Cash Flow Statement, Other Comprehensive Income Statement and Corporate Income Tax Analysis of Boral Limited
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This article provides an analysis of the cash flow statement, other comprehensive income statement and corporate income tax of Boral Limited. It includes a comparative analysis of cash flows, discussion on items in other comprehensive income statement and accounting for corporate income tax.
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Running head: CORPORATE ACCOUNTING
Corporate Accounting
Name of the Student
Name of the University
Author’s Note
Corporate Accounting
Name of the Student
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Author’s Note
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1CORPORATE ACCOUNTING
Cash Flow Statement Analysis
Requirement [i]
Cash Flow from Operating Activities: The presence of some major items can be seen under
this head of cash flow of Boral Limited. They are receipts from customers, payments to the
suppliers and employees, dividend received, interest received, payment of income tax and
payment of restructure, acquisition and intangible (acquia-prod.boral.com 2018).
Boral Limited receives proceeds from their customers due to the result of credit sales and
2017 registered a reduction in this process; they are $4583.3 million in 2017 from $4635.7
million in 2016. On the contrary, it is the obligation on the company to make the payment to
their suppliers and the company has registered reduction in this payment in 2017; $4049.2 and
$4069.5 in 2017 and 2016 respectively is the amount of outflow (acquia-prod.boral.com 2018).
In the year 2017, Boral Limited has registered increase in both the dividend received and interest
received. The amount of dividend received in 2017 and 2016 is $87.9 million and $75.9 million
respectively; and $24.4 million and $8.5 million in 2017 and 2016 respectively are the amounts
of interest received (acquia-prod.boral.com 2018). In order to take the borrowings, Boral Limited
is needed to make payment for the borrowing costs; that is $74.4 million in 2017 and $69.2
million in 2016. Increased amount of borrowing leads to the increase in borrowing costs. In spite
of the increase in the profit margin, Boral Limited had to pay less income tax that is $41.8
million in 2017 and $69.4 million in 2016 (acquia-prod.boral.com 2018). The presence of
deferred tax assets and liabilities can be the reason for this difference. There is a large increase in
the costs like restructuring, acquisition and integration cost due to increase in acquisition; they
are $116.9 million and $34.5 million in 2017 and 2016 (acquia-prod.boral.com 2018).
Cash Flow Statement Analysis
Requirement [i]
Cash Flow from Operating Activities: The presence of some major items can be seen under
this head of cash flow of Boral Limited. They are receipts from customers, payments to the
suppliers and employees, dividend received, interest received, payment of income tax and
payment of restructure, acquisition and intangible (acquia-prod.boral.com 2018).
Boral Limited receives proceeds from their customers due to the result of credit sales and
2017 registered a reduction in this process; they are $4583.3 million in 2017 from $4635.7
million in 2016. On the contrary, it is the obligation on the company to make the payment to
their suppliers and the company has registered reduction in this payment in 2017; $4049.2 and
$4069.5 in 2017 and 2016 respectively is the amount of outflow (acquia-prod.boral.com 2018).
In the year 2017, Boral Limited has registered increase in both the dividend received and interest
received. The amount of dividend received in 2017 and 2016 is $87.9 million and $75.9 million
respectively; and $24.4 million and $8.5 million in 2017 and 2016 respectively are the amounts
of interest received (acquia-prod.boral.com 2018). In order to take the borrowings, Boral Limited
is needed to make payment for the borrowing costs; that is $74.4 million in 2017 and $69.2
million in 2016. Increased amount of borrowing leads to the increase in borrowing costs. In spite
of the increase in the profit margin, Boral Limited had to pay less income tax that is $41.8
million in 2017 and $69.4 million in 2016 (acquia-prod.boral.com 2018). The presence of
deferred tax assets and liabilities can be the reason for this difference. There is a large increase in
the costs like restructuring, acquisition and integration cost due to increase in acquisition; they
are $116.9 million and $34.5 million in 2017 and 2016 (acquia-prod.boral.com 2018).
2CORPORATE ACCOUNTING
Cash Flow from Investing Activities: The items under this head of cash flow for Boral Limited
are purchase of property, plant and equipment, intangibles, controlled entities; acquisition of
cash from the controlled entities; repayment of loans; proceeds from the non-current assets
disposal and proceeds from the disposal of controlled entities (acquia-prod.boral.com 2018).
