Blogs

Financial Statements.

Well happy Monday to you all. Big day of study for me

I’ve been reading, re-reading, scratching my head and reading again as much as I can possibly soak up from my firms annual reports and my brain feels more scrambled than ever!

There is so much to take in, I think I’ve gained insight into one aspect and then there’s something else that boggles me. I understand that we are not expected to know everything about the report or statements but I find it hard to stop adding more into the pile when I come across another term or figure that I don’t quite understand. Plenty to be unsure about!

For the time being I’ve decided to post my financial statement as I filled it out on Friday in an attempt to get my mind out of the writing and moving forward with another part. I’m looking forward to our PASS session this week and hoping that it will open up a few more avenues for me to pursue in terms of my step 3. As for my planning I am hoping to have a rough draft for step 3 and 5 close to finished today, and maybe do a little bit of editing and adding tomorrow to get it posted on my blog. Once I have achieved that I plan to hit peer wise. Hard. Along with getting in on reading a whole lot of other’s work and hopefully putting some useful feedback out there!

Any feedback would be appreciated, sometimes you can read things 100 times and miss that same obvious mistake.

My Company, What an EVENT!

Event Hospitality & Entertainment.

I was excited to find out my company, especially to see that they are indeed an Australian entity. I’m sure everyone knows of Event Cinemas but I can’t say I had ever given any significant thought to them other than what was showing, at what times and how much popcorn and a soft drink was going to cost me!

As it turns out a few of their entertainment brands include BCC Cinemas and Moonlight Cinemas; and to my surprise their hospitality brands include the likes of Rydges and QT Hotels and Resorts.

If you care to have a squiz, here’s the website: www.evt.com

Here’s a video on the history of Event Hospitality and Entertainment when they were still listed as Amalgamated Holdings Limited, still the current video on their site

I decided to have a quick glance through their annual report and found myself intrigued by a couple of things. First off in regards to chapter 2 of the study guide, Martin writes about the two key qualities included in the firms financial statement, the first being relevance.

I first noticed at the start the directors report, which at the beginning laid out a list of the company’s directors, their position description and experience (Two of the directors are chartered accountants, go figure!) I wondered how this information might be that relevant to me especially if I was looking to invest? I came to the conclusion that it is very important, I would want to have an understanding of who is leading the charge, what their history is, their successes and failures, I no doubt would want to have formed my own opinions of them and whether or not I trust the direction in which they would be leading the company.

Secondly as I perused the rest of the report I noticed a list of the top 20 largest investors and found the AFIC (Australian Foundation Investment Company) which is a Listed Investment Company. I first became aware of AFIC when reading the Barefoot Investor, he basically recommends them as a good starting point in terms of investing. Basically an LIC (to the best of my understanding), is a company listed on the stock exchange, which invests in a range of areas, you invest in them, and are then privy to a diverse managed portfolio essentially. I myself have not invested as of yet, but seeing the AFIC in the statement as a shareholder lead me to ask myself, What causes them to view Event Hospitality and Entertainment as a good investment?

I look forward to deeply analyzing these reports in the coming weeks, and hopefully, forming my own opinion!

Hope you all had a good weekend

Week two here we come!

Kyl.

Getting in early

Reading all the tips and comments floating around on the facebook page is really great to see. It’s funny how you can think your the only one who’s nervous about starting a new venture. Martins’ words of encouragement, along with all other’s involved in our unit are a great booster and definitely helping put my mind at ease which makes it a lot easier to get cracking on some of our tasks early in the piece.

One thing I have certainly noticed so far is that even if I’m not sure what I’m doing, it makes it 100% easier if I just make a start. Start anywhere, just start. Whether it’s re-reading the chapters, answering questions on Peerwise, jotting down a few notes for my first impressions write-up, browsing Moodle or reading and making comments. I had no idea where to start with my blog, nothing came to mind when I was trying to plan it in my head. Then I just sat down and started typing, and before I knew it, blog underway! It all helps, even this entry now, I will use it as a timely reminder for when I get stuck somewhere down the track.

So here’s to the first of many entries I’m sure.

Kyl.

Welcome

Hi, and welcome to my blog.

Here, you can read about my journey through accounting, and see what’s happening within my world.

As part of my course, I will regularly be updating with my progress, drafts and thoughts along the way. Using this blog to help me gain skills and techniques in online communications, which will assist me throughout my studies.

Head over to the about me section to find out a little more about me, leave a comment or get in contact with me on the contact page, I welcome your feedback and look forward to working through this unit, and all that follow.

Cheers,

Kyl.