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?

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/

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!

 

 

This is a picture of me at work with one of my machines!