In 2017, Boral Limited increased their investment for the purchase of property, plant and
equipment in order to increase the assets of the business; that is $336.4 million and $320.3
million in 2017 and 2016 respectively (acquia-prod.boral.com 2018). At the same time, the
company has also increased the investment in intangible assets; that is $3.7 million in 2017 and
$3.5 million in 2016. In 2016, the company did not acquire any controlled enmities. However,
2017 registered large acquisition of controlled entities for $3635.5 million. As the company did
not acquire any controlled entity in 2016, there was not any cash acquisition by Boral Limited
(acquia-prod.boral.com 2018). However, in the presence of the acquisition of the controlled
entities, Boral Limited acquired cash worth $74.8 million in 2017. In the year 2017, Boral
Limited has made the same repayment of loans as they did in 2017 that is $8.8 million. There is a
decrease in the proceeds of the company from the disposal of non-current assets; that is $39.5
million and $55.5 million in 2017 and 2016. Lastly, Boral Limited registered proceeds from the
disposal from the controlled enteritis that is $122.5 million in 2017 (acquia-prod.boral.com
2018).
Cash Flow from Financing Activities: The major items under this head of cash flow are raise
of capital, share buy-back, payment of dividend, proceeds from borrowings and repayment of
borrowings (acquia-prod.boral.com 2018).
Cash Flow from Investing Activities: The items under this head of cash flow for Boral Limited
are purchase of property, plant and equipment, intangibles, controlled entities; acquisition of
cash from the controlled entities; repayment of loans; proceeds from the non-current assets
disposal and proceeds from the disposal of controlled entities (acquia-prod.boral.com 2018).
In 2017, Boral Limited increased their investment for the purchase of property, plant and
equipment in order to increase the assets of the business; that is $336.4 million and $320.3
million in 2017 and 2016 respectively (acquia-prod.boral.com 2018). At the same time, the
company has also increased the investment in intangible assets; that is $3.7 million in 2017 and
$3.5 million in 2016. In 2016, the company did not acquire any controlled enmities. However,
2017 registered large acquisition of controlled entities for $3635.5 million. As the company did
not acquire any controlled entity in 2016, there was not any cash acquisition by Boral Limited
(acquia-prod.boral.com 2018). However, in the presence of the acquisition of the controlled
entities, Boral Limited acquired cash worth $74.8 million in 2017. In the year 2017, Boral
Limited has made the same repayment of loans as they did in 2017 that is $8.8 million. There is a
decrease in the proceeds of the company from the disposal of non-current assets; that is $39.5
million and $55.5 million in 2017 and 2016. Lastly, Boral Limited registered proceeds from the
disposal from the controlled enteritis that is $122.5 million in 2017 (acquia-prod.boral.com
2018).
Cash Flow from Financing Activities: The major items under this head of cash flow are raise
of capital, share buy-back, payment of dividend, proceeds from borrowings and repayment of
borrowings (acquia-prod.boral.com 2018).
3CORPORATE ACCOUNTING
In the year 2016, Boral Limited did not raise any capital, but the company has raised
capital worth $2018.9 million in the year 2017 (acquia-prod.boral.com 2018). Increased capital
requirement can be the main reason for this. There not any buy-back of share by the company in
2017, but the amount of the buy-back of share in 2016 was $115.4 million. Boral Limited used
larger portion of their profit for the payment of dividend in 2017 than 2016; that is $226.2
million and $154.2 million (acquia-prod.boral.com 2018). Boral Limited has registered huge
increase in the proceeds from borrowings; that is $1803.6 million in 2017 as compared to $2.2
million in 2016. There is a huge increase in the payment for borrowings for the company in 2017
as compared to 2016; that is $489.3 million in 2017 and $6.0 million in 2016 (acquia-
prod.boral.com 2018).
