corporate financial accounting assignment
14 Pages3451 Words25 Views
Added on 2021-02-20
corporate financial accounting assignment
Added on 2021-02-20
ShareRelated Documents
CORPORATE ANDFINANCIALACCOUNTING
ABSTRACTThe project report summarizes about items included in the owner's equity section andliabilities section of two ASX listed companies. As well as concept of different companies suchas large, small and reporting entity is also mentioned.
Table of ContentsABSTRACT.....................................................................................................................................2INTRODUCTION...........................................................................................................................4MAIN BODY...................................................................................................................................4PART (A).........................................................................................................................................4(I) Items which are recorded in the owner's equity section of both companies..........................4(ii) Explanation of the movement in each item recorded under the owner equity section.........5(iii) Explanation of items that are recorded under liabilities section..........................................7(iv) Explanation of the movement in each item recorded under the liabilities section.............8(v) Explanation of the relative advantages or disadvantages of each sources of fund each ofselected companies is using......................................................................................................10PART (B).......................................................................................................................................11Concept of small, large proprietary company and reporting entity..........................................11CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12APPENDICES...............................................................................................................................13
INTRODUCTIONThe term accounting is very crucial for each and every kind of organisations formanagement of financial transactions in an effective manner (Krasodomska and Cho, 2017).The corporate accounting can be defined as a type of accounting that is linked with gathering allkind of financial data and preparation of financial accounts so that financial resources can bemanaged. It is important to know that this type of accounting is essentially required bycompanies. While the financial accounting is associated with preparation of final accounts oforganisations as well as become an important framework better planning. The project report iscategorised into two parts A and B. In part A, items that included in equity section, liabilitiessection are described in broad sense. In addition, importance and drawback of sources of fund forselected companies is also mentioned. While in part B, concept of small, large and right entity isexplained. For completing part A of project report two companies which are listed in ASX areselected. The two companies are AMD limited and Boral limited. Both of companies are in thematerial industryMAIN BODYPART (A)(I) Items which are recorded in the owner's equity section of both companies.Owner's equity- In general, the owner's equity defines an owner's ownership in company.So in this section of balance sheet, those items are included that invested by an organisation'sowner in business (Hussain, Rigoni and Orij, 2018). Herein, below items that are recorded inowner's equity section are described that are as follows:AMP limited :Common stock- This can be defined as a kind of stock whose holders have right to votein companies' operations and activities. In addition, the holder of this stock is beingpreferred as owner of company due to having more rights.Retained earnings-It may be defined as those earnings which remain after makingpayment of dividend to shareholders. This is being considered as a saving for companiesas well as included in owner's equity section.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Enhanced sources of funds for ASX listed companieslg...
|16
|4012
|143
Corporate Finance & Accounting Assignmentlg...
|13
|3199
|61
Corporate Accounting Report 2022lg...
|15
|2851
|12
Corporate and Financial Accounting: Analysis of Deloitte Limited and BHP Billitonlg...
|10
|3760
|203
Corporate Accounting Report 2022lg...
|16
|2922
|16
Corporate & Financial Accounting Assignmentlg...
|15
|3652
|35