Professional Documents
Culture Documents
NOTE 9 Inventories
The corporation stated the approved sale of BOD of one of the Group’s
passenger/cargo vessel. Stating the date of approval, as well as the name of
passenger/cargo vessel being sold.
Stated the date when the vessel was sold, including the total consideration
received and the date when the vessel delivered to the buyer.
The corporation presented a table showing the details of investments and joint
ventures for 2018, 2017 and 2016.
Also showed summarized financial information of the Group’s associates and
joint ventures and reconciliation with the carrying amount of the investment in
the consolidated financial statements.
The Group presented a table showing the accounts included in the Other
Current Assets with its respected amounts in 2018 and 2017.
Presented the relation of Deferred input VAT to the major capital expenditures
and drydocking of vessels.
Classified the accounts related to the Refundable deposits.
Showed a table presenting the movement of Software, one of Other Noncurrent
Assets of the group. It also shows the amortization recognized in the said
account in the consolidated statement of profit or loss.
The Group defined investment property. They indicated their basis to
determine the fair value of investment property.
Presented a conclusion regarding to the changes of fair value of investment
property as at December 31, 2018.
Also presented the income and expenses that were incurred from Group’s
investment property.
The Group stated the origin of their notes payable and the range of annual
interest rates used.
Stated the amounts of total interest expense incurred for the years 2018, 2017
and 2016.
The Group presented a table showing the accounts included in Trade and
Other Payables with its respected amounts in 2018 and 2017. It also specified
the accounts that are included on each line item.
Stated that Trade and other payables are non-interest bearing and the normal
number of days terms of the payables. The Group also explained that some of
trade payables are payable on demand.
They also stated the provision and the amounts recognized for cargo losses
and damages for cost of claims or passenger claims which are not covered by
insurance in 2018, 2017 and 2016.
They also showed the amount of actual claims for 2018, 2017 and 2016.
Activity 2:
If the fair value of biological assets previously measured at cost now becomes
available, certain additional disclosures are required.
Disclosures relating to government grants include the nature and extent of
grants, unfulfilled conditions, and significant decreases in the expected level of grants.
Subsidiaries
Joint arrangements (joint operations or joint ventures)
Associates
Unconsolidated structured entities
The objective of PFRS 12 is to require the disclosure of information that enables users
of financial statements to evaluate: [PFRS 12:1]
The nature of, and risks associated with, its interests in other entities
The effects of those interests on its financial position, financial performance and
cash flows
Where the disclosures required by PFRS 12, together with the disclosures
required by other PFRSs, do not meet the above objective, an entity is required to
disclose whatever additional information in necessary to meet the objective. [PFRS
12:3]
An entity shall disclose information that enables users of its financial statements to
evaluate: [PFRS 12:20]
The nature, extent and financial effects of its interests in joint arrangements and
associates, including the nature and effects of its contractual relationship with the
other investors with joint control of, or significant influence over, joint
arrangements and associates
The nature of, and changes in, the risk associated with its interests in joint
ventures and associates.