Requirement [ii]
2017 ($m) 2016 ($m) 2015 ($m)
(5,000.0)
(4,000.0)
(3,000.0)
(2,000.0)
(1,000.0)
-
1,000.0
2,000.0
3,000.0
4,000.0
413.3 477.5 418.3
(3,731.3)
(259.9) (55.7)
3,107.0
(273.4) (251.6)
Comparative Analysis of Cash Flows of
Boral Limited
Cash Flow from Operating Activities Cash Flow from Investing Activities
Cash Flow from Financing Activities
Figure 1: Comparative Analysis of Cash Flows
(Source: acquia-prod.boral.com 2018)
In the year 2016, Boral Limited did not raise any capital, but the company has raised
capital worth $2018.9 million in the year 2017 (acquia-prod.boral.com 2018). Increased capital
requirement can be the main reason for this. There not any buy-back of share by the company in
2017, but the amount of the buy-back of share in 2016 was $115.4 million. Boral Limited used
larger portion of their profit for the payment of dividend in 2017 than 2016; that is $226.2
million and $154.2 million (acquia-prod.boral.com 2018). Boral Limited has registered huge
increase in the proceeds from borrowings; that is $1803.6 million in 2017 as compared to $2.2
million in 2016. There is a huge increase in the payment for borrowings for the company in 2017
as compared to 2016; that is $489.3 million in 2017 and $6.0 million in 2016 (acquia-
prod.boral.com 2018).
Requirement [ii]
2017 ($m) 2016 ($m) 2015 ($m)
(5,000.0)
(4,000.0)
(3,000.0)
(2,000.0)
(1,000.0)
-
1,000.0
2,000.0
3,000.0
4,000.0
413.3 477.5 418.3
(3,731.3)
(259.9) (55.7)
3,107.0
(273.4) (251.6)
Comparative Analysis of Cash Flows of
Boral Limited
Cash Flow from Operating Activities Cash Flow from Investing Activities
Cash Flow from Financing Activities
Figure 1: Comparative Analysis of Cash Flows
(Source: acquia-prod.boral.com 2018)
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4CORPORATE ACCOUNTING
From the above discussion, it can be observed that Boral Limited registered increase in
the cash flow from operating activities in 2016 as compared to 2015; that is $477.5 million and
418.3 million; and the major reason for this increase is the decrease in the payment to the
suppliers and employees (acquia-prod.boral.com 2018). However, 2017 registered decrease in
this cash inflow that is $413.3 million due to the decrease in the receipts from the customers.
As per the above figure, there has been a major increase in the cash outflow from
investing activities from 2015 to 2017; that is $55.7 million in 2015, $259.9 million in 2016 and
$3731.3 million in 2017. The main reason behind this is the increase in the purchase of property,
plant and equipment, intangibles and acquisition of controlled entities as well as decrease in the
proceeds from the disposal of non-current assets (acquia-prod.boral.com 2018).
The above figure shows improvement in the cash flow from financing activities of Boral
Limited. There was an increase in the cash outflow in 2016 as compared to 2015 due to the
increase in the payment of dividend; that is $273.4 million in 2016 and $251.6 million in 2015
(acquia-prod.boral.com 2018). However, in the year 2017, Boral Limited has registered a huge
amount of cash inflow from the financing activities that is $3107 million in 2017. The prime
reason for this increase in cash outflow is huge amount of capital rising and with the huge
proceeds from the borrowings (acquia-prod.boral.com 2018).
Other Comprehensive Income Statement Analysis
Requirement [iii]
As per the statement of comprehensive income of Boral Limited, there are four items
reported in this statement. They are difference in net exchange from translation of foreign
From the above discussion, it can be observed that Boral Limited registered increase in
the cash flow from operating activities in 2016 as compared to 2015; that is $477.5 million and
418.3 million; and the major reason for this increase is the decrease in the payment to the
suppliers and employees (acquia-prod.boral.com 2018). However, 2017 registered decrease in
this cash inflow that is $413.3 million due to the decrease in the receipts from the customers.
As per the above figure, there has been a major increase in the cash outflow from
investing activities from 2015 to 2017; that is $55.7 million in 2015, $259.9 million in 2016 and
$3731.3 million in 2017. The main reason behind this is the increase in the purchase of property,
plant and equipment, intangibles and acquisition of controlled entities as well as decrease in the
proceeds from the disposal of non-current assets (acquia-prod.boral.com 2018).
The above figure shows improvement in the cash flow from financing activities of Boral
Limited. There was an increase in the cash outflow in 2016 as compared to 2015 due to the
increase in the payment of dividend; that is $273.4 million in 2016 and $251.6 million in 2015
(acquia-prod.boral.com 2018). However, in the year 2017, Boral Limited has registered a huge
amount of cash inflow from the financing activities that is $3107 million in 2017. The prime
reason for this increase in cash outflow is huge amount of capital rising and with the huge
proceeds from the borrowings (acquia-prod.boral.com 2018).
