Assignment 1 · Web viewACCT11059: Accounting, Learning and Online Communication . ACCT11059: Accounting, Learning and Online Communication . 1

ACCT11059: Accounting, Learning and Online Communication

Assignment 1

CQU Brisbane

Brittany Kalina

ACCT11059


Step 2

Wordpress Blog link: brittanycqu.wordpress.com

Moodle Link: https://moodle.cqu.edu.au/user/profile.php?id=74152

Step 3

Blog link: brittanycqu.wordpress.com

A look inside my company

My initial thoughts when I opened the 'find my company' spreadsheet was please let me have an Australian company as I did not want to convert all the data into to Australian currency. At first, I was disappointed that I didn't receive an Australian company, but I was washed with relief when I realised my company was a property company as I'm doing a Bachelor of Business with a major in property and management. The company which I received Dolphin Capital Investors has a headquarters located Tortola in the British Virgin Island left me feeling a little overwhelmed as I had never even heard of this company. This is one of the first videos I stumbled upon while doing my research. Enjoy!

https://www.youtube.com/watch?time_continue=1&v=SDIU8yxAr50

This video shows one of the locations which is in Greece. It made me realise that I need a holiday and quickly.

Dolphin Capital Investors is a real estate investment company that is focusing primarily on the residential resort sector in emerging markets and was listed on the Alternative Investment Market (AIM) in 2005 and continues to be listed. Dolphin Capital Investors was one of the largest real estate investment companies in terms of Net Asset Value (NAV) in 2012. It was founded in 2004 by Miltos Kambourides and Pierre Charalambides. In 2007 Dolphin Capital Investors acquired Aristo Developers one of the largest holiday home developers in Cyprus.

We acquire large seafront sites of striking natural beauty in the eastern Mediterranean, Caribbean and Latin America and develop them into sophisticated leisure-integrated residential resorts, in partnership with some of the world’s most recognised architects, golf course designers and hotel operators.

1

https://www.youtube.com/watch?v=SDIU8yxAr50

http://brittanycqu.wordpress.com/

https://moodle.cqu.edu.au/user/profile.php?id=74152

http://brittanycqu.wordpress.com/


Dolphin Capital Investors has a total portfolio of over 36 million square metres of land and 48 km of seafront property. Comprising 12 large-scale resorts under development in Greece, Cyprus, Croatia and Turkey and more than 60 smaller holiday home developments in Cyprus.

Dolphin Capital Investors opened its first resort, Amanzoe, in Porto Heli in the area of Peloponnese, in August 2012. Dolphin Capital Investors opened its second resort in July of 2014 which was Nikki Beach Resort & Spa which is also located in Porto Heli and is the first Nikki Beach Hotel & Resort in the East Mediterranean. Then Dolphin Capital Investors opened its third resort, Amanera in November of 2015 in the Dominican Republic.

Annual Report Key Concepts and Questions/ Difficulties/ Opportunities

Dolphin Capital Investors PLC annual report can be found here: http://www.dolphinci.com/wp-content/uploads/DCI_Annual_Report_2017.pdf

When I first opened the 2017 annual report for Dolphin Capital Investors (DCI), I was more than a little bit stunned when I realise the document had 98 pages. I must admit, it did take me a while to build up the courage to work through the annual report and fully comprehend the information. I thought I would find displeasure when reading this document, but I actually really enjoyed slowly working through the information and finding out all my companies secrets.

I found the balance sheet, Income statement and the statement of changes in equity all fairly easily in the document as the contents page was the third page in. I did have trouble understanding these documents but after rereading them multiple times, researching and looking at the PowerPoints on Moodle I feel like I can finally say that I understand the financial statements.

I first came across the financial highlights which I thought was interesting as it laid out the Gross Assets, Sterling Nav Per Share, Total Group Net Asset Value (‘NAV’), Total Group Cash and the Total Debt. I noticed that the number for total debt was €98million which I thought was a lot but after reading into this number DCI does not have any borrowings this is the group debt which is at project level on a non-recourse basis. Some difficulties that I found in this section was that I didn’t understand what Sterling Nav Per Share was and what Total Group Net Asset Value meant. I soon found out that NAV stood for Net Asset Value which helped to break down some of the information, but I have yet to find out what Sterling Nav Per Share is.

