MANAGEMENT ACCOUNTING  M 5011 SP2 2022 PROBLEM SLOVING

 

 

                    MANAGEMENT ACCOUNTING           

             M 5011 SP2 2022

                  PROBLEM SLOVING

Report

This report is based on ASX Listed company in Australia which is Nyrada Inc.  It is an Australian pharmaceutical company whose organization and business deals with the drug discovery and the development of drugs in the significant community area which need in the neurology and cardiovascular fields. It is a drug development company. The analysis for management accounting is done for this assignment. Management Accounting Analysis of this company will help in a full financial analysis for this company.  The company has expertise in novel small molecule drug development to undertake the pathological processes which are involved in cardiovascular and chronic inflammatory diseases (Lee & Lee, 2021).

The vision of the company is to become a high pharmaceutical company which is specializing in the discovery of drugs and early-stage development. The areas focused on by the companies are the areas that are substantial unmet clinical needs are there and must have the candidates identify drugs with significant commercial and therapeutic potential, where effective and well-tolerated therapies exist.

The company currently has four programs related to drugs which are

Cardiovascular is a treatment for the high blood cholesterol level in the patient.

Neuroprotection; is a type of drug which helps to reduce the impact of people’s disabilities which are formed long-term with stress and brain injury.

Inflammation and autoimmunity; such as psoriasis (Somanath, et al., 2021)

So, the company’s overall aim is to help people with blood cholesterol high levels to put them at risk. their aim is to serve the best treatment to people and save their life they put all the effort related into it.

The chairman name of the company is john, john is the CEO of the company. The company is located in Australia. James Bonner is the chief executive.

This report is a consultation report of the company in which we consult about the company’s profit and WE measure all the financial, reports of the companies then we calculated it profitability then we compare the companies with the benchmark company a benchmark company which play a role as a competitor here in the field of health care and give the best competitions in the market (Graves, & Zheng, 2014).

I recently join these companies where the manager is on leave with his family. And he asks me to prepare a consultation report for the companies for the company’s important clients I make the consult reports before he returns from vacation on 22 April 2022. 

Companies manage all the healthcare-related equipment and other services also, currently announced the appointment of the new chief executive officer – MS Alice lee. She raised some concerns after reviewing the recent annual reports on both the financial and non-financial so she raised some concerns about the performance of the companies.  She decided to conduct or organize an investigation that is comprehensive and to analyze the company’s performance to get or know the full picture of the organization’s financial health. And also, about to evaluate the risk which was for the past three years. The aim of this review is to provide a better understanding of how the company will work against the set benchmark and how it will meet its competitors in the healthcare industry sector. The CEO of the company wants that all the tasks should be done on time and the new plans to be much more effective to achieve the desired goal.

So as I prepare for the company objective and the consultation so first I check the company financial report and check and measure the financial reports and check what is the profitability and revenue and loss of the company for the three years.

In 2020 the profit of the company is 1,125,414 which rises in 2021 which is 2,340,011.

In 2020 the loss is $0.09 and in 2021 it is 0.03.

The profitability of the company is exceeding day by day

In 2018 the profit of the company is 2,416,276 and in 2019 the profit of the company is 4,095,130.

So, the profit is increasing continuously this is a good thing but also the risk is increasing because of that the new CEO is concerned about it.

So to maintain its existence in the market and to achieve the benchmark company has to perform well in all orders to achieve its desired goals company has to stay up–to–date according to the market condition and patient’s wants and needs to serve the best to their patients’ company needs to take an advance policy and techniques to satisfied the patient needs. The company needs to satisfy the patient’s needs by providing them with many facilities related to health and safety. And provide them with good treatment methods and also provide them with many health facilities. The company needs to seek what its competitors do to achieve their goals and also what techniques they are using to enhance their profitability and serve the best to their customers and patients.

This report is a consultation report of the company in which we consult about the company’s profit and WE measure all the financial, reports of the companies then we calculated it profitability then we compare the companies with the benchmark company a benchmark company which play a role as a competitor here in the field of health care and give the best competitions in the market.

The company Australian pharmaceutical company whose organization and business deals with the drug discovery and the development of drugs in the significant community area which need in the neurology and cardiovascular fields. It is a drug development company. The company has expertise in novel small molecules drug development to undertake the pathological processes which are involved in cardiovascular and chronic inflammatory diseases.

The vision of the company is to become a high pharmaceutical company which is specializing in the discovery of drugs and early-stage development. The areas focused on by the companies are the areas that are substantial unmet clinical needs are there and must have the candidates identify drugs with significant commercial and therapeutic potential, where effective and well-tolerated therapies exist.

The benchmark for this company is Melbourne Health Company it is also a famous health care service provider. It is one of the best health care companies he continuously does dedicated work to improve health and wellbeing. It is the first public hospital in Australia. The hospital has a lot of the latest technology and service equipment to provide the best health care service and satisfy human needs it is one of the largest health givers in the state. Which provides a range of specialist medical programs As well as operates many old age and rehabilitation care centres

 

So, if the nyrada companies want to get success like benchmark companies they also do companies have also done the following activities and focus on their work and practices to meet the environment and satisfied the customer needs. The company has to follow the latest technology. maintain its existence in the market and to achieve the benchmark company has to perform well in all orders to achieve its desired goals company has to stay up–to–date according to the market condition and patient’s wants and needs to serve the best to their patients’ company needs to take an advance policy and techniques to satisfied the patient needs. The company needs to satisfy the patient’s needs by providing them with many facilities related to health and safety. And provide them with good treatment methods and also provide them with many health facilities.

As we compare both the companies that who are serving the best so the benchmark company is always higher and famous and above the other company their reports and everything is higher and more effective. Benchmark company is achieving more profit than other one and their returns are healthier and higher also they achieve a lot of profit as compared to another one. The benchmark for this company is Melbourne Health Company it is also a famous health care service provider. It is one of the best health care companies he continuously does dedicated work to improve health and wellbeing. It is the first public hospital in Australia. The hospital has a lot of the latest technology and service equipment to provide the best health care service and satisfy human needs it is one of the largest health givers in the state.

Yes, company A will stay in the market for the long term if they were going good practices and meet their desired targets but before that, they have to take advanced technology and facilitates peoples in the best way by providing the best treatment facilities and satisfied their patient.

 

 

 

 

References

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Somanath, P., Lu, D., Law, B., Archer, T.C., Cacovean, A., Palmer, J.T., Kinoshita, T. and Butler, T., 2021. Novel Irreversible Menin Inhibitor, BMF-219, Shows Potent Single Agent Activity in Clinically Relevant DLBCL Cells. Blood138, p.4318.

https://www.sciencedirect.com/science/article/abs/pii/S0006497121062297

Sghari, M.B.A. and Hammami, S., 2014. Health care expenditure growth in developed countries: Assessing the impact of medical technology. International Journal of Research in Applied Natural and Social Sciences2(2), pp.101-110.

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Shirley, E., Josephson, G. and Sanders, J., 2016. Fundamentals of patient satisfaction measurement. Physician leadership journal3(1), p.12.

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