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Corporate Accounting Assignment Uk

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Corporate Accounting Assignment Uk

 Corporate Accounting Assignment Uk

 

Executive summary

            This assignment will show analysis of different financial result of the two selected companies. The two selected companies in this assignment is Xero Limited and IRESS limited.  In the first part the equity and the debt position of the two selected companies will be analysed and the items in it will be discussed. Then the cash flow statement three board categories will be analyzed. The other comprehensive statement of the two companies will be discussed and compared with each other. Then tax amount and rates of the two selected companies will be calculated and compared.

The first selected company in this report is Xero Limited and another selected company in this report is IRESS Limited. Xero limited is a software company, whose main business interest is providing online accounting and business service platform. Its main customers are small firms, accountants and bookkeepers. It operates in different market like Australia and New Zealand (Iress.com., 2018). IRESS Limited founded in 1993. The company is in the software development industry. The main business interest of the company is supplying technology solutions to the customer of different countries market like Australia and United Kingdom (Xero.com., 2018). In the report, selected companies corporate accounting and the treatment of taxation in the firms are to be discussed. The cash flows of the firms will be compared and evaluated in detailed along with analyzing the debt position, equity position and the other income that the firms have generated in the recent past. In addition, the tax amount and tax rate of both the companies are to be discussed.

It can be seen that there are total four items listed in both selected companies equity. The issued capital is the shares that any firm issues and investors invest in them in order to gain an ownership in the firm. The accumulated losses or retained earnings refer to the retained earnings and loss of the company of several years which are not distributed to a firm’s shareholders. Reserves refer to an amount of money appropriated by the company for fulfillment of any purpose in the future period. The amount of shared capital in IRESS Limited increased slightly in the year 2017 and increased significantly in year 2016 from their respective prior years and in Xero Limited also there is a pattern of increase in the amount of shared capital. The IRESS limited show a pattern of recording retained earnings in fluctuating ways as the amount of increased in 2016 but decreased in 2017 but Xero Limited keep on recording increasing amount of accumulated loss.  The reserve amount of both the selected companies recorded fluctuation amount in the three consecutive years but both the companies reserve amount has increased in 2017.

The cash flow from operating activities of Xero limited was in a bad position in the first two consecutive year as it has recorded negative amount in the first two years but the company has recovered some amount in 2017. The amount of cash outflow for investing activities is increasing in the three consecutive years. The amount of cash flow in financing activities is in positive which means the company is getting more finance form the market which is not a good sign for the long term sustainability of the business (Xero.com.,2018). 

 

List of references

HotCopper. (2018). Ann: 2017 Annual Report. [online] Available at: https://hotcopper.com.au/threads/ann-2017-annual-report.3419337/?post_id=24613713#.W6ujBHszbIU [Accessed 26 Sep. 2018].

Iress.com. (2018). Iress.com. [online] Available at: https://www.iress.com/downloads/GLB_Annual_Report_2017_HR_220218.pdf [Accessed 26 Sep. 2018].

Iress.com. (2018). Iress.com. [online] Available at: https://www.iress.com/downloads/GLB_Annual_Report_2016_220217.pdf [Accessed 26 Sep. 2018].

Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.



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