Financial Statements Analysis Example
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AI Summary
This assignment presents a solved example of financial statement analysis. It breaks down the components of a company's balance sheet, showcasing Non-Current Liabilities, Total Liabilities, Shareholder's Equity, and finally, the Total Liabilities & Equity. The example provides specific dollar values for each category, offering a clear illustration of how to interpret and present financial information.
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Running head: CORPORATE ACCOUNTING
Corporate accounting
Name of the University
Name of the student
Authors note
Corporate accounting
Name of the University
Name of the student
Authors note
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1CORPORATE ACCOUNTING
Answer to question 1:
Requirement a):
Worksheet for Current Tax Liability/(Refundable):
Particulars Amount Amount
Accounting profit before tax $6,50,000
Add:
Warranty Expenses $90,000
Bad & Doubtful Debts $25,000
Depreciation Expense for accounting
purpose
$60,000
$1,75,000
$8,25,000
Less:
Actual Warranty Expense paid $70,000
Actual Bad Debt Written off $15,000
Depreciation Expense for Tax
Purpose
$1,00,000 $1,85,000
Taxable income $6,40,000
Tax on taxable income @30% $1,92,000
Current Tax Liability $1,92,000
Answer to question 1:
Requirement a):
Worksheet for Current Tax Liability/(Refundable):
Particulars Amount Amount
Accounting profit before tax $6,50,000
Add:
Warranty Expenses $90,000
Bad & Doubtful Debts $25,000
Depreciation Expense for accounting
purpose
$60,000
$1,75,000
$8,25,000
Less:
Actual Warranty Expense paid $70,000
Actual Bad Debt Written off $15,000
Depreciation Expense for Tax
Purpose
$1,00,000 $1,85,000
Taxable income $6,40,000
Tax on taxable income @30% $1,92,000
Current Tax Liability $1,92,000
2CORPORATE ACCOUNTING
Requirement b):
Base
Particulars Accounting Tax
Computer-at Cost $3,00,000 $3,00,000
Useful Life (in years) 5 3
Depreciation Expenses p.a. $60,000 $1,00,000
Period of Utilization (in years) 1 1
Accumulated Depreciation $60,000 $1,00,000
Equipment (net Value) $2,40,000 $2,00,000
Requirement c):
Deferred Tax Worksheet:
Particulars Carrying
Amount
Tax Base Taxable
Temp’y
Diffs
Deductible
Temp’y Diffs
$ $ $ $
Assets
Computer-at Cost $3,00,000 $3,00,000
Accumulated
Depreciation
($60,000) ($1,00,000
)
($40,000)
Accounts Receivable $1,00,000 $1,00,000 $0
Allowance for Doubtful
Debts
($10,000) $10,000
Requirement b):
Base
Particulars Accounting Tax
Computer-at Cost $3,00,000 $3,00,000
Useful Life (in years) 5 3
Depreciation Expenses p.a. $60,000 $1,00,000
Period of Utilization (in years) 1 1
Accumulated Depreciation $60,000 $1,00,000
Equipment (net Value) $2,40,000 $2,00,000
Requirement c):
Deferred Tax Worksheet:
Particulars Carrying
Amount
Tax Base Taxable
Temp’y
Diffs
Deductible
Temp’y Diffs
$ $ $ $
Assets
Computer-at Cost $3,00,000 $3,00,000
Accumulated
Depreciation
($60,000) ($1,00,000
)
($40,000)
Accounts Receivable $1,00,000 $1,00,000 $0
Allowance for Doubtful
Debts
($10,000) $10,000
3CORPORATE ACCOUNTING
Liabilities
Provision for Warranties $30,000 $30,000
Provision for Employee
Benefits
$20,000 $20,000
Total Temporary
differences
$0 $20,000
Deferred tax liability
(30%)
$0
Deferred tax asset
(30%)
$6,000
Requirement d):
In the books of ShouldBeMyOwnWork Ltd.
Journal Entries
Dr. Cr.
Date Particulars Amount Amount
30/06/2017 Income Tax Expense A/c. Dr. $1,92,000
To, Current Tax Liability A/c.
