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Assignment OneSteps: Two, Three, Four, Five & SixChapter 2 and Chapter 3My Firm: By Kylie Boni STEP 2: Blog/Moodle Profile Links: My blog: Profile: 3: Initial Thoughts: Finding out my company last week, there was a lot of mixed emotions. I was nervous and excited all at once. Will I know the company I am given? Will it be in Australia? What if it is in another country? Where will I start? When the time came, I logged in, downloaded the spreadsheet, found my name and saw it said Marston’s PLC. Well I was even more nervous. I had never heard of them. Once I clicked on the link and found out they were located in the UK, I quickly called to my husband to see if he knew anything about them seeing as he grew up in Scotland. A simple No was the reply. Was I disappointed at this stage or unhappy with my company? No, I don’t believe I was. I was more intrigued as to what I would find out. So off I went looking for anything I could find on Marston’s plc. The more I looked the more I liked. Here is a you tube video of the drone footage of one of their breweries, I think it was very impressing. . I am definitely happy with the company I have received, thank you.Link to Financial Reports:2017 Annual Report Link Annual Report Link Firm:After browsing Marston’s plc website to find out more about the firms’ operations and activities, I set off to see what news articles I could find. Marston’s plc is in the restaurant, pub and brewing industries. They run many pubs which have restaurants and hotels (Inns) attached and they also have brewing facilities throughout the UK. They not only pride themselves on making conscious efforts to reduce their carbon footprint, they also pride themselves on taking on apprentices and also ensuring other staff members progress in the company. There were two articles in which I found interesting: “Friday 12th July 2019 Marston’s?wins national recycling award:”?and also “Friday 6th September 2019 Marston’s?shortlisted for IIP award for apprenticeship programme”. These articles were found on the following link: I found these interesting as they are proof that they practise what they say they are about. Background Information: Marton’s plc was originally started back in 1834 by John Marston at Horninglow Brewery at Burton upon Trent. Back then the company was known as J. Marston and Son until 1890 when Marston’s & Son Ltd was registered and became a limited liability company. In 1898 Marston’s amalgamated with John Thompson and Son Ltd then in 1905 they merged with Sydney Evershed to form Marston, Thompson and Evershed, they continued trading as the merged company until 1999 when Wolverhampton & Dudley Breweries purchased the company. It wasn’t until 2007 that Wolverhampton & Dudley Breweries plc changed their name to Marston’s plc. (ref: )Although the company name has changed over time, they have been running for over 180 years. They currently have over 14,000 staff working for them with many more partnerships. Marston’s plc currently operates six breweries and over 60 of the country’s ales. As well as this the company owns approximately 1,400 pubs and runs Marston’s Inns (hotels) which has been going over 100 years. (ref: + ) Marston’s is currently a listed company on the FTSE 250. Due to Marston’s industry being restaurants and pubs they had a major drop in their shares on the 17.3.2020 due to the COVID 19, share prices dropping to 22.2 on the 17th March 2020, down from 107.50 on the 20th of February 2020. (ref: ). I will be keen to have another look at Marston’s Annual report for 2020, I think this will be interesting due to the current crisis the world is facing. I have attached a link to my blog for further reference: and KCQS on Marston’s plc Annual Report 2019: I first opened Marston’s plc annual report, I was shocked to say the least. 140 pages long, when was I going to find time to read it all? Between work, family commitments, and completing the study guide when was I going to be able to read this? Well, I just had to make time, late nights it is. As I started to scroll down to get to the beginning my first reaction was this layout is very appealing, an eye catching front cover followed by a snapshot of the year (revenue, profits, dividends per share, loss total and percentages), however don’t be fooled the numbers are what hit me first not what the numbers were for. Why, because the numbers are in extra-large font whereas the headers are in very small font. I gather they want you to see the numbers first, a very good marketing tool to get your interest. I also noted that the figures didn’t show any negatives and it isn’t until you actually read their header is it obvious whether it is a profit or loss. On I went reading it seemed there were lots of happy photos and some statements from staff. I had best not forget about the pictures of the food and beverages, didn’t they look delicious! I Keep scrolling more pictures and more impressive numbers with very small headers as to what they relate to. This annual report is definitely in my mind focussed on investors. It is definitely a marketing tool for potential investors. It wasn’t until page 6 I finally came across the Chairman’s statement. I was intrigued to read Marston’s plc had no plans for new openings in 2020. My initial thought was why? Aren’t new builds or purchases of new facilities a great way to increase your revenue and