04 Jun ANALYSE VARIOUS ASPECTS OF DISCLOSURE AND PERFORMANCE FROM A COMPANY’S ANNUAL REPORT
Question
Corporate Accounting
Assignment ( 35
Marks )
Objectives
This assessment item
relates to the course learning outcome 4: Analyse various aspects of disclosure
and performance from a company’s annual report.
Step 1 :15 Marks
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 “Find 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 2012 or 31 March 2012.
Do not use your firm’s interim financial statements or their concise financial
statements.
Within your firm’s
latest annual report, find its balance sheet.
Tip: Your firm’s
balance sheet may be called a range of different names, such as Consolidated
Statement of Financial Position.
From your firm’s
balance sheet, list each item of equity and write your understanding of each
item. Make sure you read carefully any footnotes for each item of equity and
also look at your firm’s Statement of Changes in Equity. Also discuss any
changes in each item of equity for your firm over the past year.
Were you able to
help each other understand the aspects of each other’s equity in your firms’
balance sheets? Why or why not? What remaining questions do you have about your
firm’s equity? What insights have you gained?
Submit the following
for Step 1:
1. Your firm’s latest annual report (either as a pdf or as a link to
the specific page on your firm’s website that has your firm’s latest annual
report).
2. A list of each item of equity of your firm (name and amounts for the
past two years) and your description (in your own words) of what each item is.
3. A description of
your discussions about the items of equity.Did these discussions help you understand
each item of your firms’ equity: if so, why; if not, why not? … were you
able to help othersunderstand each item in theirfirm’s equity:
if so, why; if not, why not?
Step 3:20 Marks
What is your firm’s
tax expense in its latest financial statements? 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.
Tip: Company tax
rates are: Australia (30%), New Zealand (2012: 28%; 2011 & 2010: 30%) and
UK (2012 & 2011: 26%; 2010: 28%).
What do you think
accrual accounting is? How is the concept of accrual accounting relevant to
tax-effect accounting?
Does your company
use tax-effect accounting? Why or why not?
Is your company’s
tax expense in their income statement the actual tax they paid to the
Government that year? Why or why not? What does the ‘tax expense’ item in your
firm’s income statement mean to you?
Does your firm have
tax assets or tax liabilities? If so, what are their amounts in your firm’s
financial statements? What do these amounts represent? What do your firm’s tax
assets or tax liabilities mean to you?
Please ensure you
read the relevant footnotes of your firm’s financial statements carefully and
include information from these footnotes in your answer.
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?
How to do well in
your assignment
Please adopt a personal style, using the
words ‘I’ and ‘me’. It is not necessary to adopt a formal, ‘academic’ style of
writing for this assignment. I am interested in you communicating clearly your
understanding and developing questions about the material in the assignment.
This assessment is an individual assignment
and is to be submitted online. Please submit your Assignment on Moodle as a
Word document (along with a pdf or link to your firm’s latest Annual Report).
When preparing your assignment, please refer
to the assessment criteria listed below as well as to any further advice I may
post on the course website.
Assignment
Criteria
Step 1
Submitted correct
annual report for your company 1
Insightful
description of each item of your firm’s equity – indicating a degree of
understanding of what each item is 7
Describe your
understanding of each item of your firm’s equity, and supported your emerging
insights and questions about how companies account for equity 6
Well communicated
and clear presentation 1
Total 15
Step 2
Clear description
of your firm’s income tax expense 1
Insightful
explanation of whether, and if so why, your firms’ income tax expense differs
from the corporate tax rate times accounting income 1
Accrual accounting
– what it is 1
Accrual accounting
– relevance to tax effect accounting 1
Why or why not
your company uses tax-effect accounting 1
Tax expense vs
actual tax paid 3
What the item ‘tax
expense’ means to you 3
Tax
assets/liabilities – identify and meaning 3
Describe how your
discussions with other students in the course (and also possibly with staff,
work colleagues, friends and family) helped your understanding of your
company’s income tax, and supported your emerging insights and questions
about how companies account for income tax 5
Well communicated
and clear presentation 1
Total
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.