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Introduction

Management accounting within the business is needed to implement numerous accounting ways to work the operations correct manner. This report focuses on the analysis of management accounting ways that are applicable for the business operations. The report explains edges and disadvantages of the assorted designing ways applied for monetary fund management. Additionally to the present, the report conjointly recommend by which a company will create the employment of explained ways so monetary issues are often managed. During this manner, numerous ways of company accounting are explained that are are useful in coping with economic issues.

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The advantages and downsides of designing techniques used for monetary fund management is as follows-
Advantages

• Budgeting: The particular amount money to pay premiums within the same months to manage their financial gain they are gift to verify and to pay their bills frequently i.e., monthly they are prepared for these payments.
• Worth Setting: Market things like your enemies costs aren’t the alone limits they want to line their fees, costs and prices. They desires to inform their production and overhead prices before you set your rates (Cooper. et., al, 2017). A budget permits them to endeavor their service, health care, marketing, rent, wages, debt charges and various costs so they are going to be ready to learn existence worth per unit of constructing their product or delivering their service. Once you acknowledge this, they are going to be ready to set their prices to create the profit they might like.
• Capital and Credit procural: Few deals capitalists, banks, dealers or various house owners will offer them with money or trust unless they need got cash inquiry to gauge they are a going interest (Abdelmoneim  & Jones, 2014).

Disadvantages 

• The character of the account is numeric, so it tends to focus government attention on the quantitative ways of an employment. In reality, customers don’t care exercise the profits of a business. 
• Blame for results: If the agency does not bring home the bacon its accounted results, the agency controller may action on the opposite agency that offers services to that for not having fully supported is agency (Turner &  Guilding, 2012).
• Expense allotment: The budget may impose that positive amounts of overhead costs are assigned to varied departments, and so the controllers of those agencies may trouble the allotment ways in which used.
• Time needed: The time exercised is lesser if there is a well constructed accounting method in place, employees equal half awake to the strategy, and so the organization uses accounting package (Turner &  Guilding, 2012).

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Planning tools

1. Budgeting

When they have selected what their possible planning involves, they should prefer how these plans are to be sustained (Paulsson, 2012). Understanding of a monetary arrangement is a basic device in guaranteeing that they stay answerable for your operating cost 

• Calculating assets 
• Affirming that approved achievement can in reality be finance. 
• Settling on capital related options in a knowledgeable and very much skilled way. 
• Recognizing regions of possible problem and manufacture planning for same.
• Calculating implementation to date beside pre-arranged limit (Cooper. et., al, 2017).

The character of data given by a monetary plan is balanced to the effort that has been put reserves into it. A financial arrangement on the off possibility that it is to be flourishing should determine the agreement among calculating in somewhat slack to take into explanation unpredicted occasions, while in the interim individual regions in which operating cost can be cut. 

2. Cash Flow Forecasting 

While arrangement is a helpful apparatus for organizing purposes, a Cash Flow Forecast is increasingly perceptive by its very character. It helps the capitalist in unique summits and channels in depository account. A revenue measure will assist with recognizing the requirement in which growth is to be supervises. The revenue estimate is characteristic in character and will help with casting feasible preparations by distinguish regions, for example, Financing fundamentals, Zones of price that should be looked into, Provider conditions that should be renegotiated (Abdelmoneim  & Jones, 2014).

Applications

• Assess Accuracy of a Forecast: Precision of the estimate is urgent for basic leadership and distributing assets for a specific task. Distinctive sorts of estimating strategies give diverse dimension of certainty interim and the administration needs to determine whether the utilization of anticipating strategy is fitting for that specific result. 
• Money saving advantage Analysis: All in all, if more exertion and assets are placed in, the figure will be increasingly precise. Anyway the cost engaged with going for a complex conjecture should be endorsed given the imperative of assets. 
• Timetables of Forecasting: Timetables for figure (choice to make a 5-year estimate or a 10-year measure) is an urgent factor in landing at the exactness of conjecture (Turner & Guilding, 2012). Be that as it may, there is a tradeoff of measure of information included and expanding courses of events, which should be deiced before beginning the determining procedure. 

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Findings of the report

Financial analysis is a very important step, whereas considering an organization’s investment perspective. It is a method of ratio between numerous products in monetary statements. Ratios are classified as advantageous ratios, liquidity ratios, plus utilization ratios, leverage ratios and assessment ratios supported the suggestion they supply. A stability sheet, earning declaration is the foremost essential financial declaration and if properly examined and taken will offers precious visions into an organizations employment (Belfo & Trigo, 2013).

Financial Proportions are usually employed by at this time and capable investors, creditors and financial establishments to judge an organization past achieve spot fashions in a very employment and to match its progress with the common company progress (Abdelmoneim & Jones, 2014). Internally, the controller uses these ratios to watch progress and to line specific aims, objectives, and policy actions.

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Key-performance indicators
KPI stands for the set of some standardized parameters that must be adopted by a company compare the inner performance against applied individual standards. As an associate degree example, most accepted level of short liquidity is 2:1 and, an enterprise can compare liquidity of business against this applied commonplace to analysis the areas of problems. 
Through the applying of KPI’s, structural performance is measured against applicable standards (Belfo & Trigo, 2013). It will facilitate identifying the problem containing areas that need improvement. Once the identification of such areas, associate degree economical strategy is made and enforced by management to urge eliminate cash issues and insure property growth.

Benchmarking
This term stands for the tactic that’s expounded to comparison among industry-based-standardized-values and aftereffect of business operations, as an associate degree example, eighteen net profit is assumed higher in Retail market trade of the United Kingdom, so a company is that’s gaining profits eighteen or lots of are assumed smart whereas a corporation that’s not generating profits as per trade commonplace are assumed, low entertainer. Through the applying of benchmarking, a business can improve the internal performance level up to trade parameters to insure sensible profits and enlargement (Cooper. et., al, 2017).

Financial governance
Financial governance is associate in nursing indicator of those moral rules that unit needed to be applied terribly very business corporation to insure security from dirt that may occur due to non-presence of ethical arrangements. Actually, losses from stealing or fraud unit one the key issue for the money problems in business and thus the adoption of economic governance creates Associate in Nursing surroundings of ethics in operation. Also, it ends up within the establishment of sound internal controls in structure, procedures that stops the entity from capital losses (Paulsson, 2012).

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 Management accounting have basic objective to produce the management for deciding purpose. As merely simply just in case of economic issues, management wants the knowledge relating to increasing. There are a unit type of corporations have the skills to satisfy these challenges and to contend in a very property economy in step with the Environmental Management and Assessment Institute. The Management Report stands to purpose what vary business entities have disappeared into valuable intelligence and analysis by failing to appreciate trait capabilities. This involves the utilization atmosphere for impact and analysis and news on the impact of environmental and economical factors on employment progress. Throughout this case, the senior respondent may have data on this type of knowledge (Belfo & Trigo, 2013). However, there unit of activity indications that it begins to vary, and predicts fraction of the calculable expected growth at intervals subsequent 2 years for environmental and social information. The financial gain forecasts will facilitate predicts forthcoming money shortages to assist them turn out the proper decisions. It will facilitate in tax preparation, developing with new instrumentation purchases or distinctive if they may would like to secure barely business loans (Brooks & Mukherjee, 2013).

Conclusion

From the above discussion, it is known that unethical operating of workers, low performance of employees and inefficient investment coming up with are major factors for the money problems in business entities and, it may be removed through the applying of management accounting tools. Findings of debate are enough to bring to a close that the employment of management register is extremely helpful for business firms within the consummation of targets.

References

Cooper, D.J., Ezzamel, M. and Qu, S.Q., 2017. Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), pp.991-1025.

Abdelmoneim Mohamed, A. and Jones, T., 2014. Relationship between strategic management accounting techniques and profitability–a proposed model. Measuring Business Excellence, 18(3), pp.1-22.

Turner, M.J. and Guilding, C., 2012. Factors affecting biasing of capital budgeting cash flow forecasts: evidence from the hotel industry. Accounting and Business Research, 42(5), pp.519-545.

Belfo, F. and Trigo, A., 2013. Accounting information systems: Tradition and future directions. Procedia Technology, 9, pp.536-546.

Brooks, R. and Mukherjee, A.K., 2013. Financial management: core concepts. Pearson.

Paulsson, G., 2012. The role of management accountants in new public management. Financial Accountability & Management, 28(4), pp.378-394.

Introduction

Protectionist policies are the threat to the free trade at a global level. The situation that occurs with the organisation because of protectionist policies is analysed in context with the trade for this assessment. Trade protectionism is a policy which enables the government to protect and secure the domestic firms from the foreign competition. It helps the domestic firms to get a relative advantage against foreign firms in the domestic market. 

Critically evaluate the positive and negative aspects of a more protectionist trade policy for an emerging/ or a mature economy.

Technology and cost of a product 

After the globalisation, the multinational companies are free to trade in any part of the world. To protect the local companies some of the countries impose high tariffs, restrictions, subsidies, import quota and other tariffs on the product of foreign companies. The cost of the foreign product in the local market Rises because of huge tariffs. This favour from the local government to the local company in any country provides a competitive advantage to a local company (Goodman, 2018). On the other side in the views of De Bièvre & Poletti, (2015), implementing protectionist measure results in less development of the industry in the particular country. The foreign company can be an advance in Technology and local company may not be advanced. Because of the imposition of higher tariffs on that particular company profit will be less. After that this company will invest less amount in research and development because of let’s profit and a high amount of tax and tariff.

Employment and Competition

As prescribed by Rugman & Verbeke, (2017) the development of local companies can be possible because of the protectionist policies of trade. Local employment can be created because of the survival of the local company. Favour from the local government helps any local company to gain profit and it starts its expansion of business that will help in the creation of more local employment. While as per Durusoy, et. al., (2015), there will be less competition among the organisation because of fever to the local organisations. This will lead to less innovation in the product. Multinational companies outsourcers its work so that profit can be achieved. This outsourcing finishes employment in the non-domestic country. This is also a policy that is implemented by a multinational organisation against countries that implement protectionist measures.

Economy

In the views of Deardorft (2012), slowing down of the economic growth is the situation after the implementation of protection measures by the countries for free trade under globalisation. Product price of MNCs gets increased because of protectionist policies. High prices of the product lead to the customer not to buy MNCs product. Therefore there will be less tax collected by the government. This will lead to slowing down the rate of economic growth. But Durusoy, et. al., (2015), suggested that less competition in the market is the situation then there will be less demand and popularity of the product in the market. This situation also affects sales and hence the economy. Tariffs can be used for the correction of imbalance in the price of production. if any country is providing subsidy on wheat providing local companies then that country can impose tariffs on the MNC that are providing wheat. This will provide an opportunity to earn tax from MNC.

Miscellaneous critical analysis 

There has been a lot of discussion about whether protectionism is beneficial or not, let us scrutinizes the pros of this policy.  

• One of the important features is that protectionism helps in the regulation of the economy. As the imports decrease, domestic companies face less competition and are able to survive in the market. It will make the domestic economy stronger as it will make the resources put to use to their full potential and hence the firms will be able to produce and supply more to the customers. 
• It also helps the emerging businesses to transform themselves at the prevailing market rates as they will not be burdened by foreign competition. These budding firms can build themselves till the time they are strong enough to compete in the global market. 
• It creates a feeling of togetherness within the people. This means that the people become more patriotic and work with each other instead of working as a slave in a multinational company.
• It becomes extremely important to impose protectionism in terms of national security, industries like defence, hospitals, prisons, etc. should never be given in the hands of foreign players so that the national security is not attacked in any possible way. In the words of Goodman (2018), There are different types of products that can be developed by implementing protectionist policies. The products of Defence should be developed by any country for its security. If any country depends on a foreign company for its defence products then the serious problem can occur to the nation in the wartime. Therefore it is very necessary to implement this strategy in such type of cases. As per the argument of De Bièvre and Poletti, (2015), defence sector of any country can be made better with the help of innovation by the foreign companies. Therefore protectionist policies should not be implemented. It stops the innovation and development in the Technology for the defence products.
• Free trade runs on the belief that it is beneficial for all the people around the globe, however, in reality, it is distributed unevenly wherein only a few individuals can take advantage of the opportunities and make the most out of them. Protectionism takes care of this problem and narrows the gap in the inequality of income (Milne Publishing, 2018). 
• When foreign competition is allowed to enter the domestic market, there is a possibility that national deficits might emerge, protectionism helps in avoiding the emergence of the national deficit.
• Not only does it help in avoiding national deficit but with the help of excise duties and tariffs, the government is able to generate a huge amount of money. For example, the US government was able to generate a total revenue of around $44 billion through the policies of protectionism (Vittana, 2018).

Moving on to the disadvantages of protectionism, some of them are discussed below.

• The prices of the products are increased instead of falling down. The tariffs on imports increase the overall cost of the product which is borne by the customer as companies do not take up the onus of bearing the costs. And domestic firms, on the other hand, increase the prices of their products in order to match up to the foreign prices so that they could make more profit.
• Limited choice is available to the consumer. The consumer has to invest more in local products because of the high price. The development of variety in the products is not accomplished because of protectionist policies implemented by many countries. Protectionism does not provide the customers with a wide range of choices to purchase from, it restricts the choice of the customer and hence the customer might even have to compromise with the quality as foreign products are usually perceived to have a higher quality than local products (Ferdman, 2014). 
• Protectionism provides a safe environment to the domestic businesses which make them believe that they will continue to grow, it is only through free trade that a local firm can grow as it needs to compete with the foreign firms and survive in the global environment (UK Essays, 2016). 
• Trade protectionism can impede the political relationships between two countries, as when one country imposes tariffs, it might create a negative impact on the other country and hence damage their relationship.
• Protectionism might help a nation to grow in the short run, but in the long run, the economy would begin to lose its efficiency and the innovation would decrease over time (Goodman, 2018). 

