Corporate and Financial Reporting: Importance, AASB, and Analysis of Debt to Equity Ratio of 4 Companies

The report talks about the relevance of the financial reporting and the role of AASB in the development of the accounting standards. It further talks about the debt to equity ratio of 4 companies and the break-up of their statement of their equity.

CORPORATE AND FINANCIAL REPORTING
1
CORPORATE AND FINANCIAL
REPORTING

CORPORATE AND FINANCIAL REPORTING
2
Executive summary:
The report talks about the relevance of the financial reporting and the role of AASB in the
development of the accounting standards.
It further talks about the debt to equity ratio of 4 companies and the break-up of their
statement of their equity.

CORPORATE AND FINANCIAL REPORTING
3
Contents
Introduction:...............................................................................................................................4
Importance of financial accounting and reporting:....................................................................4
AASB:........................................................................................................................................4
Owner’s equity:..........................................................................................................................5
Debt to equity of the selected companies:................................................................................18
Conclusion:..............................................................................................................................18
References................................................................................................................................20

CORPORATE AND FINANCIAL REPORTING
4
Introduction:
The concept of financial accounting means the process wherein the financial statements are
prepared so that these companies are bale to show in their financial performance to the
outside world.it is very much beneficial to the shareholders, internal team or the management
etc and hence, their appropriateness, relevance is of an utmost importance.
Importance of financial accounting and reporting and whether the same should be
regulated or not?
Financial accounting is the process of preparing financial statements that companies’ use to
show their financial performance and position to people outside the company, Including
investors, creditors, suppliers, and customers. It is further used by the taxation authorities to
test as to whether the incomes have been reported correctly and whether the taxes have been
paid as per the revenue earned by the company (Proquest, 2018).
It is very important for the government to know financial affairs of the company since it is
their duty to ensure fair reporting and accounting.
For the other company’s investors, this information is important since it helps them in
benchmarking and knowing and understand their exact nature. Form the point of view of an
investor, it is very much important to know and understand the financial reporting since that
would help them in making the decision as to whether to make an investment into the
company or not.
For the purposes of the internal decision making too, it is important since it would help the
management in understanding the exact position of the company (Accounting edu, 2018).

CORPORATE AND FINANCIAL REPORTING
5
There are many of the bodies such as AASB that are entrusted with the responsibility of
developing the accounting standards. The companies should be able to match up their
financial results and benchmark their business activities. Each company could be able to
compare its results as against the other companies.
If the financial reporting is left at the discretion of the management, then it might go for
financial reporting or not or it might go for different reporting.
So, in order to have uniformity, the financial accounting and reporting should be and is
regulated.
AASB:
AASB is the body which is the agency of the government of the country of Australia. The
body is known as the Australian Accounting standards and also includes in some of the
IFRS’s. When it first began its operations, it recommended some of the modifications to the
IFRS’s and some new disclosure to them. In the year 2007, it went on to modify in the
requirements that have been laid down in the IFRS’s which are to be issued by the IASB.
There were certain disclosures that were asked to be retained and then there were few of the
non-IFRS compliant requirements that applied for the not for profit entities and the public
sector companies (IAS plus, 2018).
The AASB body is the body which helps in the development and the maintenance of the high
quality of the financial reporting standards all across the global financial reporting of all of
the companies. The main contribution of the body is the issuance of the different versions of
the International Accounting standards of the country of Australia, the production of the
standards that are more like the transactions on some consistent basis, influencing the
development of all of the International Financial reporting standards, identification of the
different areas that require in the review and the introduction of the different relevant

