Lafarage Cement
Executive Summary
The purpose of this report is to analyze and discuss the significance of the accounting principles and the qualitative characteristics of the accounting information of the selected company which is listed on Bursa Malaysia. With this regard Lafarge Malayan Cement Berhad (LMCB) is selected, then analyzed and evaluated how the accounting principles they have used and the qualitative characteristic of the accounting information is published in its annual report for the year 2011.By analyzing the annual report of Lafarge Malayan Cement Berhad (LMCB) its being found that they have applied basic accounting principles and has qualitative characteristics of accounting information which includes relevance and reliability as primary standards and comparability and consistency as secondary standards. The information included in the annual report is in such a way that the users of those information can verify company’s financial position as information is presented timely with feedback value and faithfully without bias. The information in the annual report can be compared with similar companies to make performance comparison over time as they have applied consistency in using accounting principles and standards.
1. Introduction of the company
In the Malaysian construction materials industry Lafarge Malayan Cement Berhad (LMCB) is the leader. It was incorporated in 1950.In 1953 LMC built its first cement plant in Rawang.
In South-East Asia, Lafarge’s most essential markets are in Malaysia. In 2001 Lafarge first moved into the Malaysian Cement market via the acquirement of Blue circle, and today they are present in Aggregates, Concrete and Cement.
Today LMCB is the Guardian of a group of companies in Singapore and Malaysia whose base businesses are in the sale and manufacturing of cement, ready-mixed concrete plus other related building materials.
Lafarge is sited in 64 countries with 68,000 employees. Lafarge is a globe leader in building
The purpose of this report is to analyze and discuss the significance of the accounting principles and the qualitative characteristics of the accounting information of the selected company which is listed on Bursa Malaysia. With this regard Lafarge Malayan Cement Berhad (LMCB) is selected, then analyzed and evaluated how the accounting principles they have used and the qualitative characteristic of the accounting information is published in its annual report for the year 2011.By analyzing the annual report of Lafarge Malayan Cement Berhad (LMCB) its being found that they have applied basic accounting principles and has qualitative characteristics of accounting information which includes relevance and reliability as primary standards and comparability and consistency as secondary standards. The information included in the annual report is in such a way that the users of those information can verify company’s financial position as information is presented timely with feedback value and faithfully without bias. The information in the annual report can be compared with similar companies to make performance comparison over time as they have applied consistency in using accounting principles and standards.
1. Introduction of the company
In the Malaysian construction materials industry Lafarge Malayan Cement Berhad (LMCB) is the leader. It was incorporated in 1950.In 1953 LMC built its first cement plant in Rawang.
In South-East Asia, Lafarge’s most essential markets are in Malaysia. In 2001 Lafarge first moved into the Malaysian Cement market via the acquirement of Blue circle, and today they are present in Aggregates, Concrete and Cement.
Today LMCB is the Guardian of a group of companies in Singapore and Malaysia whose base businesses are in the sale and manufacturing of cement, ready-mixed concrete plus other related building materials.
Lafarge is sited in 64 countries with 68,000 employees. Lafarge is a globe leader in building
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