MICPA ANNUAL REPORT 2004
Report of the Council
for the year ended December 31, 2004
The Council hereby submit their report and the audited
financial statements of the Institute for the financial year
ended December 31, 2004.
PRINCIPAL ACTIVITY
The principal activity of the Institute is the advancement
of the accountancy profession. There has been no
significant change in this activity during the financial
year.
unlikely to realise in the ordinary course of activities
their values as shown in the accounting records of the
Institute have been written down to an amount that they
might be expected to realise.
At the date of this report, the Council is not aware of
any circumstances that would render the values
attributed to the current assets in the financial statements
of the Institute misleading.
VALUATION METHODS
RESULTS
RM
Net operating surplus for the financial year
161,227
At the date of this report, the Council is not aware of
any circumstances which have arisen which would
render adherence to the existing methods of valuation
of assets or liabilities in the financial statements of the
Institute misleading or inappropriate.
DIVIDENDS
CONTINGENT AND OTHER LIABILITIES
In accordance with the Memorandum of Association,
no dividends are payable to the members of the
Institute.
At the date of this report, there does not exist:(i)
any charge on the assets of the Institute that has
arisen since the end of the financial year which
secures the liabilities of any other person; or
(ii)
any contingent liability in respect of the Institute
that has arisen since the end of the financial year.
RESERVES AND PROVISIONS
There were no material transfers to or from provisions
during the financial year. The Institute does not have
any reserve accounts.
BAD AND DOUBTFUL DEBTS
Before the income statement and balance sheet of the
Institute were made out, the Council took reasonable
steps to ascertain that action had been taken in relation
to the writing off of bad debts and the making of
allowance for doubtful debts and had satisfied
themselves that all known bad debts had been written
off and that no allowance had been made for doubtful
debts.
At the date of this report, the Council is not aware of
any circumstances which would render the amount
written off for bad debts or necessitate the allowance
for doubtful debts in the financial statements of the
Institute inadequate to any material extent.
No contingent liability or other liability of the Institute
has become enforceable, or is likely to become
enforceable, within the period of twelve months after
the end of the financial year which, in the opinion of the
Council, will or may substantially affect the ability of
the Institute to meet its obligations as and when they
fall due.
CHANGE OF CIRCUMSTANCES
At the date of this report, the Council is not aware of
any circumstances, not otherwise dealt with in this
report or the financial statements of the Institute, that
would render any amount stated in the financial
statements misleading.
ITEMS OF AN UNUSUAL NATURE
CURRENT ASSETS
54
Before the income statement and balance sheet of the
Institute were made out, the Council took reasonable
steps to ensure that any current assets which were
The results of the operations of the Institute for the
financial year were not, in the opinion of the Council,
substantially affected by any item, transaction or event
of a material and unusual nature.
MICPA ANNUAL REPORT 2004
There has not arisen in the interval between the end of
the financial year and the date of this report any item,
transaction or event of a material and unusual nature
likely, in the opinion of the Council, to affect substantially the results of the operations of the Institute for the
financial year in which this report is made.
COUNCIL
The Council members who served since the date of the
last report are:-
The following Council member also retires at the
Annual General Meeting pursuant to bye-law 5 but does
not wish to seek re-election:
Jeyaratnam Velupillai
The following nomination has been received for
election to the Council in accordance with bye-law 7:
Ng Kim Tuck
COUNCIL MEMBERS’ BENEFITS
Dato’ Ab Halim bin Mohyiddin
Dato’ Nordin Baharuddin
Abdul Jabbar Abdul Majid
Datuk Dr. Abdul Samad Hj Alias
Dato’ Ahmad Johan bin Mohammad Raslan
Ahmad Mustapha Ghazali (Appointed on June 26, 2004)
Beh Tok Koay
Eddie Chan Yean Hoe
(Resigned on June 26, 2004)
Chin Kwai Fatt
(Appointed on June 26, 2004)
Datin Hjh Fadzilah bte Saad
Halim bin Hj. Din
(Resigned on June 26, 2004)
Ho Heng Chuan
Jeyaratnam Velupillai
Khor Chin Peng
Lim Kian Thiam
Lim Kok Beng
Lim Tian Huat
Lim Thiam Kee
Loh Lay Choon
(Appointed on June 26, 2004)
Dato’ Hj Maidin bin Syed Ali
Mohamed Raslan Abdul Rahman
Poon Yew Hoe
Pushpanathan A/L S.A. Kanagarayar
Sam Soh Siong Hoon
Sukanta Kumar Dutt
Tan Chin Hock
Tan Ghee Kiat
Teh Chee Ghee
Dr Veerinderjeet Singh (Appointed on June 26, 2004)
Venkatramanan Viswanathan
Dato’ Yeo How
Datuk Robert Yong Kuen Loke
In accordance with bye-law 5, the following Council
members retire at the Annual General Meeting and,
being eligible, offer themselves for re-election:
Ho Heng Chuan
Lim Thiam Kee
Dato’ Hj Maidin bin Syed Ali
Dato’ Nordin Baharuddin
Poon Yew Hoe
Sam Soh Siong Hoon
Tan Chin Hock
Teh Chee Ghee
Datuk Robert Yong Kuen Loke
The Institute is a company limited by guarantee and thus
has no shares in which the Council members could have
an interest. The Institute has also not issued any
debentures.
Since the end of the previous financial year, no Council
member of the Institute has received or become entitled
to receive any benefit (other than a benefit in terms of
examiner’s fee received by a Council member as
disclosed in the financial statements) by reason of a
contract made by the Institute or a related corporation
with the Council member or with a firm of which the
Council member is a member, or with a company in
which the Council member has a substantial financial
interest.
Neither during nor at the end of the financial year, was
the Institute a party to any arrangements whose object is
to enable the Council members to acquire benefits by
means of the acquisition of shares in or debentures of
any body corporate.
AUDITORS
Tan Kim Leong, JP and Siew Kah Toong retire as
auditors of the Institute at the Annual General Meeting
pursuant to bye-law 121 and in accordance with byelaw 122, they are deemed to be nominated for reappointment as auditors for the ensuing financial year.
On behalf of the Council,
Dato’ Ab Halim Mohyiddin
President
Dato’ Nordin Baharuddin
Vice-President
Kuala Lumpur
May 31, 2005
55
MICPA ANNUAL REPORT 2004
Balance Sheet
as at December 31, 2004
2004
RM
2003
RM
6
7
8
84,106
377,721
128,395
92,487
496,511
211,354
9
10
15,945
527,515
255,000
35,559
12,305
427,522
55,000
12,386
834,019
507,213
168,968
836,167
109,744
2,553
32,770
1,014,171
80,151
2,462
1,117,432
1,129,554
Note
Non-Current Assets
Plant and equipment
Development costs of study manuals
Advances to MACPA Educational Trust Fund
Current Assets
Study manuals, at cost
Receivables, prepayments and deposits
Fixed deposits
Cash and bank balances
Current Liabilities
Fees in advance
Payables and accruals
Term loan (secured)
Tax liabilities
11
12
Net Current Liabilities
(283,413)
(622,341)
306,809
178,011
Balance at January 1
Net operating surplus for the financial year
(270,650)
161,227
(281,251)
10,601
Balance at December 31
(109,423)
(270,650)
416,232
448,661
306,809
178,011
Accumulated Fund/(Deficit)
Non-Current Liability
Term loan (secured)
56
12
The above Balance Sheet is to be read in conjunction with the notes to the financial statements on pages 60 to 69.
MICPA ANNUAL REPORT 2004
Income Statement
for the financial year ended December 31, 2004
Note
2004
RM
2003
RM
1,198,937
119,145
212,675
89,100
72,125
46,560
58,088
20,200
1,173,680
120,910
210,275
55,350
84,100
56,420
55,336
25,450
1,816,830
1,781,521
Income
Members’ annual fees
Examination fees
Practising certificate fees
Students’ exemption fees
Students’ annual fees
Members’ admission fees
Students’ registration and transfer fees
Provisional members’ fees
Income from Other Activities
13
1,215,093
932,134
Other Income
14
80,441
50,186
3,112,364
2,763,841
Operating Expenses
15
(2,142,996)
(2,110,939)
Expenses of Other Activities
13
(768,445)
(631,391)
200,923
21,511
(39,452)
(10,910)
161,471
10,601
Finance Cost
16
Operating Surplus Before Tax
Tax Expense
Net Operating Surplus for the Financial Year
17
(244)
161,227
–
10,601
The above Income Statement is to be read in conjunction with the notes to the financial statements on pages 60 to 69.
57
MICPA ANNUAL REPORT 2004
Statement of Recognised Gains and Losses
for the financial year ended December 31, 2004
Net operating surplus for the financial year
58
2004
RM
2003
RM
161,227
10,601
The above Statement of Recognised Gains and Losses is to be read in conjunction with the notes to the financial
statements on pages 60 to 69.
MICPA ANNUAL REPORT 2004
Cash Flow Statement
for the financial year ended December 31, 2004
Note
2004
RM
2003
RM
1,883,094
119,145
43,889
530,714
10,350
123,537
266,900
180,517
1,497,648
120,910
115,364
232,983
10,680
147,827
222,500
227,274
(2,941,594)
(153)
(5,944)
(14,074)
(2,493,060)
–
(16,812)
(29,280)
Cash Flows from Operating Activities
Cash receipts
Subscriptions
Examination fees
Journal and publications
Seminars
Tutorial courses
Study manuals
Examination workshop
Others
Cash payments
Operating expenses
Tax paid
Fees in advance
Study manuals
Net cash generated from operating activities
196,381
36,034
(7,117)
(19,371)
10,141
(88,041)
171,000
(511,528)
(96,619)
6,151
(280,926)
263,746
66,612
(619,176)
(39,820)
–
(8,068)
525,965
Net cash (used in)/generated from financing activities
(39,820)
517,897
Net Increase/(Decrease) in Cash and Cash Equivalents
223,173
(65,245)
62,386
127,631
285,559
62,386
Cash Flows from Investing Activities
Development cost of study manuals
Purchase of plant and equipment
Interest received from fixed deposits
Advances to MACPA Educational Trust Fund
Repayment from MACPA Educational Trust Fund
6
Net cash generated from/(used in) investing activities
Cash Flows from Financing Activities
Term loan interest paid
Term loan from a licensed bank
Cash and Cash Equivalents at Beginning of the Financial Year
Cash and Cash Equivalents at End of the Financial Year
18
The above Cash Flow Statement is to be read in conjunction with the notes to the financial statements on pages
60 to 69.
59
MICPA ANNUAL REPORT 2004
Notes to the Financial Statements
December 31, 2004
1.
GENERAL INFORMATION
The Institute is a company limited by guarantee, incorporated and domiciled in Malaysia.
The registered office and principal place of business of the Institute is located at No. 15, Jalan Medan
Tuanku, 50300 Kuala Lumpur.
The number of employees at the end of the financial year is 21 (2003: 21).
The financial statements are presented in Ringgit Malaysia.
2.
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The main risk arising from the Institute’s financial instruments is credit risk. The Council reviews and
agrees policies for managing the risks.
Credit Risk
Receivables and transactions with banking institutions may give rise to credit risk which requires the loss to
be recognised if a counter party fails to perform as contracted. The counter parties are licensed banking
institutions and professional organisations. It is the policy of the Institute to monitor the financial standing
of these counter parties on a going concern basis to ensure that the Institute is exposed to minimal credit risk.
Liquidity Risk
The Institute practises prudent liquidity risk management to minimise the mismatch of financial assets and
liabilities and to maintain sufficient credit facilities for contingent funding requirements of working capital.
Interest Rate Risk
The Institute ensures that it obtains borrowings and places fixed deposits at competitive rates under the most
favourable terms and conditions. Currently, the only borrowing is a term loan that bears interest at 1.5%
above the bank’s base lending rate per annum on monthly rests.
The Institute is also exposed to interest rate risk in respect of its fixed deposits with a licensed finance
company.
3.
PRINCIPAL ACTIVITY
The Institute is principally engaged in the advancement of the accountancy profession.
There has been no significant change in the nature of this activity during the financial year.
4.
BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention unless otherwise indicated
in the significant accounting policies. The financial statements comply with MASB approved accounting
standards and the provisions of the Companies Act, 1965.
The preparation of financial statements in conformity with MASB approved accounting standards and the
provisions of the Companies Act, 1965 requires the Council to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from those estimates.
60
MICPA ANNUAL REPORT 2004
5.
SIGNIFICANT ACCOUNTING POLICIES
(a)
Income and Expense Recognition
Membership and Students Fees
(i)
The subscription year of the Institute is January 1 to December 31. Membership and students’
annual fees are payable annually in advance. Only those membership and students’ annual
fees which are attributable to the current financial year are recognised as income. Fees
relating to periods beyond the current financial year are shown in the balance sheet as Fees in
Advance under the heading Current Liabilities.
(ii)
Membership admission and students’ registration fees are recognised upon approval of the
respective applications.
(iii)
Examination and exemption fees are recognised upon approval of the respective applications.
Interest Income
Interest income is recognised on the effective yield basis.
Other Activities
Other activities include providing continuing professional education courses, providing tutorial courses
for students, sale of publications and MICPA study manuals and organising other professional
development and students activities.
The policies of the Institute with respect to the recognition of income and expenses on such activities
are as follows:(i)
To the extent that activities are completed on or before the balance sheet date, any surplus or
deficit is recognised in the income statement.
(ii)
To the extent that activities take place after the end of the financial year, any income received
and expense incurred is recognised in the balance sheet.
(iii)
Income for sale of publications and MICPA study manuals is recognised when physical
control of the materials passes to the purchasers.
(iv)
The cost of publications, other than study manuals, is recognised in the income statement in
the financial year it is incurred.
Expenses on other activities relate to identifiable direct expenses.
(b)
Plant and Equipment and Depreciation
Plant and equipment are stated at cost less accumulated depreciation and impairment losses, if any.
Depreciation is calculated on a straight line basis to write off the cost of the plant and equipment over
their estimated useful lives. The annual rates of depreciation adopted are as follows:Furniture and fittings
Security system
Office equipment
Computers
10%
10%
20%
33%
Plant and equipment which have been fully depreciated are recorded at a nominal value of RM1.00.