Conclusion

Protectionist measures are the hurdle in the path of growth of multinational companies in non-domestic countries. Protectionist policies are creating disturbance in the economy at the global level. Protectionist policies are against the globalisation. Protectionist policies help the local organisation to grow. Protectionist policies are having advantages as well as disadvantage both for any country.

References

De Bièvre, D. and Poletti, A., 2015. Judicial politics in international trade relations: Introduction to the special issue. World Trade Review, 14(S1), pp.S1-S11.

Deardorft, A., 2012, July. Easing the burden of non-tariff barriers. In International trade forum (No. 3, p. 26). International Trade Centre.

Durusoy, S., Sica, E. and Beyhan, Z., 2015. Economic Crisis and Protectionism Policies: The Case of the EU Countries. International Journal of Humanities and Social Science, 5(6), p.1.

Ferdman, R. (2014). The Washington Post. [Online] Available at: https://www.washingtonpost.com/news/wonk/wp/2014/12/03/how-the-worlds-biggest-companies-bribe-foreign-governments-in-11-charts/?utm_term=.642a5a509957 [Accessed 27 Oct. 2018].

Goodman, P. (2018). The Pros and Cons of Import Tariffs and Trade Protectionism. [Online] Soapboxie. Available at: https://soapboxie.com/economy/Pros-and-Cons-of-Trade-Protectionism [Accessed 27 Oct. 2018].

Grin.com. (2013). GRIN – The Effects of Bribery and Corruption on Multinational Corporations. [Online] Available at: https://www.grin.com/document/340648 [Accessed 26 Oct. 2018].

Meschi, P. (2009). Government corruption and foreign stakes in international joint ventures in emerging economies. [Online] Ideas.repec.org. Available at: https://ideas.repec.org/a/kap/asiapa/v26y2009i2p241-261.html [Accessed 26 Oct. 2018].

Milnepublishing.geneseo.edu. (2018). 10. Corruption in International Business – Good Corporation, Bad Corporation: Corporate Social Responsibility in the Global Economy. [Online] Available at: https://milnepublishing.geneseo.edu/good-corporation-bad-corporation/chapter/10-corruption-in-international-business [Accessed 26 Oct. 2018].

Rugman, A. and Verbeke, A., 2017. Global corporate strategy and trade policy. Routledge.

UK Essays. (2016). The International Globalization Vs Local Brands Fashion Essay. [Online] Available at: https://www.ukessays.com/essays/fashion/the-international-globalization-vs-local-brands-fashion-essay.php [Accessed 27 Oct. 2018].

Vittana.org. (2018). 13 Most Valid Protectionism Pros and Cons | Vittana.org. [Online] Available at: https://vittana.org/13-most-valid-protectionism-pros-and-cons [Accessed 27 Oct. 2018].

Executive summary

This report is written for the analysis of personal leadership development. I had written this report as a junior team leader in Woolworth’s supermarket. This report will provide information regarding the various steps that can be taken for personal development as a leader. Various skills and competencies can be developed in the individual by the means of information presented in this assessment. This assessment provides various techniques by which self-analysis can be used for the self-development. The communication of an individual can be made good by techniques present in the report.

Introduction

This assessment provides information regarding personal leadership development. The building of self-awareness can be possible with the help of self-development. Various theories of leadership are discussed in this assessment for personal leadership development. The methods by which the team members can be motivated is also analysed in this assessment. The self-awareness can be accomplished in the team member with the help of training. Providing coaching will also be helpful in developing communication skill.

Whitman GROW model and justification for using this model

This model is chosen for the leadership development of me. This model is very beneficial for analysis of need of development in oneself. The different type of goals can be set with the help of a different model with a definite deadline. After setting the goals the reality of the individual can be analysed. The reality is the place at which the particular person stands in leadership. There can be a different type of options that are available for the development of leadership. These options can be listed and used with the help of this model. Obstacles that are present in the way of leadership development in one can be eradicated with the analysis of obstacles. After eradication of obstacles, the options can be converted into the actions for the personal leadership development.

Stages of GROW

Goal

The objectives for the learning and development should be very clear. There should not be any confusion regarding the goal. These are the needs that are required to be developed in any individual.

Reality

The current reality of me can be analysed with the help of this stage. Different type of challenges can also be analysed with the help of this stage.

Obstacle and options

The obstacles that will come in the path of success will be analysed. The options that can be used for the self-development will be analysed in this stage. Steps will also be taken for removing the obstacles.

Way forward

The options that are chosen are converted into actions in this stage. This is the final stage of which Whitman GROW model.

The time period and justification

A total of 2 years of the time period is selected for the leadership development program with the help of Whitman GROW model. Two years of the program will be beneficial and quick for the learning. At this stage of my career, it is very necessary to learn quickly different leadership skills. Learning will be helpful for me to implement the leadership skills with my continuous daily work in the organisation. This learning program will provide me with an opportunity to target future goals of my career.

Self-leadership development to build self-awareness 

To know the own mental state it is very necessary to make self-awareness. Self-awareness is helpful in energizing our self. The strength, weakness and tendencies can be analysed with the help of self-awareness. There are various methods that can be used for the self-development that can be helpful in self-awareness.

Positive intent

Defensive mental state is not a good mental state of any individual. If I am in the defensive mental state then it will not be good for me and for my organisation in which I will work. The person should not be judgemental for any of the people (Sowcik, et. al.,  2018). The concern and the issues of another person should be listed by me then the further decisions should be taken. This will be helpful for me in reading other person intention.

Mirroring myself and my decisions

Different type of decisions is taken by me regarding my work. All the decisions should be analysed me and the people around me.  This will be helpful for me in the analysis of future decision making. The limitations in the present decision making can be analysed and these limitations can be eradicated in the future decision making (Champy, 2009). After that, the future and the results of the past decision can be compared. The positive feedback can be getting after taking constructive steps regarding limitation on the past distance between.

Tough questions can be asked by the team

I am working as a junior team leader in Woolworths Supermarket. Therefore it is my duty to ask important decisions from the team members in my team. The self-analysis from these questions can be accomplished. If my team members are able to answer the tough questions easily then this will show that I am able to make my team understand important things regarding my organisation. They are able to understand the policies that are associated with their work. Tough questions will give their feedback regarding me if they are unable to answer tough questions.

Accountability partner

There is various employees work in the organisation. Any of the employees can become a partner for me. This partner can provide information about positive as well as negative improvement in me. The partner will be accountable regarding my self-development and self-awareness. The accountability partner can be a mentor also. This partner will make sure that I am on the right path of development or not.

It’s not all about me

It is very necessary to analyse that my team is working good for the organisation or not. If I am unable to make them understand the task then they will not work well for the organisation. Therefore it is my duty to make them competent in effective working for the organisation (Champy, 2009). The behaviour of the team members towards me will also show my response and my behaviour towards them. Therefore this self-development provides the analysis of self-awareness regarding own behaviour.

Personal leadership development strategy with leadership Theory

Behavioural theory

It is the type of theory of leadership different type of behaviour can be used by the leader for accomplishing the organisational task. The autocratic behaviour can be used by the leader in the situation when employees are already ready to work. In this situation, the leader only assigned the task to the Employees (Lamm, et. al., 2018). The relational behaviour is implemented by leaders when an important task has to accomplish with the help of the team of the leader. In this situation, the leader provides training to its staff regarding the important task. The different problems that are associated regarding the task are solved by the leader.

This theory will be helpful for my personal leadership development as different behaviours will be understood with the help of this theory. This theory provides the reactions that have to be made by a leader in the different situation with the employees that are working under the leader. This theory will provide me with an opportunity to lead my team efficiently.

Hersey and Blanchard’s approach – Situation theory

There are various types of styles that can be implemented by any leader for accomplishing the work in the organisation. The style can be used according to the situation.

Telling

This is the leadership style that is used in the situation when the task is regular work that is associated with the responsibilities of staff (Globe, 2018). In this style, less relationship is focused by the leader.

Selling

Some of the tasks are there that require coaching as well as supervision. In such type of situation, a leader implements selling is time. Leader trains the team member as well as motivate them to do that work.

Participating

This is the type of leadership style in which relationship is given priority by the leader. The task is least focused on this style. This type of leadership is implemented by the leader when there is less commitment of the team member is shown. In this situation, the leader motivates the team member to work with full of commitment.

Delegating

When the team member is already motivated to do the particular task then this delegating style is implemented by the leader (Lamm, et. al., 2018). In this situation relationship as well as task both is less focused by the leader.

This style of leadership will provide me with a platform to know the method of tackling team member in a different situation. This type of leadership Theory is very useful for the individual that wants to become a good leader. Leadership can be performed by any individual without any issue with the help of this situation theory.

Fiedler’s Least Preferred Co-worker Contingency theory

Different type of contingencies can be possible at the time of working in an organisation. Contingencies can be solved with the cooperation and coordination between the employees. It is very necessary for a leader to take a fast decision in contingencies. There is the various method by which contingency can be minimised at the time of work.

Leader-member relations

If the team member and the leaders are enjoying good relationship then in the situation leader ask the team member to be Cooperative at the time of contingency. The flexibility in the work can be possible from the team member side because of a good relationship between leader and team member.

Task structure

The controlling of the task is in the hands of the leader. If there is contingency takes place in the organisation then prioritisation of the task can be possible. In this situation, the team members should agree to resolve the contingency according to the task urgency.

Leader position power

The leader is having high authority among the team member. Therefore leader should have that personality so that the team member will follow the instruction given by the leader. The same following should be accomplished by the team member at the time of contingency. This will be helpful in resolving the contingency in a fast manner (Globe, 2018).

The above methods provide me with the opportunity to learn the authoritativeness of the leaders. The method by which flexibility among the team members can be implemented is also analysed with the help of this leadership Theory. The solution of the contingency can be analysed easily with the help of coordination and cooperation. This theory provides me with the understanding of coordination and cooperation in the team.

Capacity to motivate others

It is very necessary for the leader to motivate the team members. Effective team working is very necessary for any organisation. The coordination between the team can be implemented with the help of motivation. There can be a different type of methods to motivate the team members. These are: –

Sharing the vision

The organisational vision can be shared to the team member. It is a good step to motivate the employees of the organisation. The employees will able to understand the mission for which the organisation is working. This will be beneficial for the employees to get motivated. They will walk in the direction of the organisational mission. This technique will be helpful for me to make my team good for the organisation.

Appreciation

Appreciation is the techniques that can be learned by me to motivate my team. This will be helpful for me in motivating a team (Lin & Chen, 2018). Appreciations are given to the employee because of a good performance of the employee.

Welcoming new ideas

Different ideas are given by the team members. Ideas from different team members should be welcomed by the leader. If the leader found idea suitable for the organisation then that Idea is implemented. The innovation can be bringing in the organisation with new ideas. This is the leadership style that will make supportive (Javidan, et. al., 2006).

Empower each individual

Little encouragement is very useful buy the leaders. If the encouragement is given to the individual on the small good performance then it will be a quite motivating moment for the team member. Therefore this leadership style will be helpful for me to encourage team members for working on the future challenging task.

Healthy competition

Competition between employees can be created by the leader. This will make the employees enthusiastic. They will work enthusiastically to be in the top of the competition. Competition can be created by me for the completion of the important task with full of commitment by the team member.

Celebrating success

After the accomplishment of the important task, it is very necessary to celebrate success. This can be possible with the help of creating a theme party in the workplace. This type of parties will make me involve efficiently among the team members. Team members will also able to know each other personally is such parties. This will enhance the commitment of team members towards the organisation.

Coach others, receiving and giving feedbacks

Coaching others about the self-awareness and self-leadership development will be helpful in making good communication skills. Pre-preparation before the coaching can be done every day. This will be helpful for an individual to which I will train. Feedbacks from the team members will be connected regarding the change in my skills. Any limitation will be provided by them regarding my skills. I will also able to make constructive changes regarding their personal leadership development by the means of training.  For the development of communication skills, various communication techniques can be implemented by me. The development in the communication skills will also be the result because of this training. Feedbacks regarding the communication will also be getting from this training (Hinck, 2017). This training will provide me with an opportunity to improve my communication skills.

Emotional intelligence

It is the analysis of own emotions. The balance can be created between the emotional life and professional life with the help of emotional intelligence. This is the learning that will make me emotionally strong in different situations at the time of working. Emotion can be perceived by the self-analysis. Behaving right according to the situation is the next step. Understanding the emotions of the team member that are associated to be can be possible only with the emotion analysis. Managing the disturbing emotion of other can be possible with the help of an analysis of the situation and emotion both.

Emotional intelligence will benefit me in different aspects. This will help me to develop my leadership styles. Team performance of the organisation can be increased with the help of emotional intelligence. Occupational stress can be decreased with the help of emotional intelligence. This will be helpful for me for not coming into the stress in any critical situation in the workplace. The decision making can be improved the emotional analysis. The ability of leadership enhanced because of all the benefits of emotional intelligence. This intelligence also provides personal wellbeing of an individual (Hinck, 2017). Reduction in staff turnover can be seen because of the analysis of emotional intelligence.

Active listening

An active listener will always be a good communicator. Active listening can be possible with the help of attentiveness among the individual. I will ask the team members to be attentive at the training session that will be given by me. The open-ended question will be asked by my team member. These questions will make me accountable in different situations. Clarification on the different questions will be given by me. I will also ask clarification from others to develop their communication skills. Paraphrasing can be possible with the help of active listening. This will be helpful in making the agreements from another party. Feelings can be reflected with the help of active listening. The feeling of another individual can be analysed with the help of active listening. Summarising the whole conversation can be possible with the help of active listening. In this way, active listening will be helpful for developing my communication skill in different aspects.

Empathy building

This can be possible with the help of listening to others. The viewpoint of the other individual should be considered seriously. This is the main step for building empathy. After welcoming the other viewpoint, it will be validated by me if I found that point suitable for the organisation. My attitude will be examined by me at the situation. The response of the other individual in this situation after validating the idea of that individual should be analysed (Kostina-Ritchey, et. al., 2017). The Other changes that the particular individual wants to implement should also be welcome. This is the technique that will make me learn the ethics that has to be followed by the authority of the leader.