CORPORATE AND FINANCIAL REPORTING
6
standards for the purposes of covering in those areas, promotion of all of the consistent
application along with the interpretation of the various standards on accounting (AASB,
2018).
The board comprises of some of the independent group of thee experts that have the mix of
practical experience and also the mix of the preparation, auditing, or the using of the financial
reports along with the education of accounting. For this, a high diversity of the geographical
locations are required.
The foundation of IFRS helps in fulfilling in the criteria of the composition of the board and
also of the geographical allocation that could be seen from the individual profiles. The
members of the board are somewhat responsible for the development and the publication of
the standards of the IFRS’s. The board is responsible for the approving of the interpretations
of the standards of IFRS that have bene developed by the Interpretations committee of the
IFRS (IFRS, 2018).
So, the AASB plays a very important when It comes to the preparation of the accounting
standards.
The IASB on the other hand comprises of about 15 members from 9 different countries which
includes in the United States. The body received funds from the major firms that are engaged
in the services of providing accounting, from the private financial institutions and the
industrial companies. AICPA was the founding member of the IASB. The IASB does not
sponsor nor endorses the IFRS resources (IFRS, 2018).
under the foundation of the IFRS, IASB though has the several responsibilities but the
standards set in by the body are not compulsory since it has a very few limited number of
countries as its members and if the standards developed by this committee are made

CORPORATE AND FINANCIAL REPORTING
7
compulsory, then the different companies would be following in different accounting
standards for the preparation of the financial statements which would defeat the purpose of
introducing uniform AS (IAS plus, 2018).
The IASB is just an oversight board for the IFRS’s. It is not compulsory that its accounting
standards be enforceable. It does not provide a solution for the exact solution for the
requirements of the companies.
Owner’s equity:
The following tables shows in the analysis of the various items of equity for the 4 companies
for 4 years:
AFT Pharmaceuticals:
Pa
rtic
ula
rs
20
17
20
16
20
15
20
14
Change in NZ
$
Change in
%
fro
m
201
4 to
201
5
Fr
om
201
5
to
201
6
fro
m
20
16
to
20
17
fr
om
20
14
to
20
15
Fr
o
m
20
15
to
20
16
fr
o
m
20
16
to
20
17
Gene
ral
unde
rstan
ding
Cause for change
fro Fr from

CORPORATE AND FINANCIAL REPORTING
8
m
2014
to
2015
om
20
15
to
20
16
2016
to
2017
Sh
are
Ca
pita
l
6
2,9
44.
00
5
3,9
02.
00
1
2,8
92.
00
33
.0
0
12,8
59.0
0
4
1,0
10.
00
9,0
42.
00
38
96
6.6
7%
31
8.
10
%
16
.7
7
%
these
are
the
amou
nts
that
are
inves
ted
into
the
comp
any
by
the
outsi
ders
could
be
due
to
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capit
al
being
intro
duce
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the
comp
any
co
uld
be
du
e
to
ne
w
ca
pit
al
bei
ng
int
rod
uc
ed
int
o
could
be
due to
new
capita
l
being
introd
uced
into
the
comp
any

CORPORATE AND FINANCIAL REPORTING
9
the
co
mp
an
y
Re
tain
ed
ear
nin
gs
-
44,
02
5.0
0
-
25,
63
7.0
0
-
10,
73
2.0
0
3,
18
1.
00
-
13,9
13.0
0
-
14,
905
.00
-
18,
38
8.0
0
-
43
7.3
8%
13
8.
88
%
71
.7
2
%
these
are
the
amou
nts
that
from
the
sum
total
of
the
past
earni
ngs
of
the
comp
any
could
be
due
to the
losse
s that
the
comp
any
could
have
suffe
red in
the
previ
ous
year
co
uld
be
du
e
to
the
los
ses
tha
t
the
co
mp
an
y
co
uld
ha
ve
could
be
due to
the
losses
that
the
comp
any
could
have
suffer
ed in
the
previ
ous
year

CORPORATE AND FINANCIAL REPORTING
10
suf
fer
ed
in
the
pre
vio
us
ye
ar
Sh
are
opt
ion
s
res
erv
e
29
5.0
0
65.
00
- - - 65.
00
23
0.0
0
#D
IV/
0!
#
DI
V/
0!
35
3.
85
%
these
are
the
amou
nts
that
have
been
set
aside
by
the
comp
any
towar
could
be
due
to no
reser
ve of
the
comp
any
co
uld
be
du
e
to
no
res
erv
e
of
the
co
mp
an
could
be
due to
no
reserv
e of
the
comp
any

