HI5020 Corporate Accounting: Analysis of AMA Group Limited's Financial Statements

HI5020 Corporate Accounting
1

Table of Contents
CASH FLOWS STATEMENT.......................................................................................................4
(i) Various items of cash flow statement.....................................................................................4
(ii) Comparative analysis of various categories in cash flow......................................................4
OTHER COMPREHENSIVE INCOME STATEMENT................................................................5
(iii) Items in another comprehensive income statement..............................................................5
(iv) Understanding of items identified.........................................................................................6
(v) Reasons for not including them in income statements...........................................................6
ACCOUNTING FOR CORPORATE INCOME TAX...................................................................6
(vi) Tax expense in latest financial statements............................................................................6
(vii) Is this figure the same as the company tax rate times your firm’s accounting income?
Explain why this is, or is not, the case for your firm...................................................................7
(viii) Comment on deferred tax assets/liabilities that are reported on the balance sheet
articulating the possible reasons why they have been recorded..................................................7
(ix)Is there any current tax assets or income tax payable recorded by your company? Why is
the income tax payable not the same as income tax expense?.....................................................7
(x) Is the income tax expense shown in the income statement same as the income tax paid
shown in the cash flow statement? If not why is the difference?................................................8
(xi)What do you find interesting, confusing, surprising or difficult to understand about the
treatment of tax in your firm’s financial statements? What new insights, if any, have you
gained about how companies account for income tax as a result of examining your firm’s tax
expense in its accounts?...............................................................................................................8
2

References........................................................................................................................................9
3