Strong Build Bhd is a private limited company, that is a ‘Sdn Bhd’ instead of a public limited company. Discuss the similarities and differences in accounting based on the relevant Malaysian Private Entity Reporting Standards (MPERS)
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Strong Build Bhd is a private limited company, that is a ‘Sdn Bhd’ instead of a public limited company. Discuss the similarities and differences in accounting based on the relevant Malaysian Private Entity Reporting Standards (MPERS)
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- Strong Build Bhd is a private limited company, that is a ‘Sdn Bhd’ instead of a public limited company. Discuss the similarities and differences in accounting for the following based on the relevant Malaysian Private Entity Reporting Standards (MPERS):Government grantsBorrowing costIntangible assetsInvestment propertyThe following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). Jeffy Auto is a separate legal entity from its owner, but it does not pay a business income tax.What are the relevant requirements for the private company to go public listing in Malaysia? Explain all the relevant requirements.
- The following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). Physio Products does not pay income taxes and has one owner. The owner has unlimited liability for business debt.Which of the following statements is true in relation to a limited liability company? A A limited liability company can incur liabilities in its own name B A limited liability company cannot acquire assets in its own name C A limited liability company cannot incur liabilities in its own name D A limited liability company can be formed on an informal basis by simple agreement between the first sharehopldersThe following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). IBC Services does not have separate legal existence apart from the one person who owns it.
- The Malaysian Private Entities Reporting Standards (MPERS) issued by Malaysian AccountingStandards Board (MASB) is applicable to private entities in Malaysia. However, private entitiesshall comply either MPERS or Malaysian Financial Reporting Standards (MFRS) in preparationof its financial statements. The objective of financial statements of private entity is to provideinformation about the financial position, performance and cash flows of the entity that is usefulfor economic decision-making by a broad range of users. a) Discuss the measurement of deferred tax in accordance with MPERS.The following are reasons for M&A except a. financial synergy b. improving company's performance c. decrease of market share d. Tax considerations Which of the following is not a source of public information of the publicly listed companies? a. Securities and Exchange Commission b. Philippine Stock Exchange c. Philippine Dealings and Exchange Corporation d. Government Official GazetteDameeya and Delischa discuss the application of MFRS 10, MFRS 11 and MFRS 128 in preparing the group financial statements of their employer, Mega Bhd. One of the issues was the investment in Dely Bhd. A contractual agreement between Mega Bhd, Turkiya Bhd and Bee Bhd enables them to jointly control Dely Bhd and decisions about relevant business activities of Dely Bhd should have the unanimous consent of all the companies sharing the control. Since Mega Bhd is the highest investor in Dely Bhd with 40% interest, Dameeya and Delischa were contented with the idea that the investment in Dely Bhd should apply the acquisition method and the financial statements of Dely Bhd should be consolidated with Mega Bhd in accordance with MFRS 10.Required:State your opinion on Dameeya and Delischa’s view. Discuss your opinion with reference to the relevant MFRSs. (MFRS10 Consolidated Financial Statements, MFRS11 Joint Arrangements and MFRS128 Investments in Associates and Joint Ventures)
- What does it mean for a company to be a legal person and what does it mean for owners of a company to have limited liability? Use an example to compare the liability of owners of two businesses: a sole proprietor and an owner of a company with limited liability.The following describe several different business organizations. Determine whether each description bestrefers to a sole proprietorship (SP), partnership (P), corporation (C), or limited liability company (LLC). Trent Company is owned by Trent Malone, who is personally liable for the company’s debts.What are the differences in whether a limited liability company is member-managed or manager-managed? Does the election of one form of management create a difference in the fiduciary duties of members of a limited liability company? Explain your answer.