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Financial Statements of Liquefied Natural Gas Limited : Assignment

   

Added on  2020-05-16

11 Pages2296 Words98 Views
Running head: FINANCIAL REPORT ANALYSIS OF LIQUEFIED NATURAL GAS LTDFINANCIAL REPORT ANALYSIS OF LIQUEDFIED NATURAL GAS LTDName of the Student:Name of the University:Author’s Note:Executive Summary

1FINANCIAL REPORT ANALYSIS OF LIQUEFIED NATURAL GAS LIMITEDThe main objective of this report is to analysis the financial statements of Liquefied Natural GasLimited. The report focuses on the analysis of different areas of the financial statement of thecompany such as how much the company incurs in income tax expense of the company and howdeferred tax assets and liabilities. The report will be analyzing the various kinds of equity whichthe business has and the equities which are depicted in the balance sheet. The report will beconsidering the changes which occurs in the values of equity from previous year figure. Thereport will analyzing the tax treatments and tax expenses of the company with respect toprevious year figures. The report will end with a detailed explanation of the company’s taxstructure.

2FINANCIAL REPORT ANALYSIS OF LIQUEFIED NATURAL GAS LIMITEDTable of ContentsIntroduction......................................................................................................................................3Discussion........................................................................................................................................3i.Equities of Liquefied Natural Gas Ltd..................................................................................3ii.Income Tax Expenses of Liquefied Natural Gas Ltd...........................................................5iii.Deferred Tax Assets and Deferred Tax Liabilities...........................................................5iv.Current Tax Expenses and Income Tax Payable..............................................................6v.Difference in Income Tax Expenses.....................................................................................6vi.Tax Structure of Liquefied Natural Gas ltd......................................................................7Conclusion.......................................................................................................................................7References........................................................................................................................................9

3FINANCIAL REPORT ANALYSIS OF LIQUEFIED NATURAL GAS LIMITEDIntroductionAccounting Reports are prepared the accountants by following the relevant accountingstandards, principles and prevailing accounting rules. The accountants are responsible for thepreparation and presentation of the annual reports of the company. A normal annual reportconsist of a statement of Income and Expenses of the year, a statement of financial change of theyear, a statement of the changes in cash flow during the year (Kitching, Kašperová & Collis,2015). Such annual reports of the company are published annually by the company which arethen used by different stakeholders to assess the financial performance and the future objectivesand goal of the business. OverviewLiquefied Natural Gas Limited is an Australian based company which is publicly own.The company was formed in 2002 and was listed in the Australian Stock Exchange with the ASXcode LNG in 2004. The company operates mostly In Australia and also in some parts of USA,Canada. The company is engaged in the liquefication of Natural Gas projects at the lowest costas possible. The company aims to provide safe, energy-efficient, reliable natural gas liquefactionfor the customers at the lowest minimum price possible (Liquefied Natural Gas Limited, 2018).Discussioni.Equities of Liquefied Natural Gas LtdThe different types of equity which the company has shown in the balance sheet of thecompany are contributed equity, reserves and accumulated losses. The equities of the companyrefer to the components which are associated with the share capital of the business. The types of

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