Other Comprehensive Income Statement Analysis
Requirement [iii]
As per the statement of comprehensive income of Boral Limited, there are four items
reported in this statement. They are difference in net exchange from translation of foreign
5CORPORATE ACCOUNTING
operation, foreign currency translation reserve, adjustment of fair value on cash flow hedge and
income tax on these items (acquia-prod.boral.com 2018). These items are discussed below.
Requirement [iv]
At the time to conduct the business operations, the business entities have to deal with the
foreign exchange rates. At the same time, the business entities have to face the risk of foreign
exchange. Due to this factor, the business organizations are required to take into consideration
the exchange difference from the foreign operations (Scott 2015).
It needs to be mentioned that the business organizations have to involve in the transaction
of foreign currency at the time of consolidation. For this reason, the requirement for the business
entities is to convert the foreign currency into the financial reporting currency. In the presence of
these reasons, the business organizations use the foreign currency translation reserve so that they
can convert the foreign currency into the reporting currency while consolidations take place. It
also helps in the translation of profit or loss in the reporting currency (May 2013).
The use of fair value hedge can be seen by the business organizations in order to
compensate the change in fair value of an existing asset or liability of the business organizations.
This specific tools help in the business organizations to minimize or terminate the exposure
related to the change in fair value of the assets or liabilities (Warren and Jones 2018).
It is required for the business organizations to take into consideration the tax imposed
related to the above-discussed items. For this reason, it is required for the companies to record
this taxation in the statement of other comprehensive income (Henderson et al. 2015).
operation, foreign currency translation reserve, adjustment of fair value on cash flow hedge and
income tax on these items (acquia-prod.boral.com 2018). These items are discussed below.
Requirement [iv]
At the time to conduct the business operations, the business entities have to deal with the
foreign exchange rates. At the same time, the business entities have to face the risk of foreign
exchange. Due to this factor, the business organizations are required to take into consideration
the exchange difference from the foreign operations (Scott 2015).
It needs to be mentioned that the business organizations have to involve in the transaction
of foreign currency at the time of consolidation. For this reason, the requirement for the business
entities is to convert the foreign currency into the financial reporting currency. In the presence of
these reasons, the business organizations use the foreign currency translation reserve so that they
can convert the foreign currency into the reporting currency while consolidations take place. It
also helps in the translation of profit or loss in the reporting currency (May 2013).
The use of fair value hedge can be seen by the business organizations in order to
compensate the change in fair value of an existing asset or liability of the business organizations.
This specific tools help in the business organizations to minimize or terminate the exposure
related to the change in fair value of the assets or liabilities (Warren and Jones 2018).
It is required for the business organizations to take into consideration the tax imposed
related to the above-discussed items. For this reason, it is required for the companies to record
this taxation in the statement of other comprehensive income (Henderson et al. 2015).
6CORPORATE ACCOUNTING
Requirement [v]
It needs to be mentioned that the business organizations use other comprehensive income
statement in order to provide a holistic picture of the profitability of the business organizations.
For this reason, this particulate statement is considered as a statement that provides a diversified
picture of the net income and other income of the company. Moreover, this incomes and
expenses are not distributed to the shareholders. For all these reason, these items do not come in
the income statement or the profit or loss statement (Sharma and Panigrahi 2013).
Accounting for Corporate Income Tax Analysis
Requirement [vi]
According to the Australian taxation law, Boral Limited is needed to carry on their
taxation operation based on 30% tax rate. According to the annual report of Boral Limited, $51.4
million and $35.6 million are the taxation expenses for the company in the year 2017 and 2016
(acquia-prod.boral.com 2018).
Requirement [vii]
It needs to be mentioned that the above-mentioned taxation expense is not same as the
company tax rate times of Boral Limited’s accounting income. Difference can be seen in the tax
rate of Boral Limited and their subsidiary companies (acquia-prod.boral.com 2018). Thus, the
adjustment of different tax rates is one of the reasons for the difference. The amounts of non-
deductible depreciation and amortization is the next reason as the taxation expenses related to
these items is required to be adjusted with the tax rate taxation expenses (acquia-prod.boral.com
2018). After that, in the presence of non-deductable asset impairment and write-downs, Boral
Limited has the obligation to adjust them with the taxation expenses and it leads to the
Requirement [v]
It needs to be mentioned that the business organizations use other comprehensive income
statement in order to provide a holistic picture of the profitability of the business organizations.
