b)After taking period read through the Bina Goodyear Berhad's (18645-H) annual survey 2013 faithfully, there is a few accounting concepts found which have been applied. i) Accounting period concept:
The business and Selection of Bina Goodyear Berhad have their financial statement for economic year concluded June 2013. Besides that, no other transaction or any financial record opened within date fall into its financial year finished June 2013. Thus, the concept of accounting period can be said that has been applied to the annual report. ii) Full disclosure concept
Inside the total annual report 2013 of Bina Goodyear Berhad has additional compliance information (page 16-17) which stated about some situations or participations that may affect the financial of the Organization and Group significantly throughout the financial 12 months. Start from page 43-93 in the annual survey there is Remarks to the Economic Statement which usually detailed data, events and accounts have been completely write down every like case in point the fixed assets/PP& Electronic (property, flower and equipment), taxation and etc. With the further compliance details, the paperwork and etc. given, it can be declared that it is complete disclosure about the economical of Bina Goodyear Berhad and idea of full disclosure applied. iii) Prudence/Conservation strategy
In the financial statement of the years report 2013 of Bina Goodyear Berhad, prudence/conservation idea has been applied. Liabilities are included once there is " possibility” of incurring all of them (not overstated). The part, Impairment on transact receivables underneath Independent auditors” Report to the Members of Bina Goodyear Berhad (page 31) in the annual survey, mention that we have a project has been terminated. Although the settlement in the project happens to be in arbitration but there is insufficient evidence to ascertain the recoverability of the project. Hence it is recorded as net loss under trade receivable account in Notes for the Financial Statement.