To the right of my blog, I have links to my top 3 blogs. As I'm new to blogging and still working it out, I figured I'd save some time and put my explanations in here.
My top 3 blogs, in no order are;
Iris' blog - this is visually very exciting and the information provided is vast. Iris provides detailed information about herself and I enjoy her motivational pictures as it makes me feel she is happy and dedicated to her study.
The company, being gaming, is also very interesting as this is a company that when I consider initially, I think brings a lot of 'destruction' to many people's lives. I'm keen to follow the story and see how this evolves.
http://irisonvleeacct11059.blogspot.com.au/
Anna's blog - I love the personalised tack that Anna does. Her skydiving pictures and this happy go lucky feel makes me interested to see what happens. I've flown Ryan Air myself whilst in Europe and I am aware they are 'budget', I'm pretty sure I had a one euro flight to Ireland once (without taxes - from London). I'm keen to see how the airline is going particularly in this climate where airlines are having various issues.
I also love that Anna has links to everything. Her comments, news articles. This is giving me ideas and inspiration and I'm happy to read.
http://annatowanacct11059.blogspot.com.au/
Okay, so there are soooo many blogs to view but this one caught my eye! In addition, I like the honest questions and the fact that Eve has done her questions as I'm enjoying the conversations and the ideas this is creating.
http://evedelange.blogspot.com.au/
Monday, 10 March 2014
Downer faces challenging year - article
Company CEO - Grant Fenn states, "It is expected that the 2014 financial year will be characterised by a reduction in new major capital works in the resources sector (and) a greater emphasis by mining customers on optimising their volumes and cost of production," he said. "As a result, there is a higher level of uncertainty in revenue for the 2014 financial year than in the prior year."
Read the full article.
This information is also in the 2013 annual report.
http://news.smh.com.au/breaking-news-business/downer-edi-expects-a-challenging-year-20130806-2ray7.html
Read the full article.
This information is also in the 2013 annual report.
http://news.smh.com.au/breaking-news-business/downer-edi-expects-a-challenging-year-20130806-2ray7.html
Inquest into teenagers death
An inquest is currently underway regarding a teenage staff member of Downer committing suicide after months of torments from fellow staff. Reading this article is a sad reminder that employers are responsible for workplace culture and the health and safety of staff, including their wellbeing. Notably the worker states at the end of the article (taken from his court appearance) ''It's just the way it was I guess - it's an old industry that hasn't sort of changed,''
http://www.smh.com.au/nsw/alec-meikle-suicide-inquest-continues-into-alleged-bullying-of-downer-edi-employee-20131209-2z1ud.html
Accusations of Downer 'misleading' investors - news article
http://www.themercury.com.au/business/downer-edi-settles-legal-claims/story-fnj6eg8g-1226839816133
Sunday, 9 March 2014
Chapter 1. Questions answered.
Question 1.
What is double entry accounting? Why do we put everything in twice?
Double entry accounting is based the duality principal. For every transaction, there are two actions within the business. For example, if a business purchases a coffee machine, it is both an increase of assets (debit) and a decrease in expense (credit).
There are two sides to every coin. A business is both an entity with its own purpose as is its owner/s. Double entry accounting is used to ensure every transaction is recorded in its appropriate place.
Question 2.
Three Assets:
Mining Equipment (this can be hired out or used with staff to make earnings).
Maintenance Plants which facilitate income as repairs are carried out within.
Subsidiary companies which operate other facets of business (rail, infrastructure etc.) which then create a whole of business cycle for the Downer Group.
Three Liabilities:
Salaries to workers. Downer Group employs over 10,000 people.
Workcover Claims and or law suits (the company deals with various safe workplace issues due to the nature of business).
Bank loans to cover costs and new ventures. It's annual report states the company has various debts.
Three Items of Equity:
The total of all assets less any debt still owing on them. Downer owns equipment for various facets of business, were this to be sold, it would produce equity for the owners.
Revenue generated from business (less debts)
Downer Group Company itself is equity. If the business were sold and was valued at 1million but owed 0.5million, the equity would be 0.5million.
Please feel free to comment as necessary.
What is double entry accounting? Why do we put everything in twice?
Double entry accounting is based the duality principal. For every transaction, there are two actions within the business. For example, if a business purchases a coffee machine, it is both an increase of assets (debit) and a decrease in expense (credit).
There are two sides to every coin. A business is both an entity with its own purpose as is its owner/s. Double entry accounting is used to ensure every transaction is recorded in its appropriate place.
Question 2.
Three Assets:
Mining Equipment (this can be hired out or used with staff to make earnings).
Maintenance Plants which facilitate income as repairs are carried out within.
Subsidiary companies which operate other facets of business (rail, infrastructure etc.) which then create a whole of business cycle for the Downer Group.
Three Liabilities:
Salaries to workers. Downer Group employs over 10,000 people.
Workcover Claims and or law suits (the company deals with various safe workplace issues due to the nature of business).
Bank loans to cover costs and new ventures. It's annual report states the company has various debts.
Three Items of Equity:
The total of all assets less any debt still owing on them. Downer owns equipment for various facets of business, were this to be sold, it would produce equity for the owners.
Revenue generated from business (less debts)
Downer Group Company itself is equity. If the business were sold and was valued at 1million but owed 0.5million, the equity would be 0.5million.
Please feel free to comment as necessary.
Wednesday, 5 March 2014
Rail Brochure
DOWNER RAIL IS A WHOLLY OWNED SUBSIDIARY OF DOWNER. DOWNER PROVIDES COMPREHENSIVE ENGINEERING AND INFRASTRUCTURE MANAGEMENT SERVICES TO CUSTOMERS IN THE MINERALS AND METALS, OIL AND GAS, TRANSPORT, POWER, TELECOMMUNICATIONS, WATER AND PROPERTY SECTORS. DOWNER RAIL HAS MORE THAN 100 YEARS’ EXPERIENCE IN THE AUSTRALIAN RAIL INDUSTRY AND IS THE LARGEST SUPPLIER OF LOCOMOTIVES AND PASSENGER CARS IN AUSTRALIA. OUR EXPERIENCE IN DESIGN, MANUFACTURE AND MAINTENANCE MEANS THAT WE CAN OFFER WHOLE-OF-LIFE ASSET MANAGEMENT SOLUTIONS THROUGH TO ONE OFF REPAIRS.
Tuesday, 4 March 2014
Annual Report 2013
http://www.downergroup.com/Documents/Investors/Financial-Results--Reports/201213/Annual-Report/Downer-Annual-Report-2013.pdf
Follow the link to learn about Downer in its 2013 Annual Report.
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