another entity.
More informationSAUDI BASIC INDUSTRIES CORPORATION (SABIC) AND ITS SUBSIDIARIES (A Saudi Joint Stock Company)
SAUDI BASIC INDUSTRIES CORPORATION (SABIC) AND ITS SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTH PERIOD AND YEAR ENDED 31 DECEMBER 2017 AND INDEPENDENT AUDITORS REVIEW
More informationOpen Joint Stock Company Power Machines and subsidiaries. Consolidated Financial Statements For the Year Ended 31 December 2006
Open Joint Stock Company Power Machines and subsidiaries Consolidated Financial Statements For the Year Ended 31 December 2006 OPEN JOINT STOCK COMPANY POWER MACHINES AND SUBSIDIARIES TABLE OF CONTENTS
More informationOAO GAZPROM IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2010
IFRS CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2010 1 NATURE OF OPERATIONS OAO Gazprom and its subsidiaries (the Group ) operate one of the largest gas pipeline systems in the world and are responsible
More information(An Egyptian Joint Stock Company)
EL Sewedy Electric Company (An Egyptian Joint Stock Company) Interim consolidated financial statements For the financial period ended 31 March 2018 And limited review report Report on limited review of
More informationCertification Course in IFRS Pune IAS 18 : Revenue Recognition. 1 st October, 2011
Certification Course in IFRS Pune IAS 18 : Revenue Recognition 1 st October, 2011 Revenue Recognition IAS 18 1.1 The Framework for the Preparation and Presentation of Financial Statements defines income
More information(Non-legislative acts) REGULATIONS
29.11.2016 L 323/1 II (Non-legislative acts) REGULATIONS COMMISSION REGULATION (EU) 2016/2067 of 22 November 2016 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards
More informationOAO SIBUR Holding. International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor s Report.
OAO SIBUR Holding International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor s Report 31 December 2013 IFRS CONSOLIDATED STATEMENT OF PROFIT OR LOSS (In millions
More informationZAMIL INDUSTRIAL INVESTMENT COMPANY (ZAMIL INDUSTRIAL) AND ITS SUBSIDIARIES (A Listed Saudi Joint Stock Company)
ZAMIL INDUSTRIAL INVESTMENT COMPANY (ZAMIL INDUSTRIAL) AND ITS SUBSIDIARIES (A Listed Saudi Joint Stock Company) INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTH PERIOD ENDED 31
More informationFinancial review Refresco Financial review 2017
Financial review 2017 Financial review 2017 Financial review 2017 1 69 Consolidated income statement For the year ended December 31, 2017 (x 1 million euro) Note December 31, 2017 December 31, 2016 Revenue
More informationDOOSAN ENGINE CO., LTD. AND SUBSIDIARIES
DOOSAN ENGINE CO., LTD. AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2012 AND 2011, AND INDEPENDENT AUDITORS REPORT Independent Auditors Report English
More informationRELIANCE INDUSTRIES (MIDDLE EAST) DMCC 1. Reliance Industries (Middle East) DMCC
RELIANCE INDUSTRIES (MIDDLE EAST) DMCC 1 Reliance Industries (Middle East) DMCC 2 RELIANCE INDUSTRIES (MIDDLE EAST) DMCC Independent Auditor s Report To the Shareholder of Reliance Industries (Middle East)
More informationConsolidated financial statements of PJSC Rostelecom for with independent auditor s report
Consolidated financial statements of PJSC Rostelecom for 2016 with independent auditor s report Consolidated financial statements of PJSC Rostelecom Contents Page Independent auditor s report 3 Consolidated
More informationCONSOLIDATED STATEMENT OF FINANCIAL POSITION As at December 31, 2017 and 2016 2017 2016 Note ASSETS (Restated) Cash and balances with SAMA 4 18,504,255 21,262,177 Due from banks and other financial institutions
More informationIndian Accounting Standard (Ind AS) 109 Financial Instruments
Indian Accounting Standard (Ind AS) 109 Financial Instruments (The Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority. Paragraphs in bold type indicate
More informationConsolidated Financial Statements Summary and Notes
Consolidated Financial Statements Summary and Notes Contents Consolidated Financial Statements Summary Consolidated Statement of Total Comprehensive Income 57 Consolidated Statement of Financial Position
More informationSaudi Telecom Company (A Saudi Joint Stock Company)
() INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS PERIOD ENDED 31 MARCH 2018 (Unaudited) First Quarter 2018 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS INDEX Pages Auditor
More informationIndian Accounting Standard (Ind AS) 39. Financial Instruments: Recognition and Measurement
Indian Accounting Standard (Ind AS) 39 Financial Instruments: Recognition and Measurement 1 2 Indian Accounting Standard (Ind AS) 39 Financial Instruments: Recognition and Measurement Contents Paragraphs
More informationConsolidated Financial Statements & Auditor's Report
Annual Report 13 Consolidated Financial Statements & Auditor's Report Year Ended December 31, 14 Annual Report Annual Report 15 16 Annual Report CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, Note ASSETS
More informationQatar Navigation Q.P.S.C.
CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2016 CONSOLIDATED FINANCIAL STATEMENTS CONTENTS Page(s) Independent auditor s report 1-4 Consolidated financial statements: Consolidated income statement 5
More informationPAO TMK Unaudited Interim Condensed Consolidated Financial Statements Three-month period ended March 31, 2018
Unaudited Interim Condensed Consolidated Financial Statements Unaudited Interim Condensed Consolidated Financial Statements Contents Report on Review of Interim Financial Information...3 Unaudited Interim
More informationFINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET PROVISIONS CONSOLIDATED INCOME STATEMENT TRADE AND OTHER PAYABLES 84
56 AALBERTS INDUSTRIES N.V. ANNUAL REPORT 2015 1. CONSOLIDATED BALANCE SHEET 58 18. PROVISIONS 81 2. CONSOLIDATED INCOME STATEMENT 59 19. TRADE AND OTHER PAYABLES 84 3. CONSOLIDATED STATEMENT OF COMPREHENSIVE
More informationOpen Joint Stock Company Raiffeisen Bank Aval Consolidated Financial Statements
Open Joint Stock Company Raiffeisen Bank Aval Consolidated Financial Statements Year ended 31 December Together with Independent Auditors Report Consolidated Financial Statements CONTENTS INDEPENDENT AUDITORS
More informationIFRS-compliant accounting principles
IFRS-compliant accounting principles Since 1 January 2005, Uponor Corporation has prepared its consolidated financial statements in compliance with the following accounting principles: Main functions Uponor
More informationTHE SAUDI INVESTMENT BANK (A Saudi joint stock company) CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS REPORT
(A Saudi joint stock company) CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS REPORT December 31, 2011 and 2010 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of December 31, 2011 and 2010 ASSETS 2011
More informationOAO Silvinit. Consolidated Financial Statements for the year ended 31 December 2010
Consolidated Financial Statements for the year ended 31 December 2010 Contents Independent Auditors Report 3 Consolidated Statement of Comprehensive Income 4 Consolidated Statement of Financial Position
More informationAccounting policies STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS. inchcape.com 93
Accounting policies The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS Interpretations
More informationAL-KHALIJ HOLDING COMPANY (Q.S.C.) DOHA - QATAR CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED DECEMBER 31,
DOHA - QATAR CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED DECEMBER 31, 2011 CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT INDEX Page Independent
More informationMIDDLE EAST COMPANY FOR MANUFACTURING AND PRODUCING PAPER (A Saudi Joint Stock Company)
MIDDLE EAST COMPANY FOR MANUFACTURING AND PRODUCING PAPER CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2017 AND REPORT ON REVIEW OF
More informationIndependent auditor s report on the consolidated financial statements of Joint stock company Russian Agricultural Bank and its subsidiaries for 2016
Independent auditor s report on the consolidated financial statements of Joint stock company Russian Agricultural Bank and its subsidiaries for 2016 March 2017 Consolidated Financial Statements CONTENTS
More informationIn depth A look at current financial reporting issues
inform.pwc.com In depth A look at current financial reporting issues Revenue from contracts with customers The standard is final A comprehensive look at the new revenue model No. 2014-02 (supplement) June
More informationEUROPEAN UNION ACCOUNTING RULE 13 THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES
EUROPEAN UNION ACCOUNTING RULE 13 THE EFFECTS OF CHANGES IN FOREIGN Page 2 of 11 I N D E X 1. Objective... 3 2. Scope... 3 3. Definitions... 3 4. Summary of the Approach required by this EU accounting
More informationPAO SIBUR Holding. International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor s Report.
