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Established in 2016, Nova Bhd, a laptop manufacturing company has carved out a very good reputation in the tech industry, boasting consistent sales and a loyal customer base. With the year-end approaching on 31 December 2023, executives gather to review the financial performance and strategize for the coming year. The company’s capital structure, comprising 150,000,000 units of ordinary shares at RM1 each and 12,000,000 of 10% cumulative preference shares at RM1 each.
The following balances are for the year ended 31 December 2023.
The MASB develops and publishes a separate Standard to be applied to the general purpose financial statements of private entities which is Malaysian Private Entities Reporting Standard (MPERS). The MPERS is based on the IASB’s International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) which one of the objective is to provide information about the financial position, performance and cash flows of the a private entity that is useful for economic decision-making by a broad range of users of the financial statements who are not in a position to demand reports tailored to meet their particular information needs.
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