Collecting feedbacks

Feedbacks regarding my learning can be collected from others. Feedback regarding my training can all be collected from the team members. Feedbacks are very essential for the constructive steps that can be taken for improvement.

Reflective practice and continuous learning

The necessary steps that are accomplished in this assessment will be regular. All the steps will be followed by me in a continuous manner. This learning will provide me with an opportunity to understand the new skills continuously. Personal leadership development can be possible only with the steps that are described in this assessment. These steps will provide me with an opportunity to grow in my career.

Conclusion

Self-development of an individual can be possible with the help of self-awareness. Self-awareness is also helpful in building a strong leadership of an individual. The leadership theories also provide learning regarding the leadership styles that can be implemented in the career. The motivation can be helpful for the team members. Motivating others also provides an opportunity to develop leadership skills. Training others will be beneficial for developing communication skills. Leadership can be developed by a continuous process of skill development.

References

1. Champy, J. (2009). Authentic leadership. Leader to leader, 2009(54), 39-44.
2. Globe. (2018). Global Leadership & Organizational Behavior Effectiveness. [Online] Globe. Available at: https://globeproject.com/results/countries/AUS?menu=country. [Accessed: 29 November 2018].
3. Hinck, J. (2017). Designing an Organizational Leadership Development Program: A Case Study Approach. The Journal of Nonprofit Education and Leadership, 7(4).
4. Javidan, M., House, R. J., Dorfman, P. W., Hanges, P. J., & De Luque, M. S. (2006). Conceptualizing and measuring cultures and their consequences: a comparative review of GLOBE’s and Hofstede’s approaches. Journal of international business studies, 37(6), 897-914.
5. Kostina-Ritchey, E., Velez-Gomez, P., & Dodd, S. L. (2017). STUDENT ASSETS AND COMMITMENT TO LEARNING IN AN AFTERSCHOOL LEADERSHIP DEVELOPMENT PROGRAM: Looking Beyond the Myths. Middle Grades Research Journal, 11(2).
6. Lamm, K. W., Sapp, L., & Lamm, A. J. (2018). A Longitudinal Evaluation of Change Leadership within a Leadership Development Program Context. Journal of Leadership Education, 17(3).
7. Lin, T. B., & Chen, P. (2018). The Inception of a Curriculum Leadership Development Program in Taiwan: Rationales and Designs. Chinese Education & Society, 51(5), 324-336.
8. Sowcik, M., Benge, M., & Niewoehner-Green, J. (2018). A Practical Solution to Developing County Extension Director’s Leadership Skills: Exploring the Design, Delivery and Evaluation of an Online Leadership Development Program. Journal of Agricultural Education, 59(3), 139-153.

Appendix

Planning template

Activity	Duration	Psychometric Result
Self-awareness	3 month	Able to take quick and fast decision with a positive attitude
Behaviour development	5 month	Able to behave well with different people
Situation tackling	4 month	React and do according to the situation that gives a good result for the organisation
Contingency handling	4 month	Able to eradicate issues and problems in the organisation
Motivating other & self-motivation	3 month	Commitment and responsible behaviour towards work can be increased
Train other for my communication skills	5 month	Communication skills can be made better

 

Introduction

In this assessment, there is the analysis of the various issues that are with the tourism sector. The main issues that are discussed in this assessment are terrorism, employment and sustainability. All the issues are discussed in this assessment that provides good insight on the topic. 

Terrorism

Terrorism is increasing day by day in different parts of the world. Terrorism impacts negatively on the tourism of the world and Australia. Various attacks are taking place in different countries that affect the security of the tourists (Vermeersch, et. al., 2017). Tourist gets feared because of a terrorist attack in a particular country. Countries issues guidelines regarding not to go in the countries for tourism their terrorist attacks are taking place.

Brighton siege

Yacqub shares what’s the 29-year-old Somali Born individual. This person shot a receptionist of a service apartment in the Brighton. This individual was having a connection with ISIS a terrorist group. Later this individual was died because of a police shootout.

Melbourne stabbing attack

In the year 2018, a person set a fire in the utility vehicle in Melbourne. Then this attacker kills one individual on the street. Two other persons were wounded by this individual. The utility vehicle was exploded because of the Fire (Battersby, 2018). This individual was also shot dead in the Shootout by Victorian police.

These are some of the recent attacks that affect the mood and motivation of tourists to visit in Australia. Visa the incidence that can take place with any tourist that visits Australia. Tourism of Australia is considering this issue very seriously. The CEO of tourism in Australia is insisting that these are the tragic events that take place in Australia. The security is one of the main factors that are considered by International travellers coming to Australia. Terrorism in Australia is isolated but it can’t be taken lightly. Involvement of the tour operators in accomplishing the security are the necessary steps that had taken by tourism of Australia for motivating The Tourist. This is step will not affect the tourism of Australia.

Employment

It is one of the main issues in the tourism sector. Employment in tourism is not stable. It varies on the number of tourists visiting the particular country. In the whole world, the types of tourism take place that is seasonal. 

Migration

Due to the climate condition Migration of birds take place from one country and continent to other country and continent. This migration creates tourism in a particular country. Therefore in that particular season tourism take place at that location. This is the reason for the seasonal employment in the tourism sector.  The people that are associated with tourism have to be unemployed in the non-seasonal time (Smith, 2015). In Western Australia, approximate 175000 Birds come to Australia in the spring. Various types of ducks species and Roebuck Bay come to Australia. The situation creates a seasonal employment to the people that are involved in tourism of bird sanctuaries.

Climatic and geographical condition

The climatic condition of Australia is such that people love to visit in this country from December to February in the summers and from June to August in the winters. Great Barrier Reef is one of the tourist sites in Australia is always remains warm. In the summers the temperature rises to this tourist site up to 90°C. Rainfall is also taken place in plenty of amounts at this region. Therefore people used to visit this site in winters (Wachowiak, 2016). gold cost is always having a good weather condition fall of the Year, therefore, this is the region in which tourist used to come in summers as well as winters but the tourist is absent in the rainy season. Therefore these geographical and climatic conditions affect the employment of the people that are associated with tourism in Australia. The same is the situation with different countries in the world.

Sustainability

Sustainability is another factor that is at risk and became an issue regarding tourism.

Pollution

Pollution is a major threat that is being accomplished at the tourist sites. The Tourist sites are losing their beauty because of pollution. A large number of tourist to the tourist sites is becoming a serious cause of pollution near the tourist sites. Vehicle emission near the tourist sites due to a large number of tourist visit results in pollution. This issue is impacting greatly on the appearance of the tourist sites. All types of pollution like land pollution; air pollution and sound pollution are caused by the large number of tourist at tourist sites (Salazar, 2012). Pollution is one of the main issues that are taking place in tourism.

Resources

Near the tourist sites like natural tourist sites, various natural resources are present. The beauty of these sites is because of the presence of natural resources. A tourist visiting these sites is impacting negatively on the natural resources of the natural site. The Tourist that are doing camping and tracking effects these resources greatly. The beauty of these resources gets affected results in less tourism at these sites in the coming year. The resources are the natural beauty of any tourist sites. Therefore these tourist sites should not be affected at any cost.

Therefore it is very necessary to implement the sustainable development program at these sites so that tourist motivation regarding visiting these sites will remain active. The sustainability of the tourist site can be maintained by the local support also. The awareness programme among the tourists can be developed by the tour operators. These tour operators can also make aware The Tourist regarding not to affect the tourist sites at any cost. Limitation of the vehicles at the tourist sites should also be done so that pollution can be Limited at these sites. This wills the result in none damaging of the sites at any cost (Suhud & Willson, 2016).

Conclusion

It can be concluded that there is the type of issues are there in tourism. A large number of tourist sites is affected by pollution. Seasonal employment is also impacting negatively on the tourism of the world. Terrorism is a threat to tourism.

References

Battersby, J. (2018). Terrorism Where Terror Is Not: Australian and New Zealand Terrorism Compared. Studies in Conflict & Terrorism, 41(1), 59-76.

Salazar, N. B. (2012). Community-based cultural tourism: Issues, threats and opportunities. Journal of Sustainable Tourism, 20(1), 9-22.

Smith, M. K. (2015). Issues in cultural tourism studies. Routledge.

Suhud, U., & Willson, G. (2016). Giving Over Taking/Receiving in Volunteer Tourism.

Vermeersch, L., Willson, G., & Sanders, D. (2017). Climate changes impact on tourism: the attitude of Australia’s Generation Y. Journal of Hospitality Application & Research, 12(2), 24-40.

Wachowiak, H. (Ed.). (2016). Tourism and borders: contemporary issues, policies and international research. Routledge.

Introduction

Innovation is very necessary for any organisation. There are various current trends in any type of industry. Trend changes according to time. Therefore it is necessary to implement the change in the product. This can be helpful with the help of new ideas and innovation. Ideas are implemented for making the product better than the present condition of a particular product. Various problems regarding the products can be solved with the help of innovation (Björkdahl & Holmén, 2013). The productivity of the product can be enhanced with the help of innovation. Apple is having very innovative products. Innovation in the products of Apple results in a large number of sale. This assessment analyses the innovation of Apple. This report provides information that innovation is helpful in making a good offering to reach a large number of customers. Resources can be organised well with the help of innovation in the business.

Types of Innovation – Radical and incremental innovation in smartphone industry

All the devices that are made by smartphone companies are user-friendly. It is not the situation in which users are having trouble of using the devices. The connection of humanness is bringing by smartphones with the technology in the products. This strategy attracts a large number of customer towards this industry. This leads to growth and research on further innovation. It is the thinking of companies that they are designing a product for the human fingers and hands. Smartphone companies are designing their products for the humans not for the code Jockeys (Innovarsity.com, 2018. 

Internet connectivity also played a great role in bringing the innovation in this industry. The art and the design in the product attract the customer. The design of the product is inspired by humanity. The human values are embedded in the products in the present smartphones. The product of present companies is the intersection of Science and humanity (Heracleous, 2013).

Radical innovation

It is the type of innovation that has never been experienced by customers. The acceptance of these type of innovations takes time to be accepted in the market. In the smartphone industry, the radical innovations by apple are: –

Formulation of offerings

According to Gershon (2013), Apple is one of the leading Smartphone, laptop and computer manufacturing organisation. This company also manufactures accessories of smartphone, laptop and computers. This organisation is one of the leaders in innovation in the world. This organisation provides unique features in its product. The uniqueness of the product results in innovation. The unique combination of great software involved in hardware results in large customer base for this organisation. Apple is having the ability to create new business species Björkdahl, J. and Holmén, M., 2013that helps in the creation of New Market Niche. Most popular products of Apple are iPhone, MacBook, iTunes, iPod and iPod. These are the products that show the great innovation in offering a product to the customer. The innovation is bringing in the Apple according to Vision and Mission of the organisation. The organisational structure of Apple matches with firm strategy.

Beauty in product

The engineering to the product of this company is accomplished so that beauty in the products can be implemented. The products are designed in such a way that they are good at Eyes. It was the belief of Steve Jobs that human being never holds ugly things in their hand. With this belief beauty in design was brought by Apple.

Incremental innovation

These are the type of innovations that are developed which are already present in the market and experienced by the customers. These innovations are developed in smartphone industry by Apple as: –

Innovative partnerships

Apple creates opportunity in the market for its partner to get a large number of profits. This opportunity can be created by Apple because of innovation. Every new product of Apple is having new innovation (Cheng, et. al., 2014). New innovation creates a difference in the market. This brings the customer to the Apple Store.

Supply chain

Apple over-invest in the supply chain management. Apple has a tendency to launch its product with the new innovation. It is the trend in the market that after the launching of the product, it gets popularised. This can result in a shortage of the product in the market.

4ps model of exploring innovation

Paradigm 

Apple manufacturer’s smartphones like iPhone and also manufacturer’s iPod. These products will never be successful if there will be no App Store and iTunes. This is the innovation strategy that is followed by Apple. The app store is the smartphone application store licensed only for Apple products. Apple user can download any of the smartphone apps from App Store. Most of the Smartphone manufacturers are not having their own operating system. They purchase the licence of Play Store for smartphone applications.

Product 

The employees of this organisation do face to face discussion regarding the product and its offerings that is made by the company. There can be another way like instant messaging and teleconferencing that can be used for discussing regarding the product. Apple always focuses on creating the product such that positive review can be circulated in media. Apple takes help from an influencer. This company believes in face to face analysis about the product among the employees of the organisation. The opinion can be made by any employee of the organisation regarding the correct (Lehman & Haslam, 2013). This is helpful in making the product very useful for the customer. Various problems and issues regarding the product can be analysed with the help of this discussion. The endless test is conducted by Apple before launching the product in the market. The product is offered to the customer full of analysis. The collaboration is bringing by apple for the promotion of innovation in the product.

Process

The resources of Apple can be managed well with the help of innovation. Apple is having most high price product in the market even then there are higher sales of Apple product in the market. This is because Apple places its product with unique values in the market. This helps in value creation and branding of this organisation. App stores are having innovative apps that are helpful in creating a success story for the products of Apple. A user can easily download the applications from the App Store and use them for their utility (Shuler, et. al.,  2012). iPhone get its platform in the world market because of App Store. The strong business model for Apple is because of Association of product with the software and other technology that is also made by Apple. iTunes is used in Smartphone as well as iPods. iTunes is a media player from which online music can be played. iTunes launched on 9th of January 2001. It can be operated in Mac OS. Mac OS is the graphical operating system that is developed by Apple for its product.

