Corporate Accounting: Debt Evaluation and Owner's Equity

Corporate
Accounting
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Executive summary
The report consists of several levels of disclosures that are needed to be assessed by the
managers of the organization while making the financial accounts of the company. A
comparison has also been made in order to understand the debt evaluation of four ASX listed
public companies in order to analyze their balance sheet and income statements for the past
few years. A basic understanding of owner’s equity will also be presented in the report.
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Contents
Introduction................................................................................................................................4
Corporate regulations.................................................................................................................5
Accounting Standard Setting......................................................................................................6
Owner’s equity...........................................................................................................................7
Debt evaluation........................................................................................................................10
Conclusion................................................................................................................................12
Bibliography.............................................................................................................................13
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Introduction
One of the most important objectives of the manager of an organization is to prepare the
financial reports of an organization with the best possible facts. With the change in time, it
has been observed that the reliance of companies on the financial reports has increased the
value of ascertaining the level of disclosures. Therefore, it is very important for the manager
of the organization to assess the extent to which the essential private information of the
organization can be disclosed. A basic understanding of the International Financial Reporting
System (IFRS) and the Australian Accounting Standards Board (AASB) will be presented in
the report to shed light on the corporate regulations that are needed to be practiced by the
organization while making disclosures. The debt evaluation of organizations can also be
understood with the help of comparison made between four listed public companies of
Australia, all of them belonging to the Mining industry.
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