Consolidated Financial Statements - Assignment

Added on - 12 Nov 2020

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CONSOLIDATEDSTATEMENTS-ACCOUNTING
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1QUESTION 4...................................................................................................................................1Consolidated statement of cash flows....................................................................................1Reconciliation of net cash provided in operating activities....................................................2Note to disclose the acquisition of Flake Pty Ltd...................................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONTo prepare a consolidated statement which is consists of all financial details of various peercompanies to an organisation has been stated in a single statement. Thus, it present s the overallwealth a financial health of the organisation. In the present report there will be preparation ofvarious consolidates statement of Snow Ltd Group with considering the acquisition of Flake PtyLtd. It will include consolidates cash flow statement, reconciliation of net cash from operationsas well as a note to disclose the acquisition etc.QUESTION 4Consolidated statement of cash flowsConsolidated Cash flow statement(Consolidated Cash Flow Statement, 2016).Particulars2018Cashflow from operating activitiesProfit before tax121000Depreciation on building5000Depreciation on Equipment4000profit on sale of land509000loss on sale of equipment1000Dividend income25000Employee stock options120000Doubtful debts5000Other operating expenses8000Operating profit before working capital798000Decrease in inventories2000Decrease in trade receivables7000Increase in trade payables-3000Decrease in bank overdraft69000Increase in income tax payable-3000Increase in Long term loans-40000Increase in deferred tax liability-15000Cash gathered from operating activities815000less: tax (30%)244500Net cash from operating activity570500Cash flow from investing activityprofit on sale of land509000cash payment on acquiring 100% shares of Flake Ltd33000Interim dividend250001
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