HI5020 Corporate Accounting: Detailed Analysis of JB HI-FI Financials
VerifiedAdded on 2023/06/11
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This report provides a detailed analysis of JB HI-FI's financial statements, focusing on the cash flow statement, other comprehensive income (OCI) statement, and accounting for corporate income tax. The analysis of the cash flow statement includes a breakdown of receipts from customers, payments to suppliers and employees, payments for business combinations and plant and equipment, and proceeds from the sale of plant and equipment and the issuance of shares. Trends in operational, investing, and financing cash flows are also discussed. The OCI statement elements, such as changes in the fair value of cash flow hedges and exchange differences on the translation of foreign operations, are explained, along with reasons for having a separate OCI statement. The report further examines the company's tax expense, deferred tax assets and liabilities, and the reconciliation between accounting income and taxable income, highlighting the complexities arising from temporary differences in carrying values. Finally, the report also addresses the confusing aspects related to the temporary differences in carrying value of various items which then brought into picture the deferred tax assets/liabilities which had potential future implications and it is this intermingling which complicated the whole computations.
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