There is no permission required for Apple products while using app store and iTunes. Products and the software both are developed by Apple. These are the main resources of Apple hands can be easily managed as developed and operated by Apple only. This business model is creating a large amount of profit for Apple. The applications present in the app store are user-friendly and authenticated. There are very less chance of malware entering in the Smartphone and laptop application of Apple. This creates trust among the customer. This is the milestone example of innovation that is managing its software as well as hardware resources (Innovarsity.com, 2018).

Position

Apple is blessed with employees like Steve Jobs. Innovation is promoted by Steve Jobs in this organisation (Kapoor & Agarwal, 2017). With the help of innovative process the customers can be targeted by the apple at different places like in the seminar, public gatherings. The online advertisements and the TV commercials are also the good tools of targeting the people by Apple. Innovative ideas were welcomed from any of the employees of Apple at the time of Steve Jobs as well as the present by which targeting of the customers can be possible.  

Sources of Innovation

Partnership

Apple stores are operated by the franchise of Apple. The growth in the business of Apple results in the growth of partners also. With the help of innovation, partners can be managed as they are also interested in future business with Apple. Therefore it is an innovative strategy that is implemented by Apple for its partner.

Distribution

For no shortage in the market Apple over-invest in the supply chain. Products of Apple are easily available in the market because of innovative supply chain strategy. The demand for pre analysed of the products of Apple. According to the demand-supply of the products are accomplished (Wijaya, 2013).

Nurturing talent among employees

Employees of this organisation help each other in the critical situation regarding Technology. This helps in the development of the technology at Apple. With the help of this coordination, Apple is easily able to manage their staff. When Steve Jobs was the CEO of Apple he always nurtures his employees to take their talent out for the products. The motivation strategy is always followed by since or for the employees of Apple.

HR as executive

The HR department of Apple is treated as an executive department. All the risk that is associated with apple is provided by the HR department of this organisation. Constructive measures that can be taken for mitigating the risk are also provided by the HR department. Effective communication is managed between the employees by this department so that coordination among the employees can be increased (Ngo & O’cass, 2013). This results in effective innovation for the organisation. The human resource of this organisation designed an innovative system. the creativity can be harness among the employees because of the innovative system used by this organisation (Khan, et. al., 2015).

Push and pull influence innovation in Apple 

Reaching to customers as push factor

Apple talks to their customer in their language. This helps the customer to feel close to the Apple. This is the strategy that is implemented by Apple attracts a large number of customer. This provides a better customer experience with the customers of Apple. The advertisement for Apple products are made that prospects emotions. The emotion of the common man is in the advertisement of Apple products (Apple, 2018). This creates a sense of belonging among the customers. Influencer is helpful in targeting the relevant audience regarding the products of Apple. The marketing that is accomplished by this organisation is done with the product story. The marketing is done in a simple way that is easily understood by any customer (Apple, 2018). This simplicity helps in targeting the customer easily.

Venture acquisition as pull factor for innovation

The steps are taken as pull factor by the Apple is venture acquisition. The innovation can be bringing in the organisation that will easily attracts the customers. Apple purchased many of the organisations for organising resources and creating innovation. In 1998 network innovation was purchased by Apple. This helps the Apple to get Intel processor in their product. In 1998 Macromedia’s intellectual property was acquired by Apple. At the same time employee team that developed video editing program was also acquired by Apple to establish itself in the video editing market.

The 2005 acquisition with Finger Works helps this organisation in the touch technology by acquiring this company various patents was also acquired by Apple that is used in the iPhone and iPad. The digital advertisement Campaign of the Apple is fulfilled by acquiring the Quattro wireless in 2010. The advertisement in the mobile device can be possible with the help of this organisation. This helps the apple in fulfilling the advertisement strategy. The software application market is based on advertisement and their utility (Innovarsity.com, 2018). 

Venture acquisition help in managing the present innovation of Apple. A new innovation in this organisation is also created because of venture acquisition. This new innovation can be managed by that organisation from which acquisition is done by Apple. In this way, various resources that are necessary to develop for Apple can be possible with an acquisition. An acquisition is also creating sustainability for apple. The acquisition helps in the development of new products with effective management of the resources that are needed in developing those products. This development is possible with the help of acquisition only.

Conclusion

Innovation is very necessary for any organisation. Innovation brings new ideas and technologies in the organisation. Innovation also helps in facilitating the business of organisations like apple. With the help of innovative offerings can be made to the customer easily. The method of reaching to the customers can be made simple with the help of innovation. Easy management of the organisational resources can be possible with the help of innovation. Innovation is helpful in creating business growth. This business growth provides a good amount of profits to Apple. The value added to the business can be created with the help of innovation.

References

Apple. 2018. Marketing Resources and Identity Guidelines [Online]. innovarsity.com. Available at: https://developer.apple.com/app-store/marketing/guidelines/. [Accessed: 4 December 2018].

Björkdahl, J. and Holmén, M., 2013. Business model innovation–the challenges ahead. International Journal of Product Development, 18(3/4), pp.213-225.

Cheng, C.C., Yang, C.L. and Sheu, C., 2014. The link between eco-innovation and business performance: a Taiwanese industry context. Journal of Cleaner Production, 64, pp.81-90.

Gershon, R.A., 2013. Digital media innovation and the Apple iPad: Three perspectives on the future of computer tablets and news delivery. Journal of Media Business Studies, 10(1), pp.41-61.

Heracleous, L., 2013. Quantum strategy at apple inc. Organizational Dynamics, 42(2), pp.92-99.

innovarsity.com. 2018. Apple’s Systemic Approach To Innovation. [Online] innovarsity.com. Available at: http://www.innovarsity.com/coach/bp_innovation_strategies_apple.html. [Accessed: 4 December 2018].

Kapoor, R. and Agarwal, S., 2017. Sustaining superior performance in business ecosystems: Evidence from application software developers in the iOS and Android smartphone ecosystems. Organization Science, 28(3), pp.531-551.

Khan, U.A., Alam, M.N. and Alam, S., 2015. A critical analysis of the internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), pp.955-961.

Lehman, G. and Haslam, C., 2013, December. Accounting for the Apple Inc business model: Corporate value capture and dysfunctional economic and social consequences. In Accounting forum (Vol. 37, No. 4, pp. 245-248). Elsevier.

Ngo, L.V. and O’cass, A., 2013. Innovation and business success: The mediating role of customer participation. Journal of Business research, 66(8), pp.1134-1142.

Shuler, C., Levine, Z. and Ree, J., 2012. iLearn II An analysis of the education category of Apple’s app store.

Wijaya, I.M., 2013. The influence of brand image, brand personality and brand awareness on consumer purchase intention of Apple smartphone. Journal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi, 1(4).

Executive summary

In this assessment measurement of performance for the Samsung is accomplished. The strategies that are involved in the performance management by the Samsung are also analysed. The stakeholders are the main entity of any organisation. The methods that are involved by the Samsung for the management of risk associated with this organisation are also determined in this assessment. The financial performance that is accomplished by this organisation is described in this assessment. The perception of the customers regarding the performance of Samsung is also presented in this assessment. The recommendations that are necessary for the improvement of performance are investigated in this assessment.

Introduction

Performance management is a whole new aspect which starts as soon as an employee enters the organization and ends with the resignation of the employee. Performance management facilitates communication with its employee and helps the organization in measuring the performance of the employee and appraising the employee. Samsung manages the performance of its employee and provides them with incentives to them motivated towards the work. Performance management not only includes the employee performance but also how the organization creates and maintains their stability in the market. How they manage their risk and communicate with their stakeholders. How they react to the feedback and perspective of customers and clients (Chow and Gender, 2015).

It also, makes sure that the operation of Samsung is running effectively and the evaluation and of the performance is done accurately. In the end, the deviations in the performance are analyzed and proper implementation towards it is made.

Organizational performance management and performance measurement

Samsung is a Korean based company offering services to its customers and job opportunity to its employees for 50 years approx. Samsung is the second largest information technology company in terms of revenue in the world. Samsung deals with electronic items like mobiles, laptops, television, refrigerators, etc. The organizational performance management system is the process of analyzing, evaluating and managing the performance of the organization throughout the year. By using the previous data and information, the performance of Samsung’s employee is measured so that the appraisal to the employee could be given. It helps in analyzing that whether the performance of the employee matches with the performance meters set for the employee, and if not, corrections to the policies are made (Grant, 2016).

(Figure: Performance management)

(Source: Grant, 2016)

Performance management is an art of creating an environment where the employees could work with their best of abilities. It focuses on evaluating the performance rate of the employees and helps in communicating with them. It starts when an employee enters an organization and continues until he left the organization. Performance management and performance measurement are related to each other. Samsung makes sure that its employee is working in a coordinated environment where their thoughts are always given a place and they are also motivated for their achievements so that they could give their best performances. Samsung uses the pricing strategy for its employee. Towards the best contribution, the employees are awarded and appraised. Many training and development programs are running in a year and the grievances of the employees are communicated so that they could feel the safe and important in the organization (Chadwick, et. al., 2015). 

Performance management helps in the welfare of the employee and thus, develops the skills and standards of its employees. By motivating and waking their initiatives, Samsung could be able to gain effective performance of its employee and thus, the organization. Good performance results in optimum utilization of its resources and help in achieving its objectives effectively and efficiently and thus, helping Samsung, in establishing good brand value in the market.

Communicating performance to stakeholders

Communication is the most important aspect of any business. Samsung makes sure that it communicates with each stakeholder so that it could be able to build good relationships with them.

Stakeholders	Promotional schemes	Communicating ways	Expectations
Employees	Samsung hires and cultivates talented and skilled people and provides them with adequate training and development throughout the year. It provides time to time performance appraisal to them and provides them with good incentives.	Multidimensional evaluation, VOE.	The welfare of the employees, their development rate, appraisal, and fair compensation.
Shareholders	Samsung understands the importance of its stakeholders and regularly communicates with them via shareholders meetings and minute maids. It helps the shareholders in knowing the issues and also the achievements of the organization, thus helping Samsung in establishing good relationships.	IR activities, Meetings of shareholders (Hatch, 2018).	Cooperation with them, increasing the values of shareholders.
Customers	Samsung values its customers and understands the fact that the customer is its ultimate aim. They aim at providing maximum satisfaction to its employees, by keeping regular communication procedure with its clients. It welcomes the feedback of its customers and always works on it. It treats the customer as part of its organization and adopts new schemes for providing benefits to its employees.	CS surveys meetings, VOC.	Increases customer satisfaction and support, aids on providing the protection to the privacy of its customers.
Government	Samsung fulfills all the rules and regulations of the government and maintains healthy relationships with the central power. Through, seminar and conferences, it provides the performance o the company and keeps transparency with the government. It relays on the fact that, with the mutual relationship both the party could grow together.	Seminars, conferences, Magazines and newspaper supplies (Basole, 2016).	Management of governable ethics, legal compliance.

Risk management

From the recent reports and data, it could be seen that the customers are not satisfied with the performance of the Samsung. Many reports regarding the explosions of the phones have been seen. Hanging on the phone is the main and the most accepted problem in the Samsung products. 

(Figure: Risk Management)

(Source – Fainshmidt, et. al., 2016)

Samsung should try to minimize it. Risk management helps the company in managing its risks and moving ahead. Risks directly aim at the downfall of the company. Risk management helps the company in identifying the risks in the company and helps the company in framing new laws and policies for the company so that it could be able to minimize it and rise in the market (Fainshmidt, et. al., 2016).

Quality management and improvement

Quality is something which should not be compromised. Samsung aims at providing quality products at reasonable rates. Samsung says that quality should never be ignored for quantity. By providing qualitative services to its customers, it provides satisfaction to its client and thus, increases its business. Quality management involves the activities where the quality of the product or service is measured and compared to its standards sets, if any deviations occur in that, new protocols are formed, and a better product is supplied (Gruber, et. al., 2015).

Samsung works on achieving excellent quality products so that it could outshine in the market. Samsung deals in electronics items and compromising the quality in this fields leads to the losses and no interest from the customer because of the competition in the market. To gain a successful business, Samsung makes sure that all its operations are qualitative and the work is going on effectively and efficiently.

Financial performance

Samsung has stable financial resources and is the highest revenue earning company in the sector. It aims at quality products at affordable prices which helps in generating customers for the company and thus, helping in increasing revenues of the company. Samsung has achieved able financial goals and is capable of achieving them. Financial performance helps to measure and to maintain the policies and operation of the firm in a year. From the data and information, available it could be seen that revenue of Samsung is increasing year by year and is becoming the top competition for the well-established firms like Apple. In the past years, some of its products saw the downfall in the market, but overall Samsung is working for uplifting its company’s brand and is establishing an excellent track for achieving its financial objectives (Arora, et. al., 2015).

Customer and client perspective

The customer is the ultimate resources of the company. The company is made and ran for its customer. What a customer thinks about the company, matter a lot. Samsung makes sure that its brand image and identity is good in the market. It makes steps for analyzing that its customers are getting what it is conveyed to them and are not framing negative perspective about the company. It is important to maintain healthy relationships with the customers so that, the company could benefit through mouth advertisement. Having a positive mindset of the company, company frames new customers in the market and is able to provide satisfaction to its customers (Ramadan, et. al., 2017).

Samsung achieves mutual relationships with its clients by providing them with high-quality services through a number of channels, previously, customer centers were contacted only when, a problem arises, but now, a minute problem, customer call the call centers and figures out the solution. Samsung should aim at providing excellent customer care services to its customers and gain a positive image in the market.

People Perspective

What brand image a company is forming in the market tells a lot about the performance of the company.

Samsung’s objective is not limited to selling or promoting a product or fixing the product but also; it aims at establishing good relationships with its employees. By building interrelationships, Samsung caters at solving the problems of the customer and providing them with fuller satisfaction. Samsung also aims at providing doorstep services to its customers so that, they could not face problems of loading the products to the repair shops and bear the costs. By delivering amazing services, it helps the company in getting more investments in the wide range of its products by its customer and thus, creating huge profits for the company.

Samsung is well known for its quality products and also at reasonable prices and helps the company in generating new customers every year (Lin, 2017).

