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Corporation Accounting

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(ii)Discussing the cash flow statement items changes for the previous three years and making analysis by comparing each item of cash flow statement

The item changes in the statement of flow of cash for the previous years have been analyzed while preparing the statement of flow of cash. The cash flowed from the various activities as presented in the above table has been analyzed to obtain the net cash inflow or outflow of the said organisation. The net flows of cash of the items under the activities which are listed under the operating head are also analyzed to show values that are varied from one other. The total or net flows of cash of the various items from activities which are listed under the operating head are amounted to $1371, $3145 and $1526 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017). The total or net flows of cash of the various items from activities which are listed under the investing head are amounted to $651, $568 and $3146 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017). The total or net flows of cash of the various items from activities which are listed under the financing head are amounted to $3841, $3000 and $1855 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017). Thus, it can be analyzed from the above prepared table of the statement of flow of cash that the changes in the items of the three previous years can be determined easily.

Providing analysis for comparing the statement of cash flow each item

The statement of flow of cash each item shown under the head of activities from operations represents the source of cash generating of the given company. The outflow or inflow of cash from the presented items under the head of activities from the operations of the business shows the core services and products of the company. Moreover, the items that are presented under the heading of investing activities help to record the company or organisational investments. The recorded items under the head of activities from investment present the changes in assets, investment and the equipment. Generally, the investing activities of each item are considered to be accountable for the cash outflow of the company. The items of the statement of cash flow under the head of financing activities are considered to be accountable for the cash inflow of the company. Finance cost of transacting and the share issue proceeds from the activities of investing shows amount which is varied from one other. The amount analyzed for the Finance cost of transacting has amounted to $219 whereas the share issue proceeds have amounted to $4060 for the year 2017. Therefore, in this way, the analysis of comparing each item under the various head of activities in the state has been done.

Comprehensive   income statement

(iii)   Explanation of items understanding of Comprehensive Income Statement

According to Francis et al. (2015, p.1285), the items interpretation of the statement of income includes the analyzing of income statement each item of the organisation. The item of the statement of income that is recorded at the first place is revenue of the company. The revenue of the company for the year 2017, 2016 and 2015 are analyzed to $137, $4456 and $89 respectively (Bannermanresources.com, 2017). The items which are recorded after calculating the total revenue of the company in the statement are the expenditure made by the company. The revenue of the company has been observed to be increasing from the year 2015 to the year 2016 but again the revenue of the company decreased from the year 2016 to the year 2017. The other item of expenditure in the statement of income includes the expenses of depreciation, regulatory and compliance expense which amounted to $ 38 and $ 179 respectively for the following year 2017 and 2016. The total loss before deducting the expense of tax for the year 2017, 2016 and 2015 has been analysed to $2955, $302 and $4741 respectively. The net or total loss of the company after making deduction of expenses of tax has been analyzed to $2696, $157 and $ 4241 respectively. The net income of the company has been analyzed to $2231, $ 8762 and $1242 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017).

(iv) Demonstration of items that are included in statement of income

The statement of income items that are included in the statement are revenue’s interest, other income, benefit of the employees, cost of borrowing and many other items. The company’s sales or revenue is represented on the basis of growth of the organisation in the earlier or previous three years. The sales amount of the company or the organisation during previous three years helps in determining the revenue of the company.The expense of tax of the company has also been recorded in the above table for calculating the net loss or profit of the company. Therefore, the income of the company has been determined by making calculations on the various items shown in the statement of income.

(v)   Description of   items that are not included in statement of income

According to Drake et al. (2014, p.1673), the statement of income items that are not included in the statement are the cost of goods sold. The income statement items of expenses such as the professional fees, consultancy fees, corporate costs, marketing expense, are also not recorded in the income statement under the expenditure head.

(vi)   Identification of expenses of tax amount observed in the company’s annual report

The expense of tax of the company has been analyzed in the statement of income of the company. The expense of tax of the company has been observed to $259, $145 and $500 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017).

(vii) Explanation and identification of the expenses of tax observed in accounting income

The expense of tax of the company as reported in the income accounting of the organisation has been analyzed to $259, $145 and $500 for the year 2017, 2016 and 2015 respectively (Bannermanresources.com, 2017). The tax expense of the company is liability payable to the municipal, federal and the state government for the stated time period. The expense of tax of an organisation is evaluated by doing multiplication of the loss or profit of the company by the rate of tax of the same company.

 

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