I quickly noticed that DCI has a lot of investment properties and properties in general, so I thought I would make a list of them to break them down more easily. Which will include the name of the property and the stake DCI has in the business.

2

http://www.dolphinci.com/wp-content/uploads/DCI_Annual_Report_2017.pdf


Amanzoeo 100%

Kilada Hills Gold Resorto 100%

One&Only Kea Islando 67%

Nikki Beach Resort & Spao 25%

Sitia Bay Gold Resorto 78%

o Sold in April 2018 Scorpio Bay Resort

o 100% Lavender Bay Resort

o 100% Plaka Bay Resort

o 100% Triopetra

o 100%o Sold in February 2018

Apollo Heights Polo Resorto 100%

Livka Bay Resorto 100%

La Vanta – Mediterra Resortso 100%

Aristo Cypruso 48.7%

I have noticed while looking through the annual report that the Total Group NAV for DCI has decreased by €42 million an €40 million from the 31st of December 2016 figures which is mainly due to the valuation write-downs, depreciation and regular operational, cooperate, finance and management expenses.

Next, I noticed that the companies resulting in a loss after tax amounted to €32million which compared to €244 million for the period ended 31st of December 2016. Which is a €212 million difference between the years of 2017 and 2016. The loss for 2017 is mainly due to the €19 million year-end net valuation reduction and impairment charges, as well as the Company’s overhead and finance expenses.

I have noticed while looking over DCI’s annual report that the company has quite a few properties in Greece. One of the major challenge that the company has been faced with was

3


the Greek government debt crisis and financial crisis in Greece. The Greek financial crisis occurred in 2007 – 2008. And the Greece government debt crisis occurred after the financial crisis in 2010 and is expected to end in August 2018 which should end the countries reliance on EU financial stability funds. Which should mean a stronger economic footing for Greece and DCI and with the record tourist arrivals recorded during 2017 in both Greece and Cyprus this should mean that the businesses in Greece and Cyprus will continue to increase their profits. The graph below shows the GDP, unemployment and Investment for Greece after the financial crisis.

One opportunity that DCI has come across was the disposal of Peral Island (Panama) which the company received €27 million cash consideration in March 2017. In early 2018 Dolphin Capital Investors had a sale for Dolphin’s investments in Sitia Bay for €14 million and the sale of Triopetra for €4.1 million.

I have noticed while looking through the 2017 annual report for DCI that there were board changes which were to reduce the number of non-executive directors which included Robert Heller and Sue Farr. This is due to the company’s smaller portfolio which occurred in 2017.

One term that I came across was macroeconomic indicators which just by looking at the word confused me. After some research, I found out that macroeconomic indicators are an economic statistic which is released periodically by government agencies and private organizations. These macroeconomic indicators provide insight into the economic performance of a particular country. In this case, the macroeconomic indicators were for Greece and according to the annual report, these are looking quite encouraging.

4


Another rather large challenge that Dolphin Capital Investors has faced was the terror attacks in 2016. Which lead to a sharp decline in the number of visitors. The tourism industry experienced a small recovery in 2017 which lead to an increase in revenue for Turkey of $26.3 million. According to the managers’ report, this sharp decline in tourists affected the revenue for Lavanta Resort in Turkey.

One opportunity that Dolphin Capital Investors is facing is for Amanzoe in Porto Heli. The occupancy levels for Amanzoe in 2017 was 71% compared to 62% in 2016 which is a 9% increase. Because of this Amanzoe is diversifying their villa offerings which will now include 2-bedroom villas. They are expected to increase the pace of sales and have already seen a number of potential clients interested. Some terms I came across that I didn’t understand were ADR and RevPAR.

