$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

ACCT19061 Advanced Financial Accounting

tag 0 Download10 Pages / 2,309 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


1. a) Briefly outline your company's main business activities. This should include discussion of the market sector/s (for example, financial services, energy, consumer products and services, health care, telecommunications, information technology, utilities) in which your company operates andthe main products and/or services from which your company derives its income.   
b) Has your company made investments in the equity (shares) of other companies that do not result in your company having significant influence, joint control or control over the investee? To determine this, you should examine the asset section (both current assets and non-current assets) for something like ‘other investments’, ‘other current assets’, ‘other non-current assets’, ‘current financial assets’, non-current financial assets’. Then go to the note indicated next to the item which will provide details about any investments. If so, you should clearly indicate the number of the note in your answer.
c) Explain whether an investment in the equity of another company (that does not result in the investor having significant influence, joint control or control over the investee) satisfies the definition of a financial instrument.
d) What is a derivative financial instrument? Is an investment in the equity of another company (that does not result in the investor having significant influence, joint control or control over the investee) a derivative financial instrument?
e) Explain how an investment in the equity of another company (that does not result in the investor having significant influence, joint control or control over the investee) would be measured: (1) on initial recognition; and (2) subsequent to initial recognition?  
2. a) What is your company’s income tax expense (or income tax benefit) for the period covered by the Annual Report? If your company reports income tax expense, what is the amount of: (1) the current income tax expense; and (2) deferred income tax expense?
b) How would you explain current income tax expense and deferred income tax expense? How is current income tax expense calculated? How is deferred income tax expense calculated?
c) What are the amounts of deferred tax assets and deferred tax liabilities reported by your company? Are these amounts shown separately in the Statement of financial position or are they offset? Under what circumstances can deferred tax assets and deferred tax liabilities be offset?
d) Does your company provide a reconciliation of (1) income tax on the company’s profit before tax to (2) the income tax expense? What is the amount of income tax on the profit before tax? What is the amount of income tax expense? What are the reasons for these two amounts being different?  

e) Explain why the amount of income tax expense reported by a company may not be the same as the amount of income tax paid to the Australian Taxation Office (ATO).      

Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 10 pages, 1 USD Per Page

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). ACCT19061 Advanced Financial Accounting. Retrieved from https://myassignmenthelp.com/free-samples/acct19061-advanced-financial-accounting/deferred-tax.html.

"ACCT19061 Advanced Financial Accounting." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/acct19061-advanced-financial-accounting/deferred-tax.html.

My Assignment Help (2021) ACCT19061 Advanced Financial Accounting [Online]. Available from: https://myassignmenthelp.com/free-samples/acct19061-advanced-financial-accounting/deferred-tax.html
[Accessed 17 September 2021].

My Assignment Help. 'ACCT19061 Advanced Financial Accounting' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/acct19061-advanced-financial-accounting/deferred-tax.html> accessed 17 September 2021.

My Assignment Help. ACCT19061 Advanced Financial Accounting [Internet]. My Assignment Help. 2021 [cited 17 September 2021]. Available from: https://myassignmenthelp.com/free-samples/acct19061-advanced-financial-accounting/deferred-tax.html.

Are you looking for industry specified online assignment experts in Canada? Then MyAssignmenthelp.com can be your guiding star. For availing, the best assignment help in Ottawa or assignment help in Toronto, you can definitely get in touch with us. We are available at your service 24*7. To buy expertly written assignment online and for getting assistance on assignments related to wide range of subjects like auditing assignment help, consider taking help from us.

Latest Accounting Samples

ACCT6001 Accounting Information Systems

Download : 0 | Pages : 6

Answer: The case study for the project is to work as a coordinator for a project management company. The job profile says that the project coordinator had to keep a track of the commercial projects, the employees and the participation of the employees in each of the project under the company. It has been seen that one project would have multiple teams assigned to it whereas many of the projects does not have any team assigned to it. The employ...

Read More arrow

ACCT101 Financial Accounting

Download : 0 | Pages : 4

Answers: Q1.Explain the importance of Bank Reconciliation Statement and give real examples explaining all possible items that make differences between cash balance in general ledger and bank statement balance. The bank reconciliation statement (BRS) is a critical technique, which helps in maintaining the accuracy of the bank balance as reflected by the passbook and cashbook. The importance of a BRS is given below: It ensures the accuracy s...

Read More arrow

ACCM 4600 Accounting Theory And Contemporary Issues

Download : 0 | Pages : 7

Answer    AI: An Opportunity not a Threat For Accounting Firms The Purpose of the Report The content of this report mainly aims at proving that AI is not a threat to accounting but rather an opportunity which should be embraced. Based on the current prevailing situations and concerns relating to the benefits as well as threats of AI in accounting as a field, the content of this report will provide solution based on research. Various ...

Read More arrow

ACC705 Accounting Corporate And Reporting

Download : 0 | Pages : 5

Answers: Question 1 Acquisition analysis At 1st July 2016 Computation of goodwill or capital reserve through consolidation Net fair value of assets and liabilities of William Ltd = ($204,000) (equity) +$8,000* (1-.30) (inventory) + $5,000* (1-.30) (Land) + $15000* (1-.30) (plant) -$8000*(1-.30) (Dividend payable) = $218,000 Consideration transferred = $227,500 Goodwill = $9,500 Consolidated worksheet entries at...

Read More arrow Tags: Australia Lakemba Accounting ACC705 Accounting Corporate and Reporting RMIT University 

U22999 International Accounting

Download : 0 | Pages : 11

Answer: Introduction The concept of Harmonisation has been seen to collaborate with the various types of the systems in one particular method. The process of accounting policy is further seen to be maintained to increase the compatibility of the setting constraints and accounting practices and how can they change. The primary objective of the assignment is to provide information for the reader to assess the financial position. Harmonisa...

Read More arrow Tags: Singapore Medical Harmonisation University of Singapore 

5% Cashback

On APP - grab it while it lasts!

Download app now

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?