Consolidated statement of profit or loss Year ended 31 Dec. 2019 Year ended 31 Dec. 2020 Notes KD KD Income Income from instalment credit debtors Revenue from contracts with customers Realised profit from instalment sales Rental income Interest income (Loss)/gain on sale of financial assets at FVTPL Change in fair value of financial assets at FVTPL Share of results of associates Dividend income Gain on foreign currency exchange Other income 662,048 1,781,427 579,886 142,615 480,592 (1,258,078) (926,161) 1,767,796 2,421,558 42,346 120,807 1,595,269 2,963,334 245,158 149,737 955,584 845,937 3,256,259 1,973,274 2,259,890 60,096 222,334 8. 18.4 11 5,814,836 14,526,872 Expenses and other charges Staff costs General and administrative expenses Finance costs (2,838,336) (1,594,491) (1,667,255) (452,969) (471,335) (134,160) (199,100) (3,062,993) (1,705,311) (2,111,098) (438,693) (2,491,994) 9. 20 & 21 Depreciation Provision for instalment credit debtors, net Impairment of investment in real estate under development Provision for properties held for trading Impairment of financial assets at FVTOCI Impairment loss of associate Provision for doubtful debts 13 19 16 (117,140) (1,848,304) 18 15 (4,567,654) (638,002) (2,408,180) (211,328) (1,000,000) Provision of credit losses for restricted cash and cash equivalents 12.2 (14,971,482) (12,986,861) (Loss)/profit for the year before provisions for contribution to Kuwait Foundation for the Advancement of Sciences (KFAS), Zakat and National Labour Support Tax (NLST) (9,156,646) 1,540,011 (Loss)/profit for the year (9,156,646) 1,540,011 Attributable to: Shareholders of the Parent Company Non-controlling interests (9,511,226) 354,580 1,095,948 444,063 (Loss)/profit for the year (9,156,646) 1,540,011 Basic (loss)/earnings per share attributable to the shareholders of the Parent Company (Fils) 10 (12.005) 1.375 Diluted (loss)/earnings per share attributable to the shareholders of the Parent Company (Fils) 10 (11.975) 1.375

Consolidated statement of profit or loss Year ended 31 Dec. 2019 Year ended 31 Dec. 2020 Notes KD KD Income Income from instalment credit debtors Revenue from contracts with customers Realised profit from instalment sales Rental income Interest income (Loss)/gain on sale of financial assets at FVTPL Change in fair value of financial assets at FVTPL Share of results of associates Dividend income Gain on foreign currency exchange Other income 662,048 1,781,427 579,886 142,615 480,592 (1,258,078) (926,161) 1,767,796 2,421,558 42,346 120,807 1,595,269 2,963,334 245,158 149,737 955,584 845,937 3,256,259 1,973,274 2,259,890 60,096 222,334 8. 18.4 11 5,814,836 14,526,872 Expenses and other charges Staff costs General and administrative expenses Finance costs (2,838,336) (1,594,491) (1,667,255) (452,969) (471,335) (134,160) (199,100) (3,062,993) (1,705,311) (2,111,098) (438,693) (2,491,994) 9. 20 & 21 Depreciation Provision for instalment credit debtors, net Impairment of investment in real estate under development Provision for properties held for trading Impairment of financial assets at FVTOCI Impairment loss of associate Provision for doubtful debts 13 19 16 (117,140) (1,848,304) 18 15 (4,567,654) (638,002) (2,408,180) (211,328) (1,000,000) Provision of credit losses for restricted cash and cash equivalents 12.2 (14,971,482) (12,986,861) (Loss)/profit for the year before provisions for contribution to Kuwait Foundation for the Advancement of Sciences (KFAS), Zakat and National Labour Support Tax (NLST) (9,156,646) 1,540,011 (Loss)/profit for the year (9,156,646) 1,540,011 Attributable to: Shareholders of the Parent Company Non-controlling interests (9,511,226) 354,580 1,095,948 444,063 (Loss)/profit for the year (9,156,646) 1,540,011 Basic (loss)/earnings per share attributable to the shareholders of the Parent Company (Fils) 10 (12.005) 1.375 Diluted (loss)/earnings per share attributable to the shareholders of the Parent Company (Fils) 10 (11.975) 1.375

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Questions about the Income Statement.

a. List 2 expense accounts AND their amounts for 2020

b. What was the net profit/(loss) for 2020? What about 2019?

c.Compared with 2019, has the net profit/(loss) increased or decreased?

Consolidated statement of profit or loss
Year ended
31 Dec.
Year ended
31 Dec.
2020
KD
Notes
2019
KD
Income
Income from instalment credit debtors
Revenue from contracts with customers
Realised profit from instalment sales
Rental income
Interest income
(Loss)/gain on sale of financial assets at FVTPL
Change in fair value of financial assets at FVTPL
Share of results of associates
Dividend income
Gain on foreign currency exchange
Other income
662,048
1,781,427
579,886
142,615
480,592
(1,258,078)
(926,161)
1,767,796
2,421,558
42,346
120,807
1,595,269
2,963,334
245,158
149,737
955,584
845,937
3,256,259
1,973,274
2,259,890
60,096
222,334
8.
18.4
11
5,814,836
14,526,872
Expenses and other charges
Staff costs
General and administrative expenses
Finance costs
Depreciation
Provision for instalment credit debtors, net
Impairment of investment in real estate under development
Provision for properties held for trading
Impairment of financial assets at FVTOCI
Impairment loss of associate
Provision for doubtful debts
Provision of credit losses for restricted cash and cash equivalents
(2,838,336)
(1,594,491)
(1,667,255)
(452,969)
(471,335)
(134,160)
(199,100)
9.
20 & 21
13
19
16
(3,062,993)
(1,705,311)
(2,111,098)
(438,693)
(2,491,994)
(117,140)
(1,848,304)
18
15
12.2
(4,567,654)
(638,002)
(2,408,180)
(211,328)
(1,000,000)
(14,971,482)
(12,986,861)
(Loss)/profit for the year before provisions for contribution to
Kuwait Foundation for the Advancement of Sciences
(KFAS), Zakat and National Labour Support Tax (NLST)
(9,156,646)
1,540,011
(Loss)/profit for the year
(9,156,646)
1,540,011
Attributable to:
Shareholders of the Parent Company
Non-controlling interests
(9,511,226)
354,580
1,095,948
444,063
(Loss)/profit for the year
(9,156,646)
1,540,011
Basic (loss)/earnings per share attributable to the
shareholders of the Parent Company (Fils)
10
(12.005)
1.375
Diluted (loss)/earnings per share attributable to the
shareholders of the Parent Company (Fils)
10
(11.975)
1.375

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