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Corporate Accounting - Grain Crop Ltd

University: Regent College of London

  • Unit No: 9
  • Level: Undergraduate/College
  • Pages: 8 / Words 1956
  • Paper Type: Assignment
  • Course Code: M/508/0494
  • Downloads: 688
Question :

The purpose of this report is to evaluate corporate accounting practices, requirement of financial statement and so on in order to manage business activities appropriately. These financial statement will assist in determining how to manage funds for business uses.

  • Determine cash flow statement in the context of Grain Corp Ltd.
  • Evaluate other comprehensive income statement for Grain Corp Ltd.
  • Analyze accounting for corporate income tax of Grain Corp Ltd.
Answer :
Organization Selected : Grain Crop Ltd


Financial statements are important documents of company in analysing information in effective way. Present report deals with analysing financial statements of ASX listed company named as Grain Corp Ltd engaged in agribusiness. Financials are effectively assessed and items of the same are discussed quite effectually. Evaluation of firm's tax expense and all relevant items are explained.


1. Discuss items of cash flow statement of company in past years

Cash flow statements are listed below of Grain Corp Ltd which is one of the biggest firm engaged in the agribusiness mainly receiving and storing of food products and satisfying worldwide customers quite effectually. There are financials such as cash flow statement, balance sheet and income statement which provides company's management and external stockholders to effectively analyse and take enhanced decisions.









Payments to suppliers and workers







Proceeds from bank (stock funding)




Interest attained




Interest paid




Income taxes provided




Net cash flow from operating activities




Payment for Property, Plant and Equipment (PPE)




Making payment for computer software




Proceeds from sale of PPE




Proceeds from investment sales or business


Made Investment Payments




Dividend attained



Loans repaid by party


Net cash outflow from investing activities




Proceeds from borrowings




Loan Repayments




Paid dividend




Non-controlling interest (NCI) in period


Purchased treasury shares in year


Net cash flow from financing activities




Net decrease / (increase) of cash and cash equivalents (CCE)




Opening balance of cash




Effect of Exchange rate in year




Closing balance of cash




The cash flow statements are produced for three years starting from 2015, 2016 and 2017. It can be assessed that receipts are increased constantly as it was 4315.6 in 2015, 4350.5 in 2016 and maximised to 4824.1 in recent year. This means that organisation has extended credit but also receiving amount in the best possible manner. Payments to suppliers and employees have increased as well in past periods. The bank borrowings are increased as it was 9.1 in the financial year 2015, -4 in next year and reached to 42.2 in 2017 (Grain Corp Ltd. 2017). Moreover, interest income is being maximised as it was 2.6 in 2015, increased to 1.3 in next period and 2.4 in 2017. On the other hand, payments of PPE has been maximised in these years. Computer software payments is increased. It is evident from the fact that in 2015 figure was 12.8, decreased to 7.9 in 2016 and maximised to 26.5 in later year. Moreover, proceeds from sale of PPE has been accomplished as it was 6.2 in 2015, decreased to 4.4 and hiked to 34.8 in 2017. Proceeds from sale of investment has been attained in 2017 amounting to 106.6.

Investment payments are made in three years which are increased as it was 2.3, 5.9 and 35.6 in past years respectively. Loans repaid by parties was made in 2015 amounting to 19.1. Proceeds from borrowings are increased as it was 679.8 in 2015, 801.1 in next year and 941 in 2017. Loans are repaid by Grain Corp Ltd as figure has been hiked in 2017 to 1080.7 while it was 561.8 in 2015. Dividends are paid by company to shareholders as it was 28.6 in 2015, 22.9 I later year and increased to 42.3 in the latest financial year. Non-controlling Interest is 1.5 in 2017. Treasury shares are purchased amounting to 4.1 in 2017. Thus, ending cash balance of organisation is more than opening balance in 2017 which shows position is enhanced from past years (García-Meca, López-Iturriaga and Tejerina-Gaite, 2017).

2. Analysing cash flows of previous years

It can be analysed from the cash flow statements that cash position of company is overall good. Cash is properly used in various operational activities quite effectually. It is clarified by the operating activities that it was 271.1 in 2015. However, it was decreased to 151.5 in 2016 and again hiked to 300.5 in recent year. On the other hand, investing activities are also favourable as cash is being generated in the past years by selling of investments and fixed assets in the best possible manner. It is evident from the fact that in 2015, figure was 213.2 and increased to 277.6 while again reduced to 37.2 in 2017. On the other side, cash flows from financing activities were 89.4 in 2015, decreased to 81.6 in 2016. While, -184.6 of outflow is attained as cash has been utilised in paying bank borrowings and dividends. However, it can be assessed that overall cash position is good as closing balance of cash is favourable (Agrawal and Cooper, 2017).


3. Discuss items of other comprehensive income statement









Other comprehensive income

Items not to reclassified to Profit and loss account

Retirement benefit obligations (Remeasurement)




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