Corporate accounting primarily deals with the management of companies’ accounts. It deals with a wide spectrum of activities ranging from preparation of statements like, income and cash flow, to keeping track of the firm’s taxes. To ensure that students develop a deep understanding of the real-world applications of corporate accounting, universities have been handing out complex corporate accounting assignments. These assignments include tedious tasks which might involve going through a firm’s annual reports, describing its items of equity and assessing its income tax expenses. Owing to the complexity of these assignments, students sometimes struggle to make a submission on time.
Assignment Help Era is one of the leading providers of Corporate Accounting assignment help in Australia. Since, accounting standards vary on a country-by-country basis, we have a dedicated team of Corporate Accounting assignment writing experts, based in Australia. Our experts are Australian natives and hold a full-fledged understanding of Australian accounting standards. An added advantage is our unmatched knowledge of university specific guidelines and marking criteria. Our experts tailor assignments to the specific requirements of each assessment hence, providing winning solutions to the students who seek our services.
Few Areas of Corporate Accounting That We Assist With
Corporate Accounting is wide field of study and various types of assignments can be allotted to students as part of their university curriculum. Even students who are proficient with the theoretical knowledge of Corporate Accounting find themselves struggling when it comes to writing assignments. Coming up with insightful explanations by going over a company’s annual reports and assessing tax expenses is an error prone task. Our accounting assignment services provide help with all sorts of Corporate Accounting assignments.
Our experts are well-versed with all areas of Corporate Accounting. Some of the services that we have provided in the past are:
The below corporate accounting assignment sample will give you an idea on how our accounting subject matter experts approach your assignments;
200109 Corporate Accounting Systems
The practical project involves two parts:
Part A (50%)
The World Retailing Ltd acquires 80 per cent of the shares of Mark Construction Ltd on 30 June 2019 for a consideration of $584 000. The share capital and reserves of Mark Construction Ltd at the date of acquisition are:
There are no transactions between World Retailing Ltd and Mark Construction Ltd at the date of acquisition. All assets of Mark Construction Ltd are fairly valued at the date of acquisition, except for a major plant that had a fair value $25 000 greater than its carrying amount. The cost of the plant was $125 000 and it had accumulated depreciation of $90 000.
In addition, the World Retailing Ltd acquired 100 per cent of the shares of Adelaide Retailing Ltd on 1 July 2017-that is two years earlier. The cost of investment was $500 000. At that date the capital and reserves of Adelaide Retailing Ltd were:
At the date of acquisition all assets of Adelaide Retailing Ltd were considered to be fairly valued. Adelaide Retailing Ltd declared and paid dividend $120 000 on 30 June 2019. World Retailing Ltd incurred the following transactions with Adelaide Retailing Ltd during financial year 2018-2019:
Part B (50%)
The financial statements for year ending 30 June 2019 for the economic entity have been prepared on the basis of your journals from Part A. These statements have been presented to the Board of Directors.
One of the Board members pointed out that the new business acquired by World Retailing is a construction company. Its financial statements should not be consolidated because it is involved in construction, whereas all of the other companies in the economic entity are involved in retailing industry.
The Board is also alarmed that the economic entity’s balance sheet shows a deferred tax balance, when the accounts for World Retailing Ltd had no deferred tax asset or deferred tax liability.
As the financial accountant you are requested to prepare a response to the following questions:
(a) Should the financial statements of new acquired business, Mark Construction Ltd, be consolidated into the economic entity and why? (250 words maximum)
(b) Why does the economic entity have a deferred tax balance? (500 words maximum) You must make reference to relevant paragraphs of the Accounting Standard and/or AASB Framework and to other sources of material. Harvard Style referencing is expected. For details on the Harvard referencing system go to:
http://library.westernsydney.edu.au/uws_library/guides/referencing-citation (and click on ‘Harvard’ link).