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HA2032 Corporate Accounting Assignment

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corporate and financial accounting (HA2032)

   

Added on  2020-05-16

HA2032 Corporate Accounting Assignment

   

corporate and financial accounting (HA2032)

   Added on 2020-05-16

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Running head: CORPORATE ACCOUNTINGCorporate accountingName of the universityName of the studentAuthors note
HA2032 Corporate Accounting Assignment_1
1CORPORATE ACCOUNTINGTable of ContentsRequirement i).................................................................................................................................2Requirement ii)................................................................................................................................3Requirement iii)...............................................................................................................................4Requirement iv)...............................................................................................................................4Requirement v)................................................................................................................................5Requirement vi)...............................................................................................................................6References list:.................................................................................................................................9
HA2032 Corporate Accounting Assignment_2
2CORPORATE ACCOUNTINGRequirement i)Items of equity are listed under liabilities section of the balance sheet profile of company.Analysis of financial statements of freedom food group limited depicts that the items of equitycomprise of issued capital, non controlling interest, retained profits and reserves. Amount ofequity capital for the financial year 2017 and 2016 stood at $ 249954 million and $ 169106million respectively indicating that there has been increase in figures. Non controlling interestamounts to $ 8234 million in year 2016 and there is no amount attributable to this section in year2017. Reserves value has increased from $ 2274 million in year 2016 as against $ 56397 millionin year 2017 indicating increase in reserves generated by company (ffgl.com.au 2018). However,value of retained earnings has reduced in the current year 2017 to $ 127879 million as against $128527 in year 2016 respectively (ffgl.com.au 2018). Issued capital represents the amount that is invested and nominal value of shares that areheld by shareholders of company (Tran and Zhu 2017). It incorporates shares that have been soldto shareholders in return for some considerations or cash. Non controlling interest is one of theelements of equity ownership that are not attributable to parent company having controllinginterest in company. It is a type of investment where investors do not have any control (Kaya andKoch 2015). Retained earnings are the profits generated by company that is reinvested in business andthey are not distributed to shareholders. Each organization has different reason by reinvestingand this might be to repay debts and for financing any new project. Reserves are one of theportions of retained earnings that is kept aside by business for particular purpose (Picker et al.2016).
HA2032 Corporate Accounting Assignment_3
3CORPORATE ACCOUNTINGRequirement ii)It has been ascertained from the observed figures of the financial statement of Freedomfood group limited that the income tax expense has reduced in the current year. Value of incometax expense for financial year 2017 and 2016 stood at $ 6483 million and $ 1809 millionrespectively (ffgl.com.au 2018).
HA2032 Corporate Accounting Assignment_4

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