For this reason, this particulate statement is considered as a statement that provides a diversified
picture of the net income and other income of the company. Moreover, this incomes and
expenses are not distributed to the shareholders. For all these reason, these items do not come in
the income statement or the profit or loss statement (Sharma and Panigrahi 2013).
Accounting for Corporate Income Tax Analysis
Requirement [vi]
According to the Australian taxation law, Boral Limited is needed to carry on their
taxation operation based on 30% tax rate. According to the annual report of Boral Limited, $51.4
million and $35.6 million are the taxation expenses for the company in the year 2017 and 2016
(acquia-prod.boral.com 2018).
Requirement [vii]
It needs to be mentioned that the above-mentioned taxation expense is not same as the
company tax rate times of Boral Limited’s accounting income. Difference can be seen in the tax
rate of Boral Limited and their subsidiary companies (acquia-prod.boral.com 2018). Thus, the
adjustment of different tax rates is one of the reasons for the difference. The amounts of non-
deductible depreciation and amortization is the next reason as the taxation expenses related to
these items is required to be adjusted with the tax rate taxation expenses (acquia-prod.boral.com
2018). After that, in the presence of non-deductable asset impairment and write-downs, Boral
Limited has the obligation to adjust them with the taxation expenses and it leads to the
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7CORPORATE ACCOUNTING
difference. Benefits related to the vesting of the rights of share acquisition can be mentioned as
another reason for the difference (acquia-prod.boral.com 2018).
Requirement [viii]
As per the financial statements of Boral Limited, $128.5 million and $237.4 million are
the deferred tax assets of the company in the years 2017 and 2016 respectively (acquia-
prod.boral.com 2018). As per the notes to the financial statements of Boral Limited, the main
reason for the company behind the reporting of deferred tax assets is the probability of the
availability of future taxable profit from the sales of the assets of the entity. On the other hand, it
can be found from the notes that the company records deferred tax liabilities due to the fact that
there is probability of the future outflow of losses or cash from the sales of the assets (acquia-
prod.boral.com 2018).
Requirement [ix]
There is not any current tax asset of Boral Limited in the years 2017 and 2016. However,
$64.1 million and $36.6 million are the current tax liabilities of Boral Limited in the years 2017
and 2016 respectively (acquia-prod.boral.com 2018). Difference can be seen in the income tax
expenses and income tax payable. Boral Limited carries out the computation of income tax
expenses on the basis of the current year’s income, but the calculation of income tax payable is
done on the basis of the last year’s income (acquia-prod.boral.com 2018). At the same time, the
obligation for the payment of income tax expenses is in the current year whereas the obligation
for the payment of income tax payable is in the next financial year. These are the main reasons
for difference.
difference. Benefits related to the vesting of the rights of share acquisition can be mentioned as
another reason for the difference (acquia-prod.boral.com 2018).
Requirement [viii]
As per the financial statements of Boral Limited, $128.5 million and $237.4 million are
the deferred tax assets of the company in the years 2017 and 2016 respectively (acquia-
prod.boral.com 2018). As per the notes to the financial statements of Boral Limited, the main
reason for the company behind the reporting of deferred tax assets is the probability of the
availability of future taxable profit from the sales of the assets of the entity. On the other hand, it
can be found from the notes that the company records deferred tax liabilities due to the fact that
there is probability of the future outflow of losses or cash from the sales of the assets (acquia-
prod.boral.com 2018).
Requirement [ix]
There is not any current tax asset of Boral Limited in the years 2017 and 2016. However,
$64.1 million and $36.6 million are the current tax liabilities of Boral Limited in the years 2017
and 2016 respectively (acquia-prod.boral.com 2018). Difference can be seen in the income tax
expenses and income tax payable. Boral Limited carries out the computation of income tax
expenses on the basis of the current year’s income, but the calculation of income tax payable is
done on the basis of the last year’s income (acquia-prod.boral.com 2018). At the same time, the
obligation for the payment of income tax expenses is in the current year whereas the obligation
for the payment of income tax payable is in the next financial year. These are the main reasons
for difference.
