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This case is used to demonstrate the implementation of the residual income (RI) model using mid-cap SGX-listed firm Sheng Siong. Students are provided with basic financial statements and forecast assumptions. They are to use the data to construct the condensed financial statements and to derive the equity valuation as at the beginning of 2022 using the RI model and discounted cash flow (DCF) model. The case is useful for students to learn the mechanics of the RI and DCF model. The case can be done either as an in-class workshop/exercise or as an out-of-class assignment.

Spreadsheet supplement for case NTU331

This case examines the accounting of sale and leaseback transaction for an undergraduate or graduate accounting class. This case also examines the effects of such a transaction on financial statements. Vibrant Group is listed on the Singapore Exchange. In 2019, it entered into a sale and leaseback transaction. This was reported in its 2020 Annual Report using the revised Singapore Financial Reporting Standards (International) 16 ("SFRS(I) 16") Leases. This case exposes students to practical situations that highlight important principles and illustrate best practices in accounting. The business scenario of this case creates opportunities to delve into a variety of capital management options, namely: (i) obtaining a loan using property as a collateral; (ii) issuance of share capital; or (iii) entering into a sale and leaseback transaction; their pros and cons and financial statement effects. This case may be used in countries where IFRSs are applicable as SFRS (I) 16 Leases is identical to IFRS 16 Leases.