Annual Report 2011 - The Malaysian Institute Of Certified Public ...

104Financial StatementPresident’s Statement15. DEFERRED TAXATIONDeferred tax, determined after appropriate offsetting is as follows:2011 2010RM RMDeferred tax liabilities 50,853 3,500Deferred tax assets (50,853) (3,500)Net deferred tax - -(a)The components and movements of deferred tax liabilities and assets during the financial year are as follows:RecognisedAs at in profit As at1 January or loss 31 December2011 RM RM RMDeferred tax liabilities:Excess of development cost of study manualsincurred over development cost amortised 3,500 (3,500) -Excess of capital allowances over depreciation - 50,853 50,8533,500 47,353 50,853Deferred tax assets:Excess of depreciation over capital allowances (1,300) 1,300 -Unutilised capital allowances - (36,874) (36,874)Unabsorbed tax losses (2,200) (11,779) (13,979)(3,500) (47,353) (50,853)RecognisedAs at in profit As at1 January or loss 31 December2010 RM RM RMDeferred tax liabilities:Excess of development cost of study manualsincurred over development cost amortised 4,920 (1,420) 3,500Excess of capital allowances over depreciation 4,810 (4,810) -9,730 (6,230) 3,500Deferred tax assets:Excess of depreciation over capital allowances - (1,300) (1,300)Unabsorbed tax losses (9,730) 7,530 (2,200)(9,730) 6,230 (3,500)