The carrying amounts of plant and equipment are reviewed at each balance sheet date to determine
whether there is any indication of impairment. If any such indication exists, the recoverable amounts
are estimated. The impairment loss is charged to the income statement as soon as foreseeable.
Conversely, the impairment loss will be reversed up to the cumulative amount previously charged to
the income statement, once the indicator for impairment ceases to exist.
(c)
Study Manuals
The costs of development of the MICPA study manuals are capitalised and amortised on a straight
line basis over the economic life of the study manuals which is estimated at 5 years.
Stocks of study manuals are stated at the lower of cost and net realisable value. Cost is determined on
a first-in, first-out basis and consists of printing cost.
61
MICPA ANNUAL REPORT 2004
5.
SIGNIFICANT ACCOUNTING POLICIES (continued)
(d)
Receivables
Receivables are carried at anticipated realisable value. Bad debts are written off when identified. An
estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet
date.
(e)
Payables
Payables are stated at cost which is the fair value of the consideration to be paid in the future for
goods and services received.
(f)
Provisions
Provisions are recognised when there is a present obligation, legal or constructive, as a result of a
past event, when it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
(g)
Employee Benefits
Short-term Employee Benefits
Wages, salaries, social security contributions, paid annual leave, paid sick leave, bonuses and nonmonetary benefits are recognised as an expense in the year in which the associated services are
rendered by employees of the Institute.
Accumulating compensated absences such as paid annual leave are recognised as an expense when
services are rendered by employees that increase their entitlement to future compensated absences.
Non-accumulating compensated absences such as sick leave are recognised when the absences
occur.
Defined Contribution Plans
The Institute makes contributions to the Employees Provident Fund (“EPF”). The contributions are
recognised as an expense in the year to which they relate.
(h)
Income Tax
Income tax on the surplus or deficit for the year comprises current and deferred tax.
Current tax expense is the expected amount of income taxes payable in respect of the taxable surplus
for the year and is determined using the tax rates that have been enacted at the balance sheet date.
Deferred tax is provided, using the liability method, on temporary differences at the balance sheet
date between the tax bases of assets and liabilities and their carrying amounts in the financial
statements. In principle, deferred tax liabilities are recognised for all taxable temporary differences
and deferred tax assets are recognised for all deductible temporary differences, unused tax losses and
unused tax credits to the extent that it is probable that taxable profit will be available against which
the deductible temporary differences, unused tax losses and unused tax credits can be utilised.
Deferred tax is measured at the tax rates that are expected to apply in the period when the asset is
realised or the liability is settled, using the tax rates enacted or substantively enacted at the balance
sheet date.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current
tax assets against current tax liabilities and when the deferred tax assets and the deferred tax
liabilities relate to the income taxes levied by the same taxation authority.
(i)
62
Foreign Currency Transactions
Transactions in foreign currencies are translated into Ringgit Malaysia at rates of exchange ruling at
the date of the transaction and where settlements have not taken place by the financial year end, at the
exchange rates ruling at that date. Foreign exchange differences arising from translations are taken
to the income statement.
MICPA ANNUAL REPORT 2004
5.
SIGNIFICANT ACCOUNTING POLICIES (continued)
The closing rates used in the translation of foreign currency amounts are as follows:-
1 US Dollar (USD)
1 Sterling Pound
1 Australian Dollar (AUD)
(j)
2004
RM
2003
RM
3.80
7.32
2.96
3.80
6.97
–
Borrowing Cost
Interest relating to a financial instrument, classified as a financial liability, is reported as finance cost
in the income statement.
(k)
Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand, bank balances and short-term, highly liquid
investments that are readily convertible to cash and which are subject to an insignificant risk of
changes in value.
(l)
Financial Instruments
Term loan is recorded at the amount of proceeds received, net of transaction cost.
The accounting policies for other financial instruments are disclosed in the individual policies
associated with each item.
6.
PLANT AND EQUIPMENT
Office
equipment
RM
Furniture
and fittings
RM
Security
system
RM
Computers
RM
As at January 1
Additions
283,678
13,330
114,551
4,546
5,415
–
173,064
1,495
576,708
19,371
As at December 31
297,008
119,097
5,415
174,559
596,079
As at January 1
Charge for the financial year
278,584
6,699
50,683
8,128
2,696
302
152,258
12,623
484,221
27,752
As at December 31
285,283
58,811
2,998
164,881
511,973
11,725
60,286
2,417
9,678
84,106
2004
Total
RM
Cost
Accumulated depreciation
Net book value
As at December 31
63
MICPA ANNUAL REPORT 2004
6.
PLANT AND EQUIPMENT (continued)
Office
equipment
RM
Furniture
and fittings
RM
Security
system
RM
Computers
RM
As at January 1
Additions
281,939
1,739
47,884
66,667
2,395
3,020
147,871
25,193
480,089
96,619
As at December 31
283,678
114,551
5,415
173,064
576,708
As at January 1
Charge for the financial year
256,126
22,458
42,984
7,699
2,394
302
135,914
16,344
437,418
46,803
As at December 31
278,584
50,683
2,696
152,258
484,221
5,094
63,868
2,719
20,806
92,487
2004
RM
2003
RM
2003
Total
RM
Cost
Accumulated depreciation
Net book value
As at December 31
7.
DEVELOPMENT COSTS OF STUDY MANUALS
Development costs
Accumulated amortisation
614,024
917,707
(236,303) (421,196)
377,721
496,511
The development costs include an amount of RM54,929 relating to the development of examination
material in progress in the previous year.
8.
ADVANCES TO MACPA EDUCATIONAL TRUST FUND
The amount represents advances made by the Institute which are unsecured, interest free and have no fixed
terms of repayment.
9.
RECEIVABLES, PREPAYMENTS AND DEPOSITS
Receivable from Budget Commentary 2005/2004
Receivable from NACRA competition
Subscriptions receivables
Other receivables
Tax recoverable
Advance payment to education consultant for review
of MICPA qualification
Other prepayments
Deposits
The credit terms of subscriptions receivables are 30 days.
64
2004
RM
2003
RM
99,976
26,300
184,228
107,641
2,416
32,162
14,344
244,702
109,736
2,416
93,660
5,944
7,350
–
16,812
7,350
527,515
427,522
MICPA ANNUAL REPORT 2004
10.
FIXED DEPOSITS
Deposit with licensed bank (Note 18)
Fixed deposits with a licensed finance company
2004
RM
2003
RM
5,000
250,000
5,000
50,000
255,000
55,000
The deposit of RM5,000 (2003 : RM5,000) is held on lien by a licensed bank to secure a bank guarantee for
postal facilities.
The weighted average interest rates during the financial year for fixed deposits with a licensed finance
company is 3% (2003 : 3%) per annum.
The fixed deposits have an average maturity of 90 days (2003 : 90 days).
11.
PAYABLES AND ACCRUALS
Advances for study manuals
Due to students societies
Examiners’ fees payable
Other payables
Accruals
2004
RM
2003
RM
198,885
127,510
177,612
332,160
198,885
112,372
31,305
330,192
341,417
836,167 1,014,171
12.
TERM LOAN - SECURED
Repayable as follows:2004
RM
2003
RM
Current
- Within one year
109,744
80,151
Non-current
- More than one year but less than five years
416,232
448,661
525,976
528,812
The term loan bears interest at 1.5% above the bank’s base lending rate per annum. The term loan is fully
drawndown in December 2004 and is repayable by sixty equal monthly instalments of RM12,138 each,
commencing from January 2005. The weighted average interest rate during the financial year is 7.5%
(2003 : 7.9%) per annum.
The repayable amount of term loan within one year totalling RM109,744 relates to the principal sum only.
The term loan is secured by:(i)
Negative pledge over the assets of MICPA.
(ii)
Lienholder’s caveat over the property of MACPA Educational Trust Fund situated at No. 15, Jalan
Medan Tuanku, 50300 Kuala Lumpur.
65
MICPA ANNUAL REPORT 2004
13.
OTHER ACTIVITIES
2004
Income
RM
Expenses
RM
Surplus/
(Deficit)
RM
Examination workshops
Continuing professional education
Tutorial courses
Annual dinner
MICPA excellence awards
Journal and publications
Informal gatherings
MICPA study manuals
Business forum
Commemorative lecture and luncheon
MICPA golf tournament
266,900
305,214
10,350
63,470
11,090
8,689
10,875
123,537
225,500
33,680
49,858
189,721
153,866
2,400
75,535
23,290
5,612
8,341
136,256
64,473
50,435
50,515
77,179
151,348
7,950
(12,065)
(12,200)
3,077
2,534
(12,719)
161,027
(16,755)
(657)
1,109,163
760,444
348,719
–
102,200
3,730
–
5,147
–
–
2,854
1,215,093
768,445
446,648
2003
Income
RM
Expenses
RM
Surplus/
(Deficit)
RM
Examination workshops
Accountancy week
Continuing professional education
Tutorial courses
Annual dinner
MICPA excellence awards
Journal and publications
Informal gatherings
MICPA study manuals
268,500
24,000
232,983
10,680
29,400
10,685
6,779
74,097
175,427
207,305
35,079
110,039
3,050
48,191
20,434
5,282
67,216
134,795
61,195
(11,079)
122,944
7,630
(18,791)
(9,749)
1,497
6,881
40,632
832,551
631,391
201,160
2,133
97,450
–
–
2,133
97,450
932,134
631,391
300,743
Joint activities with other bodies:
NACRA Competition
Budget Commentary 2005
Joint seminars
Forum on International Education Standards
Joint activities with other bodies
NACRA Competition
Budget Commentary 2004
(5,147)
102,200
3,730
(2,854)
Expenses on the above activities relate to identifiable direct expenses only and do not include overhead
expenses.
The expenses for MICPA study manuals include the amortisation of the development costs for the study
manuals amounting to RM129,907 (2003: RM110,396).
66
MICPA ANNUAL REPORT 2004
14.
OTHER INCOME
Contribution by members
Advertisements in MICPA website
Interest on fixed deposits
Fine received from disciplinary proceedings
Sale of mailing labels
Others
15.
2004
RM
2003
RM
69,575
500
7,201
1,080
1,950
135
30,000
500
9,265
9,409
501
511
80,441
50,186
2004
RM
2003
RM
4,205
4,830
6,300
40,543
1,986
27,752
93,935
22,436
9,068
5,623
145,086
23,448
7,710
4,482
96,000
6,756
79,259
82,133
155,661
8,382
18,812
3,901
5,235
6,600
45,528
2,352
46,803
123,003
23,408
5,689
5,433
123,624
9,740
23,767
3,600
96,000
9,590
64,553
95,737
136,260
7,245
–
172,680
1,046,788
5,941
51,223
21,957
162,073
994,544
2,060
95,865
18,329
OPERATING EXPENSES
Advertisement expenses
AGM and Council meeting expenses
Auditors’ remuneration
Bad debts written off
Bank charges
Depreciation
Direct examination expenses
Electricity and water
General expenses
Insurance
Journal and technical pronouncements
Legal and professional fees
Maintenance
Medical expenses
Office rental
Periodicals and library stock
Postage and telephone
Printing and stationery
Professional development expenses
Publication of students’ course materials
Review of MICPA qualification
Staff costs
- Employees’ Provident Fund and SOCSO
- Salaries and bonus
Staff recreation fund
Subscriptions to international accountancy bodies
Travelling expenses
2,142,996 2,110,939
The direct examination expenses for 2004 include an amount of RM2,243 in respect of examiner’s fee paid
to a Council member.
16.
FINANCE COST
Term loan interest
2004
RM
2003
RM
39,452
10,910
67
MICPA ANNUAL REPORT 2004
17.
TAX EXPENSE
For tax purposes, the Institute is treated as a “Trade Association” under section 53(3) of the Income Tax Act,
1967 under which its income is taxed at scale rates.
Current tax expense
Underprovision in prior year
2004
RM
2003
RM
91
153
–
–
244
–
The numerical reconciliation between the effective tax rate and the applicable tax rate of the Institute is as
follows:
2004
%
2003
%
28.00
28.00
(0.02)
(26.79)
0.01
(1.15)
–
(28.00)
–
–
0.05
–
Income tax -prior year
0.09
–
Effective tax rate
0.14
–
Applicable tax rate
Tax effect in respect of:
Non taxable income
Utilisation of unabsorbed capital allowances
Non allowable expenses
Reduction in statutory tax rate
Deferred tax assets have not been recognised in respect of the following items:-
Unused tax losses
Unabsorbed capital allowances
2004
RM
2003
RM
166,784
9,080
168,967
49,123
175,864
218,090
The unused tax losses and unabsorbed capital allowances are available indefinitely for offset against future
taxable profits of the Institute subject to agreement of the Inland Revenue Board. Deferred tax assets have
not been recognised in respect of these items as it is not probable that future taxable profits will be available
against which the deductible temporary differences can be utilised.
68
MICPA ANNUAL REPORT 2004
18.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist of cash in hand and balances with banks and fixed deposits. Cash and
cash equivalents included in the cash flow statement comprise the following balance sheet amounts:-
19.
2004
RM
2003
RM
Fixed deposits
Cash and balances with banks
255,000
35,559
55,000
12,386
Less: Deposit with licensed bank under lien (Note 10)
290,559
(5,000)
67,386
(5,000)
285,559
62,386
FINANCIAL INSTRUMENTS
Credit Risk
As at December 31, 2004, the Institute has subscriptions receivables of RM184,228 which have been outstanding for more than 30 days, bank balances and deposits of RM289,559 with some major licensed banking institutions in Malaysia. Other than as mentioned, the Institute has no significant concentration of credit
risk. The maximum exposures to credit risk are represented by the carrying amounts of the financial assets
in the balance sheet.
Fair Values
The carrying amounts of the financial instruments of the Institute as at December 31, 2004 approximate
their fair values due to the relatively short term maturity of these financial instruments.
20.
AUTHORISATION FOR ISSUE OF FINANCIAL STATEMENTS
These financial statements were authorised for issue by the Council on May 31, 2005.
