Corporate Accounting: Process and Importance in Organizations

Running Head: Corporate Accounting
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Project Report: Corporate Accounting

Corporate Accounting
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Executive summary
This report has been prepared in order to identify the process and the importance of
the corporate accounting in an organization. This report mainly concentrates on the recording
and the presentation of various accounting transaction and the figures in the annual report of
the company. In this report, the Myer limited and Kathmandu limited has been taken into
context to measure and identify their corporate accounting process. If an organization does
not focus on the corporate accounting process than the social accountability of the business
becomes lower. All the main figures and the recording has been studied and evaluated in the
report.

Corporate Accounting
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Contents
Introduction.......................................................................................................................5
Company overview...........................................................................................................5
Myer limited.................................................................................................................5
Kathmandu limited.......................................................................................................5
Owner’s equity..................................................................................................................6
i. List of the equity items.........................................................................................6
ii. Debt and equity position......................................................................................7
Cash flow statement..........................................................................................................8
iii. List of the cash flow items...................................................................................8
iv. Comparative analysis.........................................................................................10
v. Comparison........................................................................................................10
Comprehensive income statement..................................................................................11
vi. List of the comprehensive income statement items...........................................11
vii. Why not added in the P&L a/c.......................................................................12
viii. Comparative analysis......................................................................................13
ix. Performance of manager’s evaluation................................................................13
Accounting for corporate income tax.............................................................................13
x. Taxation expenses of the company....................................................................13
xi. Effective tax rate calculations and analysis.......................................................14
xii. Deferred tax assets and liabilities...................................................................14
xiii. Changes in DTA and DTL.............................................................................14
xiv. Calculate of cash tax amount..........................................................................15
xv. Cash tax rate...................................................................................................15

Corporate Accounting
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xvi. Book and cash tax rate....................................................................................16
Conclusion......................................................................................................................16
References.......................................................................................................................17