This report provides a comprehensive analysis of the deferred tax for National Australia Bank Limited, covering the financial years 2017, 2016, and 2015. It begins with an introduction to accounting and the role of financial statements, then delves into the analysis of the cash flow statement, highlighting trends in operating, investing, and financing activities. The report examines items reported in the other comprehensive income statement and explains why these items are presented separately from the profit and loss statement. It further investigates National Australia Bank’s tax expense, comparing it to the effective tax rate and analyzing deferred tax assets and liabilities. The analysis also explores the differences between income tax payable, current income tax expense, and income tax paid, providing insights into the bank’s financial reporting practices. The report concludes with an overview of the clarity and transparency of National Australia Bank's financial statements, pointing out some inconsistencies in cash flow transactions reported across different financial years.
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