69
MICPA ANNUAL REPORT 2004
Statement by Council Members
In the opinion of the Council Members, the financial statements set out on pages 56 to 69 have been drawn up in
accordance with MASB approved accounting standards and the provisions of the Companies Act, 1965 so as to
give a true and fair view of the state of affairs of the Institute as at December 31, 2004 and of its results and cash
flows for the financial year ended on that date.
On behalf of the Council Members,
Dato’ Ab Halim Mohyiddin
President
Dato’ Nordin Baharuddin
Vice-President
Kuala Lumpur
May 31, 2005
Statutory Declaration
I, Tan Shook Kheng, being the officer primarily responsible for the financial management of The Malaysian
Institute of Certified Public Accountants, do solemnly and sincerely declare that the financial statements set out on
pages 56 to 69 are, to the best of my knowledge and belief, correct and I make this solemn declaration
conscientiously believing the same to be true and by virtue of the provisions of the Statutory Declarations Act,
1960.
Subscribed and solemnly declared by the abovenamed
Tan Shook Kheng
at Kuala Lumpur this
31st day of May, 2005
Before me:Lam Theng Sum
Commissioner for Oaths
Kuala Lumpur
70
)
)
)
MICPA ANNUAL REPORT 2004
Report of the Auditors to the Members of
The Malaysian Institute of Certified Public Accountants
(Institut Akauntan Awam Bertauliah Malaysia)
We have audited the financial statements set out on pages 56 to 69.
These financial statements are the responsibility of the Council.
It is our responsibility to form an independent opinion, based on our audit, on the financial statements and to report
our opinion to you, as a body, in accordance with Section 174 of the Companies Act, 1965 and for no other purpose.
We do not assume responsibility towards any other person for the content of this report.
We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by the Council, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion:(a)
(b)
the financial statements have been properly drawn up in accordance with MASB approved accounting
standards and the Companies Act, 1965 so as to give a true and fair view of:(i)
the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial
statements of the Institute; and
(ii)
the state of affairs of the Institute as at December 31, 2004 and of its results and cash flows for the
financial year then ended; and
the accounting and other records and the registers required by the Act to be kept by the Institute have been
properly kept in accordance with the provisions of the said Act.
Tan Kim Leong, JP
235/06/05(J/PH)
Chartered Accountant
Siew Kah Toong
1045/03/06 (J)
Chartered Accountant
Kuala Lumpur
May 31, 2005
71
MICPA ANNUAL REPORT 2004
Penyata Kewangan 2004
73
MICPA ANNUAL REPORT 2004
Laporan Majlis
bagi tahun berakhir 31 Disember 2004
Majlis dengan sukacitanya membentangkan laporan dan
penyata kewangan teraudit Institut bagi tahun kewangan
berakhir 31 Disember 2004.
Pada tarikh laporan ini, Majlis tidak mengetahui adanya
sebarang keadaan yang boleh menyebabkan nilai bagi
aset semasa dalam penyata kewangan Institut
mengelirukan.
KEGIATAN UTAMA
KAEDAH PENILAIAN
Kegiatan utama Institut ialah memajukan profesion
perakaunan. Dalam tahun kewangan, tidak berlaku
sebarang perubahan yang berkesan dalam kegiatan ini.
KEPUTUSAN KEWANGAN
RM
Lebihan kendalian bersih bagi
tahun kewangan
161,227
DIVIDEN
Menurut Memorandum Pertubuhan, tiada dividen akan
dibayar kepada ahli-ahli Institut.
REZAB DAN PERUNTUKAN
Sepanjang tahun ini, tiada sebarang pindahan penting
kepada atau daripada peruntukan. Institut tidak
mempunyai sebarang akaun rezab.
HUTANG LAPUK DAN HUTANG RAGU
Sebelum penyata pendapatan dan kunci kira-kira Institut
disediakan, Majlis telah mengambil langkah yang wajar
untuk menentukan bahawa tindakan berhubung dengan
penghapuskiraan hutang lapuk telah diambil dan elaun
hutang ragu dibuat dan mereka berpuashati bahawa
kesemua hutang lapuk yang diketahui telah dihapuskira
dan tiada elaun telah diberikan untuk hutang ragu.
Pada tarikh laporan ini, Majlis tidak mengetahui adanya
sebarang keadaan yang boleh menyebabkan jumlah
hutang lapuk yang dihapuskirakan atau jumlah elaun
hutang ragu yang diperuntukkan dalam penyata
kewangan Institut tidak mencukupi secara bermakna.
ASET SEMASA
Sebelum penyata pendapatan dan kunci kira-kira Institut
disediakan, Majlis telah mengambil langkah yang
munasabah untuk menentukan bahawa aset semasa yang
mungkin tidak dapat menghasilkan nilainya dalam
perjalanan aktiviti biasa, sepertimana dinyata dalam
rekod perakaunan Institut telahpun dikurangkan nilainya
kepada amaun yang dijangka dapat dihasilkan.
Pada tarikh laporan ini, Majlis tidak mengetahui adanya
sebarang keadaan yang timbul yang boleh
mengakibatkan pematuhan kepada kaedah yang sedia
ada bagi penilaian aset atau liabiliti dalam penyata
kewangan Institut mengelirukan atau tidak sesuai.
LIABILITI LUAR JANGKA
DAN LIABILITI LAIN
Pada tarikh laporan ini, tidak terdapat :(i)
sebarang gadaian ke atas aset Institut yang telah
diwujudkan semenjak akhir tahun kewangan yang
mencagarkan liabiliti mana-mana perseorangan
lain, atau
(ii) sebarang liabiliti luar jangka berhubung dengan
Institut yang timbul semenjak akhir tahun
kewangan.
Tidak ada liabiliti luar jangka atau liabiliti lain Institut
yang akan berkuatkuasa atau mungkin dikuatkuasakan
dalam tempoh dua belas bulan berikutan akhir tahun
kewangan ini yang, pada pendapat Majlis, akan atau
mungkin memberi kesan yang bermakna terhadap
keupayaan Institut untuk menyelesaikan tanggungantanggungannya apabila tiba masanya.
PERUBAHAN KEADAAN
Pada tarikh laporan ini, Majlis tidak mengetahui adanya
sebarang keadaan yang tidak ditangani dalam laporan
ini atau dalam penyata kewangan Institut, yang akan
menyebabkan mana-mana amaun yang dinyatakan
dalam penyata kewangan mengelirukan.
BUTIRAN LUARBIASA
Pada pendapat Majlis, hasil kendalian Institut bagi tahun
kewangan tidak dipengaruhi secara bermakna oleh
sebarang butiran, urus niaga atau kejadian penting dan
luarbiasa.
75
MICPA ANNUAL REPORT 2004
Dalam jangka masa di antara akhir tahun kewangan dan
tarikh laporan ini, tiada timbul sebarang butiran,
urusniaga atau kejadian penting dan luarbiasa yang, pada
pendapat Majlis, akan memberi kesan bermakna ke atas
hasil kendalian Institut bagi tahun kewangan dalam mana
laporan ini dibuat.
MAJLIS
Ahli-ahli Majlis yang berkhidmat sejak tarikh laporan
terakhir ialah:Dato’ Ab Halim bin Mohyiddin
Dato’ Nordin Baharuddin
Abdul Jabbar Abdul Majid
Datuk Dr. Abdul Samad Hj Alias
Dato’ Ahmad Johan bin Mohammad Raslan
Ahmad Mustapha Ghazali (Dilantik pada 26 Jun 2004)
Beh Tok Koay
Eddie Chan Yean Hoe (Meletak jawatan pada 26 Jun 2004)
Chin Kwai Fatt
(Dilantik pada 26 Jun 2004)
Datin Hjh Fadzilah bte Saad
Halim bin Hj. Din (Meletak jawatan pada 26 Jun 2004)
Ho Heng Chuan
Jeyaratnam Velupillai
Khor Chin Peng
Lim Kian Thiam
Lim Kok Beng
Lim Tian Huat
Lim Thiam Kee
Loh Lay Choon
(Dilantik pada 26 Jun 2004)
Dato’ Hj Maidin bin Syed Ali
Mohamed Raslan Abdul Rahman
Poon Yew Hoe
Pushpanathan A/L S.A. Kanagarayar
Sam Soh Siong Hoon
Sukanta Kumar Dutt
Tan Chin Hock
Tan Ghee Kiat
Teh Chee Ghee
Dr Veerinderjeet Singh (Dilantik pada 26 Jun 2004)
Venkatramanan Viswanathan
Dato’ Yeo How
Datuk Robert Yong Kuen Loke
Menurut undang-undang kecil 5, ahli-ahli Majlis berikut
bersara pada Mesyuarat Agung Tahunan dan layak
menawarkan diri mereka untuk dipilih semula:-
76
Ho Heng Chuan
Lim Thiam Kee
Dato’ Hj Maidin bin Syed Ali
Dato’ Nordin Baharuddin
Poon Yew Hoe
Sam Soh Siong Hoon
Tan Chin Hock
Teh Chee Ghee
Datuk Robert Yong Kuen Loke
Ahli yang berikut juga bersara pada Mesyuarat Agung
Tahunan menurut undang-undang kecil 5 tetapi tidak
ingin dipilih semula:Jeyaratnam Velupillai
Berikut adalah pencalonan yang telah diterima untuk
dipilih ke Majlis mengikut undang-undang kecil 7:Ng Kim Tuck
MANFAAT AHLI-AHLI MAJLIS
Institut ini adalah sebuah syarikat berhad dengan jaminan
dan oleh itu tidak mempunyai syer dalam mana ahliahli Majlis boleh mempunyai kepentingan. Institut juga
tidak mengeluarkan sebarang debentur.
Sejak akhir tahun kewangan yang lepas, tiada seorang
ahli Majlis Institut telah menerima atau berhak menerima
sebarang manfaat (selain daripada manfaat dalam bentuk
bayaran perkhidmatan pemeriksa yang diterima oleh
seorang ahli Majlis seperti yang dinyatakan dalam
penyata kewangan) akibat dari perjanjian yang dibuat
oleh Institut atau syarikat berkaitan dengan ahli Majlis
atau dengan firma di mana ahli Majlis adalah seorang
ahli, atau dengan syarikat di mana ahli Majlis
mempunyai kepentingan kewangan yang ketara.
Institut sama ada dalam tahun atau pada akhir tahun tidak
mengambil bahagian dalam sebarang peraturan yang
bertujuan untuk membolehkan ahli-ahli Majlis mendapat
faedah melalui perolehan syer atau debentur dalam
sebarang badan korporat.
JURUAUDIT
Tan Kim Leong, JP dan Siew Kah Toong akan bersara
sebagai juruaudit Institut pada Mesyuarat Agung
Tahunan menurut undang-undang kecil 121 dan
mengikut undang-undang kecil 122, mereka dengan ini
dicalonkan untuk perlantikan semula sebagai juruaudit
untuk tahun yang berikutnya.
Bagi pihak Majlis,
Dato’ Ab Halim Mohyiddin
Presiden
Dato’ Nordin Baharuddin
Naib Presiden
Kuala Lumpur
31 Mei 2005
MICPA ANNUAL REPORT 2004
Kunci Kira-kira
pada 31 Disember 2004
2004
RM
2003
RM
6
7
8
84,106
377,721
128,395
92,487
496,511
211,354
9
10
15,945
527,515
255,000
35,559
12,305
427,522
55,000
12,386
834,019
507,213
168,968
836,167
109,744
2,553
32,770
1,014,171
80,151
2,462
1,117,432
1,129,554
Nota
Aset Bukan Semasa
Loji dan peralatan
Kos pembangunan buku panduan belajar
Pendahuluan kepada Tabung Amanah Pendidikan MACPA
Aset Semasa
Buku panduan belajar, pada kos
Penerimaan, prabayaran dan deposit
Simpanan tetap
Wang tunai dan baki di bank
Liabiliti Semasa
Yuran pendahuluan
Pemiutang dan akruan
Pinjaman berjangka (dijamin)
Cukai tanggungan
11
12
Liabiliti Semasa Bersih
(283,413)
(622,341)
306,809
178,011
Baki pada 1 Januari
Lebihan kendalian bersih bagi tahun kewangan
(270,650)
161,227
(281,251)
10,601
Baki pada 31 Disember
(109,423)
(270,650)
416,232
448,661
306,809
178,011
Dana/(Defisit) Terkumpul
Liabiliti Bukan Semasa
Pinjaman berjangka (dijamin)
12
Kunci Kira-kira di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat 81 hingga 90.
77
MICPA ANNUAL REPORT 2004
Penyata Pendapatan
bagi tahun kewangan berakhir 31 Disember 2004
Nota
2004
RM
2003
RM
1,198,937
119,145
212,675
89,100
72,125
46,560
58,088
20,200
1,173,680
120,910
210,275
55,350
84,100
56,420
55,336
25,450
1,816,830
1,781,521
Pendapatan
Yuran tahunan ahli
Yuran peperiksaan
Yuran sijil pengamalan
Yuran pengecualian pelajar
Yuran tahunan pelajar
Yuran kemasukan ahli
Yuran pendaftaran dan pemindahan pelajar
Yuran ahli sementara
Pendapatan daripada Aktiviti Lain
13
1,215,093
932,134
Pendapatan Lain
14
80,441
50,186
3,112,364
2,763,841
Belanja Kendalian
15
(2,142,996)
(2,110,939)
Belanja Aktiviti Lain
13
(768,445)
(631,391)
200,923
21,511
(39,452)
(10,910)
161,471
10,601
Kos Kewangan
16
Lebihan Kendalian Sebelum Cukai
Belanja Cukai
Lebihan Kendalian Bersih bagi Tahun Kewangan
78
17
(244)
161,227
–
10,601
Penyata Pendapatan di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat
81 hingga 90.
MICPA ANNUAL REPORT 2004
Penyata Keuntungan dan Kerugian yang diiktiraf
bagi tahun kewangan berakhir 31 Disember 2004
Lebihan kendalian bersih bagi tahun kewangan
2004
RM
2003
RM
161,227
10,601
Penyata Keuntungan dan Kerugian yang Diiktiraf di atas hendaklah dibaca bersama dengan nota kepada penyata
kewangan di mukasurat 81 hingga 90.