assets? Reading on William Rucker goes on to mention Marston’s operational and investment priorities will be focused on driving exceptional performances from the assets they already have in the portfolio. This along with debt reduction and their waste and energy use reduction is their strategy for 2020. Their aim to reduce their carbon footprint gives me a feeling of gratefulness toward the company. Is this an attempt to lour me in if I was an investor? Either way I am still liking the fact that they are reducing their impact on the environment and partnering with a company (rapid electric vehicle) becoming the first pub company to roll out rapid chargers for vehicles across their sites. Impressive and well-done Marston’s plc on assisting the reducing your impact on the environment. ( – refer page 21). “Our corporate strategy centres on creating more happiness, delivering more experience and enabling more opportunities for our people, our customers and our stakeholders, every day.” With this strategy in place it provides Marston’s two ultimate key objectives being: “Operating high quality pubs and lodges offering great places to drink, eat and stay and Operating a ‘best in class’ beer business with a wide range of premium and local brands and great service.” In keeping with this strategy, I feel the areas of the business that are most important and critical to Marston’s doing well is their investment in high calibre and skilled staff members, training and development. Their people strategy is built up of the following four strategic priorities: How they bring staff in – how they onboard staffHow they treat their staff – creating a positive work environment, where staff are able to voice their opinions. How they grow their staff – supporting staff personal and career development.How they enable their staff – a rewards plan which focuses on delivering the basics to inspire and motivate their staff. Being in the restaurant and pub industry Marston’s customer facing staff are imperative to how profitable the firm can be. Continuing reading I stopped to at the Board of Directors page, remembering the introduction of the study guide and the comment about 50% of directors have accounting backgrounds. My thought was let’s check this out. After reading about each director I confirm the following is correct: Four out of the Eight Board of Directors are Qualified Chartered Accountants / has previous experience as a Financial Controller and the Group Secretary is a qualified chartered accountant. Whilst reading Marston’s Annual Report there were 2 main key challenges, I felt that Marston’s PLC were facing within the 2019 reporting period. The first was the Brexit in the UK and the uncertainty it brings into the economics of the UK. The main focus for Marston’s during this time was the continuity of supply of food and drink from Europe. Marston’s not only increased their stock supplies they also had a focus on identifying alternative suppliers in the event problems arose with the EU. I feel this was a good strategy and that they have seemed to be meeting this challenge head on.The entire sector faces significant cost challenges and skill shortages according to William Rucker in the 2019 Annual report. I feel That Marston’s are tackling their challenges head on also as they have invested significantly in training and development of the Pub teams of all levels. Marston’s plc has their own talent academy which offers in-depth face-to-face and online training. This was one of the factors contributing to Marston’s plc winning the caterer’s apprenticeship employer of the year award in 2019. Reference for the award: according to their annual report Marston’s looks to invest a further ?2 million into training and development in 2020. reference for key challenges: ( - refer page 21)Once I got to the Financial statements section, I firstly came across the Five-Year Record. I noticed that over the past 5 years since 2015, 2019 was the first year in which Marston’s produced a loss and their net assets dropped. My first thought was why? Was it because of Brexit? Was it because of the increase of costs? Or was it because of the Debt reduction focus? Looking at the Income statement there was a large increase in financial costs during 2019, and I could see that it was to do with the “interest rate swap movements” line item. What does this mean? I couldn’t see significant increased in operating expenses between 2018 and 2019 though, sure there was between 2017 and 2019 from what I can see in the reports. I decided to try look at the notes on the reports. As I began, I started to feel overwhelmed. What does all this mean? I found the report notes very confusing and hard to get my head around all the new terminology, and to be honest I think I have overdone the late nights this week trying to ensure I have ALL the small details required in this assignment. I will have to come back to this after a weekend off, I think. Well coming back to the financial statement this week. I feel refreshed so I decided to have another look. Firstly, looking at the Group cash flow statement I noticed a continual loss since 2016, I know that without cash the business will go into liquidation. Therefore, if Marston’s has continually had a negative cash flow how are they still going? This concerned me so I looked further into it and looked at the balance sheet. Here I found the Cash or cash equivalent line of the