Using Accounting For Decision Making

Thursday, 11 February 2016

Assignment 3

This is the draft for my Assignment 3

Monday, 4 January 2016

Analyzing financial statements

The statement is true that the future forecasts require the information and data that occurred in the past. The chapter starts off with the illustration of Sydney Fish Market and their investment strategy. The imaginations and expectation bore from the strategic illustration of the preceding data analysis bores investment. With all study and chapter scan written by the writer, it is very fair to say that he presents his ideas with exquisite examples and metaphors. As explained earlier the future of a firm or an investment company is predicted using the past, in this case, financial statements. Financial statement is the records and the ultimate design to better understand the insights and conditions. The values and numbers give the ability to the responsible individuals to create a viable project for the company.

This chapter clearly deals with the foundation that financial statements create for the justification and prediction of the firm’s future agenda. Financial statements revolve around the values and numbers, revenues and profits, income and equity. In plain words, financial statements illustrates how does the investment creates cash flow through the system to generate certain profit or loss to result final revenue. I can almost tell that restating and analyzing financial statements is quite a time consuming and frustrating process since it requires the manipulation of the values accurately. A slight misinterpretation in the data can destroy the whole structure.

Restating Millennium Hotel’s financial statements

Restating the financial statement for Millennium Hotels was quite a challenge. However, I learnt a lot during the process. Separating the operating and financial activities made me realize the difference and their role in the income statement. The financial statement as presented seems organized and everything seems to be at their places but I am not trying to exaggerate by saying that it is very time consuming and nail biting. There were several times that my calculations went wrong and I wouldn’t get the correct Net Profit. After a series of hair pulling and intense interpretation I somehow figured it out.

I will be very honest by saying that before reading chapter 4 when I found out about Restating financial statement I completely freaked out. I had absolutely no idea where to begin. But after scanning through the topics, it slowly came to me. The collaboration of income statement and balance sheet to produce statement of equity was illustrative to know about. I learnt the difference between operating activities and financial activities during the process and how they contribute to the comprehensive income. The operating activity is the core whereas the financial activity is the enclosure.

As a rookie in accountings, I will have to say that a single individual cannot solely perform this. I had to discuss many issues that I had with my classmates and lecturer. Group discussion is very much helpful in dissecting the values and data provided. A group insight is always better than an individual one. I had considerable amount of help from my colleagues in figuring out the tax benefit and the net profit and net tax. There were times where I stumbled upon the formulas and numbers making me almost crazy.

Tuesday, 1 December 2015

Top three blogs

The blogs presented by the students makes me feel so untalented and unworthy.

These are the blogs that I found rather impressive and brilliant.

· Renae Gordon

http://ladyofledgers.blogspot.com.au

The gateway to her blog already presents how dedicated and involved this person is with her blog. She has put forward all the graphical details to allure the user. The presentation of the financial statement through graphical representation foremost is incredible which makes it easier for the reader to interpret her findings. The memes she has included are relevant and funny. The key concept questions she has illustrated are quite reasonable and researchable. All in all, she has presented a quite entertaining and informative blog, which is why this falls in my top lists.

· Stephanie Catalan

http://myaccountingjourneybegins.blogspot.com.au

Stephanie has presented an impressive blog as well with quite descriptive and illustrated one. She has put forward her progress through the semester in her blog that is informative. Some of the videos she has posted are quite descriptive and conceptual which helped me understand some topics.

· Stephanie Downman

http://bytheseaaccounts.blogspot.com.au

I do not know how she did it but she has done an incredible job with the blog theme. It’s very alluring the texture and animations. She has also provided informative descriptions to the progress of her assessment

Thursday, 26 November 2015

Millenium Hotels

Millenium Hotels is a multinational resorts and hospitality management company residing in various parts of the world. The group of the company was started way back in the 1970s which took a great toll in their business when it was listed in the London Stock Exchange in 1996 and also voted the Best UK Hotel group of the year in 1997. The corporation has established a firm reputation and establishments around the world in Asia, Europe, North America and other parts of the globe. The management is reputed to provide luxury services to the guests in famous destinations in Middle East, China and Singapore.

With the development in years the group has been drastically improving in it's global revenue markets. The asset management activities in the group has also given to the rise in the revenue and profits which has been illustrated in the annual presentation reports. The business model the group has been adopting has proven the company to be ahead in its curve with the objective of long term returns with the integration of asset management techniques and hotel operations.