ACCT11059 USING ACCOUNTING FOR DECISION MAKING
ASSIGNMENT 1
STUDENT NAME: PIN TZU SHU
STUDENT ID: S0267098
Step 1 :
Personal profile set up wtih a photo and descriptions of photo as well as a brief information
about myself and a link my personal blog: http://professionaccounting.blogspot.com.au/
Step 2 :
Background information about my company
Comments/KCQs
Comments on other's blogs
My company link: http://www.commstrat.com.au/
PS. My company is already closed down, so you guys will not be able to open this link but I provide another link welcome to check out
Link to video : https://www.youtube.com/watch?v=GJ-oU30QHM0
About CommStrat
Commstrat is a very large company in Australia which established in 1963 and become ASX-listed company in 1986 that provides publications, conferences and events in many industries
- Involving IT, Finance, Engineering, Education and Sustainability in both the private and public
sector. It had been facing many issues over last 12 months such as sharp reductions in
discretionary spend in key customers segments, particularly local government, and structural
change in CommStrat's online job advertising business which all leads to serious financial
losses for this firm. The company has been operating for more than 50 years and collapsed
on February 2015.
For anyone that is interested in their story can use the below link to read more
CommStrat annual report 2012
CommStrat annual report 2013
KCQs about CommStrat
I found difficult to understand some terminology that is presented in the finance report for instance, what is exactly provisions meaning? I had use dictionary to check this word but I still confusing , so I would like to know this mean.
In changes in equity I did not understand this report want to show is and Why this important for firm?
This company had seriously finance issue. I found out their comprehensive income spent a large amount of money in administration expenses and total comprehensive income was negative number after that I want to know more about CommStrat detail but unfortunately I could not into their company link and I had done some research that I found this company already collapsed on February 2015.
In changes in equity I did not understand this report want to show is and Why this important for firm?
This company had seriously finance issue. I found out their comprehensive income spent a large amount of money in administration expenses and total comprehensive income was negative number after that I want to know more about CommStrat detail but unfortunately I could not into their company link and I had done some research that I found this company already collapsed on February 2015.
My three top blogs
I really like Natasha's blog and it attracted me with the use of the colour and funny pictures in her blog which made me want to read more articles from the blog. I learnt from Natasha's blog that Coventry Group is facing issues with a strong Australian dollar, show demand for product, having to sell the product at a lower rate to be competitive thus lowering the profit and the most worrying-being cut out of the deal. Overall, I read a lot usefully information from the blog and make me realize how hard is the current business environment for some of the big companies.
I really like some of the pictures from Natty's blog. By browsing through all that pictures it makes me want to more about this company. It was a good idea to provide nice photos to bring people's attention and tell them the stories afterwards. Prior to read Natty's blog. I never heard about Desane Group Holdings. After read articles about this company. I found that this company has a very smart investment strategy that they only invest in properties value between 5 million to 15 million which they owned and managed the properties.
Kailee's blog provides a lot usefully information for Goodman Fielder with a very clean format. Prior to read Kailee's blog I didn't know much about this company. After read Kaliee's blog I had a better understanding of the company and knew that it looks like a Singapore based oil company will soom be taking over them.
Step 3 :
Financial statement of excel spreadsheet
Step 4 : KCQs
Chapter 1 : A way of viewing business
-What actually is accounting ?
-The concept of accounting and how it connects to the business realities of the firm
-Different types of business
-The history of accounting and how it first started
- Accounting uses two types of books: journals and ledgers
- A journal includes the daily transactions of a company such as sales and purchase
- What does proprietorship?
- Fundamental accounting equation is Assets= Equity+Liabilities
- What does five elements of accounting?
Chapter 3 : Introducing financial statement
-There are four ordinary aim financial statement that include balance sheet, income statement, statement of changes equity and cash flow statement
-Every business is constantly moving
-Financial statements help business to meaningfully engage with the future economic and business realities of firms
-The firm balance sheet show that it financial position on a particular day
-The firm income statement shows how things are changing in a firm over a period of time, usually one year
- Cash inflows and outflows during the period and closing cash balance
-Dividends (D) =Operating cash flow (C) -Capital outlays (I) + Net cash flow debt owners (F)
-What actually is accounting ?
-The concept of accounting and how it connects to the business realities of the firm
-Different types of business
-The history of accounting and how it first started
- Accounting uses two types of books: journals and ledgers
- A journal includes the daily transactions of a company such as sales and purchase
- What does proprietorship?
- Fundamental accounting equation is Assets= Equity+Liabilities
- What does five elements of accounting?
Chapter 3 : Introducing financial statement
-There are four ordinary aim financial statement that include balance sheet, income statement, statement of changes equity and cash flow statement
-Every business is constantly moving
-Financial statements help business to meaningfully engage with the future economic and business realities of firms
-The firm balance sheet show that it financial position on a particular day
-The firm income statement shows how things are changing in a firm over a period of time, usually one year
- Cash inflows and outflows during the period and closing cash balance
-Dividends (D) =Operating cash flow (C) -Capital outlays (I) + Net cash flow debt owners (F)
Step 5 :
Individual feedback with other students
