Corporate Accounting: Comparative Analysis of Aura Energy Limited and Austex Oil Limited

Running head: CORPORATE ACCOUNTING
Corporate Accounting
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CORPORATE ACCOUNTING
Executive summary:
An organization has number of stakeholders who have different interests associated with
the functions of such organization. In order to inform these stakeholders about the financial
performance, position and future plans an organization prepare and issue annual reports to its
stakeholders. In order to evaluate the annual reports of two organizations in real world this would
be a helpful document to the readers. Aura Energy Limited Austex Oil Limited are two entities
whose annual reports shall be evaluated in this document with the objective of assessing the
financial states of both these entities and how the entities have performed in recent years.

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CORPORATE ACCOUNTING
Contents
Executive summary:........................................................................................................................1
Introduction:....................................................................................................................................3
Owners’ equity:...............................................................................................................................3
Comparative analysis of debt and equity position:......................................................................4
Cash flow statement:....................................................................................................................5
Other comprehensive income statement:.........................................................................................9
Accounting for Corporate Income Tax:.........................................................................................11
Conclusion:....................................................................................................................................14
References:....................................................................................................................................15

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CORPORATE ACCOUNTING
Introduction:
Before getting into discussion about the various aspects of the financial statements of
both Aura Energy Limited and Austex Oil Limited it is essential to get a brief introduction about
both these entities. This will provide the readers a frame of reference while assessing the
information about the two entities provide in the annual reports these entities.
Aura Energy Limited is a minerals company based in Australia that lusted its shares in
Australian Securities Exchange (ASX) for the first time in 2006. Since then the company has
made rapid strides to make its own place in minerals industry in Australia, Europe and Africa.
With acquisition of number of projects in Sweden and Mauritania where number of occurrences
of poly-metallic and uranium have taken place, the company has made significant mark in the
minerals industry.
A public company listed as AOK in ASX Austex Oil Limited has specific focus on USA market.
The company has number of projects in USA to explore and develop oil and gas leases in the
country. The company already has number of oil and gas leases in Oklahoma and Kansas. Also
the company has more than 10,500 net acre of oil and gas leases in the Mississippi Lime Play.
Owners’ equity:
Aura Energy Limited:
Issued capital: It represent the amount of share capital issued by the company. For the year
ending in June, 2016 the balance in issued share capital is $32,784,203 with corresponding
balance in the account in the previous year was $31,311,988. The increase is due to the issue of
additional shares during the year net of transaction costs (Tschopp and Huefner, 2015).