Sample BUACC5930 Accounting Concepts and Practice Essay

BUACC5930 Accounting Concepts and Practice Essay Sample

The written essay should include (but not be limited by) a discussion about the following issues:

- a (brief) history of the company and how it formed

- its key initial success drivers, financial milestones or achievements

 - any major changes in its structure over its life – ie mergers/demergers/major capital management programs etc

- the generally accepted reasons that may have caused financial difficulty

- the social impact of its failure – both internally (ie staff) and externally, across the wider business community and society in general

- internal and external environmental considerations/factors

- a summary of the lessons learned

SUGGESTED FORMAT, APPROACH AND MARKING ALLOCATIONS

I. TITLE PAGE

Your title or cover page needs to convey the main information about your assignment. It must look
professional and include:

The Course Code and Name

The title of the assessment task

Name of the Course-Coordinator and of your tutor

Trimester, year and date of submission

II. INTRODUCTION

The Introduction should give an overview of your essay, possibly covering the following aspects:

Purpose of the essay

A summary of key themes, ideas, aspects covered or findings

Abridged findings/recommendations.

III. BACKGROUND: COMPANY OVERVIEW/HISTORY

A (brief) history of the company and how it formed

Initial success drivers, financial milestones or achievements

Any major changes in its structure over its life – ie mergers/demergers/major capital management programs etc

Other relevant information

IV. BODY OF ESSAY: ANALYSIS AND DISCUSSION

The main body of the essay should provide a critical evaluation of the internal and external environmental factors impacting the entities financial crisis and/or collapse. This may include a discussion and analysis around (but not limited to) the following aspects:

Environmental analysis (SCEEFLPTD); Social, Cultural, Economic, Environmnetal, Financial, Legal-regulatory, Political, Technological, Demographic.
Generally accepted reasons that caused its financial difficulty - should be identified, discussed and, where possible, explained.

Impact of its failure – both internally (ie staff) and externally, across the general business community, society and wider environmental context.

Summary of the key lessons learned

V. CONCLUSIONS AND FINDINGS

The Conclusion is your evaluation or summary of the major points and key findings (summary of lessons learned) as detailed in the Analysis and Discussion. The Conclusion should always be concise and must not contain any new information. It should draw the information together and summarise what you have found.

VI. RECOMMENDATIONS

Your recommendations are the culmination of all your work and should deliver a well rounded and thoughtful ending to your essay. The material in the body of your essay provides the basis for your considerations. The conclusion provides a summary of your deliberation over your findings. The recommendations provide the reader with your considered opinions of what would be the best decision(s) to make, or course(s) of action to follow (moving forward), based on your research and critical analysis.

For this assignment your recommendations should be directed towards both the internal management directors of the company and also any interested external stakeholders.

Solution

Abstract

The essay, report analysis, summaries and make a suitable recommendation over the financial and non financial aspects of Australia company. here as part of requirement of this essay, we have selected Commonwealth Serum Laboratories, an Australia Leading health care company for the assignment help operate in health care industry. the primary reason for selected of this company is that.

Introduction of Business Environment

Every business operates under the complex and competitive business environment and it is all upon the business to manage its exitance under the competitive culture, similarly, The healthcare industry operates within a complex and dynamic business environment that is influenced by a variety of factors such as economic, political, social, and environmental conditions. In this context, it is crucial for healthcare companies to understand the key drivers of their business environment to effectively manage risks and identify opportunities. One of the key economic factors that influence the healthcare industry is commodity prices. The demand for minerals and metals is largely dependent on the global economy, and fluctuations in commodity prices can have a significant impact on the profitability of healthcare operations.

In addition to that, healthcare companies must navigate regulatory frameworks and tax policies that vary widely across different jurisdictions. Changes in government policies can affect healthcare operations by imposing new taxes or regulations or by altering the conditions for obtaining licenses and permits. (Seaward, L., Morgan, D. and Thomson, A., 2023) The healthcare industry is also subject to social and environmental pressures, as stakeholders demand greater transparency and accountability for the impact of healthcare on local communities and the environment. This has led to increased scrutiny of healthcare companies' social and environmental practices, as well as greater demand for responsible and sustainable healthcare practices. Finally, the healthcare industry is subject to a range of technological innovations and disruptions, including automation, digitization, and the use of artificial intelligence. These developments are changing the nature of healthcare operations, creating new opportunities for efficiency and productivity, but also posing new challenges for the industry.

