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Bsb110 Assignment Notebook

Lecturer always ran out of time, which can only come from poor planning. Thinks the word 'but' is no good to say because her son told her so, and this became a time waster when she would accidentally say it and tell the same old story why she shouldn't say it. She was entertaining though when she related accounting to relationships, for example that a partnership is like a marriage, or that assets like her car last longer than her marriage. Content was thoroughly enjoyable, but I think you have to like numbers to enjoy it. That said, maths level was very basic. Lecturer mentioned 'higher order thinking' concepts but these were only logical and did not extend my high cognitive function. For example, that an incentivised manager should choose the depreciation method that results in higher profit. Or that an owner should choose one that results in less profit to minimise tax. Very basic concepts indeed. For exam, learn the two primary qualitative characteristics: relevance and faithful representation. Enhancing qualitative characteristics are not assessed, although they are covered in tutorials and good to know. Pay attention to financial ratios early on as they are assessed in the exam, but you only need to know whether a change is good or bad and be able to briefly explain what the ratio means and what it measures. You don't need to know how to calculate the ratio in exam but you do for the assignment. Also know cash receipts from customers and cash payments to suppliers calculation, but don't bother with a full statement of cash flows.

Anonymous, Semester 1, 2017

A great little unit to get started in accounting. Easy to understand and get a great mark as long as you follow the learning in tutorials and lectures.

Anonymous, Semester 1, 2017

This is a very unenjoyable subject! Too much theory no practicals.

Anonymous, Semester 1, 2017

Janet was great, got everything with her and was able to pick up the content really well. Not sure who this new lecturer is but shes absolutely useless. for one she skips slide before iv even go the chance to read them and doesnt bother to explain anything but assumes we know. Dont even understand what shes staying. Accounting has become an absolutely hell to learn she came in.

Anonymous, Semester 2, 2016

The new lecturer, Chrisann is hopeless. I am annoyed by her voice (possibly just my own opinion though). Janet was fantastic though, I don't know why they didn't just keep her for the whole semester. The new lecturer is so frustrating with the way she goes through content, and she's always getting distracted, mostly by food. I totally lost all motivation to attend lectures, and watching them online was even more annoying, because it was just her voice. I ended up just taking notes from the slides and going to the workshops to learn content.

Anonymous, Semester 2, 2016

Accounting Assignment (Part A) 2. a) The first focus of CSR for corporations such as JB Hi-Fi should be the environmental responsibility. Since, JB Hi-Fi is a business that sell products from consumer electronics to kitchen appliances; according to Caramela it would be expected of the corporation to provide a report outlining environmental efforts it takes to reduce and/or recycle electronic waste (2016, under “Environmental Effectiveness”). The second CSR would be the corporate philanthropy such as donations to charities and/or other organisations. The benefits could include the promotion of good public relation and possibility of attracting more employees and customers (Henderson et al., 2014). The third expected CSR would be the economic responsibilities. If a company does not generate profit, employees will lose jobs and it won’t be able to fulfil its other social responsibilities (Brusseau, 2011). The fourth CSR of JB H-Fi is the ethical responsibility of doing what is right even when not required by the letter or spirit of the law (Brusseau, 2011). By treating its customers fairly and ethically in cases such as product/service returns, JB Hi-Fi will be able to bring a strong brand image. b) The environmental and philanthropic responsibilities identified above were disclosed in JB Hi-Fi’s annual report. Page 14, “Environmental Statement” section of the report states that JB Hi-Fi has implemented a voluntary initiative to facilitate the return of used mobile phones by customers so that they can be recycled and reused. Under “Social Statement”, on page 15 of the report, JB Hi-Fi has a program called “Helping Hands”. It is a program which encourages its directors, executives and employees to donate to registered charitable organisations through payroll system. The three CSR initiatives disclosed in the report are Economic, Environmental and Social responsibilities. c) The three major theories for implementing CSR initiatives are “stakeholder management”, “corporate Legitimacy” and “enlightened self-interest”. Enlightened self-interest theory describes costs motivated by a desire to promote society’s best interest, but are also incurred in the hope of generating greater benefits for the business than the costs (Henderson et al., 2014). Companies implement this theory to promote a socially responsible image by donating charities or other organisations. Stakeholder theory suggests that an organisation is part of a broader environment with complex and dynamic relationships with its stakeholders (Henderson et al., 2014). Businesses undertake this theory to achieve its strategic achievements by meeting important stakeholder demands (Henderson et al., 2014). Corporate legitimacy theory is a generalized perception that entity’s actions are desirable, proper, or appropriate within some socially constructed system of norms, values, beliefs, and definitions (Suchman, 1995). Implementation of this theory assures the company’s continued survival and legitimacy, as long as its activities are consistent with society’s values (Henderson et al., 2014). “Helping hands” and “Change for Change” are initiatives that encourage employees and customers to make donations to charity organisations are indication that JB Hi-Fi has applied enlightened self-interest theory. An example of corporate legitimacy theory implementation is their “Australian Packaging Covenant” program that ensures the environmental impact from packaging is reduced, measured and understood. JB Hi-Fi’s annual response to Carbon Disclosure Project(CDP) suggests that they have applied stakeholder theory. Doing this could be one of the ways of increasing the number of shares bought, as CDP reports entity’s environmental action to investors. Reference list: 1. Henderson, S., Peirson, G., Herbohn, K., Artiach, T. and Howieson, B. (2014). Issues in financial accounting. 15th ed. Frenchs Forrest: Pearson Australia, pp.912-948. 2. Caramela, S. (2016). What is Corporate Social Responsibility. Retrieved from http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html 3. Brusseau, J. (2011). The Business Ethics Workshop [EBL version]. Retrieved from http://catalog.flatworldknowledge.com/bookhub/1695?e=brusseauch13_s02#brusseau-ch01 4. Suchman, M. (1995). Managing Legitimacy: Strategic and Institutional Approaches. The Academy of Management Review, 20(3), pp.571-610.

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