Index for Audit Working Paper / Audit File

Section Area

A Correspondence
10 Income Statement, Balance Sheet
50 Issues
55 Adjustments
Summary of unadjusted difference
Reclassification
900 Audit plan
3000 Cash and bank
3100 Investment - short term
3200 Trade receivables
3470 Inventories
3480 Property development
3500 Other receivables, deposit, prepayments
3600 Inter company balances
3700 Investment in subsidiaries, asssociates etc; long term
3800 Property, plant and equipement
4000 Trade payable
4100 Other payables, accruals
4500 Income tax and deferred tax
4700 Borrowings
4800 Retirement benefits
4900 Contingencies and other commitments
5000 Capital and other equity accounts
5200 Statutory registers
6900 Income Statement
7000 Management accounts
7200 Consolidation
8000 Minutes
8050 Going concerns
8500 Related party transactions
8600 Subsequent events
8700 Letter of representation
8900 Audit completion
Real Max Sdn Bhd
Statement of Comprehensive Income for Year Ended 31st May 2019

2019 2018
RM RM

Revenue 31,484,292 37,505,861

Production Cost (28,240,597) (32,340,068)

Gross Profit 3,243,695 10.30% 5,165,793 13.77%

Other Operating Income 405,624 179,240

3,649,319 5,345,033

Less:
Administrative Expenses (1,947,417) (2,473,900)

Finance Cost (177,914) (243,277)

Profit Before Tax 1,523,988 4.84% 2,627,856 7.01%

Taxation - (588,000)

Profit After Taxation 1,523,988 4.84% 2,039,856 5.44%

Retained Earnings B/F 6,440,710 4,400,854

Dividend - -

Retained Earnings C/F 7,964,698 6,440,710

Real Max Sdn Bhd
Detail of Statement of Comprehensive Income for Year Ended 31st May 2019

Cost of Sales (Manufacturing cost)

2010 2009
RM RM
Direct Material
3/4 Aggregates 3,623,664 4,695,559
Cement OPC 14,589,835 16,214,691
Cement admixture 560,231 648,774
Sand 2,456,959 3,041,478
21,230,689 24,600,502

Direct Labour
Allowance & bonus 233,480 390,741
Angpau 20,400 -
EPF & SOCSO 133,826 126,846
Medical - -
Overtime, Salaries & wages 977,245 910,808
Staff amenities 26,230 28,836
1,391,181 1,457,231

Truck Mixers Expenses

Diesel 1,424,960 1,777,354
Depreciation of truck mixer 341,417 349,480
Fine 12,818 4,900
Sub-con: drivers 636,735 746,943
Sub-con: Mechanic 219,650 224,025
Insurance 98,122 115,973
Inspection fees 7,614 11,160
Lubricant 213,382 215,538
Road tax 145,570 172,335
Upkeep of truck mixers 1,209,218 1,195,955
4,309,486 4,813,663

Plant Overhead
Upkeep of batching plant 136,926 249,213
Upkeep of machineries 250,126 257,019
Upkeep of equipment 5,984 6,823
Upkeep of factory 7,826 9,034
Upkeep of lorry 28,178 25,129
Upkeep of motor vehicle 30,206 18,897
Other upkeep - -
Site upkeep 12,061 18,238
Depreciation of plant 415,006 419,672
Diesel 1,407 -
Sub con wages - -
Sundry wages 5,045 2,465
Sundry expenses 2,019 1,431
Electricity & water 107,233 107,956
Rental - site 87,500 94,400
Insurance machineries 15,444 17,359
Hiring of machineries 39,297 73,966
Hiring of crane - -
Hiring of lorry - 11,888
Telephone charges 32,004 49,507
Fuel - 7,083
Tools & safety products 7,421 6,528
Testing expenses 28,357 4,003
Fines - -
Insurance - others 22,513 26,619
Motor vehicle running expenses 41,786 33,901
MPV 3/4" aggregate - -
Medical fees 7,851 5,183
Printing & stationery 6,559 5,263
Road tax - others 10,143 9,900
Safety equipment 8,349 7,195
Others - -
1,309,241 - 1,468,672

Total Cost Of Goods Solds 28,240,597 32,340,068

Real Max Sdn Bhd
Detail of Statement of Comprehensive Income for Year Ended 31st May 2019

Administrative Expenses
2019 2018
RM RM

Advertisement 9,413 1,850

Ang pow 3,380 1,070
Audit fees - 8,500
Allowance 57,540 143,941
Allowance for doubtful debt 236,385 1,484,800
Sundry wages 4,419 -
Bad debts written off 525,770 -
Bank charges 8,149 12,500
Bonus 27,770 24,870
Consultant fees 53,200 55,200
Computer maintenance 455 3,513
Depreciation 69,731 65,263
Directors emoluments - 101,850
Director fee - 3,000
Dividend 800,000 -
Donation 27,591 6,506
Electricity & water 7,575 11,321
EPF & SOCSO 59,375 44,289
Filing fee 150 150
Insurance 18,264 3,064
Legal fees 4,613 16,042
License fee 69 79
Marketing expenses 22,272 32,825
Medical 3,070 9,446
Motor vehicles running expenses 8,974 12,264
Office upkeep 1,235 7,125
Office upkeep (cleaning) 4,544 -
Overtime 24,515 31,274
Printing, stationeries & postages 25,388 44,004
Processing fees & stamping fee 9,465 11,260
Professional fees 4,700 15,800
Provision for doubtful debts (525,770) -
Rental 18,000 9,600
Salary & wages 349,259 243,607
Sundry expenses (10) -
Secretarial fees 6,000 6,000
Service tax 235 669
Staff amenities 19,531 18,059
Stamping fee 760 -
Signboard 5,500 -
Telephone charges 41,645 31,484
Toll & parking 4,439 6,870
Travelling expenses 4,019 2,060
Training fees 300 -
Upkeep of equipment 429 750
Upkeep of motor vehicles 5,068 2,995
Loss on disposal
1,947,417 2,473,900