About The Selected Company

Commonwealth Serum Laboratories (CSL) is an Australian biotech company established in 1916 as a division of the Department of Health. It became a statutory authority in 1992 and was later privatized in 1994, listed on the Australian Securities Exchange. The company operates in over 30 countries and has major facilities in Australia, the United States, Germany, Switzerland, and the United Kingdom.

CSL specializes in developing and manufacturing vaccines, plasma derived therapies, and pharmaceuticals. Its primary focus is on producing plasma derived products like immunoglobulins, clotting factors, and albumin. These products are used to treat immune deficiencies, bleeding disorders, and respiratory diseases. Apart from plasma-derived products, CSL also develops and markets vaccines, including influenza, meningococcal, and shingles vaccines. The company is renowned for its contribution to vaccine research and development, and in 2020, it was among the first companies to develop a COVID-19 vaccine. CSL is regarded as one of the world's leading biotech companies and has won several awards for its innovative products and contributions to the industry

Some of The Key Successful Factors

CSL has made several significant contributions to the healthcare industry, particularly in the areas of vaccine development, production of plasma-derived products, research and development, and global reach. One of CSL's most important contributions has been in the development of vaccines. CSL developed the world's first influenza vaccine in 1944, which has played a crucial role in the prevention and control of influenza outbreaks globally. In recent years, CSL has also developed vaccines for diseases such as meningococcal disease, human papillomavirus, and whooping cough, helping to prevent the spread of these diseases and improving the health outcomes of people around the world. CSL is also a leading producer of plasma-derived products, including immunoglobulins, albumin, and clotting factors. (investors.csl.com. (n.d.). CSL Annual Report 2022. ) These products are used to treat a variety of medical conditions, including immune deficiencies, bleeding disorders, and shock. The availability of these life-saving treatments has had a significant impact on the lives of millions of people worldwide, enabling them to lead more normal and healthy lives. CSL's focus on research and development has also resulted in the development of innovative therapies for rare and serious medical conditions. For example, CSL's treatments for haemophilia and von Willebrand disease have been game-changers in the treatment of these rare bleeding disorders, enabling patients to manage their conditions and live longer, healthier lives. (investors.csl.com. CSL Annual Report 2022.)

Finally, CSL's global reach allows it to have a significant impact on healthcare worldwide. Operating in more than 30 countries and supplying products to customers in over 60 countries, CSL is able to provide life-saving treatments to people around the world who may not have access to them otherwise. This global presence also allows CSL to collaborate with researchers, clinicians, and policymakers globally, helping to advance the development of new treatments and improve healthcare outcomes worldwide. CSL's contributions to the healthcare industry are significant and far-reaching, from the development of life-saving vaccines to the production of vital plasma-derived products, and the development of innovative therapies for rare medical conditions. CSL's global reach allows it to have a positive impact on the health and well-being of people around the world, making it a key player in the healthcare industry.

The annual report of past few years shows the summaries picture as follow.

In the year of 2020, company has ensure the earning growth by more then 20% as compare to previous years, the growth in earning was $9.8 billion as again the past year earning. (AusIMM. (2021).

Similarly, the free cash flow generated in the year of 2020 was $9.4 billion, this amount was 28% higher in the year as again the previous years.( Annual Report. (2020.).

The average return on assets in past few years was 28% which is again above the industry annual growth rate.

The high earning of company shows the high potentiality of company to convert its weakness into the strength.

The past divided distribution was average between 2 to 5 $ which shows the effective earning of 5 to 10 percentage which is again the fixed return on investment which are above the risk free rates. The company has long history for payment of dividend along with consistency.