report. Thankfully they still have cash/cash equivalent but if the trend of losses continues it won’t be good in my opinion. I also noticed another cash deposits line in the Balance Sheet, reading the notes I it was a 120m pound drawn down under the liquidity facility this happened in 2017. From that I then investigated further on the Balance sheet and Cash Flow Statement, it seems they repaid 118m pound back in 2019, did I read this correctly? Between 2016 and 2019 Marston’s has lost 148m pounds with a total balance now of 37.6m pounds remaining in cash/cash equivalent. Along with this Marston’s also lost Equity between 2018 and 2019, this I believe would be because of the sale of assets, a part of their attempt to decrease Debt. Looking at the Income statement I noticed the overall profit/loss was a negative too. Wow, Marston’s didn’t have a great year from what I can see. Although their Revenue was up and remembering they mentioned one of their key challenges was the rise in operating costs I can also see this has dramatically increased from 2017 to 2018 and then only slightly increased again in 2019. One of the major increases in expenses I saw though was the Financial costs, in particular the interest rate swap movements. What are interest rate swap movements? After some research it seems it is an agreement between two parties, who agree to a fixed term and interest rate for money to be paid back, but why? I would like to get more direction and understanding regarding this term, along with many other terms used. ConcernsCurrently my concerns revolve mostly around the Financial statements and being able to read and to understand them. After looking through Marston’s Annual reports and at the financial statements. I felt I become overwhelmed. All the new terminology used, all the additional notes, pages and pages of notes in minuet font. If I wasn’t blind, I sure feel I am when trying to read their font. I get the feeling they don’t really want you to read the notes. What if I can’t read their financial statements to confirm a reality? Will I end up a bad accountant? Will I totally fail this course? My Top 3 Blogs Being a first-time blogger myself, choosing a top three was a very difficult decision to make as there were so many fantastic blogs to choose from. Well done too all our peers on producing great blogs. However, there were a few things that made these blogs stand out for me, so I have detailed them below. Take a look as I thoroughly enjoyed exploring and reading these three blogs.Chantal Russel -? My favourite Blog, Chantal your blog really caught my eye from first site. I enjoyed reading about you and your travels. I can relate to the putting university off and wishing I had started this course much younger. I can resonate with your header “A chance to be more than just a mum….” Some days I feel as though we are a DVD on repeat wake up, get children ready for school, drop off, work, pick up children, homework, cook dinner, bath and bedtime, sleep and repeat! Just like the picture of the camels in a line, I bet they do that same walk day in and day out. I really enjoyed learning more about what your company Leaf Resources actually do, very interesting read and I totally agree that this is a very controversial industry with so many different views. I look forward to hearing whether you end up agreeing or disagreeing with the Malaysia project. Great wok Chantal. To our peers well worth a look and read.Chloe Barnfield -? Chloe you have done a great job with your blog. At first sight I was drawn in by the picturesque landscape on your home page along with a really catchy phrase “Be Audit you can be” loved this and it continues to stay in my mind. Great play on words, well done.? I found navigating through your blog easy. I am so impressed that you are taking on a dual degree and studying full time as well as working full time. My hat goes off to you. I could definitely resonate with your nerves and excitement at commencing University as I too felt the same way. Your Alice in wonderland quote “Every Adventure requires a first step” with the background of two horses with their heads together, I imagine they are saying you have got this, you can do anything you put your mind to. I thoroughly enjoyed reading about your company Mercury. When I first saw the logo yes it was very eye-catching colour wise, however didn’t picture it to be an energy company. After reading on I can understand why they have a Bee as a logo… naturally generated energy, makes sense. Your company is a fairly young company compared to mine, so I look forward to seeing more about your company as you continue to post blogs. Well done on a fantastic blog, well worth a look and read.Nicole Hanson –? My third top blog and it was a hard choice between a few others, however Nicole your blog is enjoyable to read. I like how Nicole ends each of her Blog posts with a comment and photo of where she is studying or who her study buddy is, these final statements give a sense of happiness. I like the picturesque landscape on your home page as it provides a sense of tranquillity. Your blog is simple yet easy to navigate which is something I need being new to the whole blogging scene. I look forward to reading more about your company Oldfields once you have posted as I believe your post will be very interesting. Well done on a really good blog.Peer Discussion: So far, I have been able to have a lovely discussion