HI5020 Corporate Accounting: Analysis of MMA Offshore Limited's Financial Statements

HI5020 Corporate Accounting
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Contents
Introduction.................................................................................................................................................3
Cash Flow Statement...................................................................................................................................4
Other Comprehensive Income Statement....................................................................................................7
Accounting for Corporate Income Tax........................................................................................................9
Conclusion.................................................................................................................................................11
References.................................................................................................................................................12
Appendix...................................................................................................................................................13
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Introduction
This report explains about the various taxes which are used in corporate. With that the items
which are listed in the cash flow are highlighted with that the other comprehensive income
statement items are also examined. The annual reports are analyzed so that the financial position
of the company can be determined. MMA Offshore Limited was established in 1989 and is listed
in Australian Securities Exchange on 1999. It is one of the largest service providers of marine in
the Asia Pacific Region. The company has also tried to expand its business in Middle East in
2015. It has over 1000 people who are serving to as a diversified in its operations so that the
quality of service can be provided. The report also depicts the analysis of the three years of cash
flow statement so that the performance of 3 years can be determined in the competitive market.
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Cash Flow Statement
I) The items which are listed in the cash flow statement of the MMA Offshore Limited
are described according to operating, investing and financing activities (Devos,
2012).
Operating Activities: These are those activities which provides the majority of cash flows and
helps in determining that whether the company is profitable or not. The items of the operating
activities are:
Receipt from customers: These are the receipts which are received from the customers for the
purchase of the products and services (MMA Offshore Limited, 2018).
Interest Received: This is the amount of the income which is received as interest for the
securities and the other form of product (Devos, 2012).
Payment to suppliers and employees: This is the amount which is paid to the suppliers for the
product and the employees for rendering services to the customers.
Income Tax received: The income tax which is received by the organization as income so that
the transparency can be maintained (MMA Offshore Limited, 2018).
Interest and other cost of finance paid: This is the amount which is paid by the customers for
the interest and the cost of finance.
Investing Activities: The amount which is received as returns for investing in the assets of the
organization in which the organization has invested.
Payment for plant, property and equipment: The payments which are made by the
organization for purchasing the property, plant and equipment (Dhaliwal, et. al., 2013).
Proceeds from sale of property, plant and equipment: These are the amount which is received
as income for the sale of those property, plant or equipment.
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