This is the financial accounting and reporting 2. can anyone help me to do it in detail asap?

QUESTION 4 PART A a) Mr. Ice is a new Finance Director for Khayla Berhad. During his first meeting with his Accountant, Sarah, he had mentioned about the following changes that he would like to make. Please indicate if the following is accordance with MFRS 108 - Accounting Policies, Changes in Accounting Estimates and Errors and how these changes would affect the current's year financial reporting. i. Classifying commission earned as revenue in the statement of profit or loss, having previously classified it as other operating income. (1 marks) ii. Switching to purchase plant using finance leases from a previous policy of cash purchase. (1 marks) iii. Switching the value of a subsidiary's inventory in line with the group policy for inventory valuation, when the consolidated financial statements is prepared. (1 marks) b) Discuss the accounting treatment and disclosure for each of the following events and transactions: 1. In 2018, the entity voluntarily changed an accounting policy. The cumulative effect of the change in accounting policy is a decrease of RM100,000 in retained earnings at 1 January 2018, i.e., the beginning of the current reporting period. The entity presents two years of comparative information and has calculated that the effect of the change in accounting policy is RM25,000 less profit for each of the past four years. (3 Marks) ii. The facts are the same as above (1). However, since retrospective application requires significant estimates of amounts and to distinguish objectively information about those estimates is impossible; thus, unlike (), it is impracticable for the entity to determine the individual period effects of the change in accounting policy on the prior periods presented. (3 Marks) iii. In 2018, after the entity's 2017 financial statements were approved for issue, the entity discovered that, as a result of a computational error, depreciation expense for 2017 was understated by RM100. (3 Marks) iv. An entity provides warranties at the time of sale to purchasers of its products. On 31 December 2018 an entity assessed its warranty obligation for products sold before 31 December 2018 at RM100,000. Immediately before the 31 December 2018 annual financial statements were approved for issue, the entity discovered a latent defect in one of its products (.e., a defect that was not discoverable by reasonable or customary inspection). As a result of the discovery the entity revised its estimate of its warranty obligation at 31 December 2018 to RM150,000. (3 Marks) QUESTION 4 PART A a) Mr. Ice is a new Finance Director for Khayla Berhad. During his first meeting with his Accountant, Sarah, he had mentioned about the following changes that he would like to make. Please indicate if the following is accordance with MFRS 108 - Accounting Policies, Changes in Accounting Estimates and Errors and how these changes would affect the current's year financial reporting. i. Classifying commission earned as revenue in the statement of profit or loss, having previously classified it as other operating income. (1 marks) ii. Switching to purchase plant using finance leases from a previous policy of cash purchase. (1 marks) iii. Switching the value of a subsidiary's inventory in line with the group policy for inventory valuation, when the consolidated financial statements is prepared. (1 marks) b) Discuss the accounting treatment and disclosure for each of the following events and transactions: 1. In 2018, the entity voluntarily changed an accounting policy. The cumulative effect of the change in accounting policy is a decrease of RM100,000 in retained earnings at 1 January 2018, i.e., the beginning of the current reporting period. The entity presents two years of comparative information and has calculated that the effect of the change in accounting policy is RM25,000 less profit for each of the past four years. (3 Marks) ii. The facts are the same as above (1). However, since retrospective application requires significant estimates of amounts and to distinguish objectively information about those estimates is impossible; thus, unlike (), it is impracticable for the entity to determine the individual period effects of the change in accounting policy on the prior periods presented. (3 Marks) iii. In 2018, after the entity's 2017 financial statements were approved for issue, the entity discovered that, as a result of a computational error, depreciation expense for 2017 was understated by RM100. (3 Marks) iv. An entity provides warranties at the time of sale to purchasers of its products. On 31 December 2018 an entity assessed its warranty obligation for products sold before 31 December 2018 at RM100,000. Immediately before the 31 December 2018 annual financial statements were approved for issue, the entity discovered a latent defect in one of its products (.e., a defect that was not discoverable by reasonable or customary inspection). As a result of the discovery the entity revised its estimate of its warranty obligation at 31 December 2018 to RM150,000