with Stella during a PASS study group. Lead by Danielle Bradley. Stella Tremayne and I spoke about the Similarities and Differences between our two companies. Stella has the firm Qube Holdings. I had heard of Qube before having worked in a Tile company which imported tiles and bathroom accessories from Italy, Spain and Sri Lanka. However, Stella had not heard of them prior which brings me to my firm in which I had never heard of either. As Stella and I chatted we come to the realisation that Both our companies had Long Annual report which to be honest overwhelmed us a lot. We all found that the Chairman’s Statement/Chairman’s Message within the Qube annual report was very positive, I would say just like a sales pitch ( I know this because my husband is a Salesman and boy do I get the sales pitch when he wants to spend money on his race car!). As well as these similarities we also noticed some differences. First and foremost, our firms are in two entirely different industries, I mean like chalk and cheese! Qube is in Freight/Logistics and Marston’s is in Restaurants, Pubs and Inns (Hotels), not to mention we are also in totally different countries. In saying this though Marston’s and Qube’s industries would likely cross paths at some stage as Marston’s require food and drinks from the EU as mentioned prior. Sure, it might not be Qube themselves as they are Australian based but definitely the same industry. Another difference we came across while looking at both firms Reports was that Marston’s used the wording “Group” for the reports whereas Qube used the word “Consolidated”. Further to the above discussion see comment on Nicole Hanson’s Blog post regarding her firm Oldfields.“Hi Nicole, again another great post. I had a look at Oldfields Annual report and learnt some things along the way. Firstly, I had no idea who Oldfields was until your earlier blog post "Who is Oldfields", thank you. After reading your original post I was looking forward to your next (this post). I went on to look at Oldfields Annual report to see what more I could learn about your firm. I learnt a few things, firstly that their main strategies for this financial year will be pushing revenue and increase their assets again as they decreased assets last financial year. Also, I wonder why their all their financials decreased over the last period, as they stated there was no changes in the state of affairs over that reporting period, did you find out anything further? Also interesting was they have subsidiaries in USA, China and New Zealand. I also noted some similarities and differences between Oldfields (your firm) and Marstons PLC (my firm). The first similarity I noticed as soon as I opened the annual report was the bright front page. Immediately I thought of Marston's and how they too had pictures on their front page, I believe these are similar and they are using them as a marketing tool for new investor opportunities. second, I noticed that over 50% of the directors of your company have either accounting degrees or finance experiences. The third similarity I noticed was that your financial reports are set out very similar to mine, although one of the differences I noticed was they used different titles for their Financial reports. Oldfields used "Consolidated" whereas Marstons used "Group", in keeping with this difference oldfields also used Profit and Loss, and Financial Position where as Marstons used Income statement and Balance sheet for the report titles. Another difference was that Oldfields as I noticed most of our peers’ firms have been are in completely different industries, there is always a link between firms usually that Marstons would use the products services of these companies. for example, Marstons would likely use products and services from oldfileds (or similar) for refurbishing their Pubs/Inns or even repair work at the breweries. Lastly, I notice that Marstons Annual report was more than double the length of Oldfields both with minuet writing! I may be a tad jealous Oldfields report was much shorter. :) If you have a chance, please pop over to my blog and let me know if you notice and any other similarities and differences. my blog post is: ”Today I was lucky enough to have a wonderful discussion with Kelli Slatter from Gympie via Facebook messenger. I learnt more about another fantastic company that is from our home Australia! Nanosonics was the firm Kelli received and I must say Kelli knows her company inside and out. Having this discussion was my final peer discussion before I submit my assignment and to tell the truth both Kelli and I found plenty of differences within our firms. Nanosonics being in the Medical devices industry and Marstons in Restaurants, Pubs and Inns (Hotels) we could not even find a connection or cross over like I have been able to find with other peers’ firms. In saying this it was also difficult to find similarities. Nanosonics is an Australian company dealing in the AUD$ where as Marstons as previously mentioned is a UK company therefore dealing in ?’s. Nanosonics had only 286 employees around the world whereas Marstons have over 14,000 employees. Following these differences, we decided to move to the annual reports to see if we could find any similarities within our companies. We started with the total number of directors and found both firms had similar number of directors, we also noted that both our firm’s annual reports were very