79
MICPA ANNUAL REPORT 2004
Penyata Aliran Tunai
bagi tahun kewangan berakhir 31 Disember 2004
2004
RM
2003
RM
Penerimaan tunai
Yuran
Yuran peperiksaan
Jurnal dan penerbitan
Seminar
Kursus bimbingan
Buku panduan belajar
Bengkel peperiksaan
Lain-lain
1,883,094
119,145
43,889
530,714
10,350
123,537
266,900
180,517
1,497,648
120,910
115,364
232,983
10,680
147,827
222,500
227,274
Bayaran tunai
Belanja kendalian
Cukai dibayar
Yuran pendahuluan
Buku panduan belajar
(2,941,594)
(153)
(5,944)
(14,074)
(2,493,060)
–
(16,812)
(29,280)
Nota
Aliran Tunai daripada Aktiviti Kendalian
Tunai bersih terjana daripada aktiviti kendalian
196,381
36,034
(7,117)
(19,371)
10,141
(88,041)
171,000
(511,528)
(96,619)
6,151
(280,926)
263,746
66,612
(619,176)
(39,820)
–
(8,068)
525,965
Tunai bersih (diguna dalam)/terjana daripada aktiviti pembiayaan
(39,820)
517,897
Lebihan/(Kurangan) Bersih dalam Tunai dan Kesetaraan Tunai
223,173
(65,245)
62,386
127,631
285,559
62,386
Aliran Tunai daripada Aktiviti Pelaburan
Kos pembangunan buku panduan belajar
Pembelian loji dan peralatan
Faedah diterima daripada simpanan tetap
Pendahuluan kepada Tabung Amanah Pendidikan MACPA
Pembayaran balik daripada Tabung Amanah Pendidikan MACPA
6
Tunai bersih terjana/(diguna dalam) aktiviti pelaburan
Aliran Tunai daripada Aktiviti Pembiayaan
Bayaran bunga untuk pinjaman berjangka
Pinjaman berjangka dari sebuah bank berlesen
Tunai dan Kesetaraan Tunai pada Awal Tahun Kewangan
Tunai dan Kesetaraan Tunai pada Akhir Tahun Kewangan
80
18
Penyata Aliran Tunai di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat
81 hingga 90.
MICPA ANNUAL REPORT 2004
Nota Kepada Penyata Kewangan
31 Disember 2004
1.
MAKLUMAT AM
Institut ini adalah sebuah syarikat berhad dengan jaminan, diperbadankan dan berdomisil di Malaysia.
Pejabat berdaftar dan tempat utama perniagaan Institut terletak di No. 15, Jalan Medan Tuanku, 50300
Kuala Lumpur.
Jumlah pekerja pada akhir tahun kewangan adalah 21 (2003: 21).
Penyata kewangan telah dibentangkan dalam Ringgit Malaysia.
2.
OBJEKTIF DAN DASAR PENGURUSAN RISIKO KEWANGAN
Risiko utama yang timbul dari instrumen kewangan Institut ialah risiko kredit. Majlis menyemak semula
dan mempersetujukan dasar untuk pengurusan risiko.
Risiko Kredit
Penghutang dan urus niaga dengan institusi perbankan mungkin menimbulkan risiko kredit yang memerlukan
kerugian diiktirafkan sekiranya pihak peniaga balas gagal melaksanakan urusan mengikut kontrak. Pihak
peniaga balas adalah institusi perbankan berlesen dan organisasi profesional. Adalah menjadi dasar Institut
untuk memantau kedudukan kewangan pihak peniaga balas secara berterusan untuk memastikan bahawa
pendedahan Institut terhadap risiko kredit adalah minimum.
Risiko Mudah Tunai
Institut mengamalkan pengurusan risiko mudah tunai yang hemat untuk meminimumkan ketidakpadanan
antara aset dan liabiliti kewangan dan mengekalkan kemudahan kredit yang mencukupi untuk keperluan
pembiayaan kontingen modal kerja.
Risiko Kadar Faedah
Institut memastikan bahawa ia mendapatkan pinjaman dan meletakkan simpanan tetap pada kadar faedah
yang kompetitif di bawah syarat-syarat yang menguntungkan. Pada masa kini, pinjaman yang dipunyainya
adalah pinjaman berjangka yang dikenakan faedah pada 1.5% lebih daripada kadar pinjaman asas (BLR)
setahun dikira setiap bulan.
Institut juga terdedah kepada risiko kadar faedah yang berkaitan dengan pelaburan simpanan tetapnya dengan
sebuah syarikat kewangan yang berlesen.
3.
KEGIATAN UTAMA
Kegiatan utama Institut ialah memajukan profesion perakaunan.
Dalam tahun kewangan, tidak berlaku perubahan yang berkesan dalam kegiatan ini.
4.
ASAS PENYEDIAAN
Penyata kewangan telah disediakan berasaskan konvensyen kos sejarah kecuali sepertimana yang dinyatakan
sebaliknya dalam dasar perakaunan penting. Penyata kewangan mematuhi piawaian perakaunan yang diluluskan
oleh MASB dan peruntukan Akta Syarikat, 1965.
Penyediaan penyata kewangan menurut piawaian perakaunan yang diluluskan oleh MASB dan peruntukan
Akta Syarikat, 1965 memerlukan Majlis membuat anggaran dan andaian yang memberi kesan ke atas jumlah
aset dan liabiliti dilaporkan dan pendedahan aset dan liabiliti luar jangka pada tarikh penyata kewangan dan
jumlah pendapatan dan belanja dilaporkan dalam tempoh pelaporan. Keputusan sebenar boleh berlainan
daripada anggaran.
81
MICPA ANNUAL REPORT 2004
5.
DASAR-DASAR PERAKAUNAN PENTING
(a)
Pengiktirafan Pendapatan dan Belanja
Yuran Ahli dan Pelajar
(i)
Tahun yuran Institut ialah 1 Januari hingga 31 Disember. Yuran tahunan ahli dan pelajar kena
dibayar terdahulu setiap tahun. Hanya yuran tahunan ahli dan pelajar yang berpunca dari
tahun kewangan semasa diiktiraf sebagai pendapatan. Yuran berhubung dengan tempoh selepas
tahun kewangan semasa ditunjukkan dalam kunci kira-kira sebagai Yuran Pendahuluan di
bawah tajuk Liabiliti Semasa.
(ii)
Yuran kemasukan ahli dan yuran pendaftaran pelajar diiktiraf apabila permohonan masingmasing diluluskan.
(iii)
Yuran peperiksaan dan pengecualian diiktiraf apabila permohonan masing-masing diluluskan.
Pendapatan Faedah
Pendapatan faedah diiktiraf berasaskan kadar hasil yang efektif.
Aktiviti Lain
Aktiviti lain termasuk penyediaan kursus pendidikan profesional berterusan, kursus bimbingan
untuk pelajar, jualan penerbitan dan buku panduan belajar MICPA dan pengelolaan aktiviti
pembangunan profesional dan aktiviti pelajar lain.
Dasar Institut mengenai pengiktirafan pendapatan dan belanja bagi aktiviti sebegini adalah seperti
berikut:(i)
Setakat aktiviti disempurnakan pada atau sebelum tarikh kunci kira-kira, sebarang lebihan
atau kurangan diiktiraf dalam penyata pendapatan.
(ii)
Setakat aktiviti dilaksanakan selepas akhir tahun kewangan, sebarang pendapatan diterima
dan belanja dilakukan diiktiraf dalam kunci kira-kira.
(iii)
Pendapatan daripada jualan penerbitan dan buku panduan belajar MICPA diiktiraf apabila
kawalan fizikal barangan dipindah kepada pembeli.
(iv)
Kos penerbitan, selain daripada buku panduan belajar, diiktiraf dalam penyata pendapatan
dalam tahun kewangan ia berlaku.
Belanja aktiviti lain berhubung dengan belanja langsung yang boleh dikenalpasti.
(b)
Loji dan Peralatan dan Susut Nilai
Loji dan peralatan dicatat pada kos, tolak susut nilai terkumpul dan kerugian kemerosotan nilai
terkumpul.
Susut nilai dikira supaya menghapuskira kos loji dan peralatan mengikut asas garis lurus ke atas
hayat bergunanya yang dijangkakan. Kadar susut nilai tahunan yang dipakai adalah seperti berikut :Perabot dan lengkapan
Sistem kawalan
Peralatan pejabat
Komputer
10%
10%
20%
33%
Loji dan peralatan yang telah disusut nilai sepenuhnya dicatat pada nilai nominal RM1.00.
Nilai buku loji dan peralatan disemak semula pada setiap tarikh kunci kira-kira untuk menentukan
sama ada berwujud tanda-tanda kemerosotan nilai. Sekiranya tanda-tanda tersebut wujud, jumlah
yang boleh didapati kembali dianggarkan. Kerugian kemerosotan nilai diiktiraf dalam penyata
pendapatan sebaik sahaja didapati akan berlaku pada masa hadapan berjangka. Sebaliknya, kerugian
kemerosotan nilai diambilkira balik hingga jumlah terkumpul yang diiktiraf dalam penyata pendapatan
sebelum ini, pada ketika tanda kemerosotan nilai tidak wujud lagi.
82
MICPA ANNUAL REPORT 2004
5.
DASAR-DASAR PERAKAUNAN PENTING (sambungan)
(c)
Buku Panduan Belajar
Kos pembangunan buku panduan belajar MICPA dipermodalkan dan dilunaskan mengikut asas garis
lurus ke atas hayat ekonomi buku panduan belajar yang dianggarkan sepanjang 5 tahun.
Stok buku panduan belajar dicatat pada nilai terendah antara kos sejarah dan nilai boleh direalis
bersih. Kos ditentukan mengikut asas masuk-dulu, keluar-dulu dan terdiri daripada kos percetakan.
(d)
Penghutang
Penghutang dinyatakan pada nilai jangkaan yang boleh direalis. Hutang lapuk dihapuskira apabila
dikenal pasti. Anggaran dibuat untuk hutang ragu yang berasaskan semak semula semua amaun yang
belum bayar pada tarikh kunci kira-kira.
(e)
Pemiutang
Pemiutang dinyatakan pada kos iaitu nilai saksama balasan yang akan dibayar pada masa hadapan
bagi barang-barang dan perkhidmatan yang diterima.
(f)
Peruntukan
Peruntukan diiktiraf apabila terdapat obligasi semasa, sama ada sah di sisi undang-undang atau
konstruktif, yang diakibatkan oleh peristiwa lepas, apabila terdapatnya kemungkinan bahawa aliran
keluar sumber melibatkan manfaat ekonomi akan diperlukan untuk menyelesaikan obligasi tersebut
dan anggaran yang boleh dipercayai dapat dibuat bagi amaun obligasi.
(g)
Manfaat Kakitangan
Manfaat Kakitangan Jangka Pendek
Upah, gaji, caruman keselamatan sosial, cuti tahunan berbayar, cuti sakit berbayar, bonus dan faedah
bukan kewangan diiktiraf sebagai belanja pada tahun yang mana perkhidmatan berkaitan diberikan
oleh kakitangan Institut.
Ketidakhadiran terimbuh terkumpul seperti cuti tahunan berbayar adalah diiktiraf sebagai belanja
apabila perkhidmatan diberikan oleh kakitangan meningkatkan hak mereka bagi ketidakhadiran
terimbuh masa depan. Ketidakhadiran terimbuh tak terkumpul seperti cuti sakit adalah diiktiraf apabila
berlakunya ketidakhadiran itu.
Rancangan Caruman Tetap
Institut membuat caruman kepada Kumpulan Wang Simpanan Pekerja (“ KWSP”). Caruman diiktiraf
sebagai belanja dalam tahun ianya berlaku.
(h)
Cukai Pendapatan
Cukai pendapatan ke atas lebihan atau defisit bagi tahun kewangan terdiri daripada cukai semasa dan
cukai tertunda.
Belanja cukai semasa merupakan amaun cukai pendapatan yang dijangkakan perlu dibayar ke atas
lebihan bercukai bagi tahun dan ditentukan mengikut kadar cukai yang dikuatkuasakan pada tarikh
kunci kira-kira.
Cukai tertunda adalah diperuntukkan, mengikut kaedah liabiliti, ke atas perbezaan sementara pada
tarikh kunci kira-kira antara asas cukai aset dan liabiliti dan nilai bukunya dalam penyata kewangan.
Pada prinsipnya, liabiliti cukai tertunda diiktiraf bagi semua perbezaan sementara yang boleh dikenakan
cukai dan aset cukai tertunda diiktiraf bagi semua perbezaan sementara yang boleh diberikan potongan,
kerugian cukai belum diserap dan kredit cukai belum guna setakat terdapat kemungkinan keuntungan
bercukai akan berlaku terhadapnya perbezaaan sementara yang boleh diberikan potongan, kerugian
cukai belum diserap dan kredit cukai belum guna boleh dipakai.
Cukai tertunda ditetapkan pada kadar cukai yang dijangka terpakai dalam tempoh aset direalis atau
liabiliti diselesaikan dengan menggunakan kadar cukai yang dikuatkuasakan atau hampir
dikuatkuasakan pada tarikh kunci kira-kira.
83
MICPA ANNUAL REPORT 2004
5.
DASAR-DASAR PERAKAUNAN PENTING (sambungan)
Aset dan liabiliti cukai tertunda diimbang balas sekiranya terdapat hak yang sah untuk mengimbang
balas aset cukai semasa dengan liabiliti cukai semasa dan juga aset cukai tertunda dan liabiliti cukai
tertunda adalah berkaitan dengan cukai pendapatan yang dikenakan oleh pihak berkuasa cukai yang
sama.
(i)
Urus Niaga Matawang Asing
Urus niaga dalam matawang asing diterjemahkan kepada Ringgit Malaysia pada kadar pertukaran
yang terpakai pada tarikh urus niaga berlaku dan di mana penyelesaian belum berlaku pada akhir
tahun kewangan, pada kadar semasa yang terpakai pada tarikh tersebut. Perbezaan pertukaran asing
yang wujud dari penterjemahan dibawa ke penyata pendapatan.
