222 NOTES TO THE FINANCIAL STATEMENTS (CONT’D) For the financial year ended 31 January 2023 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 3. Standards, amendments to published standards and interpretations, which are applicable and adopted by the Group and the Company (continued) The detailed impact of change in accounting policy to the Group are set out below: (continued) Note 26 to the Financial Statements – Cash and cash equivalents Group As previously reported RM million Effects of change in accounting policy RM million As restated RM million As at 31 January 2022 Cash and cash equivalents 1,495 1,280 2,775 Group Before effects of change in accounting policy RM million Effects of change in accounting policy RM million As restated RM million As at 31 January 2023 Cash and cash equivalents 946 476 1,422 4. Standards, amendments to published standards and interpretations to existing standards that are applicable to the Group and the Company but not yet effective (a) Financial year beginning on/after 1 February 2023 (i) Amendments to MFRS 112 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” Amendments to MFRS 112 “Deferred Tax related to Assets and Liabilities arising from a Single Transaction” clarify that the initial exemption rule does not apply to transactions where both an asset and a liability are recognised at the same time such as leases and decommissioning obligations. Accordingly, entities are required to recognise both deferred tax assets and liabilities for all deductible and taxable temporary differences arising from such transactions. (ii) Amendments to MFRS 108 “Definition of Material” Amendments to MFRS 108 “Definition of Material” revises the definition of accounting estimates to clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. The distinction is important because changes in accounting estimates are applied prospectively to transactions, other events, or conditions from the date of that change, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events.
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