much so marketing tools with plenty of colour and pictures. After this discussion we moved to the financial reports. Here we found the firms were again different Marstons use “Group” and Nanosonics use “Consolidated”. Furthermore, Marstons use “Income Statement” and “Balance sheet” whereas Nanosonics use “Profit and Loss” and “Financial Position.” Great discussion Kelli, thankyou for your taking time our to discuss. I am in two minds as to whether these discussions have helped or not helped me in understanding my company more at this stage. I have learnt a lot about other companies and have also learnt that in one way or another majority of our company’s industries are connected. I have enjoyed thinking about how we are all connected. I have noticed that many of our company’s financial reports are set out very similarly however I have found that not a lot of peers seem to want to have in depth discussions. Studiosity:I love studiosity, I used studiosity with my Step1 of ASS#1 and the feedback was great. I am not the best with Spelling and grammar, so this has really assisted with my writing. I will definitely be using studiosity with my drafts for every assignment. A great service provided by CQU which I am very grateful for. Step 4: Company Spreadsheet – Marston’s plcThis has been uploaded this separately for review. Step 5: KCQ’s Chapter 2 and Chapter 3Time is flying and I couldn’t have imagined how much I would have learnt in such a short period of time. We are now in week 3 of the ACCT11059 – Accounting, Learning and Online communications. Upon reading chapter 2 and 3 of the study guide, I came across a few terms I was familiar with and a few I was not so familiar with starting with Financial statements, I knew briefly what a financial statement was what I didn’t know is all the rules that go with it, I knew banks could ask for your financials and I knew investors were able to see them however I didn’t realise that employees or customers would have an interest in the financial statements. My first thought was would employees understand what they are reading. Sure, some would but would the majority? I know I wouldn’t have really understood, yes, I am learning now which is great. I have learnt a lot of history thus far in the ACCT11059 unit, something in which I didn’t think I would this really surprised me. As I continued reading the GAAP (Generally Accepted Accounting Principles) caught my eye. My first thoughts were within our company do we apply all this rules or are we not legally required to? This will be another question to ask my Financial controller at work. How are we going to remember all these rules and regulations? Surely it must come over time, practise makes perfect, right? I couldn’t believe that over 140 countries have adopted the IFRS (International Financial Reporting Standards). Why has the US not adopted the IFRS? This is something I thought would have been developed by the US. What standards do they use? The other part of me felt excited knowing that over 140 countries have adopted the International Financial Reporting Standards because it means that completing this course and the Bachelor of Accounting I am not so limited as to wherever my life takes me. Who knows I may end up in the UK? Yes, they may differ slightly, but the opportunities will still be there as we both use IFRS. Continuing my journey through the study guide I soon came across the AASB (Australian Accounting Standards Board) Conceptual Framework, Yiks!!! This made the nerves spike, all the rules and regulations between the GAAP and now this, the conceptual framework, are we expected to know all this by the end of term? I am hands on, so for me practice makes perfect, will we be practising these? Having a look at the conceptual framework it is all about being a guide, it does not overrule the GAAP rules of accounting. I felt more at ease as I continued to find out yes there are a lot of rules however there is also a lot more to it, and this is what excites me the most. With excitement up and the nerves slightly eased on I went with the study guide. There it was Accrual Accounting a wonderful term I have dealt a lot with at work. Recognising activities as they happen. General journals to accrue over multiple months, for example a years’ worth of insurance on the one invoice, we ensure we divide the total by the number of months in which it relates to and distribute the costs over the total number of months invoiced for. Accrual accounting to me keeps our records real and in real time. It shows our revenue and costs in the correct periods rather than maybe all customers paying together in the same month or all our expenditure being paid in the same month which could either show major losses or an extremely high revenue month. When it comes to our investors/owners it is much better for them to see a more consistent, realistic revenue income or expenditure. I could only imagine the questions that would be asked if we used cash accounting.On with the study guide I continued the four financial statements came up. I had printed my firms’ financial statement and had also had a quick look; I left the balance sheet until the end as I knew a little about this financial statement. I had seen the balance sheet, however had I really understood it? Probably not. What I did know was that it is as at a certain time and day (the day you pull the report), I knew that it was about the Assets, Liabilities and Equity. What I didn’t know is it is a consolidation of all companies under the management or parent company. This could be because I have only worked for Family / medium size businesses, no business that is listed on the ASX. After looking at my firms Group Balance Sheet the first thing I noticed was the layout. I noticed all the assets listed at the top, followed by the Liabilities then a line labelled Net Assets (Assets-liabilities). Below this a list of the equity followed by a line labelled total Equity. From here I immediately saw the Net Assets equals Total Equity and there it was the Assets equalled the Equity, the fundamental accounting equations Equity=Assets–Liabilities or Assets=Equity+Liabilities. I tested the theory and bullseye it worked. 