PAO SIBUR Holding International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor s Report 31 December 2017 Table of Contents Independent Auditor s Report IFRS Consolidated
More informationBANK ALBILAD (A Saudi Joint Stock Company) Consolidated Financial Statements For the year ended December 31, 2010
Consolidated Financial Statements For the year ended December 31, 2010 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2010 AND 2009 Notes 2010 SAR 000 2009 SAR 000 ASSETS Cash and balances
More informationAs of December 31, 2016, Company shareholders respective percentage of ownership is as follows:
DOOSAN BOBCAT INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015 (In U.S. dollars) 1. ORGANIZATION AND DESCRIPTION OF THE BUSINESS:
More informationPROMSVYAZBANK. Interim Consolidated Condensed Financial Statements for the nine-month period ended 30 September 2008 Unaudited
PROMSVYAZBANK Interim Consolidated Condensed Financial Statements for the nine-month period ended Unaudited Interim Consolidated Condensed Financial Statements and Independent auditors report nine-month
More informationAccounting policy
Accounting policy 30.06.18 1. Principal activities ACBA-Credit Agricole Bank CJSC (the Bank ) is the parent company in the Group, which is comprised of the Bank and its subsidiary ACBA Leasing Credit Organization
More informationInd AS 7 Statement of Cash Flows. EIRC, Kolkata. Mohit Jain 16 February For discussion purposes only
Ind AS 7 Statement of Cash Flows EIRC, Kolkata Mohit Jain 16 February 2018 For discussion purposes only Overview of Ind AS 7 Requires presentation of a statement of cash flows as an integral part of financial
More informationConsolidated Income Statement
59 Consolidated Income Statement For the year ended 31 December In millions of EUR Note 2016 2015 Revenue 5 20,792 20,511 income 8 46 411 Raw materials, consumables and services 9 (13,003) (12,931) Personnel
More informationOpen Joint Stock Company Company M.video and subsidiaries (the Group ) Consolidated Financial Statements Year Ended 31 December 2007
Open Joint Stock Company Company M.video and subsidiaries (the Group ) Consolidated Financial Statements Year Ended 31 December 2007 OJSC COMPANY M.VIDEO AND SUBSIDIARIES TABLE OF CONTENTS Pages STATEMENT
More informationDirector s Statement and Audited Consolidated Financial Statements. CONVEYOR HOLDINGS PTE. LTD. Company Registration No: W AND ITS SUBSIDIARY
Director s Statement and Audited Consolidated Financial Statements CONVEYOR HOLDINGS PTE. LTD. Company Registration No: 201224662W 31 MARCH 2016 GENERAL INFORMATION DIRECTOR Gowri Saminathan Mrs Gowri
More informationCONTENTS. original Japanese-language statements. (3)Consolidated Statements of Comprehensive Income. (4)Consolidated Statements of Changes in Equity
FROM APRIL 1 S T, 2017 TO MARCH 31 S T, 2018 CONTENTS Ⅰ. SUMMARY OF OPERATING RESULTS BY BUSINESS Review of Operations 1 Ⅱ. FINANCIAL HIGHLIGHTS 1. Consolidated Financial Highlights 2. Non-Consolidated
More informationALUJAIN CORPORATION (A Saudi Joint Stock Company)
CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2018 AND REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION
More informationTHE LEBANESE COMPANY FOR THE DEVELOPMENT AND RECONSTRUCTION OF BEIRUT CENTRAL DISTRICT S.A.L.