Next, onto Kilada Hills Golf Resort one opportunity they are facing is that the urban plan was approved in April 2018 which is for the golf course construction. Kilada Hills Golf Resort is awaiting final approved and then infrastructure works may commence.

Another property that DCI owns is One&Only Kea Island which also located in Greece. One&Only Kea Island has received a €30 million senior construction loan which will finance the construction of One&Only Kea Island and will be in accordance with the existing development budget. One challenge One&Only Kea Island is facing that DCI is subject to meeting certain condition which will include the redesign of the resort which will meet One&Only Kea Island brand standards and DCI will also have to revise the resort construction permits. Another challenge that One&Only Kea Island is facing is that they need a €4 million equity injection which has been committed by third-party investors.

One property that DCI used to own was Nikki Beach Resort & Spa which is also located in Greece. As the result of a commercial co-operation agreement DCI now has no financial obligations for the day-to-day operations of the hotel. One opportunity that Nikki Beach Resort & Spa is facing is that the occupancy has improved to 61% from 50% in 2016.

Next onto Apollo Heights Polo Resort which is located in Cyprus. Apollo Heights Polo Resort is facing one challenge which is that the zoning and entitlement processes have been extremely slow for not only Apollo Heights Polo Resort but for everyone in the Sovereign Bases Area.

Now onto Livka Bay Resort which is in Croatia this business is facing one opportunity which is that its currently up for sale and has already had a couple of offers made.

Aristo Developers which is located in Cyprus has increased its new sales booked from €42,349,273 in 2016 to €74,651,736 which is an increase of €32,302,463. The homes and plots built by Aristo have also increased from 104 in 2016 to 143 which is a 38% increase. There was also an agreement made in 2016 for DCI to sell its stake in Aristo Developers to Mr Theodoros Aristodemou, but DCI in 2017 decided to terminate the existing agreement and instead retain the remaining portion of its Aristo shares. This termination of the agreement was a setback to the divestment program.

5


I have now figured out where DCI got their Total Debt figure from, the breakdown is that Greece properties are €74 million in debt, Cyprus properties are €16 million in debt and lastly the rest of the properties that don’t fall under Greece or Cyprus have been placed into the other category which €8 million in debt.

One major opportunity and challenge that Dolphin Capital Investors are facing is that DCI has the intention to dispose of all of its assets by the 31st of December 2019. The board expects to return the proceeds from asset disposals to shareholders. This is because in December of 2016 the company’s new asset strategy came into action. There is no reason for the disposal of assets I can only draw conclusions. The main conclusion that I have drawn from this is that the company is in a great amount of debt and does not have the cash flow to support that debt. The Total group Cash DCI has is €13.8 million which is not substantial enough to pay off the debt accrued. I would like to know more information about the liquidity and I have emailed Dolphin Capital Investors with some questions.

The last term that I came across in the financial report that I had trouble understanding was Directors’ remuneration. I did notice while looking through the annual report that Andrew Coppel had a remuneration of €229,000 in 2017. I later found out that Directors’ remuneration is the process by which directors are compensated, through either fees, salary or through the use of company property, usually with the approval of shareholders and the board of directors. For the year 2017 the Directors’ remuneration total was €772,000 compared to 2016 which had a total of €1,415,000. The total difference between the two years was €643,000. The difference is due to the fact that Laurence Geller, David B. Heller and Justin Rimel resigned from the Company’s Board.

In summary, the annual report for Dolphin Capital Investor is definitely a marketing document with the use of glossy photos with happy people and sunny skies, there were also a couple of optimistic comments. Without digging further into this company’s annual reports and the company in general, you would think that everything was going really well for them. But with the terror attack in Turkey and the financial crisis in Greece, I believe it has really set the company back into debt and is one of the main reasons they are going into liquidity. Overall the document was easy to navigate and understand. The general information was at the start of the document and all the financial statements and notes were at the end of the document making it easy to navigate. For the visual learner in me, I was extremely pleased with the use of visuals such as pictures, graphs, maps, dot points and highlighting.

