AwanBiru Technology Berhad - Annual Report 2021

Notes to the Financial Statements For The Financial Year Ended 30 June 2021 55. PRIOR YEAR ADJUSTMENTS During the current financial year, prior year adjustments were made in accordance with MFRS 108 Accounting Policies, Changes in Accounting Estimates and Errors. Accordingly, certain comparatives have been restated as set out below. Statements of Financial Position (Extract):- As Previously Prior Year As Reported Adjustments Restated RM’000 RM’000 RM’000 The Group Current liabilities Contract liabilities 16,161 663 16,824 Equity Accumulated losses (24,327) (663) (24,990) Statements of Profit Or Loss and Other Comprehensive Income (Extract):- As Previously Prior Year As Reported Adjustments Restated RM’000 RM’000 RM’000 The Group Revenue 154,038 (1,133) 152,905 Gross profit 22,899 (1,133) 21,766 Loss before taxation (6,821) (1,133) (7,954) Loss after taxation attributable to:- Owners of the Company (17,171) (1,133) (18,304) Statements of Cash Flows (Extract):- As Previously Prior Year As Reported Adjustments Restated RM’000 RM’000 RM’000 The Group Loss before taxation - continuing operations (6,821) (1,133) (7,954) Decrease in contract liabilities (1,999) 1,133 (866) The prior year adjustments relates to adjustments on revenue recognition upon the allocation of transaction price in accordance to MFRS 15 Revenue from Contracts with Customers. Awantec | Financial Review Annual Report 2021 238