Kadar penutup yang digunakan untuk terjemahan amaun dalam matawang asing adalah seperti berikut:-
1 US Dollar (USD)
1 Sterling Pound
1 Australian Dollar (AUD)
(j)
2004
RM
2003
RM
3.80
7.32
2.96
3.80
6.97
–
Kos Peminjaman
Faedah berkaitan dengan instrumen kewangan, terkelas sebagai liabiliti kewangan, dilaporkan sebagai
kos kewangan di dalam penyata pendapatan.
(k)
Tunai dan Kesetaraan Tunai
Tunai dan kesetaraan tunai terdiri daripada tunai dalam tangan, baki bank dan pelaburan jangka
pendek yang amat mudah cair yang boleh ditukar dengan mudah kepada tunai dan tertakluk kepada
risiko perubahan nilai yang tidak ketara.
(l)
Instrumen Kewangan
Pinjaman berjangka dicatat pada amaun yang diterima selepas menolak kos urus niaga.
Dasar perakaunan untuk instrumen kewangan lain adalah dinyatakan dalam dasar individu yang
berkaitan dengan tiap-tiap instrumen.
6.
LOJI DAN PERALATAN
Peralatan
pejabat
RM
Perabot dan
lengkapan
RM
Sistem
kawalan
RM
Komputer
RM
Jumlah
RM
Pada 1 Januari
Tambahan
283,678
13,330
114,551
4,546
5,415
–
173,064
1,495
576,708
19,371
Pada 31 Disember
297,008
119,097
5,415
174,559
596,079
Pada 1 Januari
Susut nilai bagi tahun kewangan
278,584
6,699
50,683
8,128
2,696
302
152,258
12,623
484,221
27,752
Pada 31 Disember
285,283
58,811
2,998
164,881
511,973
11,725
60,286
2,417
9,678
84,106
2004
Kos
Susut nilai terkumpul
Nilai buku bersih
84
Pada 31 Disember
MICPA ANNUAL REPORT 2004
6.
LOJI DAN PERALATAN (sambungan)
Peralatan
pejabat
RM
Perabot dan
lengkapan
RM
Sistem
kawalan
RM
Komputer
RM
Jumlah
RM
Pada 1 Januari
Tambahan
281,939
1,739
47,884
66,667
2,395
3,020
147,871
25,193
480,089
96,619
Pada 31 Disember
283,678
114,551
5,415
173,064
576,708
Pada 1 Januari
Susut nilai bagi tahun kewangan
256,126
22,458
42,984
7,699
2,394
302
135,914
16,344
437,418
46,803
Pada 31 Disember
278,584
50,683
2,696
152,258
484,221
5,094
63,868
2,719
20,806
92,487
2003
Kos
Susut nilai terkumpul
Nilai buku bersih
Pada 31 Disember
7.
KOS PEMBANGUNAN BUKU PANDUAN BELAJAR
Kos pembangunan
Pelunasan terkumpul
2004
RM
2003
RM
614,024
(236,303)
917,707
(421,196)
377,721
496,511
Kos pembangunan termasuk amaun RM54,929 yang berkaitan dengan pembangunan bahan-bahan
peperiksaan yang sedang dijalankan pada tahun sebelumnya.
8.
PENDAHULUAN KEPADA TABUNG AMANAH PENDIDIKAN MACPA
Amaun ini merupakan pendahuluan yang dibuat oleh Institut yang tidak bercagar, tanpa faedah dan tidak
mempunyai syarat pembayaran balik yang tetap.
9.
PENGHUTANG, PRABAYARAN DAN DEPOSIT
Hutang dari Ulasan Belanjawan 2005/2004
Hutang dari pertandingan NACRA
Yuran belum diterima
Pelbagai penghutang
Cukai yang dapat diperolehi semula
Bayaran pendahuluan kepada penasihat pendidikan
untuk semakan semula kelayakan MICPA
Bayaran terdahulu lain
Deposit
2004
RM
2003
RM
99,976
26,300
184,228
107,641
2,416
32,162
14,344
244,702
109,736
2,416
93,660
5,944
7,350
–
16,812
7,350
527,515
427,522
Tempoh kredit bagi yuran belum diterima adalah 30 hari.
85
MICPA ANNUAL REPORT 2004
10.
SIMPANAN TETAP
Simpanan dengan bank berlesen (Nota 18)
Simpanan tetap dengan sebuah syarikat kewangan berlesen
2004
RM
2003
RM
5,000
250,000
5,000
50,000
255,000
55,000
Simpanan sebanyak RM5,000 (2003 : RM5,000) adalah dipegang oleh sebuah bank berlesen sebagai lien
untuk mendapatkan jaminan bank bagi kemudahan pos.
Kadar faedah purata berwajaran pada tahun kewangan untuk simpanan tetap dengan sebuah syarikat kewangan
berlesen adalah 3% (2003 : 3%) setahun.
Simpanan tetap tersebut mempunyai jangka matang purata selama 90 hari (2003 : 90 hari).
11.
PEMIUTANG DAN AKRUAN
Pendahuluan untuk buku panduan belajar
Hutang kepada persatuan pelajar
Bayaran pemeriksa belum bayar
Pemiutang lain
Akruan
12.
2004
RM
2003
RM
198,885
127,510
–
177,612
332,160
198,885
112,372
31,305
330,192
341,417
836,167
1,014,171
PINJAMAN BERJANGKA BERCAGAR
Bayaran balik bagi pinjaman adalah seperti berikut:2004
RM
2003
RM
Semasa
- Dalam masa satu tahun
109,744
80,151
Bukan Semasa
- Lebih dari satu tahun tetapi kurang dari lima tahun
416,232
448,661
525,976
528,812
Pinjaman berjangka dikenakan faedah pada 1.5% lebih daripada kadar pinjaman asas (BLR) setahun.
Pinjaman berjangka tersebut dikeluar guna sepenuhnya pada Disember 2004 dan kena dibayar balik dengan
enam-puluh ansuran bulanan sebanyak RM12,138 setiap satu bermula dari Januari 2005. Kadar faedah
purata berwajaran pada tahun kewangan adalah 7.5% (2003 : 7.9%) setahun.
Amaun bayaran balik pinjaman berjangka dalam masa satu tahun berjumlah RM109,744 merupakan bayaran
balik pokok sahaja.
Pinjaman berjangka bercagar secara:-
86
(i)
“Negative pledge” ke atas aset MICPA.
(ii)
“Lienholder’s caveat” ke atas hartanah Tabung Amanah Pendidikan MACPA yang terletak di
No. 15, Jalan Medan Tuanku, 50300 Kuala Lumpur.
MICPA ANNUAL REPORT 2004
13.
AKTIVITI LAIN
2004
Bengkel peperiksaan
Pendidikan profesional berterusan
Kursus bimbingan
Majlis jamuan tahunan
Anugerah kecemerlangan MICPA
Jurnal dan penerbitan
Perhimpunan tidak formal ahli-ahli
Buku panduan belajar MICPA
Forum perniagaan
Syarahan kenangan dan jamuan
Pertandingan golf MICPA
Aktiviti yang dikelolakan
bersama pertubuhan lain:
Pertandingan NACRA
Ulasan belanjawan 2005
Seminar dianjurkan bersama
Forum “ International Education Standards”
2003
Bengkel peperiksaan
Minggu perakaunan
Pendidikan profesional berterusan
Kursus bimbingan
Majlis jamuan tahunan
Anugerah kecemerlangan MICPA
Jurnal dan penerbitan
Perhimpunan tidak formal ahli-ahli
Buku panduan belajar MICPA
Aktiviti yang dikelolakan
bersama pertubuhan lain:
Pertandingan NACRA
Ulasan belanjawan 2004
Pendapatan
RM
Belanja
RM
Lebihan/
(Defisit)
RM
266,900
305,214
10,350
63,470
11,090
8,689
10,875
123,537
225,500
33,680
49,858
189,721
153,866
2,400
75,535
23,290
5,612
8,341
136,256
64,473
50,435
50,515
77,179
151,348
7,950
(12,065)
(12,200)
3,077
2,534
(12,719)
161,027
(16,755)
(657)
1,109,163
760,444
348,719
–
102,200
3,730
–
5,147
–
–
2,854
1,215,093
768,445
446,648
Pendapatan
RM
Belanja
RM
Lebihan/
(Defisit)
RM
268,500
24,000
232,983
10,680
29,400
10,685
6,779
74,097
175,427
207,305
35,079
110,039
3,050
48,191
20,434
5,282
67,216
134,795
61,195
(11,079)
122,944
7,630
(18,791)
(9,749)
1,497
6,881
40,632
832,551
631,391
201,160
2,133
97,450
–
–
2,133
97,450
932,134
631,391
300,743
(5,147)
102,200
3,730
(2,854)
Belanja bagi aktiviti di atas merupakan belanja langsung yang dapat dikenalpasti sahaja dan tidak termasuk
belanja overhed.
Belanja untuk buku panduan belajar MICPA termasuk perlunasan kos pembangunan buku panduan belajar
berjumlah RM129,907 (2003 : RM110,396).
87
MICPA ANNUAL REPORT 2004
14.
PENDAPATAN LAIN
Sumbangan dari ahli
Pengiklanan di laman web MICPA
Faedah simpanan tetap
Denda diterima yang timbul dari tindakan disiplin
Jualan label pengiriman
Lain-lain
15.
2004
RM
2003
RM
69,575
500
7,201
1,080
1,950
135
30,000
500
9,265
9,409
501
511
80,441
50,186
2004
RM
2003
RM
4,205
4,830
6,300
40,543
1,986
27,752
93,935
22,436
9,068
5,623
145,086
23,448
7,710
4,482
96,000
6,756
79,259
82,133
155,661
8,382
18,812
3,901
5,235
6,600
45,528
2,352
46,803
123,003
23,408
5,689
5,433
123,624
9,740
23,767
3,600
96,000
9,590
64,553
95,737
136,260
7,245
–
172,680
1,046,788
5,941
51,223
21,957
162,073
994,544
2,060
95,865
18,329
2,142,996
2,110,939
BELANJA KENDALIAN
Belanja pengiklanan
Belanja mesyuarat agung tahunan dan mesyuarat Majlis
Ganjaran juruaudit
Hutang lapuk dihapuskira
Bayaran bank
Susut nilai
Belanja langsung peperiksaan
Elektrik dan air
Belanja am
Insurans
Jurnal dan pernyataan teknikal
Bayaran perundangan dan profesional
Penyelenggaraan
Belanja perubatan
Sewa pejabat
Majalah dan stok perpustakaan
Pos dan telefon
Percetakan dan alatulis
Belanja pembangunan profesional
Penerbitan bahan kursus pelajar
Semakan semula kelayakan MICPA
Kos pekerja
- Kumpulan Wang Simpanan Pekerja dan SOCSO
- Gaji dan bonus
Dana rekreasi pekerja
Yuran kepada badan perakaunan antarabangsa
Belanja perjalanan
Belanja langsung peperiksaan bagi tahun 2004 termasuk sejumlah RM2,243 yang dibayar kepada seorang
ahli Majlis sebagai bayaran perkhidmatan pemeriksa.
16.
KOS KEWANGAN
Faedah pinjaman berjangka
88
2004
RM
2003
RM
39,452
10,910
MICPA ANNUAL REPORT 2004
17.
BELANJA CUKAI
Bagi tujuan cukai, Institut ditaksirkan sebagai “Persatuan Dagangan” di bawah seksyen 53(3) Akta Cukai
Pendapatan, 1967. Oleh itu pendapatannya dikenakan cukai mengikut kadar skala.
2004
RM
Belanja cukai semasa
Kurangan peruntukan pada tahun terdahulu
2003
RM
91
153
–
–
244
–
Penyelarasan berangka antara kadar cukai efektif dan kadar cukai yang dikenakan bagi Institut adalah seperti
berikut:-
Kadar cukai dikenakan
Kesan cukai berkaitan dengan:
Pendapatan tidak dikena cukai
Penggunaan elaun modal belum diserap
Belanja tidak dibenar potongan
Pengurangan kadar cukai berkanun
2004
%
2003
%
28.00
28.00
(0.02)
(26.79)
0.01
(1.15)
–
(28.00)
–
–
0.05
–
Cukai pendapatan - tahun terdahulu
0.09
–
Kadar cukai efektif
0.14
–
Aset cukai tertunda tidak diiktiraf bagi butiran yang berikut:-
Kerugian cukai belum guna
Elaun modal belum diserap
2004
RM
2003
RM
166,784
9,080
168,967
49,123
175,864
218,090
Kerugian cukai belum guna dan elaun modal belum diserap boleh digunakan pada tempoh masa yang tidak
berbatas untuk mengimbang balas keuntungan bercukai Institut pada masa depan, tertakluk kepada
persetujuan Jabatan Hasil Dalam Negeri. Aset cukai tertunda tidak diiktiraf bagi butiran di atas oleh kerana
tidak berkemungkinan keuntungan bercukai pada masa depan akan berlaku terhadapnya perbezaan sementara
boleh diberikan potongan boleh dipakai.
89
MICPA ANNUAL REPORT 2004
18.
TUNAI DAN KESETARAAN TUNAI
Tunai dan kesetaraan tunai terdiri daripada tunai dalam tangan dan baki di bank dan simpanan tetap. Tunai
dan kesetaraan tunai termasuk dalam penyata aliran tunai terdiri daripada amaun kunci kira-kira yang
berikut:-
19.
2004
RM
2003
RM
Simpanan tetap
Tunai dan baki di bank
255,000
35,559
55,000
12,386
Tolak: Simpanan dengan bank berlesen di bawah lien (Nota 10)
290,559
(5,000)
67,386
(5,000)
285,559
62,386
INSTRUMEN KEWANGAN
Risiko Kredit
Pada 31 Disember 2004, Institut mempunyai penghutang punca yuran tahunan berjumlah RM184,228
yang belum diterima bagi tempoh melebihi 30 hari, baki bank dan simpanan sebanyak RM289,559 dengan
beberapa buah institusi perbankan berlesen utama di Malaysia. Selain daripada yang tersebut, Institut tidak
mempunyai tumpuan risiko kredit yang ketara. Pendedahan kepada risiko kredit maksimum adalah diwakili
oleh nilai buku aset kewangan dalam kunci kira-kira.