6


Similarities and Differences

I was paired up with two students to discuss the similarities and differences they were Mitchell Warry and Ngoc Phuong Dai Huynh. Ngoc Phuong Dai Huynh’s company is Dekel Oil whereas Mitchell Warry’s company is Good Energy Group.

First, I will discuss the similarities and differences between Ngoc Phuong Dai Huynh’s company and my company. The similarities between the two company are that both companies have multiple locations, Dekel Oil has two locations one in Britain and one in South Africa. Both companies also have the same financial year with Dekel Oil’s financial year ending on the 31st of December and Dolphin Capital Investors financial year ending on the 31st as well.

The differences between Dekel Oil and Dolphin Capital Investors are that Dekel Oil is an oil company whereas Dolphin Capital Investors are a real estate investment company. Another difference is the location Dekel Oil is based in South Africa and Britain, whereas Dolphin Capital Investors are based in the British Virgin Islands. Another difference is that Dolphin Capital Investors seems to be a larger company than Dekel Oil.

The similarities between Dekel Oil and Dolphin Capital Investors annual reports are that they are both in the same currency which is euros. The income statement for both companies also has the same name which is Consolidated statement of profit or loss and other comprehensive income. Lastly, both companies’ annual reports have grouped annual reports instead of parent financials.

The differences between Dekel Oil and Dolphin Capital Investors annual reports are that Dolphin Capital Investors annual report has higher total assets. Dolphin Capital Investors annual report seems more comprehensive and detailed compared to Dekel Oil’s annual report. Dolphin Capital Investors annual report also shows a higher salaries cost which is €4998 compared to €1354.

Ngoc Phuong Dai Huynh does seem pleased with the company she received as the reports seem easy to comprehend and can easily find information on the company.

Next onto Mitchell Warry’s company which is Good Energy Group. The similarities between Mitchell’s company and my company are that they are both newer company and were both started in 2004. Both companies are also listed on AIM. And lastly both companies have multiple locations, but one headquarters.

The differences between Good Energy Group and Dolphin Capital Investors is that both companies do not have a CEO. Lastly, Good Energy Group is an energy company whereas Dolphin Capital Investors is a real estate investment company.

The similarities between Good Energy Group and Dolphin Capital Investors annual reports are that both financial statements found in the annual reports are grouped financials and not parent financials. Both annual reports are in euros and both have a not section on the financial statements. Both companies have the same name for the income statement which

7


is Consolidated statement of profit or loss. Lastly, both companies have the same name for Consolidated statement of changes in equity.

There is only one major difference between Good Energy Group and Dolphin Capital Investors annual reports, is that Dolphin Capital Investors annual report seems more comprehensive and detailed compared to Good Energy Group’s annual report.

Mitchell Warry does seem pleased with the company he has received as the annual reports seem fairly easy to understand and for the reason that you can fairly easily find information about the company.

Studiosity Feedback

General

Thanks for uploading your file to Studiosity! It looks like you’re in the final stages of completing your assignment, but there are just a couple of minor things to address before you submit your work.

Choice of language

The majority of your work flowed in a coherent and concise manner. However, you need to ensure that the words you use in your writing reflect exactly what it is that you want to say. Our use of language is often ambiguous. Therefore, in order to prevent ambiguity, you need to ensure that you use expressions that are clear and clearly state the point being made intended meaning. A few instances of unclear sentences have been highlighted in your content annotation.

You also need to bare in mind that one aspect of academic writing is that it should be concise. This is not evident in some of your sentences that are too wordy. You need to ensure that the words you use in your writing reflect exactly what it is that you want to say. This can be achieved by ensuring that you do not use irrelevant or repetitive words or phrases in your sentences. A few examples of the use of irrelevant words have been highlighted in your content annotation.

Additionally, some parts of your work consist of lengthy sentences. You would therefore need to summarize each lengthy sentence so that it becomes less wordy and is easier to read. Finally, you need to spell all contractions as two words. For example, instead of saying don't, it should be do not. The use of contractions is inappropriate for academic writing.

