1.0 INTRODUCTION
COMPANY’S BACKGROUND
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A. Marketpalce
The first CSR Framework area is Marketplace, which divided by five issues:
1. Corporate Governance
Sunway. The board committees are also guided by clear terms of reference which lays the
foundation for operational excellence.
2. Stakeholder Engagement
i. Customers
Sunway construction division carries out annual customer satisfaction surveys. This
survey provides an avenue for clients and consultants to provide feedbacks on
products and services. During the last survey 2008-2009, 86% of clients and
consultants responded with 92% of the respondents acknowledging that they were
satisfied with products and services provide by the division. Targets such as
customer satisfaction, zero defects, superior quality, competitive prices and timely
delivery are being reviewed regularly through customer feedback to gauge and
continuously improve the company’s quality performance.
ii. Suppliers
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iii. Investors
3. Procurement Policy
4. Quality Certification
It can divide by two which is the certification and culture. The certification is when Total
Quality Management (TQM) is adopted Group wide. With constant focus on total
customer satisfaction, solutions are continually developed to meet and exceed clients’
needs. The Group's construction division was one of the first construction groups in
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Malaysia to receive the accreditation for MS ISO 9002:1994 quality standards by SIRIM
back in the year 1997. This certification has since been upgraded to adhere to the new
requirements adopted in the ISO 9001:2008. To date, the following companies within the
construction division have been certified with ISO 9001:
a) Sunway Construction Sdn Bhd
b) Sunway Engineering Sdn Bhd
c) Sunway Builders Sdn Bhd
d) Sunway Innopave Sdn Bhd
e) Sunway Concrete Products (S) Pte. Ltd
f) Sunway Geotechnics Sdn Bhd is in the process of obtaining certification.
While, for culture the Group's construction division was the first Malaysian construction
conglomerate to implement the Japanese concept of "kaizen" enterprise wide. Continuous
quality improvement initiatives implemented has resulted in waste reduction and
significant workforce productivity enhancement. These initiatives include Kaizen
Initiative:
This activity is led by the senior management to carry out scheduled visit to
project sites to monitor the status of quality implementation of selected trades.
The participation of senior management as a role model leading by example has
accelerated knowledge sharing in continual improvement. Through this effective
sharing platform, participants would exchange views and share respective
experiences in handling quality and project management issues.
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5. Green Products
Three of the products supplied by the Group's building materials division which are
interlocking concrete pavers, compressed concrete paving slabs and cavite light weight
concrete panel was conferred the Green Label Certification by The Singapore
Environment Council in 2009. This recognises the division's efforts in producing
environmentally friendly products with a minimum usage of 20% recycled content.
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B. Workplace
Sunway places paramount emphasis on the health and safety in its workplace. Its 4 level
Occupational Health and Safety Management System (OHSAS) which is of
comprehensive coverage and implementation applies to all employees of the Group. In
2001, the construction division obtained the OHSAS 18001:1999 accreditation in 2001
which was subsequently upgraded to OHSAS 18001:2007.Specific to the Group’s
construction division in Malaysia, 3 Occupational Safety and Health (OSH) company-
wide objectives have been set up, guided by the Quality Environment Safety and Health
policy which includes:
• To achieve 2.5 million man-hours without loss time accident company wide
• To achieve a monthly inspection score of 70% and above
• To strive towards a zero life loss at all work sites
Sunway’s construction division in Malaysia during the period under review has
successfully recorded a total of 8.6 million man-hours without loss time accidents and an
average inspection score of 86%. Initiatives to promote Environment, Safety and Health
(ESH) awareness include:
ESH training and development programmes are constantly carried out to raise the
level of ESH awareness and knowledge of employees and subcontractors. This forms
the foundation of creating a ESH culture in the Group. Examples of programmes are
the Site Safety Supervisors (SSS) Training, Scaffold Awareness Training, First Aid
Training and Environmental Awareness Training.
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The Group has implemented a holistic human capital development approach which
encompasses the identification (external and internal), development and retention of its
competent human capital. Strong leadership in the organisation is pivotal to drive the
human capital development approach. This approach is delivered through the Group’s of:
i. Recruitment Strategy
One of the Group's core values is "excellence". The MFE process i.e. a homegrown
performance management process sets the platform for driving excellence in
performance of all employees. Using MFE, performance expectations are agreed and
the managers are responsible to move the performance bar continuously, thereby
ensuring standards are raised to move the Group forward. Managers are trained to
provide coaching and feedback to engage employees to deliver their best. The
performance management derives performance rating that is used for reward and
recognition, promotion, talent development, succession planning, etc.