811.1 = 2860.10-2049.00. It is starting to come together; it is making more sense than previously; this made my day, I felt relieved. On I continued reading about the other three financial statements (Income Statement, Changes in Equity and Cash flow statement) and looking back at my firms for reference. To be completely honest I am not as confident with these as I was with the balance sheet. From what I can see is that the Changes in Equity includes a more detailed account of the comprehensive income statement plus transactions for shareholders/owners listed at the bottom. Is this correct? Or am I completely off the beaten track? I feel there is a lot more to learn about these three statements. I do understand the concepts of the statements i.e. income statements – show the transactions over a period of time and the effects it has on its equity investors (usually a year), the cash flow statement – shows the changes in Cash over a period of time and also the Changes in equity shows the transactions between owners and a detailed account of transactions of comprehensive income over a period of time (changes in shareholder equity over a period of time). Could it be the wording used in which is causing the angst? I hope we spend more time on these as the unit progresses. This was not so easy, I tried and tried to get the equation to work however I just couldn’t. Asset+Expenses = Equity+Revenue+Liabilities HELP!! What am I doing wrong? (2684.3+174.10+1.7)+(1067+126.50) = 811.1+1173.50+(491.7+1557.3) out by 20. This really frustrated me. I need more practice at this and how we calculate it. I hope there is more practice involved. Step 6: Feedback:So far, I have been able to give feedback on many blog posts and also some company spreadsheets. The first spreadsheet I gave feedback on was Andrew Kings – Andrew spreadsheet was really good there were just a few minor improvements I suggested. First, I suggested ensuring consistency with the summing of totals, as I found different years were summed differently. I also suggested using lines above and below the total cells and single line above and double below cells of grand (final) totals i.e. Net assets/total equity. My final suggestion was to underline and bold headings as this ensures clarity as to what they are. Andrews feedback was typed onto his spreadsheet and highlighted in green, happy to provide a copy. I have also had the privilege of being able to give feedback on Dana Falzons’ spreadsheet. Again, Dana had done a fantastic job completing her spread sheet with just a few minor suggestions I had. The first being the total of a column that was all zeros I noticed Dana had just entered a zero in the total section, so I suggested using the same Sum as she had done for the other years. Again, the other two minor suggestions were lines above and below the cells of totals and remove brackets from the year end dates in the report headers. Below is the feedback as per Facebook to Dana: “?Hi?Dana Falzon?I have had a look at your spreadsheet today. looks really good although just a couple of suggestions. 1. remove the ( ) from on your dates i.e. it still has (30 June) in your heading of statements. 2. the consistency of your sums I noticed some you had just entered totals. 3. I would also with totals ensure they are clear totals, for example line top and bottom of cell. and with grand totals single line at top of cell and double at bottom. Great work on your spreadsheet. I have also left some notes on your spreadsheet to assist, I attached in a private message as I couldn't get it to attach here. Note: as I didn't have a copy of the Financial statements, I couldn't check the figures were adding correctly.?:)?Hope this helps.”As well as giving feedback to Andrew and Dana, I was privileged to also receive feed back from a couple of peers in relation to my own company spreadsheet for Marston’s. the feedback received was fantastic and I definitely had another look over my spreadsheet to update it. See my blog post for Madonna feedback. have really enjoyed the feedback peers have been giving on all outlets mainly Facebook and the blogs, to be honest I was fearful of giving feedback to others in case it was taken the wrong way and they took offence. After my first PASS study group and having Danielle saying that the feedback is to help others I felt more at ease because I enjoy helping others, I want others to do well in their studies. When I think back now, I think what was I afraid of? Please see below the 3 x peer feedback sheets. I was privileged to read and provide feedback on Ashleigh Gilson, Chantal Russell and Dana Falzon. All three peers have completed fantastic assignments. I really hope they found my feedback helpful. 