$1,92,00
0
(Being Income tax expenses due on Taxable Income)
Deferred Tax Assets A/c. Dr. $6,000
To, Income Tax Expense A/c. $6,000
(Being deferred tax assets recorded)
Liabilities
Provision for Warranties $30,000 $30,000
Provision for Employee
Benefits
$20,000 $20,000
Total Temporary
differences
$0 $20,000
Deferred tax liability
(30%)
$0
Deferred tax asset
(30%)
$6,000
Requirement d):
In the books of ShouldBeMyOwnWork Ltd.
Journal Entries
Dr. Cr.
Date Particulars Amount Amount
30/06/2017 Income Tax Expense A/c. Dr. $1,92,000
To, Current Tax Liability A/c.
$1,92,00
0
(Being Income tax expenses due on Taxable Income)
Deferred Tax Assets A/c. Dr. $6,000
To, Income Tax Expense A/c. $6,000
(Being deferred tax assets recorded)
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4CORPORATE ACCOUNTING
Profit & loss A/c. $1,86,000
To, Income Tax Expense A/c.
$1,86,00
0
(Being income tax expense transferred to P/L A/c.)
Answer to question 2:
It is certainly possible that an employer can treat payment made to employees an asset
and this can be explained with the help of an illustration. According to paragraph 13 of AASB
30, an entitlement to employees that are payable that results in future economic benefits gets
qualified as asset recognition rather than expenses (aasb.gov.au 2017). Suppose, when
inventories are measured at system of historical costs requires inclusion of wages and salaries.
This is so because an asset embodies cost of future economic benefits as it is represented by
work in progress (Kravet 2014). Until the work in progress is converted into finished goods and
subsequently sold, there will not be occurrence of any expenses.
The payment made to employees should be separately recognized as assets and liabilities
for employers to meet their long service leave obligations to employees. Amount that is expected
to be reimbursed by such schemes should be recognized as assets. If employer has made any
advance to employees, then they expect to get it paid back within time period of less than a year
and such advance is treated as current assets. Advance made to employees appears as employee
advances or other receivables under the balance sheet (Nichols et al. 2017). Advance made to
employees are treated as assets and the possible journal entry are as follows:
Profit & loss A/c. $1,86,000
To, Income Tax Expense A/c.
$1,86,00
0
(Being income tax expense transferred to P/L A/c.)
Answer to question 2:
It is certainly possible that an employer can treat payment made to employees an asset
and this can be explained with the help of an illustration. According to paragraph 13 of AASB
30, an entitlement to employees that are payable that results in future economic benefits gets
qualified as asset recognition rather than expenses (aasb.gov.au 2017). Suppose, when
inventories are measured at system of historical costs requires inclusion of wages and salaries.
This is so because an asset embodies cost of future economic benefits as it is represented by
work in progress (Kravet 2014). Until the work in progress is converted into finished goods and
subsequently sold, there will not be occurrence of any expenses.
The payment made to employees should be separately recognized as assets and liabilities
for employers to meet their long service leave obligations to employees. Amount that is expected
to be reimbursed by such schemes should be recognized as assets. If employer has made any
advance to employees, then they expect to get it paid back within time period of less than a year
and such advance is treated as current assets. Advance made to employees appears as employee
advances or other receivables under the balance sheet (Nichols et al. 2017). Advance made to
employees are treated as assets and the possible journal entry are as follows:
5CORPORATE ACCOUNTING
Debit Credit
Other receivables A/c 3000
Cash/ Bank 3000
Answer to question 3:
Scenario a):
Masthead for the newspaper of Nt News On the Go that is regarded as the valuable
assets. This particular item is internally developed by organization and it is believed by the
management that they can sell it for $ 3 million. In this particular case, since the product or item
is developed internally, revaluation of such asset is not required.
Scenario b):
Purchasing of publishing tile two years ago by John Wiley and sons is an intangible asset.
It is believed by the management of organization that such book can be sold at $ 1.5 million and
it can fetch profit. Therefore, there is no need to revalue such assets. However, they can be
recognized by management.
Scenario c) and d):
These two scenarios require the asset revaluation and the journal entries for the same are
provided in the table below.
Date Particulars Amount Amount
Debit Credit
Other receivables A/c 3000
Cash/ Bank 3000
Answer to question 3:
Scenario a):
Masthead for the newspaper of Nt News On the Go that is regarded as the valuable
assets. This particular item is internally developed by organization and it is believed by the
management that they can sell it for $ 3 million. In this particular case, since the product or item
is developed internally, revaluation of such asset is not required.