Sizeable investments are put in to develop employees in areas of technical, soft and
leadership skills. Development of human capital is not done just through training but
through a blended learning approach which include learning by doing, reading,
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coaching, mentoring, etc. In line with the nation call to cultivate a reading habit, the
Group Human Resource (GHR) Resource Center aims to do the same by offering
books, CDs, DVDs and magazines of various subjects to employees. A total of
23,008 training hours was invested from July 2008 to Dec 2009. Every employee has
an average of 16 training hours per year. One new initiative during the period was to
partner with Sunway University College and its highly reputable partner, Lancaster
University Management School, to design and deliver locally a high-class
management programme to managers to hone their management skills. The
Mentoring Programme is targeted at high potential and identified successors to
develop them further through transfer of tacit knowledge and experience by more
experienced senior management team members.
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Sunway believes that sports and social activities foster closer ties amongst employees
thus enabling better rapport and work quality. This led to the formation of the Group's
sports club, "Kelab Sukan Sunway".Activities made possible through Kelab Sukan
Sunway include informative events like lunch talks featuring health and social topics,
recreational programmes that allows employees to let their hair down such as sports
tournaments, local and overseas vacation trips, car treasure hunts, informal get togethers
through the company's Family Day, Annual Dinner and Dance nights and festive charity
events.
C. Environment
Thirdly is Environment area when the Group is committed to being a sustainable organisation,
balancing economic, social and environmental goals while also protecting the needs of future
generations. It can divide by four issues which are:
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Initiatives were identified and embarked on to achieve 3 core objectives towards better
environmental management under the construction division.
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iii. Green IT
As the world's accelerating concerns over climate change and the sustainability of Planet
Earth has placed a spotlight on businesses and social circles to reduce carbon footprints,
the Group aims to make all IT aspects (operational, services and systems configurations)
support low energy consumption and a paper-less environment. In mid 2008, Sunway
undertook an exercise to identify and streamline current practices and energy usage to
embark upon a green savvy journey with objectives stated below:
D. Community
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Lastly is Community area, it has always been the Sunway's philosophy to continuously support
the local communities wherever it operates. Sunway has since the early days of its operations
been giving back to the society by reaching out to the needy. Sunway Group's unwavering
endeavour to contribute its profits to benefit the community as a whole was further
acknowledged when the Brand Laureate Societe Award for Philanthropy and Humanitarian
efforts was awarded to the Group in 2009. It can divide by four issues which are:
1. Education
The Sunway Education Trust Fund has been converted into the Jeffrey Cheah Foundation
for Education in March 2010. The ownership and equity rights of four of its learning
institutions are Sunway University College, Monash University Sunway Campus, Jeffrey
Cheah School of Medicine and Sunway International School has been officially and
legally transferred to the Foundation for future safe governance by a Board of Trustees. It
will deploy funds solely for the benefit of students through reinvestment into expansion
of facilities, enhancement of research capabilities, and most notably, fund scholarship to
deserving and needy students. Furthermore, Sunway has contributed RM11 million to
public schools adaptation programme. Notable restorations and donations in 2009
include:
i.Sekolah Kebangsaan Convent Klang
SK Convent Klang underwent major restoration and repair works thanks to
resources sponsored by the Sunway. The project, costing RM1 million, was
implemented to ensure that the convent, which was built in 1924, remains a safe
and conducive studying environment for resent and future students.
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The Sunway also runs a Job Placement Programme endorsed by the Ministry of
Education, Malaysia to recognising that every person deserves a chance to feel a sense of
belonging and purpose in society. Special needs students from the Sunway-sponsored
SMK Bandar Sunway are trained on basic work-related skills and ethics. Upon
graduation, these students are presented with certificates of accomplishment to seek
employment, where they are able to progress as independent members of the society’s
workforce.
2. External environment
Sunway launched the first Selangor Tourist Police Service Centre at Sunway Pyramid as
one of its continuous efforts to step up crime prevention in the city. This serves as a one-
stop centre to provide quick advice and solutions for tourists visiting Bandar Sunway.
Furthermore, the Police Service Centre also ensures that all tourists are safeguarded at all
times. The centre is opened from 10 am to 2 am and is equipped with the latest Police
Reporting System (PRS) to enable swift response to reports of crime as well as providing
assistance when required.