8


Spelling / Grammar

The majority of your subjects and verbs agree with each other. The majority of your use of spelling is also reflective of the rules that govern spelling in English. However, you need to consistently use a comma to separate your introductory phrases and transition words from the rest of the sentence in which they appear. This will help to maintain the clarity of each sentence. Finally, the apostrophe and letter S are used for the majority of possessive nouns throughout your work.

Sharing and Discussing with others

30/07/2018o Carissa

-https://brittanycqu.wordpress.com/2018/07/16/welcome/#comments 30/07/2018

o Ryan - https://billabongaccounting.wordpress.com/2018/07/23/capital-and-counties-properties-capco/

4/08/2018o Quintin - https://quintin12084395.wordpress.com/2018/07/16/the-journey-

begins/comment-page-1/#comment-2

9

https://quintin12084395.wordpress.com/2018/07/16/the-journey-begins/comment-page-1/#comment-2

https://quintin12084395.wordpress.com/2018/07/16/the-journey-begins/comment-page-1/#comment-2

https://billabongaccounting.wordpress.com/2018/07/23/capital-and-counties-properties-capco/

https://billabongaccounting.wordpress.com/2018/07/23/capital-and-counties-properties-capco/

https://brittanycqu.wordpress.com/2018/07/16/welcome/#comments


My favourite blogs

While trying to read as many blogs as possible I stumbled across my top three blogs. They each caught my attention and kept me interested and intrigued.

Firstly… Its Accrual World By Kelly

Link to Its Accrual World: https://carissadoesacounting.wordpress.com/?wref=bif

Rating: ⭐️⭐️⭐️⭐️

I was originally drawn to this blog by the catchy title and the picture of the dog. I was definitely not disappointed with Kelly's blog as she kept the content and showed continuous pictures of cute dogs. Much like myself, Kelly had been assigned a company that she had never heard of before and was in an industry that she was not really familiar with. Kelly's blog is very easy to navigate, well written, it includes cute pictures of dogs, making it all an enjoyable read. I particularly enjoyed the questions at the end of Kelly's blog posts and is something that I would like to include in my blog posts as well.

10

https://carissadoesacounting.wordpress.com/?wref=bif



Next… Carissa does accounting

Link to Carissa does accounting: https://carissadoesacounting.wordpress.com/?wref=bif

Rating: ⭐️⭐️⭐️⭐️⭐️

I am not sure how I stumbled across Carissa’s blog but I'm glad I did. I was defiantly not disappointed when reading Carissa's blog, her use of gifs and pictures really kept a visual person like myself intrigued and wanting to read more. Carissa's blog is very easy to navigate, well written and is all on the one page which makes it easy to find all the blog posts. I personally enjoyed each introduction as the start of each post as it gave the readers a personal connection to what she was thinking.

Lastly… This little piggy bank By Emma

Link to This little piggy bank: https://thislittlepiggybank.wordpress.com

Rating: ⭐️⭐️⭐️⭐️⭐️

11

https://thislittlepiggybank.wordpress.com/

https://thislittlepiggybank.wordpress.com/




I know I have tried to look through and read as many blogs as possible, and while most people are up to around the same stage as me. Emma's blog seems to be ahead of everyone else and seems to be almost finished. I find Emma's writing style incredibly absorbing and her posts are high quality and the reader can tell that she has spent a lot of time and effort with each post. I really admire how Emma reflects on her learning, her use of colour/ highlighting and the use of visual references which makes her blog easy to read and comprehend.

Step 4

Please find my company spreadsheet uploaded with Assignment 1.

Step 5

As I started reading chapter 2, I came across the heading Rules of the game. At first, I was confused by this title. This title insinuates that accounting is a game. The term game to me usually suggests that there is a winner and a loser. I definitely wouldn’t think that there are winners and losers in accounting, but there most definitely are rules involved in accounting.

The first concept I came across in this chapter the realisation that the financial statements have not always been available to stakeholders outside of the firm. It wasn’t until the late 19th century that the financial statements were more commonly developed as separate documents. Clearly, the world has changed a lot over time, it definitely would have interesting to have seen clients trying to borrow money from the bank without providing annual reports.