CORPORATE AND FINANCIAL REPORTING
11
ds
the
share
s
optio
ns
y
Fo
rei
gn
cur
ren
cy
tra
nsl
atio
n
res
erv
e
25
6.0
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-
10
0.0
0
16
6.0
0
-
16
6.
00
332.
00
-
266
.00
35
6.0
0
-
20
0.0
0%
-
16
0.
24
%
-
35
6.
00
%
these
are
the
amou
nts
that
have
been
set
aside
by
the
comp
any
towar
ds
the
forei
gn
could
be
due
to
fluct
uatio
n due
to
forei
gn
curre
ny
exch
ange
co
uld
be
du
e
to
flu
ctu
ati
on
du
e
to
for
eig
n
cur
ren
y
could
be
due to
fluctu
ation
due to
foreig
n
curre
ny
excha
nge

CORPORATE AND FINANCIAL REPORTING
12
curre
ncy
conv
ersio
n
ex
ch
an
ge
Ca
sh
flo
w
hed
ge
res
erv
e
- - -
30
5.0
0
- -
305.
00
305
.00
-
#D
IV/
0!
-
10
0.
00
%
#
DI
V/
0!
these
are
the
amou
nts
that
have
been
set
aside
by
the
comp
any
towar
ds
the
loss
that
the
could
be
due
to
fluct
uatio
n due
to
cash
flow
hedgi
ng
co
uld
be
du
e
to
flu
ctu
ati
on
du
e
to
cas
h
flo
w
he
dgi
ng
could
be
due to
fluctu
ation
due to
cash
flow
hedgi
ng

CORPORATE AND FINANCIAL REPORTING
13
comp
any
could
be
expo
sed
to
due
to
cash
flows
To
tal
eq
uit
y
1
9,4
70.
00
2
8,2
30.
00
2,0
21.
00
3,
04
8.
00
Alchemia limited:
Partic
ulars
201
6
2015 201
4
201
3
Change in $ Change in
%
Gen
eral
und
erst
Cause for
change

CORPORATE AND FINANCIAL REPORTING
14
and
ing
fr
o
m
20
13
to
20
14
Fro
m
201
4 to
201
5
fro
m
201
5 to
201
6
fr
o
m
2
0
1
3
to
2
0
1
4
Fr
om
201
4
to
201
5
fr
o
m
2
0
1
5
to
2
0
1
6
fr
om
20
13
to
20
14
Fr
om
20
14
to
20
15
fro
m
20
15
to
20
16
Issue
d
capita
l
12
12,9
4,52
3.00
1
514,
93,8
21.0
0
1,
51,
302
.00
1,5
1,1
49.
00
15
3.
00
15
13,4
2,51
9.00
-
301,
99,2
98.0
0
0.
1
0
%
100
026
.78
%
-
1
9.
9
3
%
thes
e
are
the
am
oun
ts
that
are
inve
sted
co
ul
d
be
du
e
to
ne
w
ca
pit
co
ul
d
be
du
e
to
ne
w
ca
pit
co
ul
d
be
du
e
to
re
pa
ym
ent

CORPORATE AND FINANCIAL REPORTING
15
into
the
com
pan
y
by
the
outs
ider
s
al
bei
ng
int
ro
du
ce
d
int
o
the
co
m
pa
ny
al
bei
ng
int
ro
du
ce
d
int
o
the
co
m
pa
ny
of
the
sh
ar
es
Reser
ves 56,8
0,43
6.00
56,8
0,43
6.00
5,5
97.
00
4,1
55.
00
1,
44
2.
00
56,7
4,83
9.00
-
3
4.
7
1
%
101
390
.73
%
0.
0
0
%
thes
e
are
the
am
oun
ts
that
fro
m
co
ul
d
be
du
e
to
the
los
ses
co
ul
d
be
du
e
to
the
los
ses
co
ul
d
be
du
e
to
the
los
ses