3. Healthcare
Organised in collaboration with Sunway Medical Centre and Pfizer, the Sunway Medical
Camp benefited 500 Bandar Sunway residents. The Medical Camp provided basic
healthcare checks and medical advice, free of charge. The event was fully manned by
volunteers, ranging from medical officers, nurses, lab technologists, Sunway employees
to students from SMK Bandar Sunway. Free basic medical services such as blood
pressure checks, cholesterol and diabetes examinations, as well as general counsel from
volunteer doctors and dieticians were provided.
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4. Charity events
Sunway organises charity events annually to reach out to the underprivileged and
unfortunate ones. In 2009, Sunway held a charity event in conjunction with Malaysia's
Merdeka Celebration at the Lost World of Tambun, Perak that benefited 200 children
from 5 orphanages within the region of Perak and 3 rural schools in Penang. 200
volunteers from the Sunway Group up north, central to down south made the event
possible. All the children were treated to fun games and facilities within the theme park
plus a special goodie bag.
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However, it is easier to state what a conceptual framework should be, than to actually precisely
define it. There have been several attempts made to devise such a framework, most recently
(March 1999) the revised Exposure Draft — Statement of Principles for Financial Reporting,
which is examined later in this article.
The main reasons for developing an agreed conceptual framework are that it provides:
However, the main draw-back of a conceptual framework is that it can be too general in nature
and the principles may, therefore, not help when actually producing the financial statements. In
addition, there may be further disagreement as to the content of the framework and the contents
of standards.
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SFAC No. 1
Objectives of Financial Reporting by Business Enterprises" presents the goals and
purposes of accounting.
SFAC No. 2.
Qualitative Characteristics of Accounting Information" examines the characteristics that
make accounting information useful.
SFAC No. 6.
Elements of Financial Statements," defines the broad classifications of items found in
financial statements and replaces SFAC No. 3, expanding its scope to include not for
profit organizations.
SFAC No. 4.
Objectives of Financial Reporting for Non business Organizations" provides guidelines
for not-for-profit and governmental entities.
SFAC No. 5.
Recognition and Measurement in Financial Statements of Business Enterprises" giving
guidance on what information should be formally incorporated into financial statements
and when.
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The objectives of financial reporting by business enterprise are including the users of accounting
information and the objectives of financial reporting.
For the use of accounting information, the objective is it will show the present and potential
investors and creditor. It also defines the user as the average prudent user with a reasonable
understanding of economic and business situations.
For the objectives of financial reporting, it objectives is to provide information that is useful in
making rational investment, credit and similar decisions, to help users assess the timing and
uncertainty of cash flows and to provide information on economic resources, claims and changes
in them.
Based on Sunway Holding Bhd, the users of accounting information for Sunway Holding Bhd
can divided into two groups which are external user and internal user. The external users for the
Sunway Holding Bhd are shareholder, investor, customers, vendor, and supplier.
• The Shareholder (investors) is the owners of a corporation. They use accounting
information in deciding whether to buy, hold or sell shares.
• The customer for Sunway Holding Bhd is based on the geographical location of its
customers a large customer base spread over several major cities.
• The supplier for Sunway Holding Bhd As is crucial for ensuring harmonious business
relationship.
The internal users for the Sunway Holding Bhd are directors, managers, officers, audit
committees, controllers and also employees.
• The director for the Sunway Holding Bhd are responsible in the preparation of the
Annual Audited Financial Statements to give a true and fair view of the state of affairs,
results and cash flows of the Company and of the Group at the end of the financial
period. In preparing the financial statements, the Directors will ensure that suitable
accounting policies have been applied consistently, and that reasonable and prudent
judgments and estimates have been made.
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• The objective of the Audit Committee is to assist the Board of Directors in fulfilling its
fiduciary responsibilities relating to internal controls, financial and accounting records
and policies as well as financial reporting practices of the Company and its subsidiaries.
Meanwhile, the objective of financial reporting in presenting the annual report and quarterly
announcement of results to shareholders, the Board aims to provide a balanced and
understandable assessment of the Group’s financial position, performance and prospects. The
Board is assisted by the Audit Committee to oversee the Group’s financial reporting processes
and the quality of its financial reporting. Financial reporting will provide information about
financial performance during a period and management’s discharge of its stewardship
responsibility to owners.
