Issues

Hey Guys !

I have final finished my statements, however my balance sheet still hasn't balanced, but i'll get to the bottom of it and find out why. The main issue which I had when completing my statements was deciding which figures were operating and which were financial activities.  

Chapter One Questions

Why do we have double entry- accounting  ? Why do we put in everything twice ? why not once ?

Double entry accounting is mainly used for bookkeeping however a better example which I understood would be a customer purchases a car and their asset would increase as they now own a car but their cash at the bank decreases as they have to pay for the car.

I couldn't get my head around the dentition , as I couldn't put it into words or even understand it  however by using an example of car made it so much more easier to understand the concepts of double - entry accounting. 
 

 

Three Assets - An asset increases the value within a business

 

1)  Inventories

2)  Property, Plants and equipment

3)  Trade and other receivable

 

Three Liabilities - liabilities are financial payments which a firm may owe to banks or  suppliers

 

1) Other financial liabilities

2) Provision

3) Income tax Payable

 

Three Equities  - Equity is the value of shares within a company

 

1) Contributed Equity

2) Reverses

3) Accumulated losses  

 

 

Top Three Blogs !

Top Blogs in my opinion !



One : http://cliffordpower.blogspot.com.au/

I found this student  blog interesting and informative as it helped me understand some aspects of my company which are needed to be addressed. He was also lucky enough to receive a company such as Myer. He include great key concepts and ideas within his blog. The blog was easy to read and understand as the presentation was clear and simple.  

Two:  http://bmarshallaccounting.blogspot.com.au/

This students blog was easy to read and understand it was  very well presented, as It was clear simple and tidy. She included relevant information within her blog such as key points, ideas and concepts which needed to be addressed. 

Three: http://yukongsm.blogspot.com.au/

I found this student work easy to read and understand. She mentioned key points and ideas within her blog which helped me learn and understand what kind of, points, ideas and key concepts I needed for my firm.

Cocerns/ Key Points

 Concerns

When I first started this assignment I didn't know what to do and where to start. However after talking to other students and reading the assignment stage 1 sheet  the assignment suddenly become so much more easy to understand.

By talking to other students  we could compare our differences and similarities  within each of our companies and some of the risks and challenges which the firms face. The social sites such as the Facebook group, blogs and emails made it so much easier to communicate with other students.

When reading through my annual report I found a few interest facts and ideas which I would like to share with all of you !

• The company launched a number of new products in Australia and the US
• The firm also in licensed for the Australian market a range of injectable and over the counter products
• Sales revenue grew 61 % to $83 million and gross margin was up to 73% to $39 million
• The market capitalised has increased more than 4 times over the financial year from $50 million to $240 million as at 30th June 2013
• The company predicts the outcome for the year ahead is very positive

For any more questions feel free to comment below

Meet The Team of Mayne Pharma

The company has a total number of approximately 160 staff.  The company is technology driven. Mayne Pharma is a globally operated  company. This firm is a retailer, service and manufacturing business. The two manufacturing facilities are based in South Australia and Greenville North Carolina, USA .


Mayne Pharma - Board of Directors 

Roger Corbett - Chairman 

Scott Richards - Managing Director 

Ian Scholes - Non Executive Director

Ron Best - Non Executive Director

Bruce Mathieson - Non Executive Director

Phil Hodges  - Non Executive Director

Mark Cansdale - Group CFO & Company Secretary

Kate Rintoul- Vice President and General Counsel

For any more details or questions feel free to check out the official website of Mayne Pharma Group Limited. 

http://www.maynepharma.com/investor-relations/directors-and-senior-leadership

Enjoy Reading Guys  ! 

Understand and Know my Company - Mayne Pharma

  Mayne Pharma Group Limited  is a pharmaceutical corporation which develops and manufactures branded and universal products, which then the company distributes directly or through delivery. The organisation is  global and partners with Australia, USA, Europe and Asia. Mayne Pharma Group Limited  furthermore offers contract development and manufacturing services to customers . However to purchase/order products, services or manufactures from Mayne Pharma  should occur online, as its technology driven.

 You deserve tomorrow 

Hi  and Welcome to my Blog !

I'am currently studying a  Bachelor of business with a major in Management. I work in retail which gives me some experience when it comes to customer service. The business world may be boring to some, however i find it interesting and eventful dealing with customers and solving issues which may arise.

 By the time I turn 20 I would like to have finished my Bachelor of Business and traveled in or out of Australia to find the job of my dreams !