Advance Financial Reporting: Revenue and Environmental Impact

This report provides an analysis of the Adani coal project from a financial reporting perspective. It examines the revenue streams for the Federal and State governments if the project is approved, including corporate tax, income tax, and other sources. The report investigates the environmental impact of the project, focusing on carbon emissions, water pollution, and the damage to the Great Barrier Reef caused by coal mining. It also considers the impact on Aboriginal people and native title rights. The analysis explores the conflict of interest between government revenue and environmental protection, the extinguishment of native title, and the potential for damage to the Great Barrier Reef. The report also evaluates India's energy demands and the role of renewable energy options. The study highlights the negative impacts of coal mining, including air and water pollution, and the need to reduce carbon emissions to protect the environment and marine life. The report concludes with a discussion on the importance of stopping the dumping of sediments associated with black coal on the Great Barrier Reef.

Advance Financial Reporting

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

EXECUTIVE SUMMARY
This study has examined that, corporate tax, non – tax revenue, income tax, custom duties,
service tax, etc. are considered to the key revenue streams of the Federal and state government.
Native title is considered to be as the recognition of the non- indigenous Aboriginal people. The
carbon pollution results in high degree of catastrophic weather event which has eventually
resulted in the coral bleaching in the Great Barrier Reef. It has been evaluated that, Coal mining
by the Adani group will in turn eventually lead to high degree of damage to the Great Barrier
Reef. The dumping of the sediments linked with the black coal on the Great Barrier Reef must be
stopped to reduce the high degree of negative impact on the environment. Moreover, it has been
examined that, India and Queensland in turn are considered to be one of the most prominent
measure which tends to have high degree of better energy options.
INTRODUCTION
Advance financial reporting is referred to as an instructor facilitating course which is
very useful in providing intermediate and continuation financial reporting. It is considered to be
very prominent in the disclosure of various financial related information to the stakeholders and
management of the company. The key objective of the study is:
 To identify the revenue streams that the Federal and State Government would receive if
the Adani project is approved.
 To contribute to carbon emissions, the impact of water pollution and impact on
Aboriginal people on the Great Barrier Reef.
 To evaluate the India’s appetite for energy grows and its capability to fulfil the demand
for energy from domestic sources.
MAIN BODY
McCall, (2017) sought to determine the fact that, the state government revenue in turn tends
to come from the taxes, income sales, fees and charges and various other transfers associated
with the federal government. One of the key source associated with the Federal and state
government is to likely focus on the collection of the tax revenues from the sales, income and the
property taxes. Moreover, Grech, Pressey, and Day, (2016) investigated that, around 48% of the
federal revenue tends to come from the individual income taxes and around 9% of the revenues
has come from the corporate income tax and around another 35% of the revenue comes from the
payroll taxes which in turn funds various social insurance program. All the other revenues comes
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from the series of mixed source. Subsequently, Australia, (2017) argued that, there seems to be
conflict of interest between the income streets to the government and also protecting the
environment of the economy for the future legislation. There are various set of revenue streams
for the government which mainly comprises of the corporate tax, non – tax revenue, income tax,
custom duties, service tax, borrowings and various other liabilities, etc. This way it helps the
federal and the state government to improve the functioning of the business.
Biggs, (2019) examined the fact that, the government of the Queensland has extinguished
the native title for around 1385 hectares of the Jagalingou and Wangan country for the proposed
Adani coalmine in Queensland’s Galilee Basin. In order to mine any land it is considered to be
very prominent to mine land under native title claim. It is very crucial for the miner to use
Indigenous land which is considered to be very prominent which in turn allows the state which
helps in extinguishing the native title. Adani has also bankrupted over costs from various set of
legal challenges. The indigenous people of the Australia in turn do not have any legal right to
refuse to the Adani mine. The government of the Queensland has extinguished the native
title over areas of land in the Galilee Basin. This way it is considered to be very prominent for
the Adani coal mine in order to proceed with the project. Extinguishment of the native title for
the Adani coal mine means that, the land which is associated with the Galilee Basin is no longer
considered to be as the Indigenous land. The extinguishment of the native title is mainly
associated with that the indigenous people has the political authority over their own set of affairs.
Reddy, and Rosencranz, (2018) sought to determine the fact that, Native title is regulated
under the Commonwealth Native Title Act, 1993. However, the commercial interest of the Adani
has been prevailing over the privileges of the Jagalingou and Wangan people. Moreover, the
Institute of Energy Economics and Financial Analysis stated that, the Adani coal project will be
benefited from the various range of Australian taxpayer funded agreements which mainly
includes favourable deals, subsidies and tax concession. Native title is considered to be as the
recognition of the non- indigenous Aboriginal people. It means they are highly entitled to the
certain laws and customs. Extinguishment of the certain land right might also result in the
extinguishment of the certain cultural rights. Moreover, Cave, and Gillis, (2017) investigated
that, Coal is considered to be as the combustible black sedimentary rock. Coal is pure carbon
with certain amount of various other variables such as sulphur, nitrogen, oxygen, hydrogen, etc.
