Accounting

ACCOUNTING

Table of Contents
INTRODUCTION...........................................................................................................................3
PART A...........................................................................................................................................3
1. Current Liabilities....................................................................................................................3
2. Major Liabilities.......................................................................................................................3
3. Provisions.................................................................................................................................4
4. Interest bearing loan.................................................................................................................4
5. Non-current liabilities as secured.............................................................................................4
6. Non current borrowings...........................................................................................................4
7. Detail of Non current provisions..............................................................................................5
PART B............................................................................................................................................5
1. Detail of income tax expenses of Country Road Limited company........................................5
2. Appropriation of change in equity...........................................................................................5
3. Difference in financial statement items of company and partnership......................................6
4. The requirement of cash flow statement for typical partnership.............................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Accounting refers to the process of recording, analysing, measuring and interpreting the
financial information in pre defined format. It helps the internal and external stakeholders to
interpret the annual position of company and take effective decision regarding the investment in
company's capital. The report highlight the various components of JB Hi-Fi limited company
such as current liability, provision, cash transaction etc. It explains the trend of growth from one
financial year to another financial year. It also highlights the financial position of Country Road
limited company. It presents the different financial information such as change in equity, current
liability, assets, provisions, income statement item etc. to take the effective and efficient decision
for the growth of the company.
PART A
1. Current Liabilities.
The Current Liabilities of JB Hi-Fi have increased as compare to last year which was
917.2 million dollars in 2018 and increased to 927.1 million dollars. The current liabilities have
increased by 1.08% in the year 2019. In the company the current liabilities which are classified
under the head Current Liabilities are:
Trade and other payables which have been decreased as compare to 2018 by around 1.2%.
Deferred revenue which have increased in 2019 by 8.4%. rovisions which also have increased in
2019 by 12.4%. Other current liabilities which have fallen in the year 2019 by 3.6%. Current tax
liabilities which have fallen in the year 2019 by 46.8%.
It is clealy seen the company is good at paying taxes and also provisions have increased
which is also a good sign that the JB Hi-Fi is aware of its future but the deferred revenue have
increased which is a good because the amount can be invested and bad as well because if
company fails to meet the commitment to its creditors then it will spoil the reputation of the
company.
2. Major Liabilities.
The major liabilities of JB HI-Fi as per the financial year 2019 are the Trade and other
payables which is 656.9 million USD, non current Borrowings under the head Non-current
liabilities which are 439.1 million US dollars (Birt. and et.al., 2019). Deferred Revenue under the
head Current Liabilities which is around 163.2 million USD and the Provisions which is around
93.9 million USD. All these are the major Liabilities of JB Hi-Fi and must be managed properly