HI5020 Corporate Accounting Management

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HI5020 Corporate Accounting Management. (i)From your companies’ financial statements, list each item of equity reported and write your understanding of each item. Discuss any changes in each item of equity for your firms over last three years articulating the reasons for the change.

(ii)From your companies’ financial statements, list each item of liability reported and write your understanding of each item. Discuss any changes in each item of liability for your firms over last three years articulating the reasons for the change.

(iii)Provide a comparative analysis of the debt and equity position of the three firms that you have selected.

CASH FLOWS STATEMENT

(iv)From the financial statement of your chosen companies, list each item reported in the cash flows statement and write your understanding of each item. Discuss any changes in each item of cash flows statement for your companies over last three years articulating the reasons for the change. (v)Provide a comparative analysis of your companies’ three broad categories of cash flows (operating activities, investing activities, financing activities) and make a comparative evaluation for three years. (vi)Also provide a comparative analysis of the three companies that you have selected explaining the insights that you can get from the comparative analysis.

HI5020 Corporate Accounting Management

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OTHER COMPREHENSIVE INCOME STATEMENT

(vii)What items have been reported in the other comprehensive income statement for each company? (viii)Why have these items not been reported in Income Statement/Profit and Loss Statements? (ix)Provide a comparative analysis of the items shown in the other comprehensive income statement section for the three companies. If these items were included in the income statement / profit and loss statements of each company, how would the profit attributable to shareholders of the company be affected? (x)Should other comprehensive income be included in evaluating the performance of managers of the company?

HI5020 Corporate Accounting Management

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ACCOUNTING FOR CROPORATE INCOME TAX

(xi)What are the tax expenses shown in the latest financial statements of the three companies that you have selected? (xii)Calculate the effective tax rate for all three companies that you have selected. Effective tax rate is calculated as (income tax expense / earnings before tax). Which one of the companies has the higher effective tax rate? (xiii)Comment on deferred tax assets/liabilities that is reported in the balance sheet articulating the possible reasons why they have been recorded. (xiv)Was there any increase or decrease in the deferred tax assets or in the deferred tax liability reported by each of your selected companies?

(xv)Please calculate the cash tax amount for all three companies using the book tax amount, changes in the deferred tax assets and deferred tax liability (please do your own research for your better understanding of these concepts and the method of calculating the cash tax amount the book tax amount.)

(xvi)Calculate the cash tax rate for all three companies. Which company has higher cash tax rate? (Please do your own research to familiarise yourself with how to calculate cash tax rate). (xvii)Why is the cash tax rate different from the book tax rate?