1. Primary Qualities
The primary qualities that make accounting information useful for decision making are relevance
and reliability.
Relevance.
Reliability
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2. Secondary Qualities
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Basic Elements Concepts Statement No. 6 defines ten interrelated elements that relate to
measuring the performance and financial status of a business enterprise.
i. Assets.
Probable future economic benefit obtained or controlled by particular entity as the result
of past transactions or events.
ii. Liabilities.
iii. Equity.
Residual interest in the assets of an entity that remains after deducting its liabilities. In a
business enterprise, the equity is the ownership interest.
Increases in net assets of a particular enterprise resulting from transfers to it from other
entities of something of value to obtain or increase ownership interests (or equity) in it.
Assets are most commonly received as investments by owners, but that which is received
may include services or satisfaction or conversion of liabilities of the enterprise.
v. Distribution to Owners.
Decreases in net assets of a particular enterprise that result from transferring assets,
rendering services, or incurring liabilities by the enterprise to owners. Distributions to
owners decrease ownership interests (or equity) in an enterprise.
Change in equity (net assets) of an entity during a period from transactions and other
events and circumstances from non-owner sources. It includes all
changes in equity during a period, except those resulting from investments by owners and
distributions to owners.
vii. Revenues.
viii. Expenses.
ix. Gains.
Increases in equity (net assets) from peripheral or incidental transactions of an entity and
from all other transactions and other events and circumstances affecting the entity during
a period except those that result from revenues or investments by owners.
x. Losses.
Decreases in equity (net assets) from peripheral or incidental transactions of an entity
from all other transactions and other events and circumstances affecting the entity during
a period except those that result from expenses or distributions to owners.
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a) Basic Assumptions
Going-Concern Assumption.
In the absence of contrary information, a business entity is assumed to remain in
existence for an indeterminate period of time. The current relevance of the historical cost
principle is dependent on the going-concern assumption.
Periodicity Assumption.
The life of an economic entity can be divided into artificial time periods for the purpose
of providing periodic reports on the economic activities of the entity.
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b) Basic Principles
Historical Cost Principle.
Acquisition cost is the most objective and verifiable basis upon which to account for
assets and liabilities of a business enterprise. Cost has been found to be more definite and
determinable than other suggested valuation methods.
Matching Principle.
Accountants attempt to match expenses incurred while earning revenues with the related
revenues. Use of accrual accounting procedures assists the accountant in allocating
revenues and expenses properly among the fiscal periods that compose the life of a
business enterprise.
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c) Constraints
Cost-Benefit Relationship.
This constraint relates to the notion that the benefits to be derived from providing certain
accounting information should exceed the costs of providing that information. The
difficulty in cost-benefit analysis is that the costs and especially the benefits are not
always evident or measurable.
Materiality.
In the application of basic accounting theory, an amount may be considered less
important because of its size in comparison with revenues and expenses, assets and
liabilities, or net income. Deciding when an amount is material in relation to other
amounts is a matter of judgment and professional expertise.
Industry Practices.
Basic accounting theory may not apply with equal relevance to every industry that
accounting must serve. The fair presentation of financial position and results of
operations for a particular industry may require a departure from basic accounting theory
because of the peculiar nature of an event or practice common only to that industry.
Conservatism.
When in doubt, an accountant should choose a solution that will be least likely to
overstate assets and income. The conservatism constraint should be applied only when
doubt exists.
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Financial reporting should provide information that is useful to present and potential investors
and creditors and other users in making rational investment, credit, and similar decisions. Its
helps present and potential investors, creditors and other users in assessing the amounts, timing,
and uncertainty of prospective cash receipts. Its also portrays the economic resources of an
enterprise, the claims to those resources, and the effects of transactions, events, and
circumstances that change its resources and claims to those resources.
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a) Primary Qualities:
The primary qualities that make accounting information useful for decision making are relevance
and reliability.
Relevance.
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Reliability.
Accounting information is reliable to the extent that it is verifiable, is a faithful
representation and is reasonably free of error and bias. To be reliable, accounting
information must include:
− Verifiable
− Representational faithfulness
− Neutral
b) Secondary Qualities:
The secondary qualities identified are comparability and consistency.
Comparability.
Accounting information that has been measured and reported in a similar manner for
different enterprises is considered comparable..
Consistency.
Accounting information is consistent when an entity applies the same accounting
treatment to similar events from period to period.
