The study of accounting is concerned with several units and BUACC5930 is one of them. This unit is mainly concerned with financial accounting. Also, it is termed as a foundation course for students enrolled in financial accounting study. The key aim of this unit is letting students know the accounting cycle for a sole proprietor, including recording transactions, preparing trial balance, balance sheet, and more. These are the things that make BUACC5930: Accounting Concepts and Practices Assignment Answer difficult to write for students.
The assignments concerned to the given unit generally deals with examining the accounting process for sole traders, partnerships and companies. If you are a student and willing to write BUACC5930: Accounting Concepts and Practices assignment answer, then you may need knowledge of the conceptual framework for corporate social responsibility, financial reporting, and sustainability reporting. Moreover, you can be asked to critically review the topics by discussing the key theoretical concepts that can be applied to practical settings.
Introduction to BUACC5930: Accounting Concepts and Practices Assignment
In this section, we have discussed a few questions that have been asked by the Federation University, Australia to students pursuing accounting courses. The questions details are –
To solve this assignment task, you are required to conduct financial performance analysis for the chosen company/industry. We understand that dealing with such tasks can be quite challenging, especially for those who are new to this course.
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Steps to do Financial Performance Analysis
For students pursuing financial or business accounting is required to deal with this unit code and its assignments as we have discussed above. However, there are three key areas you need to understand in financial performance analysis. They are –
◉ The financial statements structure
◉ The economic appearances and features of the company in which firm is operating
◉ The strategies followed by the company to stand ahead of its competitors
Additionally, there are 6 steps to be followed in developing financial statement analysis. Let’s have a look at them in detail.
Determine the features of industry economic
In beginning, you are required to identify the value chain analysis for a particular company. This activity is involved with several things such as manufacture, distribution, and creation of the products and services. Methods like Porter’s Five Forces or any other that can be used in this step.
Know the company strategies
Once you have undergone the above step, you are required to concentrate on the product/service nature that is being offered by the company. It also includes product uniqueness, profit level, brand creation, brand loyalty, and cost control. Moreover, factors like geographic diversification, supply chain integration, and industry diversification to be considered.
Measure the firm’s financial statements
In this section, you are generally needed to review the major financial statements in regards to related accounting standards. While measuring and evaluating the balance sheet, you may pay extra attention to issues like valuation, recognition, and classification that generally occur. Once you are done with this activity, you may ask yourself, whether the balance sheet is a complete document to represent the company’s economic position. In case, if you are unable to deal with such activities then avail accounting assignment help Australia services.
Evaluate the potential risks and current profitability
This can be said as one of the most difficult steps in financial performance analysis. It is because here you are required to add value in the company’s evaluation and its financial statements. However, our experts providing accounting assignment help in Australia say that the financial statement ratios concerned to asset management, liquidity, debt management/coverage and risk/market valuation, profitability, etc. can be used for evaluation.
Develop anticipated financial statements
In financial performance analysis, financial professionals need to take possible assumptions about the future of the company. Therefore, they are required to develop and determine the ways in which such assumptions can affect the company’s funding and cash flows. This can take the form of pro-forma financial statements depending on the techniques like the sales approach per cent.
Value the firm
For evaluating firm, there are several approaches to be followed and one of them is discounted cash flow methodology. Such cash flows can be like detailed techniques like free cash flows, etc. or projected dividends. Few more approaches can also include accounting-based measures, or relative valuation like economic value added. These were the few steps to be taken care of if you are going to analyse the financial performance of a company. These steps do not just enhance your knowledge but also helps in writing BUACC5930: Accounting Concepts and Practices Assignment Answer. If you lack at any stage discussed above then you might need the best assignment help service provider. Online Assignment Expert can be the best choice for you as they are the oldest academic assistance service provider who has been helping scholars since 2010. Few highlights of the services are discussed below –
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