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
Hi Kelly
ReplyDeleteI have had no response from members of my group so I hope you don't mind if I provide you a little feedback.
I thought your blog was great and I love the design. I find it interesting that your company has shut down after 50 years of operation, it certainly makes your research interesting and from a different perspective.
I like your draft work although I notice that you have only summarised Chapters 1 and 3. Martin would like us to read his work and provide feedback on some of our ideas, reflections and the reactions we may have whilst reading. I found it easiest to type out any comments I had whilst I was reading.
Please feel free to look at and comment on my blog and work: http://theadventuresoftanyahoward.blogspot.com.au/
Good luck! Tanya
DeleteHi Tanya
Thanks give me feedback I am very grateful :) Actually my situation as same as u.
Don't worry I will give u feedback
Hi Kelly,
ReplyDeleteI never thought that someone would be given a company that has collapsed. I wonder now how the process works around things such as dividends? I assume the equity investors will receive a share (if any) of the proceeds when the firm is liquidated? Any comments, anyone? Anyway, your work is concise and easy to navigate. The background on this blog page works so well!
Cheers, Helen.
Hi Hbensilum:
DeleteI don't know why I am so lucky with this company. About your question maybe u can link this http://www.smartcompany.com.au/finance/45731-asx-listed-publishing-company-commstrat-collapses.html
Because this firm already collapsed , so I could not got a lot of information.
Thanks your comment :)
Hey Kelly,
ReplyDeleteI have read your blog was good and easy to understand. Unfortunately your company was closed, but you did a great job on your assessment draft. Also I think you have to write about chapter 1 and 3 feedback with your idea.
Good luck, Christy
Hi Christy :
ReplyDeleteAbout step 4 I am still doing not finish. Thanks your comment :)
Wow! I really admire your efforts that you made on your assessment draft. It is very easy to understand. I have also been working on an accounting assessment draft. I am getting help from my uncle Dr. Aloke Ghosh as this is my first project.
ReplyDeleteHi Derine
ReplyDeleteThank u encourage me. I also hope u can smoothly finish ur assessment.
Good luck
Kelly
Hi Kelly I really like your KCQs，really easy to find the common .
ReplyDeleteHi Karry
DeleteThanks:)
Hey Kelly, I like your draft so far. What i like most are your KCQ's but in geneal your draft is very easy to understand. Most of the things and the main ideas are very clear. Keep up with the good work :) :)
ReplyDeleteHi Sindi
DeleteThank you for your appreciation. I also give ur feedback on your blog :)
Well, just like you said, your company sent so much for administration@@ perhaps they would not collapse if they cut down their manager number@@
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThat accounting assignment is a great way for accounting students to learn about making assignments. That assignment is made in comprehensive way and easy to learn. accounting homework answers
ReplyDelete