Corporate Accounting

Corporate Accounting

Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Question 1...................................................................................................................................................3
Question 2...................................................................................................................................................5
Question 3...................................................................................................................................................7
Question 4...................................................................................................................................................9
Question 5.................................................................................................................................................12
Question 6.................................................................................................................................................13
CONCLUSION.........................................................................................................................................15
REFERENCES..........................................................................................................................................16

INTRODUCTION
Corporate accounting is a special accounting method for companies that identify
corporate accounts and file final estimates and a report on cash flow (Habib and Hasan, 2019). It
also helps to track and calculate company financial reports and to account for particular
incidents, such as financial statements merger, merger and filing. Additional corporate
accounting allows management, by multiple financial reporting, to make successful or
productive decisions that encourage more prospective customers to spend and to reveal their
financial status. This measure is based on many kinds of queries, all of which apply to purchase,
division of securities, taxable income measurement, journal entry reports of various transactions.
Moreover, it also provides a description of non-controlling rights, such as how intra-group
transfers can be measured, reported or influenced. This evaluation also contains the consolidated
worksheet with it.
MAIN BODY
Question 1
(a) Calculate the taxable profit

Jaguar Ltd’s taxes benefit for the 2017 year is $204,000 and the gross rate of income due is
$61,200. Profit after tax is $142,800 received in the 2017 period by the firm.
(b) Determine the deferred tax liability or deferred tax asset that will result.
Deferred tax assets- It is a balance sheet item arising from the additional imposition of
dividends or actually received. That is the equivalent of the depreciation expense, which will be
the tax owed on profits.
Deferred tax liability- It normally happens as fixed investments are dropped in value, profits
and inventory levels are remembered and priced (Skouloudis, Malesios and Dimitrakopoulos,
2019). For instance, once the payment is actually made, the money due on the current credit
balance cannot be paid, but the payment must be reported during the present timeframe.