Samsung is not only customer oriented company but also focuses on the welfare of its employees. It provides time to time appraisal to its employee and creates good brand value in the market. By giving good incentives and recognition to the employees, the company is able to gain a positive perspective from the people and thus, it will be able to gain social approval.

Implementation issues

Samsung is growing day by day and is adopting new technological advancements in its products. With the fashionable mobile phone to smart television, it is taking over the market. As it is providing amazing products and service to the customer it is charging it from the customer for the same. But, customers face a lot of problems in the product of Samsung and especially in its mobile ranges (Cai, et. al., 2018). 

Mobile comes with a handy feature and is now a replica of many activities. But Samsung is compromising in the quality of the product. Problems like battery poor life glitches like bad applications performance upset the customers who are paying the high prices for the same. A most common problem that is seen in the products of Samsung is mobile hanging and automated rebooting. It disturbs the tasks of the customers and impacts the performance of the overall company (Grant, 2016). 

According to the technology, Samsung is adopting new advancements, but the portable charging mode is not up to the expectations which make customers, dissatisfied. This issue makes it hard for the company to maintain its performance and harms the image of the company too.

Recommendations for improvement

Although, the Samsung is doing good in the market, its Mobile and tablets range, is not working much in the market due to its bad performance and many other reports like an explosion of the handset and of course, the biggest problem hanging and the battery life of the mobile phone. As a result, decreasing market share of Samsung could be seen and also, dissatisfaction on the side of the customer could be observed. 

For grading up the market share and providing the satisfaction to the customer, following are the recommendations on which Samsung could act upon:

1. Improve battery life: Mobile runs in the battery and if the battery is not sufficient then, the problems will arise gradually. The customer now a day’s do not use the phone only for calling or text but also for several other activities which demand the fuller battery performance of the model. Samsung should focus on increasing the battery effectiveness of the product so that customer could be kept loyal to the company (Hatch, 2018).
2. Cutting down on new ranges of the particular product or cutting back on models: Samsung has this habit of releasing a new phone with advance feature every now and then, which upsets the customer as its possession seems to be outdated and newer one seems to be updated which makes the customer worried about the cost and performance. New and updated products symbolize the social status and market value of the customer and the outdated one declines it.  
3. Explosions of the phone should be treated: Customers face a huge problem of explosion due to heating up of the mobile phone. A mobile phone completes works or operates on the software and hardware of the product and the heating up of mobile hardware’s results in the heating and blasting up of phones. Samsung should aim at the development of good quality software having excellent performance and its heating and blasting problem should also be fixed (Budhraja, et. al., 2017).
4. Improvement in the software: Samsung should focus on gaining the advantage from its competitors. Samsung’s software is having this problem of hanging and rebooting and which needs to be fixed. Investments on the newer feature introduction in the phone should be focused so that the newer customers could be attracted.

Conclusion

From the above report, it could be concluded that the measurement of the performance of the organization and the employee is necessary for an organization. Performance management helps the organization in knowing their performance throughout the year and also, helps in knowing where the deviations are and where the corrections are needed. It helps the companies in managing risks and other uncertainties. It facilitates the communication gap between the employees and its stakeholders. It helps the company in appraising the performance of its employees and helps in taking many other decisions regarding the value and their feedback of the people. It helps in establishing interaction between the providers and customers and facilitates the facility of quick feedback. Most importantly, performance management not only measures and manages the performance but also helps in improving the quality of the performance of both employee and organization.

References

Arora, A., Arora, A.S. and Sivakumar, K., 2016. Relationships among supply chain strategies, organizational performance, and technological and market turbulences. The International Journal of Logistics Management, 27(1), pp.206-232.

Basole, R.C., 2016. Topological analysis and visualization of interfirm collaboration networks in the electronics industry. Decision Support Systems, 83, pp.22-31.

Budhraja, V.S., Dyer, J.D. and Morales, C.A.M., Electric Power Group LLC, 2017. Real-time performance monitoring and management system. U.S. Patent 7,233,843. 

Cai, J., Liu, X., Xiao, Z. and Liu, J., 2018. Improving supply chain performance management: A systematic approach to analyzing iterative KPI accomplishment. Decision support systems, 46(2), pp.512-521.

Chadwick, C., Super, J.F. and Kwon, K., 2015. Resource orchestration in practice: CEO emphasis on SHRM, commitment‐based HR systems, and firm performance. Strategic Management Journal, 36(3), pp.360-376.

Chow, J. and Gender, T.K., Honeywell International Inc, 2015. Flash memory management system and method utilizing multiple block list windows. U.S. Patent 6,895,464.

Fainshmidt, S., Pezeshkan, A., Lance Frazier, M., Nair, A. and Markowski, E., 2016. Dynamic capabilities and organizational performance: A meta‐analytic evaluation and extension. Journal of Management Studies, 53(8), pp.1348-1380.

Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.

Gruber, M., De Leon, N., George, G. and Thompson, P., 2015. Managing by design.

Hatch, M.J., 2018. Organization theory: Modern, symbolic, and postmodern perspectives. Oxford university press.

Lin, C.S., 2017. Untangling the relationship between strategic consistency and organizational performance: An empirical analysis of moderator variables. Journal of Management & Organization, 23(4), pp.483-503.

Ramadan, B.M., Dahiyat, S.E., Bontis, N. and Al-Dalahmeh, M.A., 2017. Intellectual capital, knowledge management and social capital within the ICT sector in Jordan. Journal of Intellectual Capital, 18(2), pp.437-462.

 

Property Id	Market Price ($000)	Sydney price Index	Total number of square meters	Age of house (years)
1	971	95.4	348.2	2
2	971	90.0	336.1	3
3	966	97.9	335.0	9
4	965	135.7	328.2	10
5	964	121.1	316.8	14
6	958	136.7	309.1	12
7	955	141.3	308.9	8
8	952	89.8	307.7	14
9	948	183.9	306.8	13
10	944	94.6	300.4	6
11	932	96.7	299.2	5
12	931	90.1	295.7	8
13	925	65.5	293.0	7
14	921	147.3	292.7	7
15	920	122.2	292.5	10
16	917	183.0	292.0	4
17	915	120.9	291.3	11
18	913	70.8	289.8	9
19	912	144.0	287.8	4
20	908	108.7	281.9	11
21	905	125.6	281.1	7
22	902	76.5	280.4	8
23	893	110.6	280.1	7
24	893	91.8	277.5	12
25	885	116.5	277.3	6
26	885	104.1	277.3	15
27	885	124.1	275.0	14
28	884	147.1	274.4	10
29	883	75.8	274.1	13
30	879	106.3	274.1	12
31	879	97.3	273.9	19
32	879	86.8	273.0	6
33	878	54.6	272.5	9
34	878	93.1	272.3	9
35	877	133.9	272.0	9
36	877	118.0	272.0	13
37	877	155.7	271.4	1
38	875	83.2	271.4	19
39	875	129.0	271.4	18
40	874	77.5	269.5	11
41	874	96.3	269.4	17
42	874	94.8	269.1	17
43	873	87.5	268.7	12
44	872	122.5	267.7	4
45	871	130.7	267.0	8
46	866	104.9	266.4	12
47	865	143.6	266.4	10
48	865	93.7	265.6	11
49	863	133.3	265.0	14
50	863	156.8	262.0	16
51	863	63.2	259.2	11
52	863	84.9	258.7	22
53	863	113.3	258.7	18
54	862	118.3	256.8	12
55	862	77.1	256.4	17
56	862	137.6	254.5	3
57	861	85.4	253.3	22
58	860	132.5	253.3	10
59	859	123.0	253.2	19
60	859	82.3	252.5	22
61	858	87.2	252.5	16
62	856	115.0	251.9	10
63	856	111.8	251.8	37
64	855	131.3	251.4	21
65	853	171.6	250.5	24
66	852	61.8	250.2	38
67	849	135.5	249.7	31
68	847	149.8	248.2	4
69	846	132.5	248.1	35
70	846	64.4	248.0	10
71	846	69.8	247.8	34
72	846	101.7	246.4	29
73	845	71.8	245.9	31
74	845	132.7	245.2	3
75	845	89.7	244.8	13
76	844	141.1	244.8	40
77	843	123.5	244.2	33
78	843	73.4	243.6	27
79	842	84.9	242.9	10
80	842	113.4	242.9	39
81	842	70.6	242.5	14
82	841	101.5	242.3	19
83	840	66.6	242.3	12
84	839	142.2	242.0	25
85	839	117.6	241.6	19
86	839	94.1	241.6	25
87	839	171.0	241.1	34
88	838	78.0	241.0	17
89	838	124.3	240.4	25
90	838	82.9	239.6	5
91	837	85.3	239.4	30
92	837	136.3	239.2	22
93	836	110.3	239.2	3
94	836	85.3	238.9	2
95	835	137.4	238.7	24
96	835	90.9	238.6	34
97	835	79.6	238.5	15
98	834	79.8	237.3	53
99	834	67.1	236.9	30
100	834	153.1	236.7	16
101	833	79.3	236.0	23
102	833	111.5	235.8	34
103	833	133.5	235.2	12
104	832	139.9	235.0	18
105	832	93.2	235.0	1
106	832	117.6	234.9	13
107	831	98.0	234.6	24
108	831	94.0	234.4	10
109	831	92.1	234.4	22
110	830	65.5	234.4	5
111	829	84.2	234.4	40
112	829	113.8	234.3	28
113	828	91.2	234.2	32
114	828	148.4	233.9	6
115	827	99.0	233.8	28
116	827	112.9	233.8	15
117	827	99.8	233.0	4
118	827	69.8	232.6	10
119	826	107.1	232.5	8
120	825	90.8	232.4	12
121	824	92.2	232.2	1
122	823	136.3	231.8	24
123	823	126.4	231.7	15
124	822	87.4	231.2	1
125	822	90.3	231.2	6
126	822	90.8	231.0	45
127	822	168.1	230.5	44
128	820	110.8	230.3	3
129	819	131.7	230.0	1
130	819	112.3	229.6	9
131	818	134.1	229.3	7
132	817	105.6	229.0	38
133	816	130.9	228.6	15
134	815	60.6	228.5	1
135	815	131.0	228.1	31
136	815	78.9	228.0	32
137	814	109.1	227.7	10
138	812	81.6	227.5	24
139	812	47.1	227.5	29
140	811	125.0	226.8	20
141	810	85.6	226.7	19
142	810	104.5	226.3	19
143	810	160.8	226.0	46
144	810	124.2	225.6	19
145	809	115.1	225.5	26
146	808	126.9	225.5	18
147	807	80.7	225.5	23
148	807	89.5	225.1	9
149	806	63.5	224.7	22
150	805	126.1	224.5	2
151	805	149.0	224.1	9
152	804	94.4	223.8	8
153	804	96.9	223.7	18
154	803	83.1	223.1	20
155	801	131.5	223.1	15
156	800	79.0	223.1	17
157	799	108.0	222.8	11
158	798	67.2	222.7	15
159	797	69.3	222.7	8
160	797	110.3	222.4	24
161	796	90.4	221.5	18
162	796	109.5	221.3	9
163	796	108.1	221.2	13
164	795	115.3	220.8	1
165	795	98.2	220.8	6
166	794	133.0	220.5	10
167	793	103.5	220.2	15
168	793	79.6	220.2	5
169	793	110.2	219.8	22
170	792	45.5	219.6	8
171	792	61.3	219.3	23
172	792	111.6	218.8	2
173	791	106.6	218.3	12
174	791	100.8	217.4	34
175	790	100.9	217.3	46
176	790	91.8	217.3	9
177	789	117.5	216.9	23
178	789	74.9	216.5	0
179	789	85.5	216.4	16
180	789	122.1	215.7	37
181	788	129.0	215.6	13
182	788	38.6	215.6	45
183	787	99.5	215.2	16
184	787	78.0	215.1	30
185	786	154.9	215.0	20
186	785	112.5	214.5	2
187	784	121.5	214.3	1
188	784	100.8	214.3	18
189	783	118.8	213.8	16
190	781	132.3	213.5	1
191	781	111.1	213.4	8
192	780	167.6	212.9	5
193	780	56.5	212.8	1
194	780	90.2	212.8	3
195	779	83.7	212.6	14
196	779	103.7	212.4	32
197	779	116.9	211.8	13
198	778	129.4	211.3	8
199	778	139.4	211.1	30
200	778	106.2	211.0	48
201	777	97.0	211.0	7
202	776	109.0	210.3	27
203	776	130.6	209.7	21
204	776	127.2	209.6	18
205	776	168.2	209.6	34
206	775	102.4	209.5	8
207	775	76.3	209.3	20
208	774	145.8	209.3	15
209	774	103.5	209.1	31
210	773	107.2	208.7	23
211	773	86.9	208.4	1
212	772	115.4	208.2	30
213	772	102.7	208.2	19
214	772	120.4	207.4	33
215	772	128.2	207.1	53
216	771	95.9	207.1	11
217	771	197.1	206.8	7
218	771	81.2	206.6	24
219	771	110.9	206.1	2
220	770	103.9	205.4	30
221	770	140.8	204.7	11
222	770	135.6	204.0	24
223	768	103.3	203.7	27
224	768	54.2	203.7	10
225	768	23.1	203.6	31
226	768	105.5	203.2	28
227	767	133.8	203.2	27
228	766	64.5	203.2	3
229	766	76.9	202.2	8
230	765	152.1	201.7	17
231	764	56.7	201.6	31
232	763	130.8	201.5	9
233	763	81.3	201.4	25
234	763	118.0	201.0	18
235	763	113.7	200.9	20
236	762	114.6	200.3	19
237	762	121.3	200.1	19
238	761	83.5	200.0	34
239	761	132.7	200.0	16
240	759	100.3	199.5	25
241	759	70.6	199.3	23
242	759	59.2	198.5	42
243	759	85.2	198.2	36
244	758	127.0	197.6	8
245	756	142.7	197.1	1
246	755	76.7	196.8	29
247	755	65.6	196.4	20
248	754	146.6	196.4	17
249	754	82.1	196.3	3
250	754	164.9	196.1	20
251	754	126.3	196.0	27
252	754	82.2	195.7	25
253	753	118.5	195.6	12
254	752	95.3	195.5	9
255	752	109.5	195.1	6
256	751	114.3	195.1	1
257	751	75.4	194.2	35
258	751	140.2	194.1	41
259	749	110.0	193.9	33
260	749	97.2	193.8	14
261	748	107.4	193.6	31
262	748	87.5	193.5	20
263	748	59.6	193.5	31
264	748	65.1	193.4	17
265	748	89.9	193.2	37
266	748	105.4	193.2	10
267	747	129.1	193.1	38
268	747	120.9	192.9	8
269	747	141.2	192.9	14
270	746	87.0	192.6	41
271	746	121.0	191.7	26
272	745	99.4	191.3	0
273	745	126.5	191.2	26
274	745	88.4	190.4	4
275	744	103.4	189.7	13
276	743	94.6	189.3	3
277	742	65.5	188.9	17
278	741	60.1	188.7	16
279	741	97.9	188.6	1
280	741	134.7	188.3	33
281	740	107.1	188.2	30
282	739	93.4	188.0	25
283	739	72.4	187.3	2
284	738	144.3	187.3	35
285	737	75.8	185.9	23
286	735	66.7	185.5	7
287	735	93.5	185.4	32
288	735	65.3	185.2	24
289	735	153.5	184.7	18
290	734	103.6	184.4	39
291	734	159.1	183.8	32
292	732	73.9	183.8	21
293	732	102.8	183.4	26
294	732	81.1	183.3	6
295	732	141.0	182.3	28
296	731	163.0	182.3	8
297	731	68.8	182.3	25
298	730	137.7	182.2	25
299	730	124.9	182.1	28
300	730	78.2	181.1	19
301	728	144.1	180.4	5
302	728	103.2	179.2	27
303	728	119.7	178.9	21
304	727	79.2	178.7	14
305	726	124.0	178.6	31
306	726	132.9	178.4	3
307	725	141.3	178.2	0
308	724	107.8	178.2	9
309	723	77.1	177.7	12
310	722	36.2	177.6	4
311	721	19.8	177.5	17
312	720	186.3	177.3	12
313	720	137.6	177.1	11
314	719	149.2	176.3	30
315	717	134.5	176.3	20
316	717	24.8	175.2	29
317	717	114.7	174.9	26
318	716	64.3	174.8	18
319	714	65.4	174.7	10
320	714	167.5	174.4	35
321	712	106.8	174.2	17
322	712	123.7	174.0	37
323	712	67.0	173.8	11
324	710	108.2	173.2	26
325	710	118.8	172.9	25
326	710	108.4	172.8	29
327	708	123.9	172.7	31
328	707	85.6	172.6	40
329	704	154.7	172.0	7
330	704	118.8	169.6	11
331	702	108.2	168.9	16
332	702	91.1	167.7	12
333	702	96.0	166.9	15
334	700	50.3	165.3	6
335	699	107.4	164.8	21
336	698	105.5	164.7	26
337	697	108.2	164.7	13
338	696	132.7	164.6	34
339	694	138.2	164.0	7
340	691	113.1	164.0	27
341	691	130.2	163.2	4
342	691	63.1	163.0	12
343	690	63.6	162.6	0
344	689	73.6	162.3	24
345	689	135.2	160.6	20
346	688	85.9	160.4	26
347	688	101.2	159.9	0
348	687	63.7	159.8	2
349	686	97.2	159.4	9
350	684	119.4	159.2	13
351	683	140.2	158.7	1
352	682	164.7	156.0	17
353	681	148.3	155.9	46
354	681	84.0	155.8	12
355	680	111.1	155.3	14
356	678	81.8	154.4	54
357	677	122.9	154.2	8
358	673	98.4	153.7	22
359	673	115.1	152.8	34
360	669	87.4	152.3	27
361	667	135.0	152.0	33
362	667	120.4	150.6	21
363	662	87.9	149.8	5
364	661	100.4	149.7	19
365	660	107.4	147.4	17
366	659	103.4	144.9	20
367	659	141.8	143.6	30
368	658	120.9	143.3	33
369	655	70.6	143.0	18
370	654	119.0	142.7	13
371	654	63.5	141.3	30
372	652	120.9	140.7	13
373	651	140.1	140.7	7
374	648	138.3	139.6	34
375	647	133.7	137.6	33
376	647	101.3	137.4	8
377	647	134.1	133.7	20
378	645	118.2	130.7	10
379	644	103.6	130.3	19
380	642	67.9	129.1	22
381	638	113.1	125.5	1
382	637	144.8	124.2	30
383	636	93.8	123.1	21
384	635	165.5	122.6	12
385	630	154.3	122.2	18
386	625	123.0	119.4	21
387	625	81.2	118.3	0
388	621	88.1	117.9	9
389	615	86.6	117.8	31
390	613	25.7	111.0	0
391	611	107.3	110.8	7
392	607	86.8	110.6	4
393	606	76.3	109.4	6
394	601	135.0	109.1	6
395	599	81.8	106.7	15
396	597	48.0	104.9	11
397	594	123.1	103.3	25
398	574	92.6	103.2	28
399	549	103.0	101.1	21
400	541	72.5	84.7	31

