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Project Report Corporate Accounting

   

Added on  2021-06-15

11 Pages2787 Words48 Views
Running Head: Corporate Accounting 1Project Report: Corporate Accounting

Corporate Accounting 2ContentsIntroduction.......................................................................................................................3Company overview...........................................................................................................31. Cash flow statement analysis........................................................................................32. Comparative analysis on cash flow statement..............................................................43. Comprehensive income statement analysis..................................................................54. Comprehensive income statement items......................................................................65. Reasons.........................................................................................................................66. Tax expenses of the company.......................................................................................67. Similarity in tax expenses.............................................................................................78. Deferred tax amount.....................................................................................................79. Current payable or receivable tax.................................................................................710. Differences in tax amount...........................................................................................811. Tax treatment..............................................................................................................8Conclusion........................................................................................................................9References.........................................................................................................................9

Corporate Accounting 3Introduction:Corporate accounting is an accounting branch which deals with the company’s accounting process, preparation of final statement of the company and records all the financial data of the company in proper way. In this report, accounting process of the Qantas limited has been evaluated to measure the performance and the position of the company. The main focus of the report is on the income statement, cash flow statement and the tax treatment of the company. It identifies and measures the various values of the taxation in the annual report of the comapny and identifies the tax recording process and the accounting standards of the company. Company overview: Qantas limited is largest airline company in the Australian market. The company is operating the activities through various subsidiaries companies such as Jetstar, Qantas domestic airlines, Qantas international airlines etc. the company offers different deals and thedifferent services through its various subsidiary company. The company has diversified its market at international level and currently, it is managing its business at around 65 destinations at international level (Our Company, 2018). The annual report (2017) of the company explains that the company has followed AASB rules to record and perform the accounting activities and process of the company. 1.Cash flow statement analysis:Cash flow statement is a financial statement which explains about the changes into the cash flow of the company in a specific time period. It evaluates the changes in the cash position of the comapny and explains about the liquidity position of the company to the stakeholders of the company. Annual report (2017) of the company explains that the cash flow position of the company has been changed from 2016 to 2017. Firstly, it has been found that the revenues and the non cash items of the company have affected the operating activities cash position of the company. It explains that the cash position has been lowered due to higher cost of revenue of the company (Tran, 2015). In addition, the changes have been identified in the property, plant and equipment of the company. The investment has been lowered by the company and due to it; the investment

Corporate Accounting 4position of the company has been improved. Further, the company has also lowered the investment purchase of the company because of industry performance. The debt payment amount of the company has been improved by the company and thecompany has repurchased the t stock from the market which has lead to the company towardsthe huge cash outflow. Statement of CASH FLOWFiscal year ends in June. AUD in millions except per share data.2016-062017-06Cash Flows From Operating ActivitiesOther non-cash items28192704Investments in property, plant, and equipment-1618-1368Property, plant, and equipment reductions50934Purchases of investments-39-16Debt repayment-453Repurchases of treasury stock-1080-564(Annual report, 2017)It explains that various factors have affected the cash position of the company from last year and due to it, the net cash flow of the company has also been lowered. 2.Comparative analysis on cash flow statement:The cash flow position of the company has been compared with the cash flow position of last 2 years of the company to measure the performance of the company. the operating activities has been evaluated firstly and it has been recognized that the cash flow position of the company has been enhanced from 2015 but lowered from 2016 due to changes into the revenue position of the company. In addition, the cash flow from investment activities of the company has been loweredby a great level due to the huge investment in the property, plant and equipment by the company (Brigham and Ehrhardt, 2013). The financing activities cash flow further explains about the increment cash inflow position of the company. It explains that the company has not repurchased the T bills more in current year and due to it, the financing position has been better from the last year. Statement of CASH FLOWFiscal year ends in June. (Amt in AUD2015-2016-2017-

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