Nilai Saksama
Nilai buku instrumen kewangan Institut pada 31 Disember 2004 menghampiri nilai saksamanya oleh kerana
tempoh matang instrumen kewangan tersebut agak pendek.
20.
KEBENARAN UNTUK PENERBITAN PENYATA KEWANGAN
Penyata kewangan dibenarkan untuk penerbitan oleh Majlis pada 31 Mei 2005.
90
MICPA ANNUAL REPORT 2004
Penyata oleh Ahli-ahli Majlis
Menurut pendapat ahli-ahli Majlis, penyata kewangan pada mukasurat 77 hingga 90 telah disediakan mengikut
piawaian perakaunan yang diluluskan oleh MASB dan peruntukan Akta Syarikat, 1965 supaya memberi gambaran
yang benar dan saksama mengenai kedudukan Institut pada 31 Disember 2004 dan keputusannya serta aliran tunainya
bagi tahun kewangan berakhir pada tarikh tersebut.
Bagi pihak Ahli-ahli Majlis,
Dato’ Ab Halim Mohyiddin
Presiden
Dato’ Nordin Baharuddin
Naib Presiden
Kuala Lumpur
31 Mei 2005
Akuan Berkanun
Saya, Tan Shook Kheng, selaku pegawai yang terutama bertanggungjawab ke atas pengurusan kewangan Institut
Akauntan Awam Bertauliah Malaysia, dengan sesungguhnya dan tulus ikhlas mengaku bahawa penyata kewangan
yang dibentangkan pada mukasurat 77 hingga 90 adalah sebaik-baik pengetahuan dan kepercayaan saya adalah
betul, dan saya membuat pengakuan ini dengan penuh kepercayaan bahawa perkara-perkara tersebut adalah benar
serta menurut Akta Akuan Berkanun, 1960.
Ditandatangani dan diakui oleh penama di atas
TAN SHOOK KHENG
di Kuala Lumpur
pada 31 Mei 2005
Di hadapan saya :Lam Theng Sum
Pesuruhjaya Sumpah
Kuala Lumpur
91
MICPA ANNUAL REPORT 2004
Laporan Juruaudit Kepada Ahli-ahli
The Malaysian Institute of Certified Public Accountants
(Institut Akauntan Awam Bertauliah Malaysia)
Kami telah mengaudit penyata kewangan yang dibentangkan pada mukasurat 77 hingga 90.
Penyata kewangan tersebut adalah tanggungjawab Majlis.
Adalah menjadi tanggungjawab kami untuk membuat pendapat bebas kami ke atas penyata kewangan tersebut
berdasarkan audit kami dan untuk melaporkan pendapat kami kepada anda, sebagai suatu badan, menurut Seksyen
174, Akta Syarikat, 1965 dan bukan untuk tujuan-tujuan lain. Kami tidak menerima tanggungjawab terhadap manamana pihak lain tentang kandungan laporan ini.
Kami telah menjalankan audit kami mengikut piawaian pengauditan yang diluluskan di Malaysia. Piawaian tersebut
memerlukan kami merancang dan melaksanakan audit untuk mendapat keyakinan yang munasabah tentang sama ada
penyata kewangan tersebut bebas dari sebarang salahnyata yang ketara. Sesuatu audit merangkumi pemeriksaan,
berasaskan ujian, bukti yang menyokong jumlah dan pendedahan dalam penyata kewangan. Sesuatu audit juga termasuk
penaksiran prinsip-prinsip perakaunan yang digunakan dan anggaran-anggaran penting yang dibuat oleh Majlis, serta
penilaian pembentangan penyata kewangan secara keseluruhannya. Kami percaya bahawa audit kami memberikan
asas yang munasabah bagi pendapat kami.
Pada pendapat kami:
(a)
(b)
penyata kewangan telah disediakan dengan sewajarnya menurut piawaian perakaunan yang diluluskan oleh
MASB dan peruntukan Akta Syarikat, 1965 untuk memberi gambaran yang benar dan saksama mengenai:(i)
perkara-perkara yang dikehendaki oleh Seksyen 169 Akta Syarikat, 1965 untuk diambilkira dalam
penyata kewangan Institut; dan
(ii)
kedudukan kewangan Institut pada 31 Disember 2004 dan hasil urusan serta aliran tunainya bagi
tahun kewangan berakhir pada tarikh tersebut; dan
rekod-rekod perakaunan dan rekod-rekod lain serta daftar-daftar yang dikehendaki oleh Akta untuk disimpan
oleh Institut telah disimpan dengan sempurna menurut peruntukan-peruntukan Akta tersebut.
Tan Kim Leong, JP
235/06/05 (J/PH)
Akauntan Bertauliah
Siew Kah Toong
1045/03/06 (J)
Akauntan Bertauliah
Kuala Lumpur
31 Mei 2005
92
MACPA EDUCATIONAL TRUST FUND
MACPA Educational Trust Fund
Report & Financial Statements December 31, 2004
93
MACPA EDUCATIONAL TRUST FUND
94
TRUSTEES:
Datuk Abu Hassan Kendut
Larry Seow Thiam Fatt
Dato’ Hj. Megat Abdul Rahman Megat Ahmad
Dr. Nawawi Mat Awin
Subimal Sen Gupta
Dato’ Hj. Zainal Abidin Putih
AUDITORS:
Tan Kim Leong, JP
Siew Kah Toong
PRINCIPAL PLACE OF BUSINESS:
No. 15, Jalan Medan Tuanku
50300 Kuala Lumpur
MACPA EDUCATIONAL TRUST FUND
REPORT OF THE TRUSTEES
FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2004
The principal objects of the MACPA Educational Trust Fund (“Trust Fund”) are the promotion and advancement of
education and dissemination of knowledge in accountancy and related subjects.
In furtherance of its objects, the Trust Fund offers grants to assist academic staff of local universities in carrying out
research and study in accountancy and related disciplines.
With the aim to ensure that research activities are carried out on a well co-ordinated basis and in areas pertinent to
the accountancy profession and society, the Trust Fund has established a Research Board charged with the
responsibility to formulate the Trust Fund’s research objectives, to plan and monitor its research programme, and to
undertake publication of research findings.
To further promote education in accountancy, the Trust Fund awards scholarships for pursuing an accountancy
qualification. The scholarships are intended to provide financial assistance to those school leavers who possess
good academic record but who are financially handicapped to achieve a tertiary or professional qualification in
accountancy.
The Trustees of the Trust Fund have pleasure in submitting the financial statements of the Trust Fund for the
financial year ended December 31, 2004.
On behalf of the Trustees,
…………………………………………………….
Dato’ Hj. Megat Abdul Rahman Megat Ahmad
Trustee
…………………………………………………….
Datuk Abu Hassan Kendut
Trustee
Kuala Lumpur
June 10, 2005
95
MACPA EDUCATIONAL TRUST FUND
BALANCE SHEET
AS AT DECEMBER 31, 2004
2004
RM
2003
RM
6
1,765,168
1,790,477
7
8
43,466
8,160
38,427
1,798
43,466
–
37,293
4,980
91,851
85,739
2,100
3,450
2,100
3,450
89,751
82,289
1,854,919
1,872,766
Balance as at January 1
Net surplus for the financial year
1,661,412
65,112
1,603,814
57,598
Balance as at December 31
1,726,524
1,661,412
128,395
211,354
1,854,919
1,872,766
Note
Non-Current Assets
Property and equipment
Current Assets
Tax recoverable
Sundry receivables
Fixed deposit with a licensed bank
Bank balance
Current Liability
Accruals
Net Current Assets
Accumulated Funds
Advances from MICPA
96
9
The above Balance Sheet is to be read in conjunction with the notes to the financial statements on pages 100 to 103.
MACPA EDUCATIONAL TRUST FUND
INCOME STATEMENT
FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2004
2004
RM
2003
RM
96,000
70,358
1,135
96,000
150,451
1,134
167,493
247,585
Assessment and quit rent
Auditors’ remuneration
Depreciation
Insurance
Printing and stationery
Professional fee
Repairs and maintenance
16,153
2,100
31,759
599
245
2,622
2,350
16,153
2,700
38,798
599
308
2,668
65,480
Scholarships, research grants and expenses
55,828
46,553
126,706
60,684
(102,381)
(187,390)
65,112
60,195
–
(2,597)
65,112
57,598
Note
Income
Rental
Donations
Fixed deposit interest
Expenses
Surplus Before Tax
Tax Expense
Net Surplus for the Financial Year
7
The above Income Statement is to be read in conjunction with the notes to the financial statements on pages
100 to 103.
97
MACPA EDUCATIONAL TRUST FUND
STATEMENT OF RECOGNISED GAINS AND LOSSES
FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2004
Net surplus for the financial year
98
2004
RM
2003
RM
65,112
57,598
The above Statement of Recognised Gains and Losses is to be read in conjunction with the notes to the financial
statements on pages 100 to 103.
MACPA EDUCATIONAL TRUST FUND
CASH FLOW STATEMENT
FOR THE FINANCIAL YEAR ENDED DECEMBER 31, 2004
2004
RM
2003
RM
96,000
70,358
–
96,000
150,451
1,350
(33,579)
(46,553)
(87,308)
(60,684)
86,226
99,809
(6,450)
1,135
(132,944)
1,134
(5,315)
(131,810)
88,041
(171,000)
280,926
(263,746)
(82,959)
17,180
Net Decrease in Cash and Cash Equivalents
(2,048)
(14,821)
Cash and Cash Equivalents at Beginning of the Financial Year
42,273
57,094
40,225
42,273
Note
Cash Flows from Operating Activities
Cash receipts
Proceeds from rental
Donations
Advance - prize sponsorship for fund raising activity
Cash payments
Operating expenses
Scholarships, research grants and expenses
Net cash generated from operating activities
Cash Flows from Investing Activities
Additions to property and equipment
Fixed deposit interest received
Net cash used in investing activities
Cash Flows from Financing Activities
Advances from MICPA
Repayment of advances from MICPA
Net cash (used in)/generated from financing activities
Cash and Cash Equivalents at End of the Financial Year
10
The above Cash Flow Statement is to be read in conjunction with the notes to the financial statements on pages
100 to 103.
99
MACPA EDUCATIONAL TRUST FUND
NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2004
1.
GENERAL INFORMATION
The Trust Fund is a non-profit organisation, incorporated and domiciled in Malaysia.
The registered office and principal place of business of the Trust Fund is located at No. 15, Jalan Medan
Tuanku, 50300 Kuala Lumpur.
The financial statements are presented in Ringgit Malaysia.
2.
FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The main risk arising from the Trust Fund’s financial statements are liquidity risk and credit risk. The
Trustees review and agree policies for managing each of these risks and they are summarised below.
Liquidity Risk
The Trust Fund receives its funds from The Malaysian Institute of Certified Public Accountants (MICPA).
The funds are considered to be interest-free, unsecured and have no fixed terms of repayment. As such, the
financial stability of the Trust Fund is directly related to that of MICPA.
Credit Risk
Transactions with banking institutions may give rise to credit risk which require the loss to be recognised if
a counter party fails to perform as contracted. The counter party is a licensed banking institution. It is the
policy of the Trust Fund to monitor the financial standing of this counter party on a going concern basis to
ensure that the Trust Fund is exposed to minimal credit risk.
3.
PRINCIPAL OBJECTS
The principal objects of the MACPA Educational Trust Fund (“Trust Fund”) are the promotion and
advancement of education and dissemination of knowledge in accountancy and related subjects.
4.
BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention except as disclosed in the
significant accounting policies. The financial statements comply with MASB approved accounting
standards.
The preparation of financial statements in conformity with MASB approved accounting standards requires
that the Trustees make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period. Actual results could differ from those
estimates.
5.
SIGNIFICANT ACCOUNTING POLICIES
(a)
(b)
Income Recognition
(i)
Rental income is recognised on an accrual basis.
(ii)
Donations are recognised when received.
(iii)
Interest income is recognised on the effective yield basis.
Property and Equipment and Depreciation
Property and equipment are stated at cost less accumulated depreciation and impairment losses, if
any.
100
The acquisition cost of freehold land and building was apportioned based on a professional valuer’s
report for purposes of calculating the depreciable amount of the building.
MACPA EDUCATIONAL TRUST FUND
5.
SIGNIFICANT ACCOUNTING POLICIES (continued)
Freehold land is not depreciated. For other property and equipment, depreciation is calculated to
write off the cost of the property and equipment on the straight line basis over the expected useful
lives of the assets concerned. The annual depreciation rates used are as follows:Building
Fixtures and fittings
Renovation
2%
20%
10%
Property and equipment which are fully depreciated are shown at a nominal value of RM1.00.
The carrying amounts of property and equipment are reviewed at each balance sheet date to
determine whether there is any indication of impairment. If any such indication exists, the
recoverable amounts are estimated. The impairment loss is charged to the income statement as soon
as foreseeable. Conversely, the impairment loss will be reversed up to the cumulative amount
previously charged to the income statement, once the indicator for impairment ceases to exist.
(c)
Provisions
Provisions are recognised when there is a present obligation, legal or constructive, as a result of a
past event, when it is probable that an outflow of resources embodying economic benefits will be
required to settle the obligation and a reliable estimate can be made of the amount of the obligation.
(d)
Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand, bank balances and short term, highly liquid
investments that are readily convertible to cash and which are subject to an insignificant risk of
changes in value.
(e)
Financial Instruments
The accounting policies for financial instruments are disclosed in the individual policies associated
with each item.
6.
