Here is my Draft for Assignment 3!
I'm off to Canada tomorrow morning. Hopefully I can find time to put down my snowboard, beers and whatever else i'll be into ;) and get this thing done! Yewwwfff
Thursday, 4 February 2016
Friday, 1 January 2016
Assignment 2 Drafts
Hi Guys,
My Assignment 2 Drafts are attached and ready for commenting.
Thank you very much
CT
Step 1
Step 2
Step 3
Restated Financials
My Assignment 2 Drafts are attached and ready for commenting.
Thank you very much
CT
Step 1
Step 2
Step 3
Restated Financials
Sunday, 13 December 2015
Week 3 Tutorial Questions
Hi all!
With the assignment submitted this morning here are my answers to the week 3 tutorial!
Please comment if you agree or disagree it would be much appreciated.
Question 1 - Group and Parent Statements
We are mostly interested in the financial statements of the entire group, not just the controlling business or parent. The parents statements wont contain much detailed information.
Question 2 - Which statement has 'non-controlling interests'?
The income statement has a section has a section where profit is divided between the parent company and the 'Non-controlling Interests', who are outside entities with equity interest in the firm.
Question 3 - What did I learn from the Balance Sheet?
From the balance sheet, I could see the elements of the accounting equation; Assets, Liabilities and Equity. From the balance sheet I learnt that the majority of UBM's assets are mostly Goodwill and Intangible Assets. Also I learnt from the balance sheet that current liabilities exceed current assets by $167.5m. Something I didn't understand was the meaning of 'put option over non-controlling interests'.
Question 4 - What did I learn from the Income Statement?
From the Income Statement, I could see revenue and expenses so I could see the Profit. It wasn't overly interesting however I would like to know what the columns for 'Before Exceptional Items' relates to.
Question 5 - What did I learn from the Statement of Changes in Equity?
The Statement of Changes in Equity, showed me the equity portion of the Balance Sheet expanded. It showed how changes occurred over the period of the report. Can you see the large change in Equity over the period of this report (2014)?
Question 6 - What did I learn from the Cash Flows Statement?
The Cash Flows Statement showed how the most important asset of all 'Cash'. This statement also showed an important transaction within the company; the acquisition of Avanstar. Revenue is shown flowing in from financing activities and flowing out in investing activities.
Question 7 - I have uploaded a week 3 questions to Peerwise.
With the assignment submitted this morning here are my answers to the week 3 tutorial!
Please comment if you agree or disagree it would be much appreciated.
Question 1 - Group and Parent Statements
We are mostly interested in the financial statements of the entire group, not just the controlling business or parent. The parents statements wont contain much detailed information.
Question 2 - Which statement has 'non-controlling interests'?
The income statement has a section has a section where profit is divided between the parent company and the 'Non-controlling Interests', who are outside entities with equity interest in the firm.
Question 3 - What did I learn from the Balance Sheet?
From the balance sheet, I could see the elements of the accounting equation; Assets, Liabilities and Equity. From the balance sheet I learnt that the majority of UBM's assets are mostly Goodwill and Intangible Assets. Also I learnt from the balance sheet that current liabilities exceed current assets by $167.5m. Something I didn't understand was the meaning of 'put option over non-controlling interests'.
Question 4 - What did I learn from the Income Statement?
From the Income Statement, I could see revenue and expenses so I could see the Profit. It wasn't overly interesting however I would like to know what the columns for 'Before Exceptional Items' relates to.
Question 5 - What did I learn from the Statement of Changes in Equity?
The Statement of Changes in Equity, showed me the equity portion of the Balance Sheet expanded. It showed how changes occurred over the period of the report. Can you see the large change in Equity over the period of this report (2014)?
Question 6 - What did I learn from the Cash Flows Statement?
The Cash Flows Statement showed how the most important asset of all 'Cash'. This statement also showed an important transaction within the company; the acquisition of Avanstar. Revenue is shown flowing in from financing activities and flowing out in investing activities.
Question 7 - I have uploaded a week 3 questions to Peerwise.
Thursday, 3 December 2015
Assignment 1 Draft
HI All,
Thank you for checking out my assignment and providing feedback.
Click here to see a draft of my Assignment #1
Click here to see my Company Spreadsheet
Best Regards
CT
Thank you for checking out my assignment and providing feedback.
Click here to see a draft of my Assignment #1
Click here to see my Company Spreadsheet
Best Regards
CT
Thursday, 26 November 2015
Chapter 1: A way of viewing a business. Question 2
Here are three assets, liabilities and equity items from my firm UBM. I found these on the statement of financial position (balance sheet) from the 2014 annual report.
Assets:
1) Trade and other receivables: I had no idea what this was, however, from looking through the notes it appears to be amounts UBM have invoiced, therefore revenue to be received. These invoices will be paid providing future economic benefit.
2) Cash and cash equivalents: Cash which provides future economic benefit.
3) Assets of disposal group classified as held for sale: This is relating to groups disposal of units within UBM. These assets will be sold for future economic benefit.
