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Solved Assignment on Accounting PDF

   

Added on  2021-05-31

11 Pages2827 Words48 Views
Running Head: Corporate Accounting 1

Corporate Accounting 2ContentsIntroduction.......................................................................................................................3JB HI FI............................................................................................................................3Cash flow statement..........................................................................................................3Analysis on cash flow statement...................................................................................3Comparative analysis....................................................................................................4Comprehensive income statement....................................................................................5Items of the comprehensive income statement.............................................................5Understanding about the items.....................................................................................5Reasons behind not adding it into income statement....................................................6Accounting for corporate income tax...............................................................................6Tax expenses.................................................................................................................6Accounting income and taxation..................................................................................6Deferred tax expenses...................................................................................................7Current tax assets and liabilities...................................................................................7Income tax in income statement and cash flow statement............................................8Insight factor of the taxation system.............................................................................8Conclusion........................................................................................................................9References.......................................................................................................................10

Corporate Accounting 3Introduction:Accounting is a process which makes it easier for an organization to identify and evaluate the accounting system, accounting standards, accounting recording system etc of the company. The report explains about the evaluation on the financial statement of the company and tax recording system of the company. It measures the different taxation figures of the company to measure the recording system and the accounting regulations. The report has been prepared to understand the taxation figures of the company. For this evaluation, JB HI FI has been measured. JB HI FI:JB HI FI is an Australian company which is operating its business in retailing industry. It retails the consumer good majorly the video games, CDs, DVDs etc. the companyhas been founded in the year of 1974. The company is operating its business through 303 retail stores. The company has diversified its business at international market to measure and enhance the performance of the company (Home, 2018). Cash flow statement:Cash flow statement is one of the main financial statements of the company which measures the total cash position of the company. It evaluates the cash outflow and inflow of the company on the basis of the operating activities, financial activities and the investing activities of the company (Robinson, Stomberg and Towery, 2015). Analysis on cash flow statement:The cash flow statement of JB HI FI has been evaluated and it has been measures that how many changes have occurred into the cash position of the company from the last year and what are the factors due to which these changes have occurred. The operating activities explains that the non cash items and the revenue have been improved in the company from the last year and due to it, the operating cash flows of the company has been improved (Morris, 2017). The investment into the property, plant and equipment has impacted on the total cash flow from investing activities. It has been identified that the changes have taken place due to less investment into PPE. Further, the company has issued more common stock in the market in the year of 2017 as well as the dividend amount has also been increased. However, the

Corporate Accounting 4stock amount is higher and thus the cash flow from investing activities of the company has been improved (Annaul report, 2017). JB HI FI LTD (JBH) Statement of CASH FLOWFiscal year ends in June. AUD.2015-062016-062017-06Non cash items -424660005955000395900000Investments in property, plant, and equipment-42466000-52343000-49100000Common stock issued31250005955000395900000Cash dividends paid-87174000-93205000-119100000Other financing activities-484000-90000-1700000(Monrinsgtar, 2018)Comparative analysis:The cash flow statement of JB HI FI has been compared with the cash flow statement of last 3 years. On the basis of the cash flows statement of 2015, 2016 and 2017, it has been found that the operating cash flows of the company have been improved in last 3 years. The main reason behind the improvement is higher revenue of the company and less cost of revenue. In addition, the investing cash flow of the company has been measured and it ahs bee found that the cash outflow of the company has been higher due to huge investment into the PPE and the ore cash outflow in the acquisition process (Ho, 2017).Moreover, the financing activities of the company has been measured and it has been found that the net cash flow from financing activities have been enhanced due to issue of common stock in the company. JB HI FI LTD (JBH) Statement of CASH FLOWFiscal year ends in June. AUD.2015-062016-062017-06Cash Flows From Operating Activities-424660005955000395900000Net cash used for investing activities-44370000-52001000-885500000Net cash provided by (used for) financing activities-129640000-130565000715900000Net change in cash-174210000-182387000-169700000Free cash flow137430000132797000141500000

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