Welcome to Live Chat

Welcome to LiveWebTutors Services, World's leading Academic solutions provider with Millions of Happy Students.

Call Back
logo

24x7 Support Available

To Get the Best Price Chat With Our Experts

chat now

In A Hurry? Get A Callback

shopping cart 0

Subject Solutions Code Description Price Delete

Amount Payable : $0

continue shopping proceed to checkout

World's Leading Assignment Library

Corporate Accounting

Question Preview:

In the file “Find Your Company” you will find the listed company you have been given for this course. Complete this assignment for the company you have been given. Please be careful to use the listed company you have been given. Your assignment will not be marked if you use a different company to the one you have been given; and you will be asked to resubmit your assignment using the right company.Go to the website of your company, by clicking on the URL next to your company in the list of companies in the file “Your Company”. Then go to the Investor Relations section o...

View Complete Question >>

Question Preview:

In the file “Find Your Company” you will find the listed company you have been given for this course. Complete this assignment for the company you have been given. Please be careful to use the listed company you have been given. Your assignment will not be marked if you use a different company to the one you have been given; and you will be asked to resubmit your assignment using the right company.Go to the website of your company, by clicking on the URL next to your company in the list of companies in the file “Your Company”. Then go to the Investor Relations section of the website. This section may be called, “Investors”, “Shareholder Information” or similar name.In this section, go to your firm’s annual reports and save to your computer your firm’s latest annual report. For example, these may be dated 30 June 2015 or 31 March 2016. Do not use your firm’s interim financial statements or their concise financial statements. You are need to do the following tasks:Please read the financial statements (balance sheet, income statement, statement of changes in owner’s equity, cash flow statement) very carefully. Also please read the relevant footnotes of your firm’s financial statements carefully and include information from these footnotes in your answer. Please remember some aspects of your firm’s treatment of its tax –can be a very complicated area, particularly for some firms.Within your firm’s latest annual report(i) From your firm’s financial statement, list each item of equity and write your understanding of each item. Discuss any changes in each item of equity for your firm over the past year articulating the reasons for the change. (ii) What is your firm’s tax expense in its latest financial statements? (iii) Is this figure the same as the company tax rate times your firm’s accounting income? Explain why this is, or is not, the case for your firm. (iv) Comment on deferred tax assets/liabilities that is reported in the balance sheet articulating the possible reasons why they have been recorded. (v) Is there any current tax assets or income tax payable recorded by your company? Why is the income tax payable not the same as income tax expense? (vi) Is the income tax expense shown in the income statement same as the income tax paid shown in the cash flow statement? If not why is the difference? (vii) What do you find interesting, confusing, surprising or difficult to understand about the treatment of tax in your firm’s financial statements? What new insights, if any, have you gained about how companies account for income tax as a result of examining your firm’s tax expense in its accounts?

View Less >>

Solution Preview

The present assignment is based upon the identification, evaluation and decision making possibility so as to ascertain the listed items for each equity section and to understand any such forms of changes in each of its item of equity. For this what are the implications of tax expenses that are being faced by Bank of Queensland Australia when compared to company’s tax rate will help to evaluate the probability of current deferred taxation on assets or liabilities in their present balance sheet. 

i)  Listings of each item of equity Bank of Queensland in Australia has certain listed items of equity as they help to value the assets that are lesser than the liabilities. Mainly equity is formulated with respect to Assets - Liabilities. This can somewhat have different implication in the following manner. Issued CapitalThese are referred to as those types of shares which are issued by the institution to its shareholders, in general sense, these are those shares that are allowed or are potentially held by the shareholders. For the year 2016 $3,243 Million was allocated as compared to $3,122 Million in the year 2015.ReservesThese are meant for provision, generally for a specific purpose as there are a lot of unknown expenditures that occur in the present year or in near future. As stated by Warren & Jones (2018), for meeting with such expenses Banks of Queensland has to make necessary reserves and surplus. As per their financial accounting statement for 2016, it depicted $33 Million as compared to $90 Million in the previous year. Retained ProfitThese are referred to as a certain percentage of net retained earnings which are not paid out in the form of a dividend. This is recorded in the head shareholder’s equity in the balance sheet and for the year 2016 Retained earnings were $311 Million as compared to $257 Million in the year 2015.

question Get solution

$15

Orginal Price : $19.50

Pay Now

Upload Assignments

250 words

side

Get Your Assignment

Don’t delay more, place your order now. Quick assignment help will be offered to you.

Order Now

CUSTOMER REVIEWS

Excellent

logo

Based on 702 reviews See all reviews here

One of the Best Service

I trust LiveWebTutors for my assignments because of their ability to deliver the perfect assignments time and again. Only a few of my assignments required minor revisions. The rest assured it is the best assignment writing service in the market.

Elizabeth
Sydney

Great Service and on time

I felt so exhausted and burdened with the large number of assignments I had to write and desperately needed someone to help me with all the writing and there was LiveWebTutors company on the internet. They finished my assignments before the due date and also offered me a first-timer discount.

Christina
Perth

One of the Best Assignment Provider

I ordered my Mathematics and Marketing assignments from them last month. I received the content on the set date. Most importantly, the assignments were well-written and plagiarism free. I scored a top grade for the assignment written by them. They are a reliable company.

Oli
Brisbane

Very Helpful Customer Service

I was quite unsure about getting my assignment written online but after coming across LiveWebTutors.com, all my worries have vanished. The quality of the assignments written by their writers is just invincible. Their customer support is very polite and helpful. You should try their service at least once

Kabir
Adelaide