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The third level of the framework consists of concepts that implement the basic objectives
of level one. These concepts explain which, when, and how financial elements and events
should be recognized, measured, and reported by the accounting system.
Most of them are set forth in FASB Statement of Financial Accounting Concepts No. 5,
“Recognition and Measurement in Financial Statements of Business Enterprises.”
According to SFAC No. 5, to be recognized, an item (event or transaction) must meet the
definition of an “element of financial statements” as defined in SFAC No. 6 and must be
measurable. Most aspects of current practice are consistent with this recognition and
measurement concept.
There are:
d) Basic Assumptions
Going-Concern Assumption.
Periodicity Assumption.
e) Basic Principles
Historical Cost Principle.
Matching Principle.
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f) Constraints
Cost-Benefit Relationship.
Materiality.
Industry Practices.
Conservatism.
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The historical costs means transaction (assets or services acquired) are to be recorded at cost.
When assets are purchased, they are recorded at cost, and the accounting records of the assets are
maintained at cost. Cost is measured on a cash or equal-to-cash basis. This means if cash is
given for a service, its cost is measure as the amount of cash paid. If something besides cash is
exchanged, cost is measured as the cash value of what is given up or received. The historical cost
principle emphasizes reliability, and information based on cost is considered objective.
The financial statements of the Sunway Holdings Berhad have been prepared on a
historical basis, unless otherwise indicated in the summary of significant accounting policies. In
preparing the financial statements of the individual entities, transactions in currencies other than
the entity’s functional currency (foreign currencies) are recorded in the functional currencies
using the exchange rates prevailing at the dates of the transactions.
At each balance sheet date, monetary items denominated in foreign currencies are
translated at the rates prevailing on the balance sheet date. Non-monetary items carried at fair
value that are denominated in foreign currencies are translated at the rates prevailing on the date
when the fair value was determined. Non-monetary items that are measured in terms of historical
cost in a foreign currency are not translated.
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The revenue recognition principle provides guidance on when a company must recognize
revenue. To recognize means to record it. If revenue is recognized too early, a company would
look more profitable than it is. If revenue is recognized too late, a company would look less
profitable than it is. Generally, revenue is recognized when it is earned and not before. Revenue
is recorded in the period it is earned, that is when (1) the ownership has been transferred from
the seller to the buyer which is sales of goods; (2) the services has been completely provided to
the customer called rendering of services; (3) percentage of completion method based on
construction project and (4) cash is received from the customer that is installment method.
Based on the annual report of Sunway Holdings Berhad, the revenue is recognised to the
extent that it is probable that the economic benefits will flow to the Group and the revenue can
be reliably measured. The following specific recognition criteria must also be met before the
revenue is recognised:
Revenue from sale of properties is accounted for by the stage of completion method. When
the financial outcome of a development activity can be reliably estimated, property
development revenue and expenses are recognised in the income statement by using the stage
of completion method. The stage of completion is determined by the proportion that property
development costs incurred for work performed to date bear to the estimated total property
development costs.
Revenue from sale of land and property inventories is recognised net of discount and
upon transfer of significant risks and rewards of ownership to the purchasers. Revenue is not
recognised to the extent where there are significant uncertainties regarding recovery of the
consideration due, associated costs or possible return of property inventories.
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Rental income including those from investment properties is recognised on the accrual basis
unless recoverability is in doubt, in which case, it is recognised on receipt basis.
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Dividend income is recognised when the Group’s right to receive payment is established.
Interest income from short term deposits and advances is recognised on the accrual basis,
using the effective interest method, unless recoverability is in doubt, in which case, it is
recognised on receipt basis.
Revenue from construction contracts is accounted for by the stage of completion method.
Where the outcome of a construction contract can be reliably estimated, contract revenue
and contract costs are recognised as revenue and expenses respectively by using the stage
of completion method. The stage of completion is measured by reference to the
proportion of contract costs incurred for work performed to date to the estimated total
contract costs or by reference to the physical completion of the contract.
Revenue is recognised net of sales taxes and upon transfer of significant risks and rewards of
ownership to the buyer. Revenue is not recognised to the extent where there are significant
uncertainties regarding recovery of the consideration due, associated costs or the possible
return of goods.
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Revenue from services recognised is net of service taxes and discounts as and when the
services are performed.
Interest on lease and hire purchase are recognised as income on the ‘Rule of 78’ basis.