THE LEBANESE COMPANY FOR THE DEVELOPMENT AND RECONSTRUCTION OF BEIRUT CENTRAL DISTRICT S.A.L. CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT YEAR ENDED DECEMBER 31, 2012 THE LEBANESE
More informationHILL STREET BEVERAGE COMPANY INC. (formerly Avanco Capital Corp.) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
HILL STREET BEVERAGE COMPANY INC. (formerly Avanco Capital Corp.) CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE THREE MONTH PERIOD ENDED SEPTEMBER 30, 2018 AND 2017 (Expressed
More informationSMP Bank (OJSC) Consolidated Financial Statements for the year ended 31 December 2011
Consolidated Financial Statements for the year ended 31 December 2011 Contents Independent Auditors Report... 3 Consolidated statement of comprehensive income... 4 Consolidated statement of financial position...
More informationBPS-Sberbank and subsidiaries Consolidated financial statements
and subsidiaries Consolidated financial statements For the year ended together with independent auditors report Consolidated financial statements Contents Audit report of independent audit firm Consolidated
More informationNotes. These financial statements were approved for issue by the board of directors on May 08, 2017.
THE WELSPUN CORP STORY GOVERNANCE REPORTS FINANCIAL STATEMENTS annexed to and forming part of the standalone balance sheet as at and the standalone statement of profit and loss for the year ended Statement
More informationBANCA INTESA (CLOSED JOINT-STOCK COMPANY) Consolidated financial statements. Year ended 31 December 2013 Together with Auditors report
BANCA INTESA (CLOSED JOINT-STOCK COMPANY) Consolidated financial statements Year ended 31 December 2013 Together with Auditors report BANCA INTESA (CLOSED JOINT-STOCK COMPANY) 2013 Consolidated financial
More informationSAUDI INDUSTRIAL SERVICES COMPANY (A SAUDI JOINT STOCK COMPANY) INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE THREE MONTH AND SIX MONTH PERIODS ENDED 30 JUNE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) For the three month
More informationMEGA Brands Inc. Consolidated Financial Statements December 31, 2012 and 2011 (in thousands of US dollars)
MEGA Brands Inc. Consolidated Financial Statements December 31, 2012 and 2011 (in thousands of US dollars) Report Independent Auditor s Report To the Shareholders of MEGA Brands Inc. We have audited the
More informationNotes to the consolidated financial statements (forming part of the financial statements)
Annual Report and Accounts Notes to the consolidated financial statements 1. Corporate information DP World Limited ( the Company ) was incorporated on 9 August 2006 as a Company Limited by Shares with
More informationGroup Income Statement For the year ended 31 March 2015
Income Statement For the year ended 31 March Note Pre exceptionals Restated Exceptionals (note 11) Pre exceptionals Exceptionals (note 11) Continuing operations Revenue 5 10,606,080 10,606,080 11,044,763
More informationRABIGH REFINING AND PETROCHEMICAL COMPANY (A Saudi Joint Stock Company)
FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2015 AND INDEPENDENT AUDITORS REPORT FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2015 Page Independent auditors report 2 Balance sheet 3 Income
More information[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (i)]
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION (i)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 28.03. 2018 G.S.R... (E). In exercise of the powers
More informationSAUDI ARAMCO TOTAL REFINING & PETROCHEMICAL COMPANY (SATORP) (A Saudi Arabian Mixed Limited Liability Company)
SAUDI ARAMCO TOTAL REFINING & PETROCHEMICAL COMPANY (SATORP) CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 AND INDEPENDENT AUDITOR S REPORT CONSOLIDATED FINANCIAL STATEMENTS FOR
More informationHKAS 32, HKAS 39 and HKFRS 7