8CORPORATE ACCOUNTING
Requirement [x]
$51.4 million and $35.6 million are Boral Limited’s income statement income tax
expenses for the years 2017 and 2016; whereas $41.8 million and $69.4 million are Boral
Limited’s cash flow income tax expenses (acquia-prod.boral.com 2018). Hence, there is not any
resemblance in them. Taxation expenses in the cash flow are the current year’s tax expenses that
Boral Limited computes on the current year’s expenses (acquia-prod.boral.com 2018). Thus, the
payment needs to be made on the current year. On the other hand, taxation exposes in the cash
flow statement of Boral Limited is the payment of taxation that can be either tax payable from
the last year or the advance payment of income tax or the both. For these reason, differences can
be seen in the income tax expenses in the income statement and payment of income tax in the
statement of cash flows (acquia-prod.boral.com 2018).
Requirement [xi]
By observing the taxation accounting of Boral Limited, one can gain deep understanding
about the tax treatment of different aspects by the large business corporations like the treatment
of deferred tax assets, current tax payable, income tax payable and many others. It needs to be
mentioned that Boral Limited complies with all the rules of Australian taxation law at the time to
carry on the taxation operations of them. At the same time, the company provides all the required
clarification as well as justification about their taxation treatments in the notes to the financial
statements. For this reason, it is hard to find any confusing or surprising factor in the taxation
accounting of Boral Limited.
Requirement [x]
$51.4 million and $35.6 million are Boral Limited’s income statement income tax
expenses for the years 2017 and 2016; whereas $41.8 million and $69.4 million are Boral
Limited’s cash flow income tax expenses (acquia-prod.boral.com 2018). Hence, there is not any
resemblance in them. Taxation expenses in the cash flow are the current year’s tax expenses that
Boral Limited computes on the current year’s expenses (acquia-prod.boral.com 2018). Thus, the
payment needs to be made on the current year. On the other hand, taxation exposes in the cash
flow statement of Boral Limited is the payment of taxation that can be either tax payable from
the last year or the advance payment of income tax or the both. For these reason, differences can
be seen in the income tax expenses in the income statement and payment of income tax in the
statement of cash flows (acquia-prod.boral.com 2018).
Requirement [xi]
By observing the taxation accounting of Boral Limited, one can gain deep understanding
about the tax treatment of different aspects by the large business corporations like the treatment
of deferred tax assets, current tax payable, income tax payable and many others. It needs to be
mentioned that Boral Limited complies with all the rules of Australian taxation law at the time to
carry on the taxation operations of them. At the same time, the company provides all the required
clarification as well as justification about their taxation treatments in the notes to the financial
statements. For this reason, it is hard to find any confusing or surprising factor in the taxation
accounting of Boral Limited.
9CORPORATE ACCOUNTING
References
Acquia-prod.boral.com. (2018). [online] Available at:
http://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2017.pdf [Accessed 25 May 2018].
Acquia-prod.boral.com. (2018). [online] Available at:
http://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2015.pdf [Accessed 25 May 2018].
Acquia-prod.boral.com. (2018). [online] Available at:
https://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2016.pdf [Accessed 25 May 2018].
Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting.
Pearson Higher Education AU.
May, G.O., 2013. Financial accounting. Read Books Ltd.
Scott, W.R., 2015. Financial accounting theory (Vol. 2, No. 0, p. 0). Prentice Hall.
Sharma, A. and Panigrahi, P.K., 2013. A review of financial accounting fraud detection based on
data mining techniques. arXiv preprint arXiv:1309.3944.
Warren, C.S. and Jones, J., 2018. Corporate financial accounting. Cengage Learning.
References
Acquia-prod.boral.com. (2018). [online] Available at:
http://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2017.pdf [Accessed 25 May 2018].
Acquia-prod.boral.com. (2018). [online] Available at:
http://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2015.pdf [Accessed 25 May 2018].
Acquia-prod.boral.com. (2018). [online] Available at:
https://acquia-prod.boral.com/sites/corporate/files/media/field_document/Boral-Annual-Report-
2016.pdf [Accessed 25 May 2018].
Henderson, S., Peirson, G., Herbohn, K. and Howieson, B., 2015. Issues in financial accounting.
Pearson Higher Education AU.
May, G.O., 2013. Financial accounting. Read Books Ltd.
Scott, W.R., 2015. Financial accounting theory (Vol. 2, No. 0, p. 0). Prentice Hall.
Sharma, A. and Panigrahi, P.K., 2013. A review of financial accounting fraud detection based on
data mining techniques. arXiv preprint arXiv:1309.3944.
Warren, C.S. and Jones, J., 2018. Corporate financial accounting. Cengage Learning.
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