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ACC102 Accounting | Report

   

Added on  2020-03-16

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ACC102 ACCOUNTING 1B1
ACC102 Accounting | Report_1
ContentsIntroduction......................................................................................................................................3Part A: Analysis of the consolidated financial statements of JB Hi-Fi Limited..............................3Analysis of increase or decrease in its current liabilities.................................................................3Major liabilities of JB Hi-Fi Limited...............................................................................................4Items included under ‘Provisions’ in the ‘Current Liabilities’........................................................5Cash raised by interest-bearing loans..............................................................................................6Secured Non-Current Liabilities......................................................................................................7Amount of the non-current borrowings due to be repaid................................................................8Non-Current Provisions...................................................................................................................9Part B:..............................................................................................................................................9Income Tax Expense......................................................................................................................10Distribution of Profits....................................................................................................................11Issued capital.................................................................................................................................12Cash Flow Statements....................................................................................................................13Conclusion.....................................................................................................................................13References......................................................................................................................................142
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IntroductionThe present report aims to present an analysis of the various financial elements present inthe consolidated financial statements of two ASX listed company. The business companiesselected for the purpose are JB Hi-Fi Limited and Country Road Limited. Part A: Analysis of the consolidated financial statements of JB Hi-Fi LimitedAnalysis of increase or decrease in its current liabilitiesThe current liabilities refer to the debt obligations of a business entity that is liable to bepaid within a year and is stated in the balance sheet. The current liabilities of the company areshort-term debt, accounts payable, accrued liabilities and other financial obligations that must bepaid within short-period of time (Epstein and Jermakowicz, 2010). The JB Hi-Fi Limited is arecognized retailer of Australia involved in providing variety of products to the people of thecountry such as consumer goods, video games, DVDs, CDs, home appliances and others. Thecurrent liabilities as reported in the balance sheet of the company are trade and other payable,other financial liabilities, current tax liabilities, provisions and other current liabilities. Thecurrent tax liabilities include income tax and provision includes employee benefits and leaseprovision. The other financial liabilities includes interest rate swap while the other currentliabilities include lease accrual and incentives. The current liabilities of the company haveincreased significantly in the year 2013 of amount $442,379 as compared to year 2012 of$439,481 (JB Hi-Fi Limited: Annual Report, 2013). 3
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Source: JB Hi-Fi Limited Annual Report Major liabilities of JB Hi-Fi LimitedThe major liabilities of JB Hi-Fi Limited include both current and non-current liabilities.The total liabilities of the company at the end of the financial year 2013 are reported to be$599,476 (000). The major non-current liabilities of the company include borrowings,provisions, other non-current liabilities, other financial liabilities. The main difference betweenthe current and non-current liabilities is the non-current liabilities are to be paid by the companyin longer period of time that is more than 1 year (JB Hi-Fi Limited: Annual Report, 2013). Themajor liabilities of the company as depicted in its balance sheet are as follows:4
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