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Accounting Essay

1448 words - 6 pages

| MAS2010 RM’000 | AirAsia2010RM’000 | Consolidated2010RM’000 |
Revenue | 13,960,894 | 4,896,190 | 18,855,584 |
Cost of Sales | (980,447) | (948,095) | (1,927,041.750) |
Gross Profit | 12,980,447 | 3,948,095 | 16,928,542.25 |
Operating expenses- Staff costs- Depreciation of property, plant and equipment- Aircraft fuel expenses- Maintenance overhaul, user charges and other related expenses- Aircraft operating lease expenses- Travel and tour operating expenses-Gain on unwinding of derivative - Other operating expenses | (1,224,008)(1,790,576)(3,711,180)(1,642,332)(429,004)(214,096)89,828(4,402,369) | (360,785)(519,984)(1,210,108)(476,077)(65,692)(69,634)-(192,381) | ...view middle of the document...

6) We split MAS operating expenses figure into details.
7) In the Income statement, tables with yellow color were assumed.
Calculations:
* Revenue
MAS 13,960,894,000
AirAsia 4,896,190,000
(-) Intra (1,500,000) .
18,855,584,000

* Provision for URP
Selling Price 1,500,000
(-) Cost (1,000,000)
Mark up 500,000
Rate 50% .
250,000

* COGS
MAS 980,447,000
(-) Intra (1,500,000)
978,947,000
AirAsia 948,095,000
(-) URP (250,000)
1,927,041,750

* Attributable to
MI (20% × 2,106,171,000) 421,234,200
MAS (P) Balance figure 4,787,507,800
5,208,742,000

| MAS2010 RM’000 | AirAsia2010RM’000 | Consolidated2010RM’000 |
NON-CURRENT ASSETS | | | |
Aircraft, Property, Land, Plant and Equipment(7,663,357+9,318,041+3,000,000) | 7,663,357 | 9,318,041 | 19,981,398 |
Prepaid lease payments on land | - | - | - |
Investments in associates | 101,804 | 29 | 101,833 |
Investments in a jointly controlled entity | 2,360 | - | 2,360 |
Available for sale financial assets | 305,884 | 152,942 | 458,826 |
Other investments | 54,604 | 25 | 54,629 |
Negotiable instruments of deposit | - | - | - |
Deferred tax assets | 3,495 | 719,260 | 722,755 |
Receivables and prepayments | 47,186 | 23,593 | 70,779 |
Amount due from an associate | 235,928 | 117,964 | 353,892 |
Intangible assets | 137,732 | 68,866 | 206,598 |
Derivative financial instruments | 51,088 | 25,544 | 76,376 |
Other receivables | 442,575 | 221,288 | 663,863 |
Goodwill | - | - | 835,909.2 |
| | | |
NON-CURRENT ASSETS | 9,046,013 | 10,647,552 | 23,529,218.2 |
| | | |
Investment in AirAsia at cost | 4,000,000 | - | - |
| | | |
CURRENT ASSETS | | | |
AirAsia current account | 450,000 | - | - |
Inventories(430,849+17,553-250) | 430,849 | 17,553 | 448,152 |
Trade and other receivables | 1,351,207 | 675,604 | 2,026,811 |
Receivables and prepayments | 1,682,244 | 841,122 | 2,523,366 |
Deposits on aircraft purchase | 497,368 | 248,684 | 746,052 |
Tax recoverable | 19,436 | 9,718 | 29,154 |
Dividend receivable – common | 1,600 | - | - |
Dividend receivable – premium | 320 | - | - |
Amount due from a jointly controlled entity | 199,604 | 99,802 | 299,406 |
Amount due from an associates | 324,772 | 162,386 | 487,158 |
Negotiable instruments of deposit | 139,206 | - | 139,206 |
Deposits, cash and bank balances | 2,085,451 | 1,504,617 | 3,590,068 |
Bond interest receivable | 140 | - | - |
Other current assets | 150,000 | - | 150,000 |
| 8,182,197 | 3,559,486 | 10,439,373 |
| | | |
| 20,378,210 | 14,207,038 | 33,968,591.2 |
EQUITY AND LIABILITIES | | | |
Common share capital | 3,342,156 | 277,344 | 3,342,156 |
Share premium | 2,443,188 | 1,221,594 | 2,443,188 |
Retained earnings | 3,102,571 | 2,102,571 | 4,642,517.198 |
Reserves | 182,010 | 38,966 | 182,010 |
| 9,069,925 | 3,640,475 | 10,609,871.2 |
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