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HI5020- Corporate Accounting

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Assessment taskSelect three public limited companies listed on the Australian Securities Exchange (ASX) that are in the same industry. Go to the website of your selected companies. Then go to the Investor Relations section of the website. This section may be called, “Investors”, “Shareholder Information” or similar name.In this section, go to your companies’ annual reports and save to your computer your firms’ latest annual reports consecutively for last three years. Do not use your companies’ interim financial statements or their concise financial statements. Please read the financial statements (balance sheet, income statement, statement of changes in owner’s equity, cash flow statement) very carefully. Also please read the relevant footnot

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Present assignment is analyzing the individual and comparative positions of three companies- Variscan Mines Ltd, Victory Mines Ltd and Viking mines Ltd. All three companies are in mining sector and we will look into the Equity, debt, cash flows, other comprehensive income and tax expenses for these companies.

Equity & Liability:

(i)                 Equity Component:

Equity funds are the internal available funds with the business. These are funds received by issue of shares, the part of profits kept with business in form of reserves and the accumulation of surplus. Same way losses accumulated in business is also shown. Negative retained earnings are the accumulated losses. Looking into the financials of the companies, below are the common elements:

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