1. PEER FEEDBACK SHEET: ASS#1Feedback From: Kylie Boni Feedback To: Ashleigh Gilson - ashleigh.gilson@ My CommentsStep 1KCQsGreat job on your KCQs for Intro and Chapter 1. I too was nervous about having to do teamwork, as I wasn’t sure how it was going to work when studying only online. I have been pleasantly surprised at how well it has worked so far. Thank you for allowing me to be able to provide feedback for you. Step 2I enjoyed reading your intro about you, it was short but straight to the point. How many cats do you have? Would be nice to see a pic of you fur babies. Great photo hope you enjoyed your holiday. Link to blog was easy to locate and I thoroughly enjoyed reading your blog and your blog posts. Introductory words in Description boxPhoto and descriptionLink to your blog/Set up blogStep 3I think you have done a great job on your background information on Webster Ltd. Some wording I would have changed for e.g. “based in New South Wales for the past 180 years” I would use “over” instead of “for”, what do you think?With regards to the 20,000 hectares and the 150,000megalitres of water, wow huge amounts of land and water, could you relate it to some to be able to place it in prospective and show a visualisation link? Page 4 “I will be very interested to see what the annual report for2019 will look like” – after reading your first couple of pages and remembering the Canadian company took over in Feb 2020, should this statement day the report for 2020? Love the advice your Father gave you that you used in your KCQsIn step three you seem to have missed a few of the keys sections to be answered: have you discussed your KCQs with other peers? What about similarities and differences between your company and a few other peers? Are you happy with the company you were given, or would you have preferred a different company? what concerns if any do you have at this stage? Were there any areas you had difficulty understanding in your company Annual reports?Have you commented on your favourite blog in each of your top three bloggers sites? Have you added links to your top 3 blog recommendations to the Blog link section in Moodle? It wasn’t clear to me which areas of your business you felt were most important and critical, nor could I see where you have written about the key challenges your firms seems to be facing and how successful they are at meeting them.What is your firms apparent strategy? Great work on your Studiosity review, I definitely agree with you. The main reason I submit my assignments to studiosity is for the spelling and grammar. I rally enjoyed reading your Assignment, it followed wellBackground information on companyComments/KCQsTop 3 blogsStep 4Your company spreadsheet is very well done, however there are a few minor presentation and consistency suggestions I have. Row 11 + Row 40 + Row 59 totals for consistency I would suggest using this equation and copy across all year columns. Ensure the sum is able to be copied across all columns and is exactly the same (i.e. Even if there is zero in the row still include it) =sumG8:G10 for row 11.Absolute final total of a report i.e. Total Assets I would use double underline beneath the row. Also, with your headings i.e. Assets/non-current assets, ensure consistency. I.e. Bold and underlined follow the same rule throughout the entire spreadsheet. lastly make sure every second line is same colour throughout. I.e. Blue, white, blue, white etc.Great work though, all your information looked to be entered correctly and balanced. Input company’s financial statementsStep 5I really enjoyed reading your KCQs for chapter 2 and 3, again they have been very well written. May I suggest more questions what initially when you read the chapters did you think? What questions popped into your head, what feels did you have? And have you had any experiences or knowledge you can back up with? KCQsStep 6Individual feedback with othersNothing to comment on yetOverall ASS#1Overall your assignment is very well written. I really enjoyed reading about your company. I too was upset when I read, they sold to an overseas company, when are we going to start keeping our companies within our own country! I believe you are definitely on the right track and ensuring you answer those couple of other questions in step 3 you will be fine. 2. PEER FEEDBACK SHEET: ASS#1Feedback From: Kylie Boni Feedback To: Chantal Russell - chantal.russell@ My CommentsStep 1KCQsThoroughly enjoyed reading your KCQs for the intro and Chapter 1. Your set out was very clear and well written. I liked your questions and how you referred them back to your personal skills and previous employment. I.e. Journals and ledgers and how you use to explain them to your clients when you were a property manager. Well done Chantal, great work. Step 2Your intro really captured my attention as it reminded me so much of myself, Actually pretty much identical, minus the caravanning. You will do great within your studies. Your photo likes great. I thoroughly enjoyed reading your blog and blog posts, as well as the photos you have attached and your main phrase “a chance to be more the just a mum.” this really hit home for me. Introductory words in Description boxPhoto and descriptionLink to your blog/Set up blogStep 3Background info: Loved your information on your company and the detail in which you have explained what