January 2011 – Accounting Crash Course

On 1 July 2010, the Company entered into a conditional share purchase agreement with XYZ International Sdn. Bhd. for the disposal of its 100% equity interest in DEF Bottles and Containers Sdn. Bhd. (“DEF”) comprising 100,000 ordinary shares of RM1.00 each, representing the whole of the issued and fully paid-up share capital of DEF for a total cash consideration of RM700,000 and the settlement of the Intra-Group Loans owing by the DEF to the other companies within the Group.

The disposal was completed on 15 September 2010.

The analysis of the total gain on disposal, carrying values of the assets and liabilities disposed, and also the net cash inflow from the disposal were as follows:

The results of the disposal group, which represents the entire bottles and containers manufacturing and packaging business under DEF, and the cash flows from discontinued operations are disclosed under discontinued operations in the financial year ended 30 November 2010 and the comparative results have been restated accordingly.

Please click this for all the relevant disclosure in one place: Sample Disclosure Of Continuing And Discontinued Operations In One Place (27 January 2011)

Sample Financial Statements – Income Statement [continuing and discontinued operations] (27 January 2011)

Please click here for Note 5: NOTE 5. DISCONTINUED OPERATIONS

Please click this for all the relevant disclosure in one place: Sample Disclosure Of Continuing And Discontinued Operations In One Place (27 January 2011)

Sample Financial Statements – Extract Of Balance Sheet [continuing and discontinued operations] (27 January 2011)

Please click here for Note 15: NOTE 15. NON-CURRENT ASSETS HELD FOR SALE

Please click this for all the relevant disclosure in one place: Sample Disclosure Of Continuing And Discontinued Operations In One Place (27 January 2011)

Sample Disclosure – Financial Results in Directors’ Report [continuing and discontinued operations] (27 January 2011)

Results

There were no material transfers to or from reserves or provisions during the financial year other than as disclosed in the statements of changes in equity.

In the opinion of the directors, the results of the operations of the Group and of the Company during the financial year have not been substantially affected by any item, transaction or event of a material and unusual nature, other than the gain arising from the disposal of the bottles and containers manufacturing and packaging business of RM348,228, as further disclosed in Note 5 to the financial statements.

Please click this for all the relevant disclosure in one place: Sample Disclosure Of Continuing And Discontinued Operations In One Place (27 January 2011)