Scenario b):
Purchasing of publishing tile two years ago by John Wiley and sons is an intangible asset.
It is believed by the management of organization that such book can be sold at $ 1.5 million and
it can fetch profit. Therefore, there is no need to revalue such assets. However, they can be
recognized by management.
Scenario c) and d):
These two scenarios require the asset revaluation and the journal entries for the same are
provided in the table below.
Date Particulars Amount Amount
6CORPORATE ACCOUNTING
c) Franchise A/c. $1,00,000
Asset Revaluation
Reserve A/c.
$1,00,000
d) Deferred Development
Cost A/c.
$3,40,000
Asset Revaluation
Reserve A/c.
$3,40,000
In scenario c, a franchisee for an ice cream is acquired by Booze your Juice ltd. The
current market price of such franchise is more than the cost at which it was acquired because of
their great demand. In this case, it is required by Booze your Juice ltd to revalue their franchise
asset.
In scenario d, deferred development cost is by DJB Limited and there is estimation of
recoverable amount of development cost. In such situation, revaluation is required to be done by
DJB Limited.
Answer to question 4:
Situation a):
In this situation, ACT305 group owns 60% of shares of ACT503 Ltd and they were
running business successfully. An investor needs to have existing rights so that they are able to
direct the relevant activities of investee to have power over an investee. Here, ACT305 has taken
loan on agreement that it will be monitoring activities of company for obtaining loan repayment.
c) Franchise A/c. $1,00,000
Asset Revaluation
Reserve A/c.
$1,00,000
d) Deferred Development
Cost A/c.
$3,40,000
Asset Revaluation
Reserve A/c.
$3,40,000
In scenario c, a franchisee for an ice cream is acquired by Booze your Juice ltd. The
current market price of such franchise is more than the cost at which it was acquired because of
their great demand. In this case, it is required by Booze your Juice ltd to revalue their franchise
asset.
In scenario d, deferred development cost is by DJB Limited and there is estimation of
recoverable amount of development cost. In such situation, revaluation is required to be done by
DJB Limited.
Answer to question 4:
Situation a):
In this situation, ACT305 group owns 60% of shares of ACT503 Ltd and they were
running business successfully. An investor needs to have existing rights so that they are able to
direct the relevant activities of investee to have power over an investee. Here, ACT305 has taken
loan on agreement that it will be monitoring activities of company for obtaining loan repayment.
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7CORPORATE ACCOUNTING
In this case, for evaluating the rights of bank to exercise power, they are required to assess
whether the rights are protective rights. This is related with making fundamental changes in
activities of organization and it is a situation of protective rights that is applicable in exceptional
circumstances (Aasb 2014). Therefore, control is exercised by banks in form of protective rights.
As per paragraph 12, investors having protective rights do not have power and consequently
cannot control ACT503 Ltd According to paragraph B28 of AASB 10, bank has a right to seize
the assets of ACT305 as it is failing to meet loan repayment conditions.
Situation b):
In this situation, GyK Pty limited has not been efficient in producing quality materials
and all the assets have been possessed by banks and all debt are converted into equity.
Inefficiency of GyK Pty limited compared to their competitors have led to the acquisition of all
assets by banks and two seats in board of directors. It is indicated that they have appointed two
directors of banks.
Here, bank doe have majority of voting rights and it can exercise power as they have all
the possession of assets and liabilities of organization. Therefore, as per paragraph B 15 of
AASB 10, banks are given the power in the form of voting rights and control of business concern
(aasb.gov.au 2017).
Situation c):
In this particular situation, the majority of shares of Investment Co Pty Limited is owned
by ACT 502 Ltd and smaller shareholdings by other member. Furthermore, they have two non-
executive seats and they are active in attending annual general meeting of company. Such
directors are not involved in managing day-to-day activities but they have a say in decision
In this case, for evaluating the rights of bank to exercise power, they are required to assess
whether the rights are protective rights. This is related with making fundamental changes in
activities of organization and it is a situation of protective rights that is applicable in exceptional
circumstances (Aasb 2014). Therefore, control is exercised by banks in form of protective rights.