In this chapter, I came across two new terms which were financial and management accounting. I learned that financial accounting is the term given to the set of reports revealed by reporting entities to the public. Management accounting is a set of reports for parties who are inside of the firms to access. It makes sense to me that businesses have these two types of accounting which are all based around the same set of accounts. As a business wouldn’t want to be sharing for instance their most profitable business or the least profitable business. I do wonder if a firm does keep two separate sets of reports?

Next ‘Where the rules come from’, I noticed there were a lot of abbreviations, so I decided to make a list with their full names and their responsibilities.

GAAPo The ‘rules of the games’

o Applicable to all country’s when preparing financial statements. AASB

o Outlines Australian GAAPo Mostly mimics the IRFS

12


o All business and government bodies must abide by ASIC

o Enforcers of the AASB ASX

o Enforces the production of financial accounting statements IFRS

o International GAAP IASB

o Developed IRFS

As I read on I discovered that I discovered that not all firms need to abide by these standards. But rather only those who are legally required to produce general purpose financial statements, for example, reporting entities. But what is a reporting entity? A reporting entity is a firm where equity investors need general-purpose financial statements from the entity to make decisions about how they will allocate their own resources. The term ‘entity’ is used because a reporting entity may not always be a private sector ‘firm’ it could also be a government entity such as a government department.

While looking through Dolphin Capital Investor’s financial statements, I came to the realisation that I would be very difficult to understand what a business does without some background information. Even though the information is right in front of you it doesn’t tell you everything you need to know about a firm, but it does give you a deeper understanding of how the firm is performing and managing their accounts.

Next, I came to accrual accounting, which I am kind of familiar with. I know it is when we record transactions and economic events in a firms accounts when the economic substance occurs. For example, a company is issued with a food invoice once a year, but they accrue for the expense on a weekly basis, because they receive the product on a weekly basis.

Next, I came across two key qualities that must be used when preparing financial statements which is relevance and faithful representation. I know it seems like a simple concept, but I needed to remind myself that the temptation to make your financial statements something that they aren’t may be tempting but this is why we have rules.

Lastly, I came to comparability which is all about consistency and the ability to make sense of changes that happen within the firm’s financial statements over time. This is what I encountered with my own company’s financial statements and annual reports which was consistency.

In summary for chapter 2 I would have liked to have seen a lot more visual representations as notice there is none in chapter 2. This would include tables, dot points, pictures, graphs and examples. As these examples would break up the heavy information and clarify a few things. A few sections in this chapter needs to be condensed with only listing the most important and relevant information.

13


As I started reading chapter 3 (Introducing Financial Statements I came across the four financial statements. These are the balance sheet, income statement, statement of changes in equity and the cash flow statement. I already had a small exposure to these financial statements through my own firms’ annual reports and through the PowerPoints located on Moodle.

I had a light bulb moment when Martin referred to annual reports as a markets document that includes glossy photos with happy people and sunny skies, filled with optimistic comments from the Chairman and Managing Director. This was exactly what I found within my annual report. I saw pages upon pages of marketing material and then finally the financial statements. I definitely felt a sense that the reports were created to tempt potential investors.

It was interesting to hear that a balance sheet shows the firm’s financial position on just one day. But my question is why it only shows the firm’s financial position on just one day. Wouldn’t be easier just to show the whole financial year?

The next thing that I found interesting was that the firm’s balance sheet has no required format. Which means if you work in the accounts for a business you would need to know all the correct and potential terminology that may need to be used. I have a person connect to this as my mum works with business accounts and talked to her about all the different terminology and formats that they use in the workplace which was very different to the formats and terminology used in my annual reports for my company.

The next statement that I read about was the income statement which includes the revenue and expenses of the firm over a period. I found it interesting that a firm does not have to include all the expenses which I suppose is, so they don’t give away all their secrets. Finally, some visual gold this would be the fundamental accounting equation.

