This report provides a comprehensive analysis of corporate accounting practices, focusing on the sources of funds utilized by Evolution Mining and Incitec Pivot over a three-year period. It identifies and examines the evolution of various funding sources, including issued capital, reserves, retained earnings, trade payables, and interest-bearing liabilities, while also discussing the merits and demerits of each. The report delves into the different types of liabilities, both current and non-current, as presented in the companies' financial statements. Furthermore, it summarizes the key provisions of AASB 137 concerning provisions, contingent liabilities, and contingent assets, demonstrating how these standards are applied by the selected companies. The report concludes by identifying the categories of assets reported by both companies and analyzing the measurement bases used for each class of assets, providing a detailed overview of their financial reporting strategies.
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