Liabilities:
1) Current tax liabilities: This is recognition of unpaid tax that is expected to be paid to tax authorities and will use up future economic benefit.
2) Trade and other payables: These are amounts outstanding for purchases and ongoing costs, which will be paid at some point using up future economic benefit.
3) Provisions: What does this mean? From the notes they are a recognised obligation of a past event, put aside for future liability and the use of economic benefit. Examples: Guarantees, losses, deferred tax.
Equity:
1) Share Capital: Capital that has come from issuing shares increasing the value of interests of the owners.
2) Share Premium: The difference between selling price of shares and their initial value.
3) Other reserves: If anyone could please comment on what this is? In the notes Merger Reserve, Foreign Currency Translation Reserve, and ESOP. My question is how exactly these are equity? For example how does an 'employee stock ownership plan' increase value of interest of owners equity?
Assets:
1) Trade and other receivables: I had no idea what this was, however, from looking through the notes it appears to be amounts UBM have invoiced, therefore revenue to be received. These invoices will be paid providing future economic benefit.
2) Cash and cash equivalents: Cash which provides future economic benefit.
3) Assets of disposal group classified as held for sale: This is relating to groups disposal of units within UBM. These assets will be sold for future economic benefit.
Liabilities:
1) Current tax liabilities: This is recognition of unpaid tax that is expected to be paid to tax authorities and will use up future economic benefit.
2) Trade and other payables: These are amounts outstanding for purchases and ongoing costs, which will be paid at some point using up future economic benefit.
3) Provisions: What does this mean? From the notes they are a recognised obligation of a past event, put aside for future liability and the use of economic benefit. Examples: Guarantees, losses, deferred tax.
Equity:
1) Share Capital: Capital that has come from issuing shares increasing the value of interests of the owners.
2) Share Premium: The difference between selling price of shares and their initial value.
3) Other reserves: If anyone could please comment on what this is? In the notes Merger Reserve, Foreign Currency Translation Reserve, and ESOP. My question is how exactly these are equity? For example how does an 'employee stock ownership plan' increase value of interest of owners equity?
My Company Is UBM! (United Business Media)
The company that I have been assigned is UBM. UBM is the worlds second largest event organiser who globally coordinates events that enable business to interact with each other. Events is the primary business segment of UBM and generates revenue from: exhibitors purchasing space at tradeshows, through sponsorship and from entrance fees. In 2014 UBM purchased a large American based events company, 'Avanstar', in order to optimise their market presence in the events industry; one consistently showing strong growth and attractive margins.
Another segment of UBM is the company 'PR Newswire' that provides communications products and services such as media points and websites offering ways for businesses to reach target audiences.
Furthermore, UBM offers other marketing services creating a range of specific digital and print products such as websites and digital directories, again, enable clients to reach audiences.
UBM began in 1918 as United Newspapers Limited and other companies that now make up UBM stretch back over 150 years, for example, Building Magazine launched in 1843. Over the last thirty years UBM has owned, bought and sold many media businesses during the evolution in becoming the global events-led marketing and communications services business we see today.
UBM C.E.O Tim Cobbold explains UBMs 'Events First' business strategy.
Source: http://www.ubm.com/
Another segment of UBM is the company 'PR Newswire' that provides communications products and services such as media points and websites offering ways for businesses to reach target audiences.
Furthermore, UBM offers other marketing services creating a range of specific digital and print products such as websites and digital directories, again, enable clients to reach audiences.
UBM began in 1918 as United Newspapers Limited and other companies that now make up UBM stretch back over 150 years, for example, Building Magazine launched in 1843. Over the last thirty years UBM has owned, bought and sold many media businesses during the evolution in becoming the global events-led marketing and communications services business we see today.
UBM C.E.O Tim Cobbold explains UBMs 'Events First' business strategy.
Source: http://www.ubm.com/
Sunday, 22 November 2015
Welcome to by Blog for ACCT11059
Hi all welcome to my blog!
My name is Christian, I'm 26, live in Newcastle N.S.W and am enrolled in Bachelor of Business and ACCT11059 via flex this term.
I work full time as Base Chief Engineer for Australian Helicopters and am looking forward to completing my studies to transition into management. Our operation in Newcastle provides the of two helicopters 24 hours a day to the Port of Newcastle conducting Marine Pilot Transfers.
My interest are Wakeboarding, Snowboarding, travelling and hanging out with mates and my pets.
I'm looking forward to being able to use accounting for decision making, should be good!
Cheers!
My name is Christian, I'm 26, live in Newcastle N.S.W and am enrolled in Bachelor of Business and ACCT11059 via flex this term.
I work full time as Base Chief Engineer for Australian Helicopters and am looking forward to completing my studies to transition into management. Our operation in Newcastle provides the of two helicopters 24 hours a day to the Port of Newcastle conducting Marine Pilot Transfers.
My interest are Wakeboarding, Snowboarding, travelling and hanging out with mates and my pets.
I'm looking forward to being able to use accounting for decision making, should be good!
Cheers!
This is a picture of me at work with one of my machines!
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