Blogs, Blogs, Blogs!

Though there are many great blogs out there, especially for our ACCT11059 class this semester, the top three in my opinion all have their own unique attributes that make them more interesting, and in a sense more fun to read, and understand, and in no particular order here they are:

1. http://brilouisekempacct11059.blogspot.com.au/

I really enjoy this blog because it has a wealth of information, that isn't stagnant, and boring, the author tries to make it as interesting as possible, the layout is easy to navigate and it contains more than just a welcome message. Here are my top 3.

2. http://dheepaapps.blogspot.com.au/

I chose this blog, because Woolworths Limited has a special place in my heart, after working there for almost four years, it makes sense to me to be interested in its financials, as half of my family have shares in the organisation. I enjoy this blog because it is very much to the point, and doesn't beat around the bush.

and

3. http://irisonvleeacct11059.blogspot.com.au/

I enjoy this blog because there is allot of information regarding the authors organisation, there is interesting news and allot of other information that I think will come in handy understanding my organisation later in the future.

Accounting and Sewing

Hello Everyone!

I just want to say thank you for taking the time to come and have a look at my blog.
As a distance education student studying in Brisbane, currently a fourth year Bachelor of Business undergraduate, with a major in Human Resources, I'm always looking for ways to be social and meet people, because sitting at home all day in my office can lead to me staring out the window dreaming about making friends, then just resorting to finding my cat, and cuddling her all day (I know she probably hates it, but I don't think she knows she is adopted yet!!) 

This is my cat, enjoying the afternoon breeze.

But cuddling my cat all day isn't the only thing that I do. I do infact have allot of free time, and I really really enjoy sewing.I only recently started learning, but its something that has a deep place in my heart.In my spare time cutting out patterns the other day, it occured to me that accounting for decision making is allot like sewing. Especially the first part of our assignment, allow me to explain;

Initially it seems like a daunting task. Its a hard thing to do, you have a pattern to work from, which essentially could be a spread sheet, with patterns, you have to do measurements, and cut it down to the size you want, ever so carefully, because one mistake could mess the whole thing up, much like working in a spreadsheet, if once cell block is wrong it could affect the whole calculation! or in MYOB and double entry bookkeeping, if you don't input the right data in the right places, then there is going to be an error, which is much like cutting out the wrong pattern, for a sleeve, and sewing it on the wrong side, you can't have a left sleeve on the right arm! 

Did you ever think that financial management and statements are interrelated to sewing? Because I can tell you it is! I can’t remember the number of times I have fallen in love with a beautiful piece of fabric or trim, then having to check my bank to see how much cash on hand I have, and if I don’t have enough, look like I'm going to have to work or get some projects to help increase my revenue so that I can purchase the inventory I need to create the product I want.

Fundamentally, the most important part of the dress is the seams and over locking. If you don’t over lock the material, it’s going to start fraying, and falling apart, much like in accounting, where if you don’t enter and manage the transactions of your organisation then it is going to begin to fail, and if you don’t sew your dress/shirt together (seam) then you aren't going to have anything but pieces on the floor or table, which is also relatable to accounting, because hey, if nothing works together, and all the debts equal the credits, then what chance do you having a successful book keeping system.

The first dress I ever made, inspired by the 1950's!

Basically, I propose that accounting is pretty much relatable to allot of things in life, and once you can figure out what accounting is to you, it makes it easier to understand, and allot of the time, it makes it allot more fun to do. At least I like to think it does!!!

Thank you again for visiting my blog!
Please remember to leave some comments down below, and give feedback to others on the moodle page!!

Evelyn

Challenges and Difficulties

“Difficulties strengthen the mind, as labor does the body.” 
― Seneca

Difficulty is something that Saunders International is not new to, but which company doesn’t have difficulties? Most recently has come about in a large scale lawsuit in which Saunders had to pay vast sums of money towards a legal team to help combat the lawsuit which involves Saunders being subcontracted by Built Environs to build three leaching tanks made of steel for BHP Billiton's Olympic Dam project in 2008.However, Built Environs is suing Saunders, saying it was forced to replace the tanks.

According to Saunders Internationals previous financial statements, legal costs have run into extreme amounts, such as $3.6 million this last financial year and $1.45 million the prior year 

Links to the news article are here:

http://www.adelaidenow.com.au/business/sa-business-journal/bankrupts-asked-for-100000/story-e6fredel-1226218878874

http://www.adelaidenow.com.au/business/two-year-battle-almost-over-for-built-environs-and-saunders/story-e6frede3-1226216558085

My Company- Saunders International

As part of the ACCT11059 Accounting class for term one of 2014, I have been issued with the organisation called “Saunders International”, this blog will provide just a little background information regarding Saunders International, and the work they do, along with other key news and industry relevant information.

Firstly Saunders international is a leading Australian specialist in the design, construction and maintenance of bulk storage facilities for the water, petrochemical and infrastructure industries, which are engineered to the highest quality and safety standards present in Australia.  Saunders International  mission statement delivers the true undertaking the organisation wishes to achieve which is that of providing “…customers with economical and innovative solutions to all their Bulk Liquid Storage requirements. These solutions will be expertly engineered and built the highest Safety and Quality standards”

(http://www.saunders-international.com.au/about-us-vision-statement.htm)

If that doesn’t impress you, their values include people, a core asset on their long term success and future growth, safety and quality, the foundation of their future success, leadership through clearly communicated goals, values and aspirations and develop a culture of innovation and excellence, profitability, targets will consider stakeholders, customers, employees etc, and the ever important: Environment, which their aim is not to damage the environment.

With such an impressive list of mission and values, it’s easy to understand some of Saunders Internationals clientele, which include BP, Rio Tinto, Caltex, Mobil, Fuel Systems, Simpson Construction, Transfield Services, and other major clients.

Some of Saunders Internationals recent projects include:

• A Double Wall Storage Tank in Moranbah, QLD
  
  
  
• Jacking of a Cone Roof Tank Noumea, New Caledonia

• Steel and Elevated Reservoirs and Pumping Station, Eastern Creek, Sydney, NSW

Each project had to be specifically designed to comply with the storage requirements of the elements they were to hold, such as Ammonia, in the storage tank in Moranbah, which needs to remain at a constant temperature of -33 degrees!

Not only do Saunders international provide engineering services for the projects they undertake, Saunders International also offer a range of risk based maintenance prioritizing, such as risk analysis and scenario analysis, and QA compliant inspection services, with API653 Accredited Inspectors, In house engineering analysis, work shop fabrication and mechanical repairs.

So there you have it! All the basics of what you need to know about Saunder International!!!

My next blog will analyse the 2011,2012 and 2013 financial reports!

Welcome to my new blog!

I look forward to blogging about all kinds of useful things to help ACCT 11059 students and to create a better networking environment for all of us!

My name is Evelyn De Lange, I am a distance student in Brisbane, who is studying FIVE subjects in term one 2014. So its safe to say I am a little busy. As an Australian immigrant, I look forward to working in a diverse environment and creating substantial long lasting friendships.