CORPORATE AND FINANCIAL REPORTING
16
the
sum
tota
l of
the
past
ear
nin
gs
of
the
com
pan
y
th
at
the
co
m
pa
ny
co
ul
d
ha
ve
suf
fer
ed
in
the
pr
evi
ou
s
ye
ar
th
at
the
co
m
pa
ny
co
ul
d
ha
ve
suf
fer
ed
in
the
pr
evi
ou
s
ye
ar
th
at
the
co
m
pa
ny
co
ul
d
ha
ve
suf
fer
ed
in
the
pr
evi
ou
s
ye
ar
Accu
mulat
-
124
-
1456
-
1,2
-
1,2
-
6,
-
145
21
4,25
5.
6
112
079
-
1
thes
e
co
ul
co
ul
co
ul

CORPORATE AND FINANCIAL REPORTING
17
ed
losses
2,38
,284
.00
,64,2
80.0
0
9,8
49.
00
2,9
25.
00
92
4.
00
5,34
,431
.00
,996
.00
3
%
.75
%
4.
7
1
%
are
the
am
oun
ts
that
hav
e
bee
n
set
asid
e by
the
com
pan
y
tow
ard
s
the
sha
res
opti
ons
d
be
du
e
to
no
res
er
ve
of
the
co
m
pa
ny
d
be
du
e
to
no
res
er
ve
of
the
co
m
pa
ny
d
be
du
e
to
no
res
er
ve
of
the
co
m
pa
ny

CORPORATE AND FINANCIAL REPORTING
18
Total
equity 27,3
6,67
5.00
115,
09,9
77.0
0
27,
050
.00
32,
379
.00
Adalta limited
Parti
cular
s
201
7
2016 201
5
20
14
Change in $ Change in
%
Ge
ner
al
un
der
sta
ndi
ng
Cause for
change
fro
m
201
4 to
201
5
Fro
m
201
5 to
201
6
fro
m
201
6
to
201
7
fr
o
m
20
14
to
20
15
Fr
o
m
20
15
to
20
16
fr
o
m
2
0
1
6
to
fr
om
20
13
to
20
14
Fr
om
20
14
to
20
15
fro
m
20
15
to
20
16

CORPORATE AND FINANCIAL REPORTING
19
2
0
1
7
Issue
d
capit
al
175
,60,
338
.00
81,50
,331.
00
5
4,9
0,2
77.
00
1,5
1,1
49.
00
53,3
9,12
8.00
26,6
0,05
4.00
9
4,1
0,0
07.
00
35
32
.3
6
%
48
.4
5
%
1
1
5.
4
6
%
the
se
are
the
am
ou
nts
tha
t
are
inv
est
ed
int
o
the
co
mp
any
by
the
co
uld
be
du
e
to
ne
w
ca
pit
al
bei
ng
int
ro
du
ce
d
int
o
the
co
uld
be
du
e
to
ne
w
ca
pit
al
bei
ng
int
ro
du
ced
int
o
the
co
co
uld
be
du
e
to
rep
ay
me
nt
of
the
sha
res

CORPORATE AND FINANCIAL REPORTING
20
out
sid
ers
co
mp
an
y
mp
an
y
Reser
ves 3,9
08.
00
3,908
.00
- - - 3,90
8.00
-
#
DI
V/
0!
#
DI
V/
0!
0.
0
0
%
the
se
are
the
am
ou
nts
tha
t
fro
m
the
su
m
tot
al
of
the
pas
t
ear
co
uld
be
du
e
to
the
los
ses
tha
t
the
co
mp
an
y
co
uld
ha
ve
suf
co
uld
be
du
e
to
the
los
ses
tha
t
the
co
mp
an
y
co
uld
ha
ve
suf
co
uld
be
du
e
to
the
los
ses
tha
t
the
co
mp
an
y
co
uld
ha
ve
suf

