[Consolidated] Punggol East SMC Financial Report Discussions

[icekachang72]

cos touchy parts PAP wanna avoid, they wanna avoid they move on.

otherwise integrity honesty issue hoohaa again.

Move on also must sexplain to voters ...

 

[Soulblade]

Love to see LHL‘s face when the voting results are released next week.

 

[mojojo]

Pap rly cheating primary sch kids..receivables means haven't receive yet..so cannot add into profit margin at all

 

[Techadd]

yes, yes, look at the camera...and OH! don't forget to check the old man pulse to add a a little more to the realism...

 

[messi7]

Pretty sure LTK and his crew have already foreseen the scenario and probable reactions and rebutts from pap and its media when they made the Punggol FR public in their rallies.

I'm betting they are saving the best ammunition for the last


Art of war by Sun Tzu

Thats wat i think so too, veteran LTK won't shoot with this kind of black and white without having the best ammo still in place

but wat i worry is the naive singaporeans who will believe wat the pap has replied

 

[satayxp]

Fug lah, u guys think all of us are accountants meh?

Can we have an executive summary ?
Who is lying here ?

financial stmts are in plain simple english.. there is really nothing that complicated.

words like 'Deficit Before Grants' states clearly what it means ~~

 

[Insatiablex]

Fug lah, u guys think all of us are accountants meh?

Can we have an executive summary ?
Who is lying here ?

Ok, I will provide a very simple explanation and example

P&L - Records revenue, expenses, profit and losses INCURRED during an accounting period

BS - Provides a snapshot of a company's Financial health at a certain point (usually at the end of the accounting period).

Think of P&L like a video and BS like a snapshot at the end of the video.

So whatever is shown in P&L will be accounted for in BS, Vice Versa.

For Example
I'm running a town council, Government supposed to give me grant of 4m during this accounting period BUT they haven disbursed it yet. but we have to record it because its the grant for this accounting period. So an accountant would record the entry as

Dr Grant Receivable (BS item)
Cr Grant Income (P&L item)


IF got any mistakes, please correct me.

 

[God Of Pcc]

Pap rly cheating primary sch kids..receivables means haven't receive yet..so cannot add into profit margin at all

Hahaha if AR can add to profit hor,all the SMEs will cry loh

Why
Have to pay more company tax base on net profit leh

 

[dxdx999]

Thats wat i think so too, veteran LTK won't shoot with this kind of black and white without having the best ammo still in place

but wat i worry is the naive singaporeans who will believe wat the pap has replied

they will.

channel 8 already announced this.

how can you explain accounting concepts to the man on the street so easily?

 

[God Of Pcc]

Tmr,go back office,i confirm show this article to my finance manager

 

[Toonsy92]

THIS IS MADNESS...Firstly, PAP and WP are comparing two different STUFF. Secondly, Basic Accounting will know P+L or Balance Sheet which paints a better picture of the finance.

 

[tree trunk]

how come he look around but not at the victim?

 

[testingabc]

FINANCE DEPARTMENT SURE LAUGH AT PAPAYA JOKERS

 

[God Of Pcc]

THIS IS MADNESS...Firstly, PAP and WP are comparing two different STUFF. Secondly, Basic Accounting will know P+L or Balance Sheet which paints a better picture of the finance.

Cash flow statement then show one,net profit more for calculating tax payable

 

[Death4ngel]

they will.

channel 8 already announced this.

how can you explain accounting concepts to the man on the street so easily?

If can explain so easily, then need accountants for what.

 

[Soulblade]

Thats right, people. Keep PAP attention on Aljunied....BWHAHAHA!!!

 

[God Of Pcc]

FINANCE DEPARTMENT SURE LAUGH AT PAPAYA JOKERS

Yes precisely leh

 

[dxdx999]

If can explain so easily, then need accountants for what.

precisely.

so wp is screwed big time even though they are not in the wrong.

 

[fortunecat]

they will.

channel 8 already announced this.

how can you explain accounting concepts to the man on the street so easily?

Looks like LTK going to give accounting lesson during next rally liao

Sent from MBS using GAGT

 

[Le_coq]

Why 1 page got signature and the other no have. 1 is page 5 and the other page 20. One is financial statement and the other " notes to financial statement ".

Best if they post the full report statement for all to see.

because is apple and orange.