HKAS 32 & 39 and HKFRS 7 Part One 10 March 2008 Nelson Lam 林智遠 MBA MSc BBA ACA ACS CFA CPA(Aust) CPA(US) FCCA FCPA(Practising) MSCA 2005-08 Nelson 1 HKAS 32, HKAS 39 and HKFRS 7 Anyone who says they understand
More informationChapter 28 17/09/2016. Accounting for foreign currency transactions. Introduction to accounting for foreign currency transactions
Chapter 28 Accounting for foreign currency transactions 28-1 Introduction to accounting for foreign currency transactions Two general issues to be considered in foreign currency translations 1. Where debts,
More informationSt. Kitts Nevis Anguilla Trading and Development Company Limited
St. Kitts Nevis Anguilla Trading and Development Company Limited Unaudited Consolidated Financial Statements Consolidated Statement of Financial Position As at Assets January 2018 Current assets Cash and
More informationGood Group Private Enterprise Inc. Illustrative consolidated financial statements for the year ended 31 December 2016
Illustrative consolidated financial statements for the year ended Based on Accounting Standards for Private Enterprises in issue as at 1 January 2016 Introduction This publication contains an illustrative
More informationPUBLIC JOINT STOCK COMPANY AEROFLOT RUSSIAN AIRLINES. IFRS Consolidated Financial Statements for the year ended 31 December 2017
PUBLIC JOINT STOCK COMPANY AEROFLOT RUSSIAN AIRLINES IFRS Consolidated Financial Statements Contents Statement of Management s Responsibilities for the Preparation and Approval of the Consolidated Financial
More informationTHE SAUDI INVESTMENT BANK (A Saudi joint stock company) CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS REPORT
(A Saudi joint stock company) CONSOLIDATED FINANCIAL STATEMENTS AND AUDITORS REPORT December 31, 2014 and 2013 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of December 31, 2014 and 2013 ASSETS 2014
More informationNotes to the Financial Statements For the financial year ended 31 December 2016
Notes to the Financial Statements For the financial year ended These notes form an integral part of the financial statements. The financial statements for the financial year ended were authorised for issue
More informationYIOULA GLASSWORKS S.A. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS SEPTEMBER 30, 2012
1. CORPORATE INFORMATION: Yioula Glassworks S.A., a corporation formed under the laws of the Hellenic Republic (also known as Greece), οn August 5, 1959, by Messrs Kyriacos and Ioannis Voulgarakis is the
More informationPOSCO Separate Financial Statements December 31, 2017 and (With Independent Auditors Report Thereon)
Separate Financial Statements December 31, 2017 and 2016 (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report... 1 Separate Financial Statements Separate Statements
More informationUNITED INTERNATIONAL TRANSPORTATION COMPANY (A SAUDI JOINT STOCK COMPANY) AND IT S SUBSIDIARY
(A SAUDI JOINT STOCK COMPANY) AND IT S SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 INDEX PAGE 1-6 Consolidated Statement of Profit or
More informationGazprom Neft Group. Consolidated Financial Statements
Consolidated Financial Statements Consolidated Financial Statements Contents Consolidated Statement of Financial Position 2 Consolidated Statement of Profit and Loss and Other Comprehensive Income 3 Consolidated
More information2005 Financial Statements. Consolidated Financial Statements of the Nestlé Group Annual Report of Nestlé S.A.
2005 Financial Statements Consolidated Financial Statements of the Nestlé Group Annual Report of Nestlé S.A. Consolidated Financial Statements of the Nestlé Group 3 Consolidated income statement for the
More informationThe notes on pages 7 to 59 are an integral part of these consolidated financial statements
CONSOLIDATED BALANCE SHEET As at 31 December Restated Restated Notes 2013 $'000 $'000 $'000 ASSETS Non-current Assets Investment properties 6 68,000 68,000 - Property, plant and equipment 7 302,970 268,342
More information