As per paragraph 12, investors having protective rights do not have power and consequently
cannot control ACT503 Ltd According to paragraph B28 of AASB 10, bank has a right to seize
the assets of ACT305 as it is failing to meet loan repayment conditions.
Situation b):
In this situation, GyK Pty limited has not been efficient in producing quality materials
and all the assets have been possessed by banks and all debt are converted into equity.
Inefficiency of GyK Pty limited compared to their competitors have led to the acquisition of all
assets by banks and two seats in board of directors. It is indicated that they have appointed two
directors of banks.
Here, bank doe have majority of voting rights and it can exercise power as they have all
the possession of assets and liabilities of organization. Therefore, as per paragraph B 15 of
AASB 10, banks are given the power in the form of voting rights and control of business concern
(aasb.gov.au 2017).
Situation c):
In this particular situation, the majority of shares of Investment Co Pty Limited is owned
by ACT 502 Ltd and smaller shareholdings by other member. Furthermore, they have two non-
executive seats and they are active in attending annual general meeting of company. Such
directors are not involved in managing day-to-day activities but they have a say in decision
8CORPORATE ACCOUNTING
making. Other shareholders have less voting rights as compared to ACT 502 Ltd and remaining
three seats of board of directors are owned by other shareholders (Schaltegger et al. 2015). In
such scenario, ACT 502 Ltd is likely to meet the control and power criterion and there is a
possibility that control exist.
Situation d):
In this particular scenario, there are two owners of S limited having equal share of
shareholdings that is B1 Ltd and B2 Ltd. An investor is required to consider its potential voting
rights and voting rights that are held by other parties for determining power and assessing
control. Potential voting rights in this case are rights that arise from options or any convertible
investments according to paragraph B 47 of AASB 10 (aasb.gov.au 2017). B1 Limited is
actively engage in managing relevant activities of S ltd business such as appointment of
managing director. B1 limited has the likelihood of meeting criteria of exercising power and
thereby control. Furthermore, additional voting rights can be purchased by B1 by exercising
options and options terms and conditions are in such a way that they should not be considered
substantive in accordance with paragraph B23. Determination of whether rights are substantive
should take into considerations all circumstances and facts and it requires judgment (Khaddafi et
al. 2015).
Situation e):
Chaitime tea limited are owned by two shareholders that is Boost Juice Limited having
51% of shares and Trampoline limited having 49% of shares held by them. However, trampoline
Ltd owns more than two seats in board of directors and they are involved in running the
company while Boost Juice being a passive shareholder. As mentioned in paragraph B19 of
making. Other shareholders have less voting rights as compared to ACT 502 Ltd and remaining
three seats of board of directors are owned by other shareholders (Schaltegger et al. 2015). In
such scenario, ACT 502 Ltd is likely to meet the control and power criterion and there is a
possibility that control exist.
Situation d):
In this particular scenario, there are two owners of S limited having equal share of
shareholdings that is B1 Ltd and B2 Ltd. An investor is required to consider its potential voting
rights and voting rights that are held by other parties for determining power and assessing
control. Potential voting rights in this case are rights that arise from options or any convertible
investments according to paragraph B 47 of AASB 10 (aasb.gov.au 2017). B1 Limited is
actively engage in managing relevant activities of S ltd business such as appointment of
managing director. B1 limited has the likelihood of meeting criteria of exercising power and
thereby control. Furthermore, additional voting rights can be purchased by B1 by exercising
options and options terms and conditions are in such a way that they should not be considered
substantive in accordance with paragraph B23. Determination of whether rights are substantive
should take into considerations all circumstances and facts and it requires judgment (Khaddafi et
al. 2015).
Situation e):
Chaitime tea limited are owned by two shareholders that is Boost Juice Limited having
51% of shares and Trampoline limited having 49% of shares held by them. However, trampoline
Ltd owns more than two seats in board of directors and they are involved in running the
company while Boost Juice being a passive shareholder. As mentioned in paragraph B19 of
9CORPORATE ACCOUNTING
AASB 10, that an investor has the possibility of being more than passive interest in any
organization. It does not indicate that criteria of exercising power are met. There needs to be
other related rights that should give then power to exercise control, and consequently controlling
the entity. Trampoline Ltd does not have majority of voting rights and still they can exercise
power according to paragraph B38 of AASB 10. This is so because they are also involved in
running the company by managing their activities that has made the majority shareholders that is
Boost Juice Limited happy.
