Project Report - Corporate Accounting

Added on - 28 May 2020

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Running Head: Corporate Accounting1Project Report:Corporate Accounting
Corporate Accounting2ContentsIntroduction.......................................................................................................................3Que 1.................................................................................................................................3Que 2.................................................................................................................................3Que 3.................................................................................................................................4Que 4.................................................................................................................................5Que 5.................................................................................................................................5Que 6.................................................................................................................................6Que 7.................................................................................................................................7Conclusion........................................................................................................................8References.........................................................................................................................9
Corporate Accounting3Introduction:This report explains about the tax expenses and the activities which have beenhandled and reported by Erm Power Limited (EPW) in its annual report. This reportexpresses about the various activities, international accounting rules, Australian accountingrules, accounting standards etc which are used by the professionals while calculating the taxamount 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 companyincludes the following items:Contributed equityReservesRetained earningsEquity20172016(Amt in‘000)(Amt in‘000)Contributedequity3,35,0123,32,355Reserves2,20,8771,03,413RetainedEarnings9,99135,635Total equity5,65,8804,71,403(Annual Report, 2018)Contributed equity is the total amount which is the total value of shares of thestockholders 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 netprofit to sudden changes and the risk. The reserves of the company have been enhanced a lotin 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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