Once reading about the definition of a parent company and parent numbers, I switched over to the annual report for Dolphin Capital Investors and notice that the terminology popped up a couple of times but is only included in the notes of the financial statements. As the financial statements are all grouped.

Next, I learned about the cash flow statement which I the fourth and final financial statement. I learned that the amount of cash a firm holds is vital to its exitance as it is the only thing that can be used to pay for purchases or debts. Cash is usually considered to be the firm’s banks account balance and may also be physical cash.

The quote from Warren Buffett “Price is what you pay; value is what you get. I enjoy this quote because everything in today’s society cost some amount. But what value do you get from that item? Usually, its cash flow in the business world or it may just be personal enjoyment.

Lastly, I came across dividends which is a subsection apart of cash flow. Dividends are basically investing in say a company and then owning shares from those shares the investor

14


can expect future dividends or as I like to think of it future cash. This section also included some visual gold which was Equity value = PV of expected future dividends and some tables.

In summary, the four financial statements discussed in this chapter are vital to getting to know how a firm operates and whether it will be profitable or not. Each of the four financial statements serves a different purpose and gives each reader a quick insight into the firm’s activities. While I feel like I have a much deeper understanding of the four financial statement I am still eager to learn more and look deeper into the information.

Some improvements that I would like to see in this chapter would be that I personally thought that the explanation of the four financial statements were too long. I would have liked to have seen each financial statement summed up briefly and with only the necessary details, as the non-critical information may get confusing for the reader and will get lost in the information as I know I did and had to re-read many times. Some visuals are required as well in chapter 3 this would be including graphs, pictures, dot points to break up the heavy information and some more equations. I would have been delighted to have seen examples of each of the four financial statements included in this chapter, so the reader can comprehend and see the information in context.

Step 6

The feedback I received from other students I found useful as the feedback given to me gave me tips on how to improve and parts of the assignment that was correct. I think the peer

feedback also gave the other students an idea on how they could improve in their assignments. I think the interaction between other students through their blogs, Facebook

and Moodle is an extremely good idea as it connects the students and I think it helps to improve everyone’s work.

15


PEER FEEDBACK SHEET: ASS#1

Feedback From: Brittany Kalina

Feedback To: Natasha Knight .

My Comments

Step 1

KCQs

Try to not list the KCQ’s and go further into debt about each KCQ. Go into more detail on why you didn’t like the middle section.

Step 2 I could not access your description, but I could easily find your blog link.

Introductory words in Description box

Photo and description

Link to your blog/Set up blog

Step 3 Great background information very detailed I liked the use of visuals maybe Include a company video/ YouTube clip.

Great KCQ’s very easy to understand.

Easily found the comments on other people’s blogs.

Background information on company

Comments/KCQs

Comments on other’s blogs

Step 4 For the movements in equity under the subsection Share options settled in cash for 2017, 2016 & 2015 put in zero or else it won’t add up properly.

Do the same for deferred tax asset for 2015 and for other non-recurring items-cash

Input company’s financial statements

Step 5 Really good information and I liked the use of visuals.

KCQs

Step 6

Individual feedback with others

I easily found the section in your report for individual feedback but notice there was no feedback.

Overall ASS#1 Overall its really good start I would just fix up your excel and re-read some paragraphs.

16




Feedback To: Joshua Matthews .

My Comments

Step 1

KCQs

Not provided in assignment

Step 2 I could not access your description box. I easily found the link to your blog Your blog is very well set up and easy to navigate, I particularly liked

the mountain picture. Introductory words in Description box



Step 3 Really good background on company. Love the subheadings I would recommend re-reading this section.

Good breakdown on KCQ’s maybe try to link the information to the information learnt in class.

I could not find your comments on other people blogs in your assignment.


Comments/KCQs


Step 4 Good start on your financial statements, any cell in your excel that has a – needs to be change to 0 or else it won’t add up correctly.


Step 5 Good breakdown on KCQ’s just re-read this section for grammatical errors.