PROPERTY AND EQUIPMENT
2004
Freehold
land
RM
Building
RM
Fixtures
and
fittings
RM
Renovation
RM
Total
RM
Cost
As at January 1
Additions
Reclassification
1,134,000
–
–
824,348
–
41,436
164,711
6,450
–
41,436 2,164,495
–
6,450
(41,436)
–
As at December 31
1,134,000
865,784
171,161
As at January 1
Charge for the financial year
Reclassification
–
–
–
252,639
17,316
4,144
117,235
14,443
–
As at December 31
–
274,099
131,678
–
405,777
1,134,000
591,685
39,483
–
1,765,168
–
2,170,945
Accumulated depreciation
4,144
–
(4,144)
374,018
31,759
–
Net book value
As at December 31
101
MACPA EDUCATIONAL TRUST FUND
6.
PROPERTY AND EQUIPMENT (continued)
2003
Freehold
land
RM
Building
RM
Fixtures
and
fittings
RM
Renovation
RM
Total
RM
Cost
As at January 1
Addition
1,134,000
–
697,079
127,269
107,505
57,206
28,771
12,665
1,967,355
197,140
As at December 31
1,134,000
824,348
164,711
41,436
2,164,495
As at January 1
Charge for the financial year
–
–
236,152
16,487
99,068
18,167
–
4,144
335,220
38,798
As at December 31
–
252,639
117,235
4,144
374,018
1,134,000
571,709
47,476
37,292
1,790,477
Accumulated depreciation
Net book value
As at December 31
A lienholder’s caveat has been executed over the freehold land and building in favour of a licensed bank
for a term loan amounting to RM600,000 to MICPA to finance the production of study manuals, of which
RM 525,965 has been drawn down as at the balance sheet date.
7.
TAX EXPENSE/TAX RECOVERABLE
Underprovision of tax in prior years
2004
RM
2003
RM
–
2,597
The income of the Trust Fund for the years 2001 to 2004 is tax exempt under paragraph 13, Schedule 6 to
the Income Tax Act, 1967.
The tax authorities has accepted the appeal for exemption of tax on the income for the years of assessment
1994 to 2000 of the Trust Fund. The tax recoverable which is the over-payment of tax amounting to RM43,466
in previous years will be refunded.
8.
SUNDRY RECEIVABLES
Sundry receivables include study loans provided to students for pursuing the MICPA qualification. The
study loans are interest free and are repayable over a period of 15 months.
9.
ADVANCES FROM MICPA
The amount represents advances from The Malaysian Institute of Certified Public Accountants (“MICPA”)
which are unsecured, interest-free and have no fixed terms of repayment.
102
MACPA EDUCATIONAL TRUST FUND
10.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise the following balance sheet amounts:-
Bank balance
Fixed deposit with a licensed bank
2004
RM
2003
RM
1,798
38,427
4,980
37,293
40,225
42,273
The weighted average interest rate during the financial year for fixed deposit with a licensed bank is 3%
(2003 : 3%) per annum.
The fixed deposit has a maturity of 90 days (2003 : 90 days).
11.
FINANCIAL INSTRUMENTS
Credit Risk
As at December 31, 2004, the Trust Fund has bank balance and fixed deposit of RM40,225 with a major
licensed banking institution in Malaysia. The Trust Fund has no significant concentration of credit risk. The
maximum exposures to credit risk are represented by the carrying amounts of the financial assets in the
balance sheet.
Fair Values
The carrying amounts of the financial instruments of the Trust Fund as at December 31, 2004 approximate
their fair values due to the relatively short term maturity of these financial instruments.
12.
AUTHORISATION FOR ISSUE OF FINANCIAL STATEMENTS
These financial statements were authorised for issue by the Trustees on June 10, 2005.
103
MACPA EDUCATIONAL TRUST FUND
STATEMENT BY TRUSTEES
In the opinion of the Trustees, the financial statements set out on pages 96 to 103 have been drawn up in accordance
with MASB approved accounting standards so as to give a true and fair view of the state of affairs of the MACPA
Educational Trust Fund as at December 31, 2004 and of its results and cash flows for the financial year then ended.
On behalf of the Trustees,
……………………………………………………
Dato’ Hj. Megat Abdul Rahman Megat Ahmad
Trustee
………………………………….……
Datuk Abu Hassan Kendut
Trustee
Kuala Lumpur
June 10, 2005
STATUTORY DECLARATION
I, Tan Shook Kheng, being the person primarily responsible for the financial management of the MACPA
Educational Trust Fund, do solemnly and sincerely declare that the financial statements set out on pages 96 to 103
are, to the best of my knowledge and belief, correct and I make this solemn declaration conscientiously believing
the same to be true and by virtue of the provisions of the Statutory Declarations Act, 1960.
Subscribed and solemnly declared by the abovenamed
Tan Shook Kheng
at Kuala Lumpur this
10th day of June, 2005
Before me:Lam Theng Sum
Commissioner for Oaths
Kuala Lumpur
104
)
)
)
)
MACPA EDUCATIONAL TRUST FUND
REPORT OF THE AUDITORS
TO THE TRUSTEES OF MACPA EDUCATIONAL TRUST FUND
We have audited the financial statements as set out on pages 96 to 103.
These financial statements are the responsibility of the Trustees.
It is our responsibility to form an independent opinion, based on our audit, on the financial statements and to report
our opinion to you, as a body, and for no other purpose. We do not assume responsibility towards any other person
for the content of this report.
We conducted our audit in accordance with approved standards on auditing in Malaysia. These standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by the Trustees, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion:(a)
the financial statements have been properly drawn up in accordance with MASB approved accounting
standards so as to give a true and fair view of the financial position of the MACPA Educational Trust Fund
as at December 31, 2004 and of its results and cash flows for the financial year then ended; and
(b)
the accounting and other records of the MACPA Educational Trust Fund examined by us have been properly
kept.
Tan Kim Leong, JP
235/06/05 (J/PH)
Chartered Accountant
Siew Kah Toong
1045/03/06 (J)
Chartered Accountant
Kuala Lumpur
June 10, 2005
105
TABUNG AMANAH PENDIDIKAN MACPA
LAPORAN PEMEGANG-PEMEGANG AMANAH
BAGI TAHUN BERAKHIR 31 DISEMBER 2004
Matlamat utama Tabung Amanah Pendidikan MACPA (TAP) adalah penggalakan dan kemajuan pendidikan serta
penyebaran pengetahuan perakaunan dan bidang-bidang lain yang berkaitan.
Untuk mencapai matlamat tersebut, TAP menawarkan bantuan kewangan kepada kakitangan akademik universitiuniversiti tempatan untuk menjalankan penyelidikan dan kajian dalam bidang perakaunan dan disiplin-disiplin
yang berkaitan.
Dengan tujuan untuk mempastikan bahawa kegiatan penyelidikan dijalankan pada asas yang lebih berkordinasi
dan dalam bidang yang berhubung dengan profesion perakaunan dan masyarakat, TAP telah melantik suatu Lembaga
Penyelidikan. Tanggungjawab Lembaga tersebut adalah merumus objektif penyelidikan TAP, merancang dan
mengawasi program penyelidikan, dan menerbitkan hasil penyelidikan.
Untuk menggalakkan lagi pendidikan dalam bidang perakaunan, TAP menghadiahkan biasiswa dan pinjaman
pelajaran untuk mencapai kelayakan perakaunan. Tujuannya adalah untuk memberi bantuan kewangan kepada
lepasan sekolah yang mempunyai prestasi akademik yang baik tetapi menghadapi rintangan kewangan untuk
mencapai kelayakan lanjutan atau profesional dalam bidang perakaunan.
Pemegang-pemegang Amanah dengan sukacitanya mengemukakan penyata kewangan TAP bagi tahun kewangan
berakhir 31 Disember 2004.
Bagi pihak Pemegang-Pemegang Amanah,
…………………………………………………….
Dato’ Hj. Megat Abdul Rahman Megat Ahmad
Pemegang Amanah
…………………………………………………….
Datuk Abu Hassan Kendut
Pemegang Amanah
Kuala Lumpur
10 Jun 2005
106
TABUNG AMANAH PENDIDIKAN MACPA
KUNCI KIRA-KIRA
PADA 31 DISEMBER 2004
2004
RM
2003
RM
6
1,765,168
1,790,477
7
8
43,466
8,160
38,427
1,798
43,466
–
37,293
4,980
91,851
85,739
2,100
3,450
2,100
3,450
89,751
82,289
1,854,919
1,872,766
Baki pada 1 Januari
Lebihan bersih bagi tahun kewangan
1,661,412
65,112
1,603,814
57,598
Baki pada 31 Disember
1,726,524
1,661,412
128,395
211,354
1,854,919
1,872,766
Nota
Aset Bukan Semasa
Hartanah dan peralatan
Aset Semasa
Cukai yang boleh didapatkan kembali
Pelbagai penghutang
Simpanan tetap dengan bank berlesen
Baki di bank
Liabiliti Semasa
Akruan
Aset Semasa Bersih
Dana Terkumpul
Pendahuluan daripada MICPA
9
Kunci Kira-kira di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat
111 hingga 114.
107
TABUNG AMANAH PENDIDIKAN MACPA
PENYATA PENDAPATAN
BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2004
2004
RM
2003
RM
96,000
70,358
1,135
96,000
150,451
1,134
167,493
247,585
Taksiran dan cukai tanah
Ganjaran juruaudit
Susut nilai
Insurans
Percetakan dan alat tulis
Bayaran profesional
Pembaikan dan penyelenggaraan
16,153
2,100
31,759
599
245
2,622
2,350
16,153
2,700
38,798
599
308
2,668
65,480
Biasiswa, bantuan dan belanja penyelidikan
55,828
46,553
126,706
60,684
(102,381)
(187,390)
65,112
60,195
–
(2,597)
65,112
57,598
Nota
Pendapatan
Sewa
Derma
Faedah dan simpanan tetap
Belanja
Lebihan Sebelum Cukai
Belanja Cukai
Lebihan Bersih bagi Tahun Kewangan
108
7
Penyata Pendapatan di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat
111 hingga 114.
TABUNG AMANAH PENDIDIKAN MACPA
PENYATA KEUNTUNGAN DAN KERUGIAN YANG DIIKTIRAF
BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2004
Lebihan bersih bagi tahun kewangan
2004
RM
2003
RM
65,112
57,598
Penyata Keuntungan dan Kerugian yang Diiktiraf di atas hendaklah dibaca dengan nota kepada penyata kewangan
di mukasurat111 hingga 114.
109
TABUNG AMANAH PENDIDIKAN MACPA
PENYATA ALIRAN TUNAI
BAGI TAHUN KEWANGAN BERAKHIR 31 DISEMBER 2004
2004
RM
2003
RM
96,000
70,358
–
96,000
150,451
1,350
(33,579)
(46,553)
(87,308)
(60,684)
86,226
99,809
Tambahan kepada hartanah dan peralatan
Faedah simpanan tetap diterima
(6,450)
1,135
(132,944)
1,134
Tunai bersih diguna dalam aktiviti pelaburan
(5,315)
(131,810)
88,041
(171,000)
280,926
(263,746)
(82,959)
17,180
Kurangan Bersih dalam Tunai dan Kesetaraan Tunai
(2,048)
(14,821)
Tunai dan Kesetaraan Tunai pada Awal Tahun Kewangan
42,273
57,094
40,225
42,273
Nota
Aliran Tunai daripada Aktiviti Kendalian
Penerimaan tunai
Hasil daripada sewa
Derma
Pendahuluan-tajaan hadiah untuk aktiviti penubuhan dana
Bayaran tunai
Belanja kendalian
Biasiswa, bantuan dan belanja kendalian
Tunai bersih daripada aktiviti kendalian
Aliran Tunai daripada Aktiviti Pelaburan
Aliran Tunai daripada Aktiviti Pembiayaan
Pendahuluan daripada MICPA
Pembayaran balik pendahuluan daripada MICPA
Tunai bersih (diguna dalam)/daripada aktiviti pembiayaan
Tunai dan Kesetaraan Tunai pada Akhir Tahun Kewangan
110
10
Penyata Aliran Tunai di atas hendaklah dibaca bersama dengan nota kepada penyata kewangan di mukasurat
111 hingga 114.
TABUNG AMANAH PENDIDIKAN MACPA
NOTA KEPADA PENYATA KEWANGAN
31 DISEMBER 2004
1.
MAKLUMAT AM
Tabung Amanah Pendidikan adalah sebuah organisasi tidak bertujuan mendatangkan keuntungan yang
diperbadankan dan berdomisil di Malaysia.
Pejabat berdaftar dan tempat utama perniagaan Tabung Amanah terletak di No. 15, Jalan Medan Tuanku,
50300 Kuala Lumpur.
Penyata kewangan Tabung Amanah telah dibentangkan dalam Ringgit Malaysia.
2.
DASAR DAN OBJEKTIF PENGURUSAN RISIKO KEWANGAN
Risiko utama yang timbul dari penyata kewangan Tabung Amanah ialah risiko mudah tunai dan risiko
kredit. Pemegang Amanah menyemak semula dan mempersetujukan dasar untuk pengurusan tiap-tiap risiko
tersebut yang diringkaskan seperti berikut:
Risiko Mudah Tunai
Tabung Amanah menerima tabung daripada The Malaysian Institute of Certified Public Accountants (MICPA).
Tabung tersebut dianggap tanpa faedah, tidak bercagar dan tidak mempunyai syarat pembayaran balik yang
tetap. Oleh yang demikian, kestabilan kewangan Tabung Amanah berkait langsung dengan kestabilan
kewangan MICPA.
Risiko Kredit
Urus niaga dengan bank mungkin menimbulkan risiko kredit yang memerlukan kerugian diiktirafkan sekiranya
pihak peniaga balas gagal melaksanakan urusan mengikut kontrak. Pihak peniaga balas adalah sebuah institusi
perbankan berlesen. Adalah menjadi dasar Tabung Amanah untuk memantau kedudukan kewangan pihak
peniaga balas secara berterusan untuk memastikan bahawa pendedahan Tabung Amanah terhadap risiko
kredit adalah minimum.
3.
MATLAMAT UTAMA
Matlamat utama Tabung Amanah Pendidikan MACPA (TAP) adalah penggalakan dan kemajuan pendidikan
serta penyebaran pengetahuan perakaunan dan bidang-bidang lain yang berkaitan.
4.