CORPORATE AND FINANCIAL REPORTING
21
nin
gs
of
the
co
mp
any
fer
ed
in
the
pr
evi
ou
s
ye
ar
fer
ed
in
the
pre
vio
us
yea
r
fer
ed
in
the
pre
vio
us
yea
r
Shar
e
based
paym
ent
reser
ve
- - 3,9
08.
00
3,9
08.
00
the
se
are
the
am
ou
nts
tha
t
hav
e
bee
n
set
asi
co
uld
be
du
e
to
no
res
erv
e
of
the
co
mp
an
co
uld
be
du
e
to
no
res
erv
e
of
the
co
mp
an
co
uld
be
du
e
to
no
res
erv
e
of
the
co
mp
an

CORPORATE AND FINANCIAL REPORTING
22
de
by
the
co
mp
any
tow
ard
s
the
sha
res
opt
ion
s
y y y
Conv
ertibl
e
note
1
0,3
5,0
00.
00
-
am
ou
nts
set
asi
de
to
rep
ay
in

CORPORATE AND FINANCIAL REPORTING
23
the
con
ver
tibl
e
not
es
Retai
ned
earni
ngs/(
Accu
mula
ted
losses
)
-
98,
18,
868
.00
-
69,86
,351.
00
-
67,
01,
689
.00
-
53,
21,
36
9.0
0
-
13,8
0,32
0.00
-
2,84
,662
.00
-
28,
32,
517
.00
25
.9
4
%
4.
25
%
4
0.
5
4
%
am
ou
nts
per
tai
nin
g
to
the
pre
vio
us
yea
rs
pro
fits
or
loss
co
uld
be
du
e
to
acc
um
ula
tio
n
of
the
los
ses
pe
rta
ini
co
uld
be
du
e
to
acc
um
ula
tio
n
of
the
los
ses
per
tai
nin
co
uld
be
du
e
to
acc
um
ula
tio
n
of
the
los
ses
per
tai
nin

CORPORATE AND FINANCIAL REPORTING
24
es ng
to
the
pr
evi
ou
s
ye
ars
g
to
the
pre
vio
us
yea
rs
g
to
the
pre
vio
us
yea
rs
Total
equit
y
77,
45,
378
.00
11,67
,888.
00
-
1,7
2,5
04.
00
-
51,
66,
31
2.0
0
Acrux limited
Parti
cular
s
2017 201
6
201
5
201
4
Change in $ Change in
%
Ge
ner
al
und
erst
Cause for
change

CORPORATE AND FINANCIAL REPORTING
25
and
ing
fr
o
m
20
14
to
20
15
Fro
m
201
5 to
201
6
fro
m
201
6 to
201
7
f
r
o
m
2
0
1
4
to
2
0
1
5
Fro
m
201
5 to
201
6
fr
o
m
2
0
1
6
to
2
0
1
7
fr
om
20
13
to
20
14
Fr
om
20
14
to
20
15
fro
m
20
15
to
20
16
Contr
ibuted
equity
95,8
73.0
0
95,8
73.0
0
95,
873
.00
95,
873
.00
- - -
0.
0
0
%
0.0
0%
0.
0
0
%
thes
e
are
the
am
oun
ts
that
are
inv
cou
ld
be
due
to
ne
w
cap
ital
bei
cou
ld
be
due
to
ne
w
cap
ital
bei
cou
ld
be
due
to
rep
ay
me
nt
of

