Corporate And Social Accounting Accounting, Finance, SPSS Term Paper (Term Paper Sample)

Corporate and Financial Accounting
Table of Contents Page No.Introduction ……………………………………………………………….3-4Part A…………………………………………………………………………4-8Part B…………………………………………………………………………8-10Conclusion……………………………………………………………………..11References………………………………………………………………………….12
IntroductionHarvey Norman is a public listed company whose listing is done with the Australian Securities Exchange Limited and the main activity of the company consists of the integrated retail, property, franchise and digital enterprise. In Australia, the company is operating under a franchise system and delivers constantly a retail offering which is unparalleled to the consumers of Australia with an exclusive range of products, the technology of cutting-edge and leadership in the market in categories of key products (Stindl et al, 2019). The Company grants franchises to the proprietors who work independently under three brand names which are leading and they are Harvey Norman, Domayne and Joyce Mayne. The Proprietors Company sells products in different categories like electronic goods, bedding, and Manchester, furniture, appliances of the kitchen, computerized communications, small appliances, tiles and bathrooms, flooring and carpets. The brand name is considered as a retail icon overall Australia with 57 complexes franchised in New South Wales. in the Australian Capital Territory, 1 is situated, in Queensland 37, in Victoria 38, in Western Australia 17, in South Australia 10, in Tasmania 6 and the Northern Territory 2 is located.JB Hi-Fi Limited ( JB Hi-Fi) is a company that deals with the retailing of home consumer products. The company consists of two different segments for carrying out its business activities and the segments are located in Australia and New Zealand. The Company is involved in the sale of products related to consumer electronics and services which includes cameras, computer, musical instrument, televisions. The company sales different types of the disc-like compact discs, digital versatile discs, games and blue-ray discs, whitegoods, products of cooking and small appliances, products and services of telecommunication, an instrument related to music and content of the digital video. IT-related services and consulting services are also offered by the company. Different variety of solutions is offered by the company like government, corporate and education sales of products and services and replacements of insurance. JB Hi-Fi home roll-out is also offered by the company.40 stores of small appliances are there with the company. The report is prepared for explaining every item recorded in the equity and liability section of both the companies and the reasons for the changes over three years. In the second part of the report, the concept of small-proprietary companies, large proprietary companies, and the reporting entity will be explained.
Part A1) Owners Equity SectionHarvey Norman has recorded the following items under the owner's equity section. The contributed Equity for the year 2016, 2017 and 2018 is recorded at $385296000, $386309000, $388381000, Reserves are recorded at $155814000, $174,950000,$185384000 and retained profits is recorded at $2125186000, $2229200000 and $2337241000.JB Hi-Fi Limited has recorded the following items under the owner's equity section. The Contributed Equity for the years 2016, 2017 and 2018 are $49300000, $438700000 and $ 441700000.The Reserves are recorded at $27100000, $33200000 and $ 42700000.The retained earnings are recorded at $328300000, $ 463200000 and$ 381600000. Contributed Equity is th