 

Sale Price	Selling price in $ 000s
Land size	Land size in Square meters
Year Built	Year house was built

Introduction

Accounting standards are the policies and the procedure that is developed by the Australian accounting standard board that helps in developing the rules and regulation in the company. The rules are applicable to the private as well as the public sectors of the company that are working and incorporated in Australia. Every company that has been working in Australia and listed or not listed on the Australian stock exchange has to follow the accounting standards that are developed in the sector and those which are applicable to the company. The standards help in building a good image and reputation of the company in front of other competitor companies. The company that is following the rules and regulations that are developed by the board helps in understanding the policies of the company. The investors also have trust in that company which is properly complying the rules and regulations.

Descriptions of Accounting Concepts

Accounting concepts refer to the rules and the regulations that are used for the purpose of recording and explanation of the transaction in the financial statements of the company. These are the use and incorporated in the public and the private sector companies and all the other amount of independent entities that are working in the Australian sector market. Accounting concepts help the investors and the other stakeholders to develop an opinion towards the company towards the process of governance. Accounting concepts help professionals to develop an understanding of the different concepts that are used in the business. It amounts to develop a good amount of knowledge in the company and the market area (Holland, 2016). The standards that are used by the BHP Billiton Limited to increase the reputation in the developed Australian market are as follows

1. The company has maintained the standards that are for the presentation of the financial statements of the company in the proper format that is provided by the Australian board. The accounting standards developed for this purpose are the AASB 101 that helps to give the structure and content of the financial statements. 
2. The second concept that is used by the company is the AASB 102 that is for the purpose of the accounting of the inventories. It amounts to develop the cost of the inventories and also amount to determine the revenue of the company. It also helps in determining the net realizable value for the company. It defines the accounting treatment of inventories that are in the use of the company.
3. The company also follows the standards AASB 1031 in respect of the materiality of the transaction developed in the company. The materiality depends on the size and the nature of the business that is carried out by the company. It helps in developing and making judgments regarding the decision and the presentation of the financial statements (Joubert, et. Al., 2017).
4. The company also develops the standards AASB 1054 for the purpose of the additional disclosure in the company. The additional disclosure includes the report of the auditor and the other nature of the service that is undertaken by the company in development of the various activities.
5. The company also follows the principles of AASB 1039 to develop the annual reporting that is consolidated for the subsidiaries of the BHP Billiton Limited. The preparation and the presentation also amount to develop various amount of disclosures in the company.
6. The revenue recognition concepts are also used by the company to measure the fair value of the revenue or the amount of consideration that is received by the company. Revenue also helps in developing the risk and the rewards of the company that is to be based on the method of the delivery. 
7. The company also uses the concept of depreciation to calculate the amount of depreciation that is levied on the assets developed in the company. The amortization and the useful life of the asset also amount to calculate on this basis (Dakis, 2016).

Why changes have been incorporated in the new accounting standard for lease AASB 16?

The various changes have been incorporated in the accounting standard that is developed by the Australian board. The changes that are developed the new model of the lease in the different amount of companies on the balance sheet. It does not recognize the short-term lease and the lease on the low value of the assets developed by the company. The changes are developed and issued by the Australian board in February 2016 but it came in the action in the year 2019. This lease has developed a lot amount of changes in the Australian companies that are listed on the Australian stock exchange. The companies that are mostly affected by the changes in the lease concepts are the mining, aircraft and the other various industries of the company. The new standards have to be used by the company with the proper amount and knowledge and the guidance that is developed by the company. The standard helps in developing one or more accounting changes in the company and the companies also need to develop the various other implications before implementing this system in the organization. The company adapts this leasing system because it helps in increasing the lease liability of the company and helps to develop the various issues in the company in regards to the profitability (Chan & Ryan, 2013). 

Real estate sector may be in the possession of the various different amount of the lease and the change in the accounting standard also impact the development that is relating to the change. Some points are very much stronger than it helps in developing the company with the various issues that are going to develop the company soon but some points are not classified under the lease. The various amount of lease effect the significant entities of the company and also the recognition will not be easy and effective. The recognition and the development of the new lease system that is developed by the board affect the performance indicators of the company in a negative way. The cash flow and the earnings of the company are mostly affected by the lease that is developed newly in the organisation. The principal and the amount of interest developed by the company will also amount to be affected by the new standards developed in place of the lease. The new development in the accounting system helps in revising the lease and minimize the impacts of the assets and the liabilities of the company (Brumm & Liu, 2019).   

The new development in the standards gives the option to the company to measure the assets in respect of the liability developed in the company whereas in AASB 16 the asset should be measured in terms of the lease commencement of the company. The outstanding liability amounts to be considered by the company using the different rates of the borrowing that is developed by the company at the date of the transition. In the AASB 16 we have to develop the new project and other amounts of implementation for the company. The development of the new standards helps in early planning and preparation of the project for the company and the other amount of developments in the company. To avoid the consequences the contractual agreements need to be made in the development of the company and the other amount of methods in developing the company. These new standards also help in the tax relief developed by the company and maintaining the lease account separately by the company with the help of the developed standard (AASB, 2016). 

Both the option either it is the old one or the new one it helps in reducing the net assets of the company and also helps in developing the borrowing rate of the company. The new lase developed by the Australian board does not affect the net asset of the company but it helps in reducing the profit of the company. This also helps the company give to receive a large amount of tax relief from the other situations of the company. The standards help in providing the relevant information that is developed in the manner of the lease and for the lease transactions of the company. The total expense developed after using the new standard that is developed for the purpose of the lease as compared to the other amount or the amount that is developed with the using of the old standard. It also impacts the financial position of the company that is the net assets and the other amount of assets and liabilities that amount to develop in the company. It may result in significant savings and the development and growth in the company in regard to the various other liabilities (Lease, 2019).

Summarise the key disclosure the company has made on its accounting for leases including on the transitional provision and effect of the transition to AASB 16 from AASB 117.

Asset under the lease results in developing the risk and rewards of the company and also the amount to capitalize the assets of the BHP Company. The lease assets of the company are treated same as that of the other assets of the company. The depreciation levying on the assets also amounts to be same and developed the accounting treatment on that basis only. The disclosure made by the company on the basis of the lease are as follows

1. The financial lease of the company is included in the interest liability of the company that is showed in the balance sheet of the company under this heading and developed the calculation on that amount. 
2. The interest also amounts to show the constant rate of interest over the remaining period of the time when the company is amount to bear the lease amount on the interest of the company. 
3. The operating lease of the BHP Company are not capitalized and they are not treated as the capital expenditure of the company and also amount to include in the profit and loss statement of the company and also in the cash flow statement of the company (Potter, et. Al., 2013).
4. The rental payments that are included in the lease amount to be charged on the straight-line basis it means same in every year. The other lease also amounts to be disclosed by the company but in the separate headings.
5. Ongoing commitments are also disclosed by the BHP Company in the commitments that are developed by the company in the balance sheet of the company and also developed in the other amount by the company.

These are some of the disclosures that are made by the company in which the company undertakes the new amount of lease in the process of developing the lease in the financial statements of the company. Every lease of the company is different but the new standard that is developed on the lease will affect the most by the mining companies that are the BHP Company of Australia. The various amount of transitional relief is developed by the company on behalf of the lease that is particularly for the amount of lease that is developed in the company (Stevenson, 2012). Both the lessee and the lessor are available for the purpose of the exemption that is granted by the authorities only if they amount to develop the new standards that are developed by the board in Australia in relation to the accounting standards of the company. 

There is number of effects that are developed by the company using this system. The BHP Company has discovered that the company is suffering the loss in the various key performance indicators of the company. The company should also develop an effect on the tax amount. The tax amount gets decreased due to the change in the assets and the liabilities of the company that is developed for the purpose of this account of transaction of the company. The company should also receive the impact on the dividends that are developed by the company using the various amount of negativity developed in the company. To avoid the various consequences that are developed in the company using the new standards the company has given the transitional period to change this accounting from the other amount of accounting developed by the company (Xu, et. Al., 2017). 

The changes in the standards also have the positive and the negative impacts on the company and they amount to provide relief to the company. The changes help in ensuring that there is two amount of option that is available to the company that helps in reducing the tax for the company and develops the company in a positive way.

Conclusion

From the above analysis, it is clear that the BHP Company is following all amount of rules and regulations and that why it is ranked as number second among all the industries working in Australia. The accounting concepts also affect the decision of the investors of the company and there is also the difference between the actual and the estimated results of the company. The disclosure of the accounting standard of lease helps the company in giving the clarity of decisions by the company and also amount to develop the trust in the company. Disclosure helps the lease properties to develop themselves and also have the tax deduction of the impairment of the assets. Changes that are made in the provisions of lease help in reducing the burden of the company on the disclosure of the information and the other amount of things. 