Situation f):
In this situation, PGH Pty Limited has three shareholders namely P ltd, G Ltd and H Ltd
and all of them have equal shareholdings of 33.3% each. Two investors of PGH Pty Limited that
is P Ltd and H ltd are passive shareholders having one seat in board of directors out of total
three. Other investor that is G ltd is involved in managing day-to-day activities of PGH Pty
Limited along with having one seat in board of director. If an investor has more than passive
relationship with organization or any entity in which they are investing and they might have
special relationship. In such scenario, according to paragraph B-19 of AASB 10, such facts give
them sufficient power to exercise control over investee (Zadek et al. 2013). Therefore, G Ltd
would have sufficient power to control PGH Pty Limited.
Answer to question 5:
Requirement a):
Acquisition Analysis:
Particulars
Carrying
Amount Fair Value
Net Fair
Value
AASB 10, that an investor has the possibility of being more than passive interest in any
organization. It does not indicate that criteria of exercising power are met. There needs to be
other related rights that should give then power to exercise control, and consequently controlling
the entity. Trampoline Ltd does not have majority of voting rights and still they can exercise
power according to paragraph B38 of AASB 10. This is so because they are also involved in
running the company by managing their activities that has made the majority shareholders that is
Boost Juice Limited happy.
Situation f):
In this situation, PGH Pty Limited has three shareholders namely P ltd, G Ltd and H Ltd
and all of them have equal shareholdings of 33.3% each. Two investors of PGH Pty Limited that
is P Ltd and H ltd are passive shareholders having one seat in board of directors out of total
three. Other investor that is G ltd is involved in managing day-to-day activities of PGH Pty
Limited along with having one seat in board of director. If an investor has more than passive
relationship with organization or any entity in which they are investing and they might have
special relationship. In such scenario, according to paragraph B-19 of AASB 10, such facts give
them sufficient power to exercise control over investee (Zadek et al. 2013). Therefore, G Ltd
would have sufficient power to control PGH Pty Limited.
Answer to question 5:
Requirement a):
Acquisition Analysis:
Particulars
Carrying
Amount Fair Value
Net Fair
Value
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10CORPORATE ACCOUNTING
Share Capital $0 $5,00,000
$5,00,00
0
Retained Earnings $0 $2,00,000
$2,00,00
0
Property, Plant & Equipment $4,30,000 $5,30,000
$1,00,00
0
Net Fair Value of Identifiable
Assets & Liabilities A
$8,00,00
0
Purchase Consideration B
$9,00,00
0
Goodwill C=B-A
$1,00,00
0
Requirement b):
In the books of ChallengeMe Pty. Ltd.
Journal Entries
Dr. Cr.
Date Particulars Amount Amount
1 Business Combination Valuation Entries:
1.a
Accumulated Depreciation
A/c. $2,70,000
Property, Plant & Equipment A/c. $1,00,000
Deferred Tax Liability A/c. $51,000
Business Combination Valuation
Reserve A/c. $1,19,000
1.b Profit after Tax A/c. $17,000
Accumulated Depreciation A/c. $17,000
1.c Deferred Tax Liability A/c. $5,100
Profit after Tax A/c. $5,100
Share Capital $0 $5,00,000
$5,00,00
0
Retained Earnings $0 $2,00,000
$2,00,00
0
Property, Plant & Equipment $4,30,000 $5,30,000
$1,00,00
0
Net Fair Value of Identifiable
Assets & Liabilities A
$8,00,00
0
Purchase Consideration B
$9,00,00
0
Goodwill C=B-A
$1,00,00
0
Requirement b):
In the books of ChallengeMe Pty. Ltd.
Journal Entries
Dr. Cr.
