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Corporate Accounting: PDF

   

Added on  2020-12-10

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CORPORATE ACCOUNTING

Executive SummaryFinance is required in the corporate world in order to attain operational activities. Thefinancial health of two ASX listed firms that is Bapcor Limited and Beacon Lighting GroupLimited is evaluated for last three years with regards to annual reports. The cash flow statements,income statements and balance sheet are assessed from various perspectives and results areaccomplished thereof. Financial health of two companies are compared for assessingprofitability, liquidity and efficiency position.

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1OWNER'S EQUITY........................................................................................................................21. Representing each item of equity with its changes over past year of both organizations.......22. Representing comparative analysis of capital structure of both organization ........................3CASH FLOWS STATEMENT.......................................................................................................53. List out each item reported in cash flows statement and discussing reasons for change inpast years.....................................................................................................................................54. Comparative analysis of cash flow activities over past years.................................................65. Providing comparative analysis of two listed organisations...................................................8OTHER COMPREHENSIVE INCOME STATEMENT................................................................96. Items reported in other comprehensive income statement for both companies......................97. Stating reasons for not including items of Other Comprehensive Income in Profit and lossstatements....................................................................................................................................98. Providing comparative analysis of organisations of items in other comprehensive income statement and discussing any change if it were included in income statement.............99. Other comprehensive income must be considered for process of performance evaluation ornot?............................................................................................................................................11ACCOUNTING FOR CORPORATE INCOME TAX..................................................................1210. Representing the latest tax expense of both organizations..................................................1211. Representing effective tax rate of both companies.............................................................1212. Comment on deferred tax asset and liability stated in statement of financial position.......1213. Representing change in deferred tax asset and liability (DTA and DTL) reported througheach organization .....................................................................................................................1314. Representing Cash tax amount............................................................................................1415. Representing Cash tax rate..................................................................................................1416. Why cash tax rate is different from book tax rate...............................................................15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16

INTRODUCTIONCorporate accounting is referred as special branch of accounting which is used forpreparing financial statements and accounting objective. The present study would be discussingabout Owner's equity with its changes from past three executive years. In the similar aspect, itwill articulate about each element of cash flow statement with proper classification of threebroad categories that is investing, finance and operating activities. It will state major elements ofother comprehensive income statement as it would depict importance and measures forperformance evaluation. Further, it will state accounting for corporate income tax and reflecteffective tax rate. All these specified contexts are performed on basis of retailing industry asBapcor and Beacon Lighting Group Limited.OWNER'S EQUITY1. Representing each item of equity with its changes over past year of both organizationsContributed equity: It is an agreement among two or more parties who are agreeing forpooling certain cash, capital and other assets for conducting `business in equity exchange.Reserves: These are part of stockholder's equity as this amount is retained throughbusiness not with its owners (Dyreng and et.al, 2017).Retained earnings: It is proportion of business profit which is not distributed to itsshareholders as dividends but reserved for reinvestment purpose in business itself.Non-controlling interest: It is also referred as minority interest where position ofownership has been owned by less than 505 outstanding shares with absence of controlon decisions.Beacon Lighting Group Limited20152016% changein 201620162017% change in2017Contributedequity62647627350.14%62735628700.22%Otherreserves-42847-431050.60%-43105-42965-0.32%Retainedearning296063779327.65%377934421316.99%Total Equity494065742316.23%574236411811.66%1

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