References

AASB, C.A.S., 2016. Consolidated Financial Statements.

Annual report (2019). Welcome to BHP Billiton Limited. [Online]. Annual report. Available at: https://www.bhp.com/-/media/documents/investors/annual-reports/2018/bhpannualreport2018.pdf. [Accessed at: 30 September 2019]

Brumm, L. and Liu, J., 2019. New leasing accounting standard. Taxation in Australia, 53(8), p.449.

Chan, H.T. and Ryan, S., 2013. Challenging stereotypes: International accounting students in Australia. Journal of Modern Accounting and Auditing, 9(2), p.169.

Dakis, G.S., 2016. Upcoming changes to contributions and leasing standards. Governance Directions, 68(2), p.99.

Holland, D., 2016. Simplifying income recognition for not-for-profit entities. Governance Directions, 68(11), p.666.

Joubert, M., Garvie, L. and Parle, G., 2017. Implications of the New Accounting Standard for Leases AASB 16 (IFRS 16) with the Inclusion of Operating Leases in the Balance Sheet. The Journal of New Business Ideas & Trends, 15(2), pp.1-11.

Lease (2019). A guide to AASB 16. [Online]. Lease. Available at: https://www2.deloitte.com/content/dam/Deloitte/au/Documents/audit/deloitte-au-audit-aasb-16-guide-220916.pdf. [Accessed at: 30 September 2019]

Marşap, B. and Yanık, S., 2018. IFRS 16 Kapsamında Kiralama İşlemlerinin Finansal Raporlamaya Etkisinin İncelenmesi. Muhasebe ve Finansman Dergisi, (80).

Potter, B., Ravlic, T. and Wright, S., 2013. Developing accounting regulations that reflect public viewpoints: the Australian solution to differential reporting. Australian Accounting Review, 23(1), pp.18-28.

Stevenson, K.M., 2012. The changing IASB and AASB relationship. Australian Accounting Review, 22(3), pp.239-243.

Xu, W., Davidson, R.A. and Cheong, C.S., 2017. Converting financial statements: operating to capitalised leases. Pacific accounting review, 29(1), pp.34-54.

Abstract

The assignment is to make on the research and analysis of the financial performance of the selected company as we selected the Medibank private limited so we are going to analyse the medibank financial performance. This assignment requires making a comprehensive and detailed examination of the financial statement and its annual report, its share market, its market value, to come out the conclusion regarding the financial position and strength of the company. The financial statement gives overall data of the company of the same year. Analysis of financial performance can be done by making a comparison for two year or previous year’s data, these financial data helps to identify the real situation of the company. Financial strength can be measured by making the market analysis of customer satisfaction by its products and services offered by the company. This analysis report is required to make to provide advice to the wealthy investors regarding the financial position, its stability in the market, its transparency in the market. This analytical report gives assurance and a kind of satisfaction before making the investment in it. So that members trust can be enhanced by making believe on the productivity of the company.

I Introduction

Organisation that is selected for analysis in this report is Medibank Pvt. Limited. Medibank commenced on 1 July 1975 after passing the medibank legislation by joint sitting of parliament on 7 august 1974.the health insurance bill 1973 was the main bill that established MEDIBANK. Medibank private limited is a national private health insurer based company in Australia. It is second largest health insurance provider of Australia with the 3.8 million members & 29.1% market under two brands (medibank and ahm) .this company was set up to provide competition to private “ profit making company” health funds. Medibank was previously run as a not for profit organisation and later operated as a for profit government business enterprises with dividends paid to the federal government. It is a listed company on ASX. Medibank invests in community programs that support the health of all Australian this includes growing healthy kids which encourage healthy and active lifestyle in childhood. 

II Financial Analysis of selected company

Description of one key product or service provided by the company

PRODUCTS OF THE COMPANY: COMPANY is providing the following services:

• Private health insurance
• Travel insurance
• Life insurance
• Pet insurance
• Workplace health promotion
• Workplace health management
• Health call centre.

Out the above one key product or services offered by the company are:

Private health insurance: private health insurance is also main product or services which are offered by medibank private limited (Medibank.com, 2019).

Health insurance policy is very important for managing the health issues, health care needs and health related expenses (Mustafa, et. al., 2012). We can claim the tax benefits under section 80D of the IT Act.

There are multiple health policy are available in the market which makes us confused , out of these which is best for us..

WHY MEDIBANK HEALTH INSURANCE

Medibank private limited health insurance policy is better than others.

Medibank private limited provides health insurance for all (singles, couples, family, single parents it has the staff having knowledge and expertise according to needs of individual.

The company uses the following kinds of offers to attract and to optimise the satisfaction of its customers.

Offers:

• 100% back on optical: get 100% back on the optical item ( up to the annual limit) at any recognised provider (Friesl, 2012).
• 100% back on dental twice a year: get 100% back on up to two dental checks up every year, including x-rays, from any member choice dentist.
• 100% back on kids extras: the company offers for kids no hospital excess on every one of its family hospital covers. And it also offers 100% back on included extras at member’s choice providers, as part of growing family and settled family packaged cover; it only applies to child and student dependents (Medibank.com, 2019).
• Accident cover boost…etc.: life is not predictable, any injury happened because of the accident, requires the hospital treatment, this insurance cover such risk that means services which are normally excluded will be treated as included to cover the injuries caused by accident (Rao, et. al., 2013).

Identify and conduct a trend analysis with two groups of financial ratios, including liquidity and capital structure of the selected company.

Particulars	2016-17	2017-18	2018-19
Health Insurance Revenue	6797	6468.8	6655.8
Claim Expenses	-5553.1	-5206.8	-5341.9
Net Income	1243.9	1262	1313.9
Other Income	11.8	12.5	6.4
Operating Expense	-766.3	-771.7	-806.8
Income Tax	-179.2	-174.2	-178.6
Investment Income	139.3	95.6	102.8
Profit for Discontinued Operation	2.5	20.9	21
Net Income	452	445.1	458.7
Balance Sheet
Cash	597.6	470.1	656.5
Trade & other Receivables	317	292.2	283.9
Other Assets	2088.8	2328.7	2190.1
Current Assets	3003.4	3091	3130.5
Long Term Investments	87.3	53.6	49.3
Intangible Assets	321.1	350.1	405.9
Other Assets	53.7	50.2	45.1
Net Fixed Assets	462.1	453.9	500.3
Total Assets	3465.5	3544.9	3630.8
Current Liabilities	1564.7	1534	1517.5
Total Liabilities	1742.7	1715.7	1695.4
Total Stockholders’ Equity	1719.8	1829.2	1935.4
Share Information
Earnings Per Share – Basic	16.3	16.2	16.7

(Source: Annual Review, 2019)

(Source: Annual Review, 2019)

Trends:

• In the year 2016-17 the current ratio is between the 1to 2. But in the year 2018-19 & 2017-18. The ratios were greater than 2. It depicts that the company had sufficient funds to pay of the payables and the current liabilities (Delen, et. al., 2013)
• Liquidity ratio is less than 1.but it shows positive results hence the company can pay liquidates expenses or contingent. 
• Net Margin ratio is almost equal in all the year. It means that the company had not improved a lot but also not make losses from the past years (Danese, 2013).
• The net worth ratio will be slightly downward as compared to the other years

Perform a non-current asset analysis 

The assets schedule is given below:

(Source: Annual Review, 2019)

Perform a scenario analysis with data provided

 

Average Price	$20
Units to be sold	360000
Life	4 years
Equipment Cost	$2,500,000
Residual Value	$500,000
Working Capital	$800,000
Variable Cost	$18
(Source: Annual Review, 2019)
NPV	Worst Case
Years	0	1	2	3	4
Equipment Cost	2500000
Sales		7200000	7200000	7200000	7200000
Working Capi1tal		$800,000	800000	800000	800000
Variable Cost		6480000	6480000	6480000	6480000
Residual Value					$500,000
Cash Fixed Cost		550000	550000	550000	$550,000
Profit Before Tax		($630,000)	($630,000)	($630,000)	($630,000)
Tax		-189000	-189000	-189000	-189000
Profit after Tax		($441,000)	($441,000)	($441,000)	($441,000)
Discounted Values	1	0.892857143	0.79719	0.71178	0.63552
Discounted Cash Flow	2500000	($393,750)	($351,563)	($313,895)	($280,263)
(Source: Annual Review, 2019)
Outflow	2500000
Inflow	-1339471.06
Net Present Value	-3839471.06

 

Average Price	$30
Units to be sold	540000
Life	4 years
Equipment Cost	$2,500,000
Residual Value	$500,000
Working Capital	$800,000
Variable Cost	$12
(Source: Annual Review, 2019)
NPV	Best Case
Years	0	1	2	3	4
Equipment Cost	2500000
Sales		16200000	16200000	16200000	16200000
Working Capital		$800,000	800000	800000	800000
Variable Cost		6480000	6480000	6480000	6480000
Residual Value					$500,000
Cash Fixed Cost		350000	350000	350000	$350,000
Profit Before Tax		$8,570,000	$8,570,000	$8,570,000	$8,570,000
Tax		2571000	2571000	2571000	2571000
Profit after Tax		$5,999,000	$5,999,000	$5,999,000	$5,999,000
Discounted Values	1	0.892857143	0.79719	0.71178	0.63552
Discounted Cash Flow	2500000	$5,356,250	$4,782,366	$4,269,970	$3,812,473
Outflow	2500000
Inflow	18221058.73
Net Present Value	15721058.73

(Source: Annual Review, 2019)

Interpretation on the sensitivity

Selling price: 9055951 = .19

  450000*35*3.037

Variable Price = 9055951 = .44

  450000*15*3.037

Fixed Cost = 9055951 = 6.63

  450000*3.037 

Identify and discuss any latest share or bond issuance by the selected company\

ON 26 MARCH 2014 Minister for Finance Mathias command announced that medibank sold through initial public offer in 2014-15 financial years. The sale was completed with 100% of the company sold .listing was done on Australian stock exchange under the code MPL on 25 November 2014.at that time market capitalisation was A$ 5.921billion.

Ray Williams, who was the public servant created the medibank in 1976 and he said the benefits should go directly to the customers.  

The medibank IPO price was $2.15 and then government exceeded the range $1.55 to $2.00 and after it sale was gone up to 5.7 billion for the government.

Medicare is equity oriented entity, it possess 29 percent share of health insurance which enables it to negotiate in the market with other health insurance providers (Azim, 2012).

After this IPO, no further issue, right issue, private placement, bonus issue was brought by medibank private limited .as the medibank is an equity oriented company, authorised equity share capital of the company has not been changed (Siddiqui, 2015). it is the same as earlier however earring per share changed in every year because of retained earnings and reserves which was created by the company every year.

As the company is listed on asx ,shares are traded on asx.

The current market price of share of medibank private limited 3.36AUD ON 26 September.

The company is equity oriented so no bond was issued by the company. And no preference shares were issued by the medibank private limited (Akpan & Amran, 2014).

Calculate and discuss the PE ratios and share price movement of the selected company through 3 years

P/E Ratio will be used for the relative valuation. It is used to compare the share price to stocks earning per share. It is used to compare the investment basis that what are the returns on the basis share price (Medibank.com, 2019).

Formula

Price-Earnings Ratio = Price per share ÷ Earnings per share

Price of the share : $ 3.08

Earnings per share : $0.168

Price Earnings Ratio = $3.08 / .168

    = 18.3

Hence it will show that the company will pay 18times that the share of investment.

III Recommendation letter

After the analysis of the financial position of the Medibank. The following recommendation can be made for the betterment of the company. The company is doing well with the business. Hence the ratio are calculated to know the company analysis and to know profitability of the company, the profitability is maintained in all the 3years of the business, hence the shares of the public in the company are secure, and they will be getting good result as per the expectation. The company should perform extra activities or make the popularise to increase the income and to grow the profitability of the company. The company should invest in the long term investment to increase the income of the bank. The PE ratio of the company is also showing that the company is also giving good returns of return. For maintaining the PE ratio the company should fluctuate rate of interest as per the market trends, so the interest on saving as well as on the loan should be balanced. The company assets which are in the progress should get complete as the 3 years or above had passed in the working stage. As per the analyst the investors should invest in the company to get better results.

IV Conclusion

Medibank is providing different kinds of insurance like health insurance, life insurance, and pet insurance etc. to cover the risk of its members. Multiple analysis was done to come out on the conclusion like non-current assets analysis, cash flow statement analysis, liquidity ratio, capital structures that means all over financial statement. By the analysis of income statement and comprehensive examination of financial performance based on financial statement of medibank private limited for financial year 2018-19. Profit was enhanced by 3.1% in the comparison of 2017-18 financial years. Earring per share was also enhanced by 3.1% as in 2018 it was 16.2and in 2019 it is 16.7.and if we talk about dividend per share it was also enhanced by3.1%. In 2018it was12.70 and in2019 it is 13.10. 

The health insurance premium revenue was also enhanced by 2.3%in the comparison of the last year so on the basis of comparative study of two years in the simple words we can say that profitability of the company is increased. And it gives satisfaction to the investors to invest in product and services of medibank private limited that the company is growing company and it will fulfil the needs of the company. Andes for the fulfilment of companies gives different kind of health insurance offers like 100% back on optical,100 percent back on dental twice in a year.100 % back to kid’s extras. these offers are provided by the company to enhance the customer satisfaction and needs of the customer, Medibank not only providing offers but also providing different mode to claim the insurance, so that its member can claim the insurance amount very conveniently and their trust will be enhanced day by day on the company, In fact they also encourage to people to invest in company.

