What similarities or differences are there between your firm and the firms of other people and in the way they present their financial statements?

The similarities between a few firms such as: Joyce Corporation Ltd, Big Air, RCG Corporation, Ahlers and Tabcorp Holdings are the classification of accounts under the five elements. When looking at other companies Financial Statements they have similar expense accounts such as: Administration Expense, Accounting Fees, Impairment and Advertising. They have similar assets and liabilities accounts such as: Cash and Cash Equivalents; Receivables; Property, Plant and Equipment; Payables; Investments; Issued Capital and Equity Compensation Reserve. The format and formulas between all of these companies are the same to calculate the Equity Balance at 30 June, Net Assets, Total Equity and Profit.

The major difference between a few firms such as: Joyce Corporation Ltd, Big Air, RCG Corporation, Ahlers and Tabcorp Holdings is that there companies are making a profit and increasing their Equity whereas Oz Brewing Ltd is making a loss and decreasing their Equity. Currently, Oz Brewing Ltd has a negative figure for Equity of the company. This meant that in the Income Statement these companies have higher and more accounts in the Revenue section. Another difference between these firms and Oz Brewing Ltd is that they have more Assets, Liabilities, Equity, Revenue and Expenses accounts which is because they have higher profit. I have also notice a few of these companies have subsidiary companies that are also making a profit and their subsidiary companies are listed in the notes section of the Annual Report.

Everyone in the Using Accounting for Decision Making used the Company Spreadsheet to present their financial statements. People are formatting this document the way their company has complete their Financial Statements. For example, in the Financial Statements if they have a thick bottom border underneath “Total Comprehensive Profit / (Loss) for the Year” then we do and where the company has the figures bolded in specific questions then we do.