KCQs

Step 6


Not included in your assignment.

Overall ASS#1 Great start on your assignment I would just recommend fixing up your excel and re-reading your assignment.

17




Feedback To: Kaitlyn Hill .

My Comments

Step 1

KCQs

Not provided in assignment

Step 2 I could not access your description box.

I easily found the link to your blog.

I loved your blog it was very easy to navigate and loved the personal touches on your blog.




Step 3 Great start on background information maybe re-read for grammatical errors.

Good breakdown try to link this information to information learnt in class.

Your comments on other’s blogs was not included.Background information on company

Comments/KCQs


Step 4 Good start on financial statements any cells on your excel that don’t have any numbers in it or have a – needs to be changed to 0 or else or totals won’t add up properly.Input company’s financial statements

Step 5 Loved your KCQ’s great work. I liked how you linked to your company information.

KCQs

Step 6


Not provided in your assignment.

Overall ASS#1 Overall really good start on your assignment I would just fix up your excel and re-read some paragraphs.

18



Feedback From: Joshua Matthews Student Number- 10046572

Feedback To: Brittany Kalina

My Comments

Step 2 The blog seems personal and offers an insight into your journey through Acct11059, it’s well thought out and simply to navigate which is good, well done.




Step 3 It appears you have taken care and consideration to research your company well, it’s reflected in your knowledge and understanding. The comprehensive analysist of the annual report furthers this evident in the economic analysis of the Greek economy to terrorist attacks and spoke about line items you were unsure about, it’s hard to offer feedback here without looking into the company myself. It’s well done.


Comments/KCQs


Step 4 The statements look comprehensive, there isn’t much feedback to be given here, again well done.Input company’s financial

statements

Step 5 The KCQs are in depth and reflect a knowledge that Brittany has connected well with Dr turner and the content.

KCQs

Overall ASS#1 Very well done and I enjoyed reading through. It overall reflects that you have connected personally with the content and what is being asked.

19



Feedback From: Carissa Henwood

Feedback To: Brittany Kalina .

My Comments

Step 1

KCQs

- Along with researching your company, I think you had some good reflection regarding how you were feeling about being assigned your company. Particularly at the end of your KCQs, there was some great reflection and critical thinking about DCI’s actual financial position (compared to their glossy, happy photos), and what might have led to this outcome for them (issues in Turkey and Greece).

- I would recommend reading your KCQs aloud (or using a service like Google translate to read to you) to see where you could potentially improve some of the phrasing of your assignment to give it greater clarity.

Step 2 - I was unable to access your description box (possible system error?), however I could access your blog through the link in your assignment. I think your blog title ‘The accounting onion’ is very clever, and you’ve done a great job of setting up your blog, and keeping updated with your blog posts!




Step 3 - Wow, great work on the research and background information of your company! Your step 3 reads reasonably clearly, however could benefit from a little rephrasing in parts for additional clarity.

- I haven’t seen a heap of comments on other blogs, but I’ve seen a couple of replies to comments on your own blog (including mine), which is great!


Comments/KCQs


Step 4 - While DCI definitely appear to be doing not so well with their financials, you’ve done a great job of inputting them into the spreadsheet! I especially like the use of colour at the end of each line!


Step 5 - I enjoyed reading through your Step 5 KCQs, and think you’ve done a good job reflecting on what you’ve learnt. There are a few good questions you’ve asked in Step 5, and I think you could definitely include a few more.

- I really like how you’ve included you were thinking about your assigned company when reading through the chapter, and thinking about how everything related back! Definitely a great way to look and think about the concepts in each chapter!

KCQs

20


Step 6


- No feedback here/not included in your assignment draft.

Overall ASS#1 - Overall a very comprehensive assignment – great work including everything in both your blog and your ASS1 file, making it easy to find and give feedback! I feel your biggest opportunity for improvement is in the clarity of your assignment.

21

Documents

Assignment 1 · Web viewACCT11059: Accounting, Learning and Online Communication . ACCT11059: Accounting, Learning and Online Communication . 1