Staff costs 622,396

No. of employees at year end 102
REAL MAX SDN BHD
YEAR ENDED 31 MAY 2019
STATEMENT OF FINANCIAL POSITION

2019 2018
RM h

Non current assets

Property, plant & equipment 2,171,077 2,602,823

Current assets
Inventories, at cost 819,799 759,484
Trade receivables 13,093,748 12,345,287
Other receivables 31,851 35,329
Deposits 43,000 40,960
Prepayments 47,839 71,175
13,216,438 12,492,751
Tax recoverable 701,769 119,118
Deposits, Cash and bank balances 3,030,428 2,702,590

17,768,434 16,073,943

Less: Current liabilities

Trade payables 8,508,654 7,736,335
Accrued liabilities (89,269) 473,306

8,419,385 8,209,641
Bank overdraft - 24,985
Borrowings(secured)
- Hire purchases & lease 220,730 608,167
- Banker acceptance 2,000,000 2,000,000
2,220,730 2,608,167
Current tax liabilities - -

10,640,115 10,842,793

Net current assets 7,128,319 5,231,150

Non current liabilities

Borrowings(secured)
Hire purchases & lease 74,698 133,263
Deffered tax liabilities 260,000 260,000
334,698 393,263
8,964,698 7,440,710

Capital and reserve

Share capital 1,000,000 1,000,000

Retained earnings 7,964,698 6,440,710

Dividend
Shareholders' equity 8,964,698 7,440,710
REAL MAX SDN BHD
YEAR ENDED 31 MAY 2019
Fixed Assets Listings

Cost 1 June NBV at 1 NBV at 31 Cost at 31 NBV at 31 GRAND

Fixed Assets Dep % 2018 June 2018 Depreciation Addition Disposal May 2018 May 2019 Acc.Dep May 2019 TOTAL

Furniture, Fittings &

Equipment
Office & Other Equipment 20% 193,671 42,662 (19,263) 8,284 - 31,683 199,030 (170,386) 369,416 655,097
Furniture & Fittings 20% 28,258 23,250 (1,938) - - 21,312 28,258 (11,596) 39,854 127,398
Revovation 20% 139,865 122,510 (10,209) - - 112,301 139,865 (52,066) 191,931 644,197
Sub Total 361,794 188,422 (31,410) 8,284 - 165,296 367,153 (234,048) 601,201 1,426,692

Plant & Buildings

Plant & machinery 20% 2,938,062 715,021 (217,192) 43,000 - 540,829 3,046,684 (2,612,672) 5,659,356 10,113,088
Factory Equipment 20% 144,649 76,933 (25,053) 4,700 - 56,580 144,649 (112,048) 256,697 547,107
Leased Assets 20% 2,797,698 747,911 (405,200) 1,036,000 - 1,378,711 3,049,698 (1,801,203) 4,850,901 11,654,516
Plant at Pekan 20% 44,970 30,729 (8,994) - - 21,735 44,970 (32,229) 77,199 178,380
Plant at B.Sekilau 20% 49,274 - - - - - 49,274 (49,274) 98,548 147,822
Plant at Penor 20% 22,065 4,781 (4,413) - - 368 22,065 (22,065) 44,130 66,931
Plant at Beruntung 20% 10,026 2,339 (2,006) - - 333 10,026 (10,026) 20,052 30,744
Plant at Batu 12 20% 72,085 31,237 (14,417) - - 16,820 72,085 (69,682) 141,767 249,895
Plant at Ajil 20% 79,205 56,764 (15,841) - - 40,923 79,205 (54,123) 133,328 319,461
Plant at Seberang Takir 20% 40,238 33,531 (8,047) - - 25,484 40,238 (22,802) 63,040 171,682
Plant at Kuala Kurau 20% 7,053 6,818 (1,411) - - 5,407 7,053 (3,057) 10,110 31,973
Plant at Gong Badak 20% 28,180 17,033 (5,636) - 11,397 28,180 (22,419) 50,599 107,334
Site Office Balok 20% 46,810 - - - - - 46,810 (46,810) 93,620 140,430
Plant at Kuari Bukit Ketam 20% 27,342 27,342 (4,557) - - 22,785 27,342 (10,025) 37,367 127,596
Plant at MEC 20% 27,172 27,172 (3,170) - - 24,002 27,172 (8,604) 35,776 129,520
Plant at Kemaman 20% 23,895 23,895 (1,195) - - 22,700 23,895 (5,974) 29,869 117,085
Plant at Bukit Rangin 20% 24,783 24,783 (413) - - 24,370 24,783 (5,370) 30,153 123,089
UMP Pekan 20% - - - - - - 27,383 (2,282) 29,665 54,766
Sub Total 6,383,507 1,826,289 (717,545) 1,083,700 - 2,192,444 6,771,512 (4,890,665) 11,662,177 24,311,419

Motor Vehicles
Site 20% 390,754 85,048 (45,850) 149,305 - 188,503 390,754 (263,488) 654,242 1,549,268
Admin 20% 252,929 96,190 (39,610) - - 56,580 252,929 (227,403) 480,332 871,947
Sub Total 643,683 181,238 (85,460) 149,305 - 245,083 643,683 (490,891) 1,134,574 2,421,215

GRAND TOTAL 7,388,984 2,195,949 (834,415) 1,241,289 - 2,602,823 7,782,348 (5,615,604) 13,397,952 28,159,326