Coal mining in turn largely increases the risk of loosening up the top soils into the waterways
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and other streams where the sediments in turn pollute the water system and can also smother the
life of the plans downstream. This in turn also largely influence the marine life. There are various
set of environmental impact associated with the coal industry which largely includes key issues
related with the air pollution, water pollution, waste management, etc. All this tends to put high
degree of negative impact within the environment. Burning and mining of the coal in turn tends
to create the carbon pollution which tends to result in the heating of the ocean. This eventually
leads to high degree of catastrophic weather event which has eventually resulted in the coral
bleaching in the Great Barrier Reef. The Adani group massive coal mining has been wrecking
the Great Barrier Reef.
Subsequently, Foxwell-Norton, and Lester, (2017) argued that, burning and mining of coal
tends to create high degree of carbon pollution which in turn hits the Great Barrier Reef. It is
considered to be very crucial to reduce the carbon pollution in order to save the reef. The coal
mine would in turn drive higher degree of industrial port expansion along the side of the reef
coastline. The coal mining in turn tends to have threatened impact on the habitat of marine life
such as turtles, dolphins and vulnerable dugongs. Burning of the coal from the Adani’s mine will
eventually lead to higher degree of extreme weather conditions and will also result in further
destruction of the Great Barrier Reef. The Carmichael mine of the Adani group will result in the
destruction of the ancestral lands, culture and waters associated with the indigenous people of the
Australia. It also results in the travelling of the 500 more coal ships across the Great Barrier
Reef. It will also result in higher degree of access to the precious groundwater of the Queensland
of 270 billion litres. STANLEY, ADANI'S CARMICHAEL COAL MINE AND HEALTH
sought to determine the fact that, there seems to be high degree of aquifers associated with
the Great Artesian basin. The mining of the coal by the Adani group will eventually result in the
additional 4.6 billion tonnes of carbon pollution within the environment and atmosphere. The
past track record of the Adani’s cannot be trusted in order to contribute significantly well for the
welfare of the society. There seems to be high degree of fraud allegations, mistreatment of local
committees, death at the work site, pollution incidents and exploitation of workers are considered
to be the key reasons because of which Adani group cannot be trusted. The mining,
transportation and burning of the coal will result in the death of the people. Pollution which is
highly associated with the burning of the coal is considered to be one of the biggest contributed
related with the global warming and threatening the marine life of the animals. Queensland of
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Australia will be in draught because Adani mine will be sucking out 270 billion litres of water
across the total life span. Draining rivers, aquifers of the great artesian basin and ancient spring.
It will also result in the dumping of the waste water into the great basin reef. This Adani Project
will in turn also influence the risk which is highly associated with the aquifers of the Great
Artesian Basin. This is one of the sole water source which can be highly influenced by the coal
Adani group. Subsequently, Foxwell-Norton, and Lester, (2017) argued that, coal mining will in
turn eventually result in the threatening of the life of the Australia which in turn tends to result in
high degree of deeper drought, supercharged storms, bushfires, floods, rising tides, etc. Coal
mining by the Adani group will in turn eventually lead to high degree of damage to the Great
Barrier Reef. High degree of corals has been killed because of the unpredicted back to back
bleaching events which in turn has been caused by the high extreme temperature which has been
caused by the global warming. Coal is considered to be one of the biggest driver which
eventually results in global warming. Coal mining, burning and exporting are considered to be as
the key factors which has eventually resulted in the high degree of contribution to the Australia
which has resulted in the crisis to the climate. Coal is considered to be dander to the health of the
human. It results in the death of the people, local communities and also results in the pollution to
the air. Hence, the dumping of the sediments associated with the black coal on the Great Barrier
Reef must be stopped in order to lower the high degree of negative impact on the environment.
Smith, (2017) examined the fact that, India and Queensland in turn are considered to be one
of the most prominent measure which tends to have high degree of better energy options. It is
very faster to build and the renewables are cheaper. It is considered to be very crucial to move
beyond embracing of the renewable energies and also helps in gaining high degree of the
environmental benefits which has been carried out so far. Low temperature oxidation related
with the waste coal and spontaneous combustion in turn is considered to be as one of the most
crucial factor which in turn largely influence the greenhouse gas emission (POOR WATER
QUALITY, 2020). Carbon footprint is considered to be as the key indicator which helps in
assessing the greenhouse gases which has been emitted from the specific coal mining process or
activity. Emissions from the stock piles of the coal in turn largely contributes to the carbon
emission into the environment. Coal mining and burning tends to have one of the significant
driving experience on the Great Barrier Reef. The coal in turn has been causing high degree of
stress for corals which in turn results in the bleaching of the ocean.