Corporate Restructure

Over the years, CSL has made strategic acquisitions that have propelled it to become a leading global biopharmaceutical company. One of its notable acquisitions is ZLB Bioplasma AG, a Swiss plasma company based in Bern. This acquisition allowed CSL to expand its plasma collection capabilities and establish a stronger foothold in the European market. CSL also acquired Aventis Behring, a biotechnology company that was known for its expertise in developing and manufacturing plasma derived and recombinant therapeutic proteins. With this acquisition, CSL Behring was born and became a global leader in the development of life saving immunoglobulins and coagulation factors. In addition to these acquisitions, CSL also acquired Nabi, a plasma collector with US roots who contributed to the creation of CSL Plasma, the world's leading plasma collection business. CSL now has access to a vast network of plasma collecting facilities across the US, Europe, and Asia thanks to this acquisition. CSL purchased the Novartis influenza vaccine company and integrated it into its operations under the name Seqirus in order to better diversify its vaccine portfolio. Seqirus is currently the second-largest influenza vaccine manufacturer in the world and an important participant in the worldwide influenza pandemic.

In the areas of gene modification and cell transport technology, CSL also made important acquisitions. The acquisition of Calimmune, a pioneer in gene-modification and cell transport technologies, enabled CSL to increase the scope of its cell therapy offerings. Furthermore, CSL purchased Vitaeris, a biopharmaceutical business that is working to develop clazakizumab as a potential treatment for organ transplant recipients who are experiencing rejection.

Through these strategic acquisitions, CSL has built a diverse portfolio of innovative products and technologies that allow it to meet the evolving needs of patients and healthcare providers around the world. With a rich history and a strong commitment to research and development, CSL is poised to continue leading the way in the biopharmaceutical industry.

General Observation

CSL is a highly successful company with several key strengths. One of its main strengths is its track record of strong financial performance, which is demonstrated by its consistently impressive revenue and profit growth and its solid balance sheet. Another strength is its diversified portfolio of assets across various commodities, which helps to minimize the risks associated with commodity price fluctuations and changing demand. It is generally observe that CSL is also known for its operational excellence, which is reflected in its strong safety record, efficient production processes, and effective supply chain management. This has allowed the company to provide high-quality products and services to its customers consistently. In addition to that The company invests heavily in research and development, and it has a strong focus on innovation. By developing several proprietary technologies and processes, CSL has improved its operational efficiency, reduced costs, and minimized its environmental impact. CSL has a robust system of corporate governance that includes a strong board of directors, independent oversight committees, and a focus on transparency and accountability. This has helped to build trust with stakeholders and maintain the company's reputation as a responsible corporate citizen.

Internal and External Factors

CSL, like any other company, is influenced by both internal and external factors. Internal factors that can affect the company's success include the quality of management, corporate culture, workforce, and financial resources. Effective leadership, a strong culture of safety and sustainability, a skilled and diverse workforce, and the availability of financial resources can all help CSL improve productivity and drive innovation.

On the other hand, external factors such as market conditions, government regulations, technological advancements, and environmental and social factors can impact CSL's operations and profitability. Changes in market prices and demand, government policies, new technologies, and increasing scrutiny of the industry's environmental and social impact can all have a significant impact on CSL's performance. Therefore, CSL needs to adapt to these external factors to remain competitive and successful
How company can achieve its financial goals

There are numbers of corporate strategy through which an business entity can achieve its financial goal. One of them is the adoption of cost cutting strategy, where the non productive expenses and outflows are minimise and control. This strategy were being adopted by the CSL Ltd. The said company has achieve its financial goals is to focus on cost cutting measures. The company can analyze its operations and find ways to reduce expenses, such as optimizing its supply chain or reducing energy consumption. In addition to that, Another way for CSL to achieve its financial goals is to increase production of its mining and metal products. This can be done by expanding existing operations or acquiring new mining assets. Adoption and improvement of overall working efficiency, through adoption of new technology the new technology can help the business in avoiding certain expenses and cost which are not a part of expenses, new technology can help to improve the efficiency of its operations, such as by implementing new technologies or streamlining its processes. This can help the company reduce costs and increase productivity.

Conclusion

The above stated discussion indicate that CSL has strong potentiality to convert all opportunities into the business growth, in addition to that company can deliver more then what is normally expected by investors. the continues growth and efficient operation of company show the strong relation with all investors as well as stakeholders.

Reference