Hi everyone,
I have attached my draft for assignment one and I am ready to give feedback to others and also hoping to receive some good feedback especially on the ratios part and my decision with the allocation of cash and cash equivalents .
I was unable to find any dividends paid to shareholders for my firm. I have added some evidence in my spreadsheet to support no dividends being paid in the past. Has anyone else found this with their firm?
With allocating the cash and cash equivalents I decided to allocate 10% to operating activities instead of the suggested 1% due to the higher percentages for my firm. One other student posted whether they should allocate higher than 1%, did anyone else need to make decisions like this for their firm?
Comparing with other firms will be interesting to see the results of the ratios for the different firms in the same industry.
Thanks for reading
Also here is a link to Step 1,2 and 6 if you wish to have a look 🙂
https://melsergiacomi.home.blog/2022/07/27/step-1-2-kcqs/
https://melsergiacomi.home.blog/2022/07/31/step-6-kcq/
Published by melsergiacomi
Hi my name is Melissa, but most people call me Mel, I am currently studying Bachelor of Business majoring in Accounting part-time while I work full-time as an administration officer.
I am married to a wonderful man called Shaun and we have a beautiful five year old daughter named Kenzie. We live in Bundaberg, where we are lucky enough to have most of our family here and also a great big bunch of amazing people we call our friends.
We are a soccer family and all love to play on the weekends, although this year I am having the year off, which for my studies that will be very helpful, time wise. Although I will still be lucky enough to watch both Shaun and Kenzie play on Saturdays. Soccer for us it a great way to catch up with a lot of our friends and have a laugh or two. Apart from our soccer we love spending time with friends going to the beach or watching the footy having a few beers. When we can we love to go away camping and fishing and just having a great time together as a family.
I decided last year that I wanted to finally make the step and enroll in University. I chose to study Bachelor of Business majoring in Accounting because I have always had an interest in accounting and finances. I believe accounting for me can be a career which I can work hard at and achieve something I can be proud of and one that if I do well I can become someone that has great responsibility and value in the workplace. As well as deciding to study, I changed my employment after 11 years working at a pathology company as a Phlebotomist. I had been looking for a new job for some time but was finally given the opportunity to work as an administration officer for a local non-for-profit company. I wanted a career that I could build on and “climb the ladder” as such. Working as a phlebotomist, although was very interesting, rewarding and I meet a lot of different people, I was stuck with no where to go. Although there is only so far I can go as an admin officer, I believe it can be a great step towards my end goal of being an accountant.
Although a part of me wished I did take the step to go to university years ago I believe I have the maturity to really succeed at my studies. I am lucky enough to have great support around me with my husband, friends and family always encouraging me and going along with me in my journey. Now both Shaun and I together are starting new career paths, with me changing jobs and studying and Shaun just starting his electrical apprenticeship as a mature age apprentice.
Things are definitely on the up for us as a family, although it will take some time, hard work and sacrifices, in a couple years time we will have put our family into a great position that we can both be proud of.
Hope you have enjoyed getting to know me, I can’t wait to read about some of you!
Thanks for reading
Mel
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Wow Mel, I think you have done a fantastic job and I think your work made me understand Xero even better.
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I understand your relief at getting a company you know. My allocated company was in the tech industry too but I had never heard of Nitro. Xero I would be much more familiar with. I had similar struggles as to whether to allocate 1% or more of cash. In the end, though, I ended up just going with 1%. I too saw big year-on-year changes.
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I notice Xero recorded a net loss in 2022, with its expenses significantly higher than in 2021. I wonder why this was?
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