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Lester, (2016) sought to determine the fact that, burning and mining of the coal in turn tends
to create the carbon pollution which tends to result in the heating of the ocean. The Advani group
has been wrecking the Great Barrier Reef. This eventually leads to high degree of catastrophic
weather event which has eventually resulted in the coral bleaching in the Great Barrier Reef. The
Adani’s group of people in turn likely to influence the Aboriginal people because they will
destroy the culture and land of the people. Adani group has been destroying the culture and land
of the Wangan and Jagalingou. This eventually has the high degree of cascading effect on the
neighbouring waters and land of the traditional indigenous people of Australia. Coal mining
eventually has a high degree of unleashing mass of carbon within the specific atmosphere and
also tends to have propelling impact on the global warming.
Moreover, Moon, (2017) investigated that, coal mining in turn largely increases the risk of
loosening up the top soils into the waterways and other streams where the sediments in turn
pollute the water system and can also smother the life of the plans downstream. McCalman,
(2017) sought to determine the fact that, water pollution in turn tends to make corals more
susceptible to impede coral growth, susceptible to the disease and reproduction which in turn
highly leads to the change in the food structural of the Great Barrier Reef. Increasing sediments,
contaminants and nutrients which has been combined with high degree of sea temperatures and
ocean acidification are considered to be very damaging to Great Barrier Reef. There seems to be
decline in the ecosystem and coral reefs which sustain and helps in determining the quality of the
water in Great Barrier Reef. Rise in the water temperatures and also increase in the seawater
acidity which is mainly related with the climatic change. There seems to be significant loss
associated with the loss of the coral cover within the Great Barrier Reef. Improving the water
quality is considered to be one of the most prominent measure which in turn improves the
ecosystem resilience.
Subsequently, Foxwell-Norton, and Lester, (2017) argued that, India’s power plants is
considered to be of one of the relevant approach which is at the increasing trend. Coal has been
used at the significantly substantial quantity which leads to high degree of demand associated
with the coal. Adani group has been expanding their business to the Australian as well as various
other countries across the globe. There seems to be an increasing demand of the coal which leads
to higher operational growth and productivity. The renewable energy growth within the India is
considered to be very significant. It has enormous capability and is also growing at a faster pace.
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Nuclear energy and coal are considered to be as the key energy sources. The demand of the coal
has been significantly increasing. The Adani group is focusing on expanding their business at
international scale which helps in meeting demand and supply of the coal.
CONCLUSION
From the study it has been summarized that, the Carmichael mine of the Adani group will
lead to the destruction of the ancestral lands, culture and waters associated with the indigenous
people of the Australia. Coal is referred to as the combustible black sedimentary rock. Coal is
pure carbon with certain amount of various other variables such as sulphur, nitrogen, oxygen,
hydrogen, etc. This leads to increases the risk of loosening up the top soils into the waterways
and other streams where the sediments pollute the water system. Moreover, it has been
concluded that, coal mining by the Adani group will in turn eventually lead to high degree of
damage to the Great Barrier Reef. India and Queensland has one of the most prominent measure
which tends to have high degree of better energy options.
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REFERENCES
Books and Journals
McCall, C., 2017. Australia's new coal mine plan: a “public health disaster”. The
Lancet, 389(10069), p.588.
Grech, A., Pressey, R.L. and Day, J.C., 2016. Coal, cumulative impacts, and the great barrier
reef. Conservation letters, 9(3), pp.200-207.
Australia, E.J., 2017. The Adani Brief: What governments and financiers need to know about the
Adani Group’s record overseas.
Biggs, J., 2019. Adani and the War Over Coal [Book Review]. Chain Reaction, (135), p.46.
Reddy, P.M. and Rosencranz, A., 2018. Challenging the proposed Carmichael mine before the
UN. Environmental Policy and Law, 48(1), pp.31-36.
Cave, D. and Gillis, J., 2017. Large Sections of Australia’s Great Reef Are Now Dead, Scientists
Find. New York Times, 15.
Foxwell-Norton, K. and Lester, L., 2017. Saving the Great Barrier Reef from disaster, media
then and now. Media, Culture & Society, 39(4), pp.568-581.
STANLEY, F., ADANI'S CARMICHAEL COAL MINE AND HEALTH.
Smith, K., 2017. Galilee Blockade targets contractor over Adani. Green Left Weekly, (1138), p.8.
Lester, L., 2016. Containing spectacle in the transnational public sphere. Environmental
Communication, 10(6), pp.791-802.
Moon, E., 2017. Why does the Carmichael Coal Mine need to use so much water. The
Conversation. Available at: https://theconversation. com/why-does-the-carmichael-coal-mine-
need-to-use-so-much-water-75923.
McCalman, I., 2017. Linking the Local and the Global. What Today’s Environmental
Humanities Movement Can Learn from Their Predecessor’s Successful Leadership of the 1965–
1975 War to Save the Great Barrier Reef. Humanities, 6(4), p.77.
Online
POOR WATER QUALITY. 2020. [ONLINE]. Available through<
https://www.barrierreef.org/the-reef/threats/poor-water-quality>
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