References

• Akpan, E.O. and Amran, N.A., 2014. Board characteristics and company performance: Evidence from Nigeria. Journal of Finance and Accounting, 2(3), pp.81-89.
• Annual Review, 2019. Medibank [Online]. Annual Review. Available at https://www.medibank.com.au/about/investor-centre/results-reports/annual-reports/[Accessed on 27.09.2019].
• Azim, M.I., 2012. Corporate governance mechanisms and their impact on company performance: A structural equation model analysis. Australian journal of management, 37(3), pp.481-505.
• Danese, P., 2013. Supplier integration and company performance: A configurational view. Omega, 41(6), pp.1029-1041.
• Delen, D., Kuzey, C. and Uyar, A., 2013. Measuring firm performance using financial ratios: A decision tree approach. Expert Systems with Applications, 40(10), pp.3970-3983.
• Friesl, M., 2012. Knowledge acquisition strategies and company performance in young high technology companies. British Journal of Management, 23(3), pp.325-343.
• Medibank.com, 2019.About  Medibank Australia [Online]. Medibank.com. Available at  https://www.medibank.com.au/about/ [Accessed on 27.09.2019].
• Mustafa, S.A., Othman, A.R. and Perumal, S., 2012. Corporate social responsibility and company performance in the Malaysian context. Procedia-Social and Behavioral Sciences, 65, pp.897-905.
• Park, T.Y. and Shaw, J.D., 2013. Turnover rates and organizational performance: A meta-analysis. Journal of applied psychology, 98(2), p.268.
• Rao, J., Yu, Y. and Cao, Y., 2013. The effect that R&D has on company performance: comparative analysis based on listed companies of technique intensive industry in China and Japan. International Journal of Education and Research, 1(4), pp.1-8.
• Siddiqui, S.S., 2015. The association between corporate governance and firm performance–a meta-analysis. International Journal of Accounting and Information Management, 23(3), pp.218-237.

Abstract

Corporate or financial accounting means the type of accounting the company has to follow. It will be different for every country as per the corporate laws of the country. The company have to follow all the rules and regulation while drafting annual reports of the company. The guidelines of the format had been described under the laws and the time of that preparation is also mentioned. If the company fails to prepare the report then they were liable to be punished or with the fine.

Introduction

The below assignment is completed with the A2m milk and the Bellamy limited. Both the company are the FMCG Company. The annual reports taken for the consideration is of 2017, 20 18 and 2019. The equity and the liability part of the annual report had been studied to find out the source of funding nomad the reason behind the change of the figures from one year to another. Financial ratios are analysed for both of the organisations in this report. This report provides good idea of the annual report terms of both the organisations.

Part A

 

• Items recorded under the owners’ equity section 

 

Bellamy limited Items recorded under the owner’s equity section is 

Issued capital: the capital issued to the public either through IPO or through the after issue, or buyback will be included in this

Reserves: the change in any part of the company other than the operation are included in the reserves, it includes the foreign exchange reserves, revaluation reserves and other.

Retained profits: retained profits will include the part of the profits company had retained for the plans. 

Non controlling interest: it is the part of the equity which is not held by the Bellamy limited and does not have the right to use it (Bellamy limited, 2019). 

A2M milk items under the equity section:

Share capital: the share capital is the number of the shares issued by the company to the pub lice, employees or another member, either by IPO, or buyback will be included.

Retained earnings: this will include the saving of the profits for future management. As per the law, the company has to retained fix % of the profits as restrained earnings

Reserves: reserves will be the fluctuation inactivates under than operating, like hedging instrument (A2M,2019).

 

•  Movement in each item recorded under the owner equity section with the reason 

 

Bellamy Limited Schedule of Equity Share

The company is having a change in the share capital pattern from 2017 to 2019. The company had issued a share in 2016 to the existing shareholders.  As per the annual report of 2019, it was revealed that the company had issued 9,738,250 shares to the investors in 2017 for$ 46,257000. 3,190,042 shares were issued to the subsidiaries company and 708,467shares were under ESOP. At the end of 2019, the company had the 113,368,297 no of shares worth $120, 870000. The shares in 2018 were 113,316,104 worth 120,870 (Bellamy limited, 2019).

On the part of the balance sheet, the issued capital will be the same for all years. Reserves were fluctuated due to the change in foreign exchange and due to the profit and loss for the hedging instruments. The company had not paid any dividend in the current year. 

A2M milk

As per the review of the company balance sheet company not had issued any share capital in the current year to the public. But had given the option of the ESOP to the employees. 

Out of option raised the 3000998 shares were exercised of the value of $1890000 which were 4,231,000 were exercised in 2018 the value of the exercise was 2666000. The company also issue partly paid share worth $1080 in 2019. The cost of the issue was $41 in 2019 while $52 in 2018.

The company had paid a dividend in the current year as well as the last year 

Reserves will include the employee equity-settled payment reserves, fair value reservation reserve and foreign currency translation reserve.

 

 

• Items have been recorded under the liabilities section 

 

Bellamy limited

Liability section is divided under two heads current liability or noncurrent liability

Current liability will include the change in the liabilities due to the operation of the business, it includes trade and payables, changes in the inventory, income tax liability and other 

While in current liability will include employee benefits of the company

A2M Milk

As the same, it is also divided infer the two heads 

Current liabilities had included the change in trade payables of the operations and other contract liabilities of the customer 

While no current liabilities will include the p [arable other than the operations which are the employee’s entitlements 

 

 

• The movement in each item recorded under liabilities section with reason 

 

Bellamy limited

The reason for the change is as follows:

Trade and payables: it will include the trade payables, as the suppliers whom the company have to pay for the stock they had purchased

Borrowings: borrowings will include the benefits of the credit card facilities of the company; it will include the secured loan of the company, from the bank. The total secured loan of the company is from either bank the bank facility or the guarantees given. As per the accounting standards, the borrowings are shown at the fair value of the consideration (Bellamy limited, 2019). 

Derivative financial instruments: it will include the transition of the hedging, and they are recorded as the fair value on each subsequent re [porting date. The company recorded the net profit and loss in the instrument under the reserves of the company

Income tax: the income tax will be the liability of the tax of the cure net year which will be paid in the next financial year

Employee benefits: this will be the benefits given to the employs, but the employees not entertain the benefits yet

Provision: the provision will include the minimum annual provision. The reason for the change in minimum value.

Employee benefits: employee benefits will include the contingent liabilities of the employees for which the company had made provision. 

A2M milk

The A2m milk had included the following liability

Trade payables: it will include the party to whom the company have to pay for the supplies. 

Accruals: it had the liabilities company have to pay in the current year but nit paid in the current year, and dwell bow due in the current year.

Employee benefits: it will include the benefits given to the employees and not yet received. It will be recognised on the fair value and change of is the reason is in the fear value and number of the option.

Explain the relative advantages or disadvantages of each source of the fund each of your selected companies is using 

Both the company had the capital raised from either from the issue of the capital or through the bank or financial institutions

The advantage is as   follows:

Share Capital: the coma pony does not pay any fixed rate of the interest in the share capital, hence it will be beneficial to the company, but the company have to pay a dividend at the end of the year which involves the part of the profits. 

Employee stock option: this option is given to the employees to make them retain in the company, in this option the employees can exercise the issue on the issue price on the date of /option given. They can also vest their right if they want

Bank: it is the most secure type of funding. The bank will take a fixed rate of interest but they have fixed maturity periods.

Part b

Concept of small proprietary companies, large proprietary companies and reporting entity.

Proprietary companies are those that are registered under section118, 60180,1362B. if any nature of the companies isis registered under these above mentioned is known as proprietary companies. The proprietary companies are limited by shares, not more than 50 shareholders, and no disclosure is done by a proprietary company in front of the public. These are some condition to become a proprietary company (Hiller, 2013).

Small proprietary companies

Small proprietary companies are the companies that follow all the above-mentioned condition and some additional condition that is 

The small proprietary companies are considered small if they earn gross revenue not more or less $10 million in a financial year. 

The small proprietary companies are to be under small proprietary if the companies assets turnover is less than $5 million in a financial year.

The small proprietary should consist of not more than 50 non-employees shareholders at the end of the year or financial year.

Hence, if any company is fulfilling a minimum 2 of the following condition they are considered as the small proprietary company as per section 113 (May 2013).

Large proprietary companies 

Large proprietary companies are the companies that are fulfilling above mentioned objective that is mentioned in proprietorship clauses  and some additional condition also applied to accept the companies as a large proprietary company the condition are 

The large proprietary companies are to considered to be large if they earn gross revenue of $10million or more than $10million in the financial year.

The large proprietary companies are considered to be large proprietary under section 113 if their assets turnover is $ 5 million or more than that in the financial year (May 2013).

The large proprietary company should consist of 50 employees or more than that margin in the financial year.

Hence if all the condition is fulfilled by any proprietary companies the company is considered under a large proprietary company and above clauses should be followed by the company every financial year.

Reporting entity companies

Reporting entity companies are the companies that are dependent on the general purpose financial report to develop the understanding of the financial position and performance of the company or the firm or the business entity, the reporting entity also use the understanding to make necessary decision making for the financial aspect of the company. The general users f this portal is the shareholders, members, employees, and potential investors . under this condition all the Australian standard  are to be implemented and proposed while understanding the financial report and all the condition that are mentioned in the Australian standards report and conclude the report after covering all the relevant clauses that are related to the particular financial report that is share price , taxation report and another public outcomes that is to followed by the company while building any decision making and framing policies (Kang and Gray, 2013).

The implication of the terms, compliance and reporting requirement in all the above mentioned three types of companies 

Small proprietary company

Institutional framework

As per the institutional framework, the small proprietary companies should register themselves under the head proprietorship clauses. The small entity company should not have the rights to disclose any report or share under public report broadcasting and they have to follow all the riles that the framework amends to follows, if any violation occurs in future the laws suggest he punishment as well.The rule violation will cause the closedown of the company, some fine amount should be discharge and the required certificate that is commencement certificate should be incorporated under the proprietorship act. These are all some framework that is suggested by the government of the country (Miglani, et.al., 2015.

Accounting standard  

Small entity companies should follow the AASB-series standards that are to allotted by the Australian standard of the country for performing any financial transaction and preparing a financial report. The AASB-series includes the health discussion if in any case required, the small entity companies should also consult the public for processing. The head that comes under AASB- series are Australian securities and commission act 1989 of corporation law (Miglani, et.al., 2015).

Auditing standard

The auditing standard that is followed under the corporation laws is the auditing and assurance standards board. This standard helps the proprietor to develop some professional code and conduct for professionalism framework and maintaining standards in the company and provide assistance to carry financial report ethically and professionally. Hence the auditing body also prescribed the violation condition, so that the person think before doing any evil act.

Large proprietary companies 

Accounting standards and auditing standard

The large entity should maintain the gross revenue as mentioned under the proprietary clauses or section. The accounting standard suggests some norms as mentioned under the corporation laws the laws 3expalined that the proprietary business does not consider as the public company. So that they have no right to disclose their investors and shares of the company they take help of the public consultation process for better functioning and report preparation. The Australian accounting standard provides certain guidelines that are to be followed by the large entity companies, otherwise, they will suffer complication in the working and the development of accounting standards raise the standard of the financial senses too and helps the company professional to implement those standards to sustain the quality and working in the organization. 

The auditing and assurance standard helps the large proprietary companies to develop ethical processing in the company to carry out financial norms with high standards in auditing policies. The auditing policies also levied rules and restriction for effective functioning (Rahman, 2013). 

Reporting entity companies 

Accounting standard and auditing standard

Reporting entity company should also follows the relevant standard to maintain the ethical environment in the organization and to prevent company from heavy losses the reporting entity company prefer the GPFR portal or a assistance that helps them to develop understanding of the financial nature and behaviour that needs to maintained the effective financial position and to take relevant and accurate decision making after studying the GPFR reports and prepare the company report as per the study done in the GPFR portal and make changes and implementation accordingly (Gay and Simnett,, 2012).

Conclusion

The study of all the above mentioned  clauses reveals that every company whether it is A2M milk companies and Bellamy limited of Australia  should follow all the rules and regulation that is amended by the Australian standards under the accounting heads for carry out their financial position and reporting effectively because if they do not implement all the clauses  they do not know the nature of their business. For maintaining quality standards and to distribute equal shares to discharge financial responsibility and to implement high standard and ethical working the company needs to follow the guidelines that are amended by the Australian government to carry out financial planning and functioning effectively. Hence for gathering effective and professional financial essence whether it is in the small, large or reporting entity, the company needs to follow the standards for basic formalities, financial years terms and condition, and to maintain consistency in the business.  

References

A2M, 2019, Annual report of A2M milk[online] A2M available at: https://thea2milkcompany.com/wp-content/uploads/The-a2-Milk-Company_FY19-Annual-Report_double-pages-1.pdf[access on 29 September 2019] 

Bellamy limited, 2019, About investors and share of the company[online] Bellamy, limited available at: https://www.intelligentinvestor.com.au/shares/asx-bal/bellamys-australia-limited[access on 29 September 2019]

Bellamy limited, 2019, Annual report [online] Bellamy limited, available at http://www.annualreports.com/Company/Bellamys-AustraliaLtd[access on 29 September 2019]

Gay, G. and Simnett, R., 2012. Auditing and assurance services in Australia. McGraw-Hill Education Australia.

Hiller, J.S., 2013. The benefit corporation and corporate social responsibility. Journal of Business Ethics, 118(2), pp.287-301.

Kang, H. and Gray, S.J., 2013. Segment reporting practices in Australia: Has IFRS 8 made a difference?. Australian Accounting Review, 23(3), pp.232-243.

May, G.O., 2013. Financial accounting. Read Books Ltd.

Miglani, S., Ahmed, K. and Henry, D., 2015. Voluntary corporate governance structure and financial distress: Evidence from Australia. Journal of Contemporary Accounting & Economics, 11(1), pp.18-30.

Rahman, A.R., 2013. The Australian Accounting Standards Review Board (RLE Accounting): The Establishment of its Participative Review Process. Routledge.