The full disclosure principle requires that a company’s financial statements report enough
information for users to make knowledgeable decisions about the company. In order to satisfy
the disclosure principle, companies add to the financial statements notes that disclose significant
accounting policies, probable losses, and accounting changes.
Sunway has kept its investors, analysts and fund managers informed through timely
announcements and disclosures made to Bursa Malaysia Securities Berhad, inclusive of the
quarterly announcements of financial results.
The business is assumed to continue to operate in the future. This concept enables accountants
to assume that a business will continue long enough to recover the cost of its assets. Financial
statements should be prepared on a going concern basis unless management either intends to
liquidate the enterprise or to cease trading, or has no realistic alternative but to do so.
From the audit committee report of Sunway Holdings Berhad, we can see that the
quarterly results and year end financial statements prior to the approval by the Board is focusing
particularly on the going concern assumption.
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The economic life of business can be divided into artificial time period for the purpose of
financial reporting. For example are in monthly, quarterly, half-yearly and yearly reports. This
assumption provides that financial information be reported at regular intervals so that decision
makers can compare business operations over time to assess the success or failure of the
business. This concept is the basis for accruals and adjusting entries prepared at the end of an
accounting period.
The directors of Sunway Holdings Berhad have pleasure in presenting their report
together with the audited financial statements of the Group and of the Company for the financial
period ended 31 December 2009. The Company also noted that they have changed its financial
year end from 30 June to 31 December. The current period under review is from 1 July 2008 to
31 December 2009.
From the auditor report, its shown that they have audited the financial statements of
Sunway Holdings Berhad, which comprise the balance sheets as at 31 December 2009 of the
Group and of the Company, and the income statements, statements of changes in equity and cash
flow statements of the Group and of the Company for the period then ended, and a summary of
significant accounting policies and other explanatory notes for users to make their own
assumptions and decision making about company’s performance.
Only transaction data that can be expressed in terms of money can be included in accounting
records. Money is the common denominator in business. Examples of monetary units are the
dollar in United States, Canada, Australia and Singapore.
The individual financial statements of each entity in the Group are measured using the
currency of the primary economic environment in which the entity operates (“the functional
currency”). The consolidated financial statements are presented in Ringgit Malaysia (RM),
which is also the Company’s functional currency.
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5.0 CONCLUSION
From our observation, we can state that Sunway Holdings Berhad not only focusing to reach
their profit from it seven business segments, but Sunway also involves in Corporate Social
Responsibilities (CSR). According to Bursa Malaysia’s CSR Framework, Sunway have divided
into four main focal areas to support the Group’s CSR program which are Marketplace,
Workplace, Environment and Community.
The conceptual framework are divided into 3 level which are basic objectives(first level),
qualitative characteristics and basic elements(second level) and last level is recognition and
measurement concepts.
Sunway Holdings Berhad also representing a clear picture of what really happened within their
company by following the Generally Accepted Accounting Principle (GAAP). Besides, it will
ensure that all companies playing in the same field and that the information presented was
consistent, relevant, reliable, and comparable.
So as a conclusion, we conclude that Sunway Holding was followed all the accounting rules and
standards and also applied all the standards when preparing Financial Statement that will be used
by all the users of Sunway Holdings.
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6.0 REFERENES
Belkaoui A.R., (2009). Accounting Theory, 6th ed., Business Press, U.K. (ARB)
Deegan, C. & Unerman, J., (2007). Financial Accounting Theory, 2nd ed., McGraw Hill,
Australia
Godfrey, J., Hodgson, A., Holme, S., & Tarca, A., (2006). Accounting Theory, 6th ed.,
John Wiley & Sons, Australia (GHHT)
Scott, W.R., (2009). Financial Accounting Theory, 5th ed., Pearson Prentice Hall
International Inc., Toronto (SWR
http://www.science.org.au/nova/034/034glo.htm
http://wps.prenhall.com/wps/media/objects/213/218150/glossary.html
http://www.fasb.org/cs/BlobServer?
blobcol=urldata&blobtable=MungoBlobs&blobkey=id&blobwhere=1175818764152
&blobheader=application%2Fpdf
http://media.wiley.com/product_data/excerpt/87/04710720/0471072087-1.pdf
http://www.businessdictionary.com/definition/conceptual-framework.html
http://accounting-master.blogspot.com/2009/03/conceptual-framework-of-accounting.html
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