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HI5020 Project Report - Corporate Accounting

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Added on  2020-05-28

HI5020 Project Report - Corporate Accounting

   Added on 2020-05-28

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Running Head: Corporate Accounting 1Project Report: Corporate Accounting
HI5020 Project Report - Corporate Accounting_1
Corporate Accounting 2ContentsIntroduction.......................................................................................................................3Que 1.................................................................................................................................3Que 2.................................................................................................................................3Que 3.................................................................................................................................4Que 4.................................................................................................................................5Que 5.................................................................................................................................5Que 6.................................................................................................................................6Que 7.................................................................................................................................7Conclusion........................................................................................................................8References.........................................................................................................................9
HI5020 Project Report - Corporate Accounting_2
Corporate Accounting 3Introduction:This report explains about the tax expenses and the activities which have been handled and reported by Erm Power Limited (EPW) in its annual report. This report expresses about the various activities, international accounting rules, Australian accounting rules, accounting standards etc which are used by the professionals while calculating the tax amount and the presenting the amount in the annual report of the company. Que 1:The annual report of the company explains that the equity amount of the company includes the following items:Contributed equityReservesRetained earnings Equity20172016(Amt in ‘000)(Amt in ‘000)Contributed equity3,35,012 3,32,355 Reserves2,20,877 1,03,413 Retained Earnings9,991 35,635 Total equity5,65,880 4,71,403 (Annual Report, 2018)Contributed equity is the total amount which is the total value of shares of the stockholders which have directly purchased by the shareholders from the company’s issue. The contributed equity of the company has been enhanced a bit from last year in 2017. Further, the reserves are the total amount which is kept by the company from the total net profit to sudden changes and the risk. The reserves of the company have been enhanced a lot in 2017 and it has taken place due to new policies of the company (Daly, and Farley, 2011). Lastly, retained earnings are the part of net profit of the company which is kept by the
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