Date Particulars Amount Amount
1 Business Combination Valuation Entries:
1.a
Accumulated Depreciation
A/c. $2,70,000
Property, Plant & Equipment A/c. $1,00,000
Deferred Tax Liability A/c. $51,000
Business Combination Valuation
Reserve A/c. $1,19,000
1.b Profit after Tax A/c. $17,000
Accumulated Depreciation A/c. $17,000
1.c Deferred Tax Liability A/c. $5,100
Profit after Tax A/c. $5,100
11CORPORATE ACCOUNTING
1.d Goodwill A/c. $1,00,000
Business Combination Valuation
Reserve A/c. $1,00,000
2 Pre-Acquisition Entries:
30/7/201
8 Share Capital A/c. $5,00,000
Retained Earnings (30/7/2018)
A/c. $2,00,000
Business Combination
Valuation Reserve A/c. $2,00,000
Investment in Beach Ltd. A/c. $9,00,000
3 Goodwill Impairment:
Profit after Tax A/c. $40,000
Accumulated Impairment Loss-
Goodwill A/c. $40,000
4 Interim Dividend:
Profit after Tax A/c. $28,000
Deferred Tax Assets A/c. $12,000
Interim Dividend A/c. $40,000
5 Final Dividend:
5.a Profit after Tax A/c. $35,000
Deferred Tax Assets A/c. $15,000
Final Dividend A/c. $50,000
5.b Dividend Payable A/c. $50,000
Accounts Receivable A/c. $50,000
Requirement c):
1.d Goodwill A/c. $1,00,000
Business Combination Valuation
Reserve A/c. $1,00,000
2 Pre-Acquisition Entries:
30/7/201
8 Share Capital A/c. $5,00,000
Retained Earnings (30/7/2018)
A/c. $2,00,000
Business Combination
Valuation Reserve A/c. $2,00,000
Investment in Beach Ltd. A/c. $9,00,000
3 Goodwill Impairment:
Profit after Tax A/c. $40,000
Accumulated Impairment Loss-
Goodwill A/c. $40,000
4 Interim Dividend:
Profit after Tax A/c. $28,000
Deferred Tax Assets A/c. $12,000
Interim Dividend A/c. $40,000
5 Final Dividend:
5.a Profit after Tax A/c. $35,000
Deferred Tax Assets A/c. $15,000
Final Dividend A/c. $50,000
5.b Dividend Payable A/c. $50,000
Accounts Receivable A/c. $50,000
Requirement c):
12CORPORATE ACCOUNTING
Requirement d):
In the books of ChallengeMe Pty. Ltd.
Balance Sheet
as on 31st June, 2018
Particulars Amount
Current Assets:
Cash $1,20,000
Accounts Receivable $50,000
Inventory $2,63,000
Deferred Tax Assets $27,000
Total Current Assets $4,60,000
Non-Current Assets:
Goodwill $1,00,000
Accumulated Impairment Loss ($40,000)
Land $10,00,000
Property,Plant & Equipment $15,00,000
Requirement d):
In the books of ChallengeMe Pty. Ltd.
Balance Sheet
as on 31st June, 2018
Particulars Amount
Current Assets:
Cash $1,20,000
Accounts Receivable $50,000
Inventory $2,63,000
Deferred Tax Assets $27,000
Total Current Assets $4,60,000
Non-Current Assets:
Goodwill $1,00,000
Accumulated Impairment Loss ($40,000)
Land $10,00,000
Property,Plant & Equipment $15,00,000
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13CORPORATE ACCOUNTING
Accumulated Depreciation ($3,60,000)
Investment in Beach Ltd. $0
Total Non-Current Assets $22,00,000
TOTAL ASSETS $26,60,000
Current Liabilities:
Accounts Payable $1,10,000
Dividends Payable $1,00,000
Deferred Tax Liability $45,900
Total Current Liabilities $2,55,900
Non-Current Liabilities:
Loan $8,10,000
Total Non-Current Liabilities $8,10,000
TOTAL LIABILITIES $10,65,900
Shareholder's Equity:
Share Capital $10,00,000
Retained Earnings $5,75,100
Business Combination Valuation Reserve $19,000
Total Shareholder's Equity $15,94,100
TOTAL LIABILITIES & EQUITY $26,60,000
Accumulated Depreciation ($3,60,000)
Investment in Beach Ltd. $0
Total Non-Current Assets $22,00,000
TOTAL ASSETS $26,60,000
Current Liabilities:
Accounts Payable $1,10,000
Dividends Payable $1,00,000
Deferred Tax Liability $45,900
Total Current Liabilities $2,55,900
Non-Current Liabilities:
Loan $8,10,000
Total Non-Current Liabilities $8,10,000
TOTAL LIABILITIES $10,65,900
Shareholder's Equity:
Share Capital $10,00,000
Retained Earnings $5,75,100
Business Combination Valuation Reserve $19,000
Total Shareholder's Equity $15,94,100
TOTAL LIABILITIES & EQUITY $26,60,000
14CORPORATE ACCOUNTING
References:
AASB, C.A.S., 2014. Business Combinations. Disclosure, 66, p.77.
