- It seems that my firms revenue relies somewhat on the weather - 2011's annual report stated that one of the reasons for its 3% decrease was due to an extremely mile summer- It also is mentioned in the 2012 report. Does anyone have a similar factor impacting there firms revenue? Does anyone else's firm impacted by the weather?
- I find Gale Pacific's Annual reports very daunting - they are very lengthy and have a lot of jargon that is quite scary to understand at first... I feel like I don't make much progress when dealing with such a big document filled with numbers I don't quite understand. Is anyway else feeling this way?
- Gale Pacific is doing quite well it seems, they have are constantly (in each Annual Report) making considerable gains and have just acquired 2 more business. There increasing investment in overseas market have been a valuable asset contributing largely to their growth over the year.
- Gale Pacific's just consists of Statements of Significant Accounting Policies- does anyone else have this? Why is it important that they put this in? It just seems like a massive waste of 30+ pages...
Please comments with any thoughts :)
Hi Ashley,
ReplyDeleteMy company - Aviation is impacted by the weather, if it's too stormy especially at winter they don't fly. Its part of their risk factors and key challenges. Pretty good you have 30 pages, mines 207...I have only read the important parts.
Cheers,
Anna
http://annatowanacct11059.blogspot.com.au/2014/03/ryanairs-risk-factors.html
Hi Ashley,
ReplyDeleteMy company doesn't have the same problem with performance and weather but the similarities that my company ALS shares with your company is that it has acquired other businesses, continues to grow and is profitable.
Regarding why the accounting policies are important it is because they explain the information in the company's financial statements. E.G. How they depreciate their assets, do they use the straight line depreciation method?
I love your pic by the way!!!!!!!!!! So true!
Looks like my previous comment regarding weather not influencing my company is incorrect Ashley. Apparently the ALS company branches in the northern hemisphere ARE impacted by winter months.
ReplyDeleteHi Ashley the revune of My company Graincorp is also at the mercy of mother nature, adverse weather conditions such as drought can have a negative effect on predicted earnings
ReplyDeleteThanks guys for your comments, It has given me a few things to go back at re-asses when reading over my annual report again! :)
ReplyDeleteHi Ashlee,
ReplyDeleteI have never heard of my company Ausenco but i am happy to have been given them to study. Their financial reports are quite easy to read being only 82 pages long (most of this is colourful pictures).
Ausenco is also expanding overseas and has just acquired 2 companies to expand their business.
No accounting policies were included in the financial statement of Ausenco, it was interesting to note that your company though it was necessary to add this in their statements. I think it is a waste, investors aren't going to want to read all about that.
My blog http://ausenco.blogpsot.com/
Hi Ashley!
ReplyDeleteI had a great laugh at the meme at the top of this blog post! It certainly made my day!!
1. My company is an engineering and building organisation, I think they would also be affected by the weather,simply because if there was a large amount of rain, or unsafe working conditions, it would make it hard for the workers to do the work, which in turn leads to a backlog on work, which was one of the key problems my organisation has been facing, and as most people know, a backlog on projects results in extended time frames, and also more importantly extended costs. Therefore, the weather is a valid reason for losses in profit, your organisation isn't the only one.
2. Dont worry, I find financial statements very daunting too, there is allot of information that doesnt make sense, but I promise, once you get used to the jargon, and what everything means and effects, it becomes allot easier to understand, it has taken me two accounting lectures at tafe, two years of school work, and one uni subject other than this one to figure out how to effectively read financial statements.
3. Accounting pages are important to include in financial documents, because these are statements that go out to investors and potential stakeholders, who may have little to no experience in accounting. I certainly know that without the accounting policies included in my organisations financial statements it would make it allot harder to interpret. Imagine having to read this statement with no knowledge whatsoever of accounting, it becomes even more daunting than before. It also means that the investors/stakeholders can quantify the monetary expenditure that their organisation is making, and if they can interpret that data themselves, it may make them feel more important, and ensure their investments are valid and producing results in more than just revenue.