they are doing with regards to the palm oil biomass, and now how they could be using sugarcane biomass within QLD, this could be good for the employment rates. When did your company commence and by who? It would be good to know how they started and how long they company has been running. Comments/KCQs: very well written KCQs on the annual reports of LEAF. I feel there may be a few questions in step 3 that you may have missed answering though. I.e. Areas you had difficulty understanding , areas of the business you felt seemed most important and critical to you, key challenges the business faces, how successful they are at meeting them and their apparent strategy, what concerns if any do you have at this stage, Top 3 bogs: very well written and very detailed as to why you have chosen your 3 top blogs. Thank you also for including mine, I am glade that the inspirational quotes have motivated you. I placed them there not only so I could reflect on them when I feel overwhelmed but also to assist fellow peers. It is very nice to have feedback that they help. Peer Discussions: nothing to give feedback on yet.Background information on companyComments/KCQsTop 3 blogsStep 4You have made a great start to your company spreadsheet although I found it quite hard to understand what a total line. A few suggestions I have are as follows. Line 92 as this was a total for the year you should use a sum equation i.e. =SUM(D86+D91). This shows the marker that you understand how they come to get this total, not that you have just copied the numbers from the report. With regards to presentation may I suggest ensuring each line is of alternate colour i.e. Blue, white, blue etc. I would also extend that to the description of each line as it makes it easier to read a line. Heading lines, I may I suggest bold and underline and Total lines use line at top and bottom of the cells. These tips should assist in making it easier for you to read when it comes to re-stating as well. L Lastly, I highly suggest running over all the equations used to total cells as consistency in these will be a high priority when marking this section, I believe. Input company’s financial statementsStep 5Great job on your KCQs. I really enjoyed reading them and you had some great supporting experience. I really liked your questions also. I would suggest just going over the spelling and grammar. However, I think they are great. Well done.KCQsStep 6Individual feedback with othersNothing yet to comment on Overall ASS#1I believe Chantal has done a great job with every aspect of ASS#1 so far. As mentioned above there are a few minor suggestions however I honestly believe you will succeed in your studies. 3. PEER FEEDBACK SHEET: ASS#1Feedback From: Kylie Boni Feedback To: Dana Falzon . My CommentsStep 1KCQsAlready SubmittedStep 2Already SubmittedIntroductory words in Description boxPhoto and descriptionLink to your blog/Set up blogStep 3In your thought section where you mention a reviewer said they provided tremendous opportunity to gain knowledge, could you put a link to this video/review? A few questions in step 3 which I couldn’t find in your assignment. Identify areas you are having difficulty understanding, areas of the business that seem most important/critical to you, key challenge and how successful are they are meeting their key challenges, their apparent strategy, Discuss KCQs with peers, what are similarities and differences your and other firms and in the way the present their financial reports, what concerns if any do you have at this stage?Peer discussion section looks great and you covered, have you had a chance to discuss with others regarding your firms and what you both have learn about them? Did this help/not help you to understand more about what your firm does and about aspects of its business performance?Background information on companyComments/KCQsTop 3 blogsStep 4NOTE: I have had a look at your spreadsheet today. looks really good although just a couple of suggestions. 1. remove the ( ) from on your dates i.e. it still has (30 June) in your heading of statements. 2. the consistency of your sums I noticed some you had just entered totals. 3. I would also with totals ensure they are clear totals, for example line top and bottom of cell. and with grand totals single line at top of cell and double at bottom. Great work on your spreadsheet. I have also left some notes on your spreadsheet to assist, I attached in a private message as I couldn't get it to attach here. Note: as I didn't have a copy of the Financial statements, I couldn't check the figures were adding correctly. :) Hope this helps. Input company’s financial statementsStep 5Your KCQs are great. Very well written and loved the questions. I did notice in the following sentence that you say “That” I think it should say “that they” or just “they”- “they would require me to provide them with my current financial statements so that could see whether I am in a positive or negative reality” KCQsStep 6Individual feedback with othersNot in assignment as at this feedback.Overall ASS#1Overall you have done a wonderful job so far. Your layout is great. It would be great to include in a footer you page numbers, name and course, this will avoid any pages being lost. The information is detailed and Flows really well. I also love how you have your heading in a coloured banner, Great Idea. ................
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