Reporting Framework Used by Perdana Horses SD Bud
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Reporting Framework Used by Perdana Horses SD Bud
The reporting framework to be used by Perdana Horses SD Bud for financial reporting purposes,
How should the proceeds of the activities of Perdana Horses SD Bud be accounted for, and
How should the horse be owned by Perdana Horses SD Bud?
Perdana Horses SD Bud (PHSB), which has been operating since 2007, is a well-known equine sports operator on
Langkawi Island. Eking Perdana is the epicenter of equities operations and sports for PHSB. Among the services offered at
Eking Perdana are horse rental and horse-riding training classes. The type of horse breed used for equine activity and
sports programs is Carillons imported from Argentina.
The four horse rental packages offered are Casual Packages, Beach Packages, Wilderness Packages and Travel Packages.
Charges charged for each package are based on rental hours. Horse riding training classes are offered in the form of 10
session packages. Charges range from RM250 to RM650 for ten sessions depending on the level of start, middle, or
advanced.
In addition, PHSB also offers breeding services, stable rental services and veterinary services operated at Arisen Perdana.
The charge for breeding is RM1,500 for a horse while the charge for the breeding process starts from RM2,000 depending
on the type of horse breed. The breed of horses used for breeding programs are Pony Cross and Arabian. Horses used for
breeding services are also involved in horse shows and competitions.
The charge for stable rental depends on the type of package chosen i.e. daily package or monthly package. The charge for
the daily package is RM150 per day which includes charges for the stable, paddock and track. The monthly rental fee for
the Full Package (stable, food, care, paddock and track) is RM2,500 per month while the Basic Package is RM750 per
month. Charges for veterinary services are charged based on the type of services provided.
The interest in PHSB is held by Berjaya Langkawi Beach Resort SD Bud (BLBR) which has 60% interest and Island Horses
SD Bud (IHSB) which owns 40% interest. BLBR is a wholly-owned subsidiary of Berjaya Corporation Berthed. The
agreement between BLBR and ISSB stipulates that all decisions regarding PHSB’s financial policies and operating policies
require the agreement of BLBR and IHSB.
Explain by justifying and referring to the relevant standards (as appropriate):
RUBRIC
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