CORPORATE AND FINANCIAL REPORTING
26
este
d
into
the
co
mp
any
by
the
outs
ider
s
ng
intr
od
uce
d
int
o
the
co
mp
any
ng
intr
od
uce
d
int
o
the
co
mp
any
the
sha
res
Reser
ves 1,21
5.00
1,45
4.00
1,1
94.
00
638
.00
55
6.
00
260.
00
-
239.
00
8
7.
1
5
%
21.
78
%
-
1
6.
4
4
%
thes
e
are
the
am
oun
ts
that
fro
m
the
sum
tota
cou
ld
be
due
to
the
los
ses
tha
t
the
co
mp
cou
ld
be
due
to
the
los
ses
tha
t
the
co
mp
cou
ld
be
due
to
the
los
ses
tha
t
the
co
mp

CORPORATE AND FINANCIAL REPORTING
27
l of
the
past
ear
nin
gs
of
the
co
mp
any
any
cou
ld
hav
e
suf
fer
ed
in
the
pre
vio
us
yea
r
any
cou
ld
hav
e
suf
fer
ed
in
the
pre
vio
us
yea
r
any
cou
ld
hav
e
suf
fer
ed
in
the
pre
vio
us
yea
r
Retai
ned
earnin
gs/(A
ccum
ulated
losses
)
-
53,1
63.0
0
-
53,4
38.0
0
-
56,
442
.00
-
54,
454
.00
-
1,
98
8.
00
3,00
4.00
275.
00
3.
6
5
%
-
5.3
2%
-
0.
5
1
%
am
oun
ts
pert
aini
ng
to
the
pre
vio
cou
ld
be
due
to
acc
um
ula
tio
n
cou
ld
be
due
to
acc
um
ula
tio
n
cou
ld
be
due
to
acc
um
ula
tio
n

CORPORATE AND FINANCIAL REPORTING
28
us
yea
rs
prof
its
or
loss
es
of
the
los
ses
per
tai
nin
g
to
the
pre
vio
us
yea
rs
of
the
los
ses
per
tai
nin
g
to
the
pre
vio
us
yea
rs
of
the
los
ses
per
tai
nin
g
to
the
pre
vio
us
yea
rs
Non-
contr
olling
intere
sts
- -
Total
equit
y
43,9
25.0
0
43,8
89.0
0
40,
625
.00
42,
057
.00

CORPORATE AND FINANCIAL REPORTING
29
(Annual reports 2017, 2016, 2015, 2014).
Debt to equity of the selected companies:
The following table shows in the debt to equity ratio of the companies:
Particulars AFT Alchemia Adalta Acrux
Debt
38,761.0
0
6,946.0
0
3,44,512.0
0
3,381.0
0
Equity
19,470.0
0
27,050.0
0
77,45,378.0
0
43,925.0
0
Debt to equity
ratio
1.990806
4
0.256783
7
0.04447968
8
0.076972
1
The debt to equity ratio is also termed as the risk ratio which is the ration that calculates in
the weight of the total debt of the company as against the total equity of the company. The
debt to assets ratio uses the total assets as its denominator whereas the debt to equity ratio
uses the total amount of the equity. This ratio shows in the capital structure of the company
and the policy of the company towards its debt to equity financing.
The higher this ratio, the better it is for the company and more preferable it is for the
company. It shows the stability of the company when it comes to the generation of the cash
flow for the company but then it is also true that such a company is set to decline in the

CORPORATE AND FINANCIAL REPORTING
30
future. Further, when this ratio is low, then it merely means that the firm is less levered and
that is whole financed through the investment made in by the shareholders (Corporate finance
institute, 2018).
In the given case, the debt equity ratio of AFT Pharmaceuticals seems to be the best and that
of Alchemia limited seems to be the worst.
Conclusion:
From the above discussion, it could be stated that the financial reporting should be regulated
and it should be in some responsible hands. Further, the main role of the AASB is the
development of the accounting standards.
Also, the statement of equity helps in understanding the amount of money that the outsiders
have invested into the company. The debt equity ratio of Alchemia is the best which means
that it is the most preferable company to make an investment into.

CORPORATE AND FINANCIAL REPORTING
31
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