ASAS PENYEDIAAN PENYATA KEWANGAN
Penyata kewangan telah disediakan berasaskan konvensyen kos sejarah kecuali sepertimana yang
dinyatakan sebaliknya dalam dasar perakaunan penting. Penyata kewangan mematuhi piawaian perakaunan
yang diluluskan oleh MASB.
Penyediaan penyata kewangan menurut piawaian perakaunan yang diluluskan oleh MASB memerlukan
Pemegang Amanah membuat anggaran dan andaian yang memberi kesan ke atas jumlah aset dan liabiliti
dilaporkan serta pendedahan aset dan liabiliti luar jangka pada tarikh penyata kewangan dan jumlah pendapatan
dan belanja dilaporkan dalam tempoh pelaporan. Keputusan sebenar boleh berlainan daripada anggaran.
111
TABUNG AMANAH PENDIDIKAN MACPA
5.
DASAR-DASAR PERAKAUNAN YANG PENTING
(a)
(b)
Pengiktirafan Pendapatan
(i)
Pendapatan sewa diiktiraf pada asas akruan.
(ii)
Derma diiktiraf apabila diterima.
(iii)
Pendapatan faedah diiktiraf berasaskan kadar hasil yang efektif.
Hartanah dan Peralatan dan Susut Nilai
Hartanah dan peralatan dicatat pada kos tolak susut nilai terkumpul dan kerugian kemerosotan nilai
terkumpul, jika ada.
Kos perolehan tanah milik bebas dan bangunan telah dibahagikan berdasarkan laporan penilai
profesional bagi tujuan mengira nilai bangunan yang boleh disusutnilaikan.
Tanah milik bebas tidak disusutnilaikan. Bagi hartanah dan peralatan lain, susut nilai telah dikira
supaya menghapuskirakan kos harta dan peralatan mengikut asas garis lurus ke atas hayat berguna
yang dijangkakan bagi aset berkenaan. Kadar susut nilai tahunan ialah:Bangunan
Lekapan dan lengkapan
Pembaikan
2%
20%
10%
Hartanah dan peralatan yang telah disusut nilai sepenuhnya dicatat pada nilai nominal RM1.00.
Nilai buku hartanah dan peralatan disemak semula pada setiap tarikh kunci kira-kira untuk menentukan
sama ada berwujud tanda-tanda kemerosotan nilai. Sekiranya tanda-tanda tersebut wujud, jumlah
yang boleh didapati kembali dianggarkan. Kerugian kemerosotan nilai diiktiraf dalam penyata
pendapatan sebaik sahaja didapati akan berlaku pada masa hadapan berjangka. Sebaliknya, kerugian
kemerosotan nilai diambilkira balik hingga jumlah terkumpul yang diiktiraf dalam penyata pendapatan
sebelum ini, pada ketika tanda kemerosotan nilai tidak wujud lagi.
(c)
Peruntukan
Peruntukan adalah diiktiraf apabila terdapat obligasi semasa, sama ada sah di sisi undang-undang
atau konstruktif, yang diakibatkan oleh peristiwa lepas, apabila terdapatnya kemungkinan bahawa
aliran keluar sumber melibatkan manfaat ekonomi akan diperlukan untuk menyelesaikan obligasi
tersebut dan anggaran yang boleh dipercayai dapat dibuat bagi amaun obligasi.
(d)
Tunai dan Kesetaraan Tunai
Tunai dan kesetaraan tunai terdiri daripada tunai dalam tangan, baki bank dan pelaburan jangka
pendek yang amat mudah cair yang boleh ditukar dengan mudah kepada tunai dan tertakluk kepada
risiko perubahan nilai yang tidak ketara.
(e)
Instrumen Kewangan
Dasar perakaunan untuk instrumen kewangan adalah dinyatakan dalam dasar individu yang berkaitan
dengan tiap-tiap instrumen.
112
TABUNG AMANAH PENDIDIKAN MACPA
6.
HARTANAH DAN PERALATAN
Lekapan
dan
lengkapan Pembaikan
RM
RM
Tanah
milik bebas
RM
Bangunan
RM
Pada 1 Januari
Tambahan
Pengelasan semula
1,134,000
–
–
824,348
–
41,436
164,711
6,450
–
Pada 31 Disember
1,134,000
865,784
171,161
Pada 1 Januari
Susut nilai bagi tahun kewangan
Pengelasan semula
–
–
–
252,639
17,316
4,144
117,235
14,443
–
Pada 31 Disember
–
274,099
131,678
–
405,777
1,134,000
591,685
39,483
–
1,765,168
2004
Jumlah
RM
Kos
41,436 2,164,495
–
6,450
(41,436)
–
–
2,170,945
Susut nilai terkumpul
4,144
–
(4,144)
374,018
31,759
–
Nilai buku bersih
Pada 31 Disember
Lekapan
dan
lengkapan Pembaikan
RM
RM
Tanah
milik bebas
RM
Bangunan
RM
Pada 1 Januari
Tambahan
1,134,000
–
697,079
127,269
107,505
57,206
28,771
12,665
1,967,355
197,140
Pada 31 Disember
1,134,000
824,348
164,711
41,436
2,164,495
Pada 1 Januari
Susut nilai bagi tahun kewangan
–
–
236,152
16,487
99,068
18,167
–
4,144
335,220
38,798
Pada 31 Disember
–
252,639
117,235
4,144
374,018
1,134,000
571,709
47,476
37,292
1,790,477
2003
Jumlah
RM
Kos
Susut nilai terkumpul
Nilai buku bersih
Pada 31 Disember
“Lienholder’s caveat” telah dikuatkuasakan ke atas tanah milik bebas dan bangunan atas nama sebuah bank
berlesen untuk memberikan pinjaman berjangka berjumlah RM600,000 kepada MICPA bagi tujuan membiayai
kos pembangunan buku panduan belajar yang mana sebanyak RM525,965 telah dikeluar-guna pada tarikh
kunci kira-kira.
113
TABUNG AMANAH PENDIDIKAN MACPA
7.
BELANJA CUKAI / CUKAI YANG DAPAT DIPEROLEHI SEMULA
Kekurangan peruntukan cukai bagi tahun sebelumnya
2004
RM
2003
RM
–
2,597
Pendapatan Tabung Amanah untuk tahun 2001 hingga 2004 dikecualikan cukai menurut perenggan 13,
Jadual 6, Akta Cukai Pendapatan, 1967.
Pihak berkuasa cukai telah meluluskan rayuan untuk pengecualian cukai ke atas pendapatan Tabung Amanah
bagi tahun taksiran 1994 hingga 2000. Cukai yang dapat diperolehi semula akibat bayaran cukai terlebih
bagi tahun-tahun sebelumnya berjumlah RM43,466 akan dikembalikan
8.
PELBAGAI PENGHUTANG
Pelbagai penghutang termasuk pinjaman pelajaran yang ditawarkan kepada pelajar-pelajar untuk mengikuti
kursus MICPA. Pinjaman pelajaran tersebut adalah tanpa faedah dan perlu dibayar balik dalam tempoh
15 bulan.
9.
PENDAHULUAN DARIPADA MICPA
Amaun ini merupakan pendahuluan daripada The Malaysian Institute of Certified Public Accountants
(MICPA) yang tidak bercagar, tanpa faedah dan tidak mempunyai syarat pembayaran balik yang tetap.
10.
TUNAI DAN KESETARAAN TUNAI
Tunai dan kesetaraan tunai terdiri daripada amaun kunci kira-kira yang berikut:-
Baki di bank
Simpanan tetap dengan bank berlesen
2004
RM
2003
RM
1,798
38,427
4,980
37,293
40,225
42,273
Kadar faedah purata berwajaran pada tahun kewangan untuk simpanan tetap dengan sebuah bank berlesen
ialah 3% (2003: 3%) setahun.
Tempoh matang simpanan tetap ialah 90 hari (2003: 90 hari).
11.
INSTRUMEN KEWANGAN
Risiko Kredit
Pada 31 Disember 2004, Tabung Amanah mempunyai baki bank dan simpanan sebanyak RM40,225 dengan
sebuah institusi perbankan berlesen utama di Malaysia. Tabung Amanah tidak mempunyai tumpuan risiko
kredit yang ketara. Pendedahan kepada risiko kredit maksimum adalah diwakili oleh nilai buku aset kewangan
dalam kunci kira-kira.
Nilai Saksama
Nilai buku instrumen kewangan Tabung Amanah pada 31 Disember 2004 menghampiri nilai saksamanya
oleh kerana tempoh matang instrumen kewangan agak pendek.
12.
KEBENARAN UNTUK PENERBITAN PENYATA KEWANGAN
Penyata kewangan dibenarkan untuk penerbitan oleh Pemegang Amanah pada 10 Jun 2005.
114
TABUNG AMANAH PENDIDIKAN MACPA
PENYATA OLEH PEMEGANG-PEMEGANG AMANAH
Menurut pendapat Pemegang-pemegang Amanah, penyata kewangan yang dibentangkan pada mukasurat 107 hingga
114 telah disediakan menurut piawaian perakaunan yang diluluskan oleh MASB supaya memberi gambaran yang
benar dan saksama mengenai kedudukan Tabung Amanah Pendidikan MACPA pada 31 Disember 2004 dan
keputusannya serta aliran tunainya bagi tahun kewangan berakhir pada tarikh tersebut.
Bagi pihak Pemegang-pemegang Amanah,
………………………………….…………………
Dato’ Hj. Megat Abdul Rahman Megat Ahmad
Pemegang Amanah
………………………………….…………………
Datuk Abu Hassan Kendut
Pemegang Amanah
Kuala Lumpur
10 Jun 2005
AKUAN BERKANUN
Saya, Tan Shook Kheng, selaku pegawai yang terutama bertanggungjawab ke atas pengurusan kewangan Tabung
Amanah Pendidikan MACPA, dengan sesungguhnya dan dengan tulus ikhlas mengaku bahawa penyata kewangan
yang dibentangkan pada mukasurat 107 hingga 114 sebaik-baik pengetahuan dan kepercayaan saya adalah betul,
dan saya membuat pengakuan ini dengan penuh kepercayaan bahawa perkara-perkara tersebut adalah benar serta
menurut peruntukan Akta Akuan Berkanun, 1960.
Ditandatangani dan diakui oleh penama di atas
TAN SHOOK KHENG
di Kuala Lumpur
pada 10 Jun 2005
)
)
)
)
Di hadapan saya:Lam Theng Sum
Pesuruhjaya Sumpah
Kuala Lumpur
115
TABUNG AMANAH PENDIDIKAN MACPA
LAPORAN JURUAUDIT KEPADA
PEMEGANG-PEMEGANG TABUNG AMANAH PENDIDIKAN
Kami telah mengaudit penyata kewangan yang dibentangkan pada mukasurat 107 hingga 114.
Penyata kewangan tersebut adalah tanggungjawab Pemegang-pemegang Amanah.
Adalah menjadi tanggungjawab kami untuk membuat pendapat bebas kami ke atas penyata kewangan tersebut
berdasarkan audit kami dan untuk melaporkan pendapat kami kepada anda, sebagai suatu badan, dan bukan untuk
tujuan-tujuan lain. Kami tidak menerima tanggungjawab terhadap mana-mana pihak lain tentang kandungan laporan
ini.
Kami telah menjalankan audit kami mengikut piawaian pengauditan yang diluluskan di Malaysia. Piawaian tersebut
memerlukan kami merancang dan melaksanakan audit untuk mendapat keyakinan yang munasabah tentang sama
ada penyata kewangan tersebut bebas dari sebarang salahnyata yang ketara. Sesuatu audit merangkumi pemeriksaan,
berasaskan ujian, bukti yang menyokong jumlah dan pendedahan dalam penyata kewangan. Sesuatu audit juga
termasuk penaksiran prinsip-prinsip perakaunan yang digunakan dan anggaran-anggaran penting yang dibuat oleh
Pemegang-pemegang Amanah, serta penilaian pembentangan penyata kewangan secara keseluruhannya. Kami
percaya bahawa audit kami memberikan asas yang munasabah bagi pendapat kami.
Pada pendapat kami:
(a)
penyata kewangan telah disediakan dengan sewajarnya menurut piawaian perakaunan yang diluluskan oleh
MASB untuk memberi gambaran yang benar dan saksama mengenai kedudukan kewangan Tabung Amanah
Pendidikan MACPA pada 31 Disember 2004 dan hasil urusan serta aliran tunainya bagi tahun kewangan
berakhir pada tarikh tersebut; dan
(b)
rekod-rekod perakaunan dan rekod-rekod lain Tabung Amanah Pendidikan MACPA yang diperiksa oleh
kami telah disimpan dengan sempurna.
Tan Kim Leong, JP
235/06/05 (J/PH)
Akauntan Bertauliah
Siew Kah Toong
1045/03/06 (J)
Akauntan Bertauliah
Kuala Lumpur
10 Jun 2005
116
The Malaysian Institute of Certified Public Accountants
(Institut Akauntan Awam Bertauliah Malaysia) (3246-U)
(Company Incorporated in Malaysia Limited by Guarantee)
Form of Proxy
I, ______________________________________________________________________________
(Full Name in Block Capitals)
of ______________________________________________________________________________
being a member of the abovenamed Institute hereby appoint
1. ______________________________________________________________________________
(Full Name)
___________________________________________________________________________ or
(Address)
2. ______________________________________________________________________________
(Full Name)
_____________________________________________________________________________
(Address)
as my proxy to attend on my behalf the Annual General Meeting of the Institute
to be held at Bilik Seraya, Level 4, The Pan Pacific Hotel, Jalan Putra, Kuala Lumpur,
on June 25, 2005 at 10:00 a.m. and at any adjournment thereof.
Signature _______________________________________________________________________
Dated this _________________________ day of _____________________ , 20 ____________
✂
Note:
A member entitled to attend and vote at this meeting is entitled to appoint a proxy
to attend and vote in his stead. A proxy must be a member of the Institute. The
instrument appointing the proxy must be deposited at the office of the Institute at
No. 15, Jalan Medan Tuanku, 50300 Kuala Lumpur not less than 48 hours before the
time set for holding the meeting.
117