AASB, C.A.S., 2014. Financial Instruments. Project Summary.
Aasb.gov.au. (2017). [online] Available at:
http://www.aasb.gov.au/admin/file/content105/c9/AASB3_03-08_COMPoct10_01-11.pdf
[Accessed 27 Sep. 2017].
Ben‐Shahar, D., Sulganik, E. and Tsang, D., 2016. Does IFRS 10 on Consolidated Financial
Statements Abandon Accepted Economic Principles?. Australian Accounting Review, 26(4),
pp.341-345.
Carey, P., Potter, B. and Tanewski, G., 2014. AASB Research Report No.
Deegan, C., 2016. Financial accounting. McGraw-Hill Education Australia.
Khaddafi, M., Heikal, M. and Pravita, I., 2015. Analysis of Factors Affecting the Choice of
Corporate Accounting Conservatism. European Journal of Economics, Finance and
Administrative Sciences, (80).
Kravet, T.D., 2014. Accounting conservatism and managerial risk-taking: Corporate
acquisitions. Journal of Accounting and Economics, 57(2), pp.218-240.
Nichols, N., Betancourt, L. and Scott, I., 2017. The FASB Simplifies the Accounting for Share ‐
Based Payments. Journal of Corporate Accounting & Finance, 28(4), pp.8-19.
References:
AASB, C.A.S., 2014. Business Combinations. Disclosure, 66, p.77.
AASB, C.A.S., 2014. Financial Instruments. Project Summary.
Aasb.gov.au. (2017). [online] Available at:
http://www.aasb.gov.au/admin/file/content105/c9/AASB3_03-08_COMPoct10_01-11.pdf
[Accessed 27 Sep. 2017].
Ben‐Shahar, D., Sulganik, E. and Tsang, D., 2016. Does IFRS 10 on Consolidated Financial
Statements Abandon Accepted Economic Principles?. Australian Accounting Review, 26(4),
pp.341-345.
Carey, P., Potter, B. and Tanewski, G., 2014. AASB Research Report No.
Deegan, C., 2016. Financial accounting. McGraw-Hill Education Australia.
Khaddafi, M., Heikal, M. and Pravita, I., 2015. Analysis of Factors Affecting the Choice of
Corporate Accounting Conservatism. European Journal of Economics, Finance and
Administrative Sciences, (80).
Kravet, T.D., 2014. Accounting conservatism and managerial risk-taking: Corporate
acquisitions. Journal of Accounting and Economics, 57(2), pp.218-240.
Nichols, N., Betancourt, L. and Scott, I., 2017. The FASB Simplifies the Accounting for Share ‐
Based Payments. Journal of Corporate Accounting & Finance, 28(4), pp.8-19.
15CORPORATE ACCOUNTING
Schaltegger, S., Etxeberria, I.Á. and Ortas, E., 2017. Innovating Corporate Accounting and
Reporting for Sustainability–Attributes and Challenges. Sustainable Development, 25(2), pp.113-
122.
Uyar, A., 2016. Evolution of corporate reporting and emerging trends. Journal of Corporate
Accounting & Finance, 27(4), pp.27-30.
Zadek, S., Evans, R. and Pruzan, P., 2013. Building corporate accountability: Emerging practice
in social and ethical accounting and auditing. Routledge.
Schaltegger, S., Etxeberria, I.Á. and Ortas, E., 2017. Innovating Corporate Accounting and
Reporting for Sustainability–Attributes and Challenges. Sustainable Development, 25(2), pp.113-
122.
Uyar, A., 2016. Evolution of corporate reporting and emerging trends. Journal of Corporate
Accounting & Finance, 27(4), pp.27-30.
Zadek, S., Evans, R. and Pruzan, P., 2013. Building corporate accountability: Emerging practice
in social and ethical accounting and auditing. Routledge.
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