My Draft of Assessment 1!

Here is my draft for Assessment Item 1, to my group please find the relevant information below. Please email me if there are any concerns.

The one part of the assessment that I need guidance/feedback on is the Step 2, thanks.

Step 1

My personal moodle and blog account have been set up correctly. The moodle account has been edited with a description box, picture and a link to my blog. My blog can be found here.

Step 2

The most recent Annual Report (2014) of Gazal Corporation Limited can be found here.

A Quick Overview

Gazal Corporations Limited is a clothing retailer that is based in Australia. Michael J. Gazal is the current Executive Chairman on the Board of the Directors for Gazal, his father Mr. J.S. Gazal was the founding chairman of the Gazal group.

Gazal has many well-known brands under their belt and carries a heavy portfolio in retail. Last year Gazal began a Joint Venture that brings together Calvin Klein Underwear and Calvin Klein Jeans businesses in Australia and New Zealand. This is one of many examples that the Gazal group is constantly looking forward into new ventures and has a large vision for the company. Not only do they have a large vision in their ability to look ahead, serve customers well and to invest in great opportunities, they also have made profit each and every year.

Top 3 Blogs

Gee gets a spot in my top 3 because of the simplicity he uses in his blogs, no information overload! But I like that he includes links in case you are the type of person who wants to know more. His blog is here.

Kirsty is in my top 3 because of the fun she brings throughout her page! She's always talking about something exciting and therefor bringing her readers in close. Her blog is found here.

Jodie, last but not least is in my blog because of the well-informed posts that she writes. They are both a learning opportunity and a knowledgeable reading also! Her link is here.

Step 3

Attached you will find my Company Spreadsheet of Gazal Corporations Limited, in this you will find the financial statements compiled together in the attained format. Alternatively click here.

Step 4

At first glimpse I really did struggle to get my head around this thing called “accounting”. I really did feel like it was the spotted dog amongst pure white coats, and reading the first chapter it almost concreted my initial view of accounting. The Author of the Study Guide Martin Turner proceeded to talk about all the five elements of accounting and briefly what they meant and how they worked. But seriously, I couldn’t grasp the actual relevance of the five elements and what they meant. It seemed like an impossible task. Then Turner started to talk about his life, interests and personal stories and I was frustrated that I was learning about his life and not accounting!

How ever, it was this style the turner wrote in the proceeded to change my stereotypical view of accounting. I have a few friends that I spoke with prior to starting my course, and ALL of them told me the accounting was their worst subject and that it was the MOST boring subject out of the business subjects. So having that initial mindset in place it was hard to think otherwise. It was Turner’s way that he taught that slowly change my mind from being absolutely gob smacked at the term accounting, to have a slight knowledge and the willingness to learn more.

My grandfather last year started to teach me about the stock exchange and my brain was absolutely all over the place! It was something that I definitely wanted to learn about and to wrap my head around but it seemed like something I would do down the track of life. Little did I know that when I was reading the Chapter’s that Turner had wrote, I gained more and more knowledge about the same terminology and knowledge that is used quite heavily in the stock exchange. This came as a little bit of a surprise and also a passion to put my head down.

Throughout Chapter 3 this knowledge became more and more evident and the terms that I was reading about became so applicable in my own ventures. As I started reading about financial statements and the elements of accounting that we are looking for in companies it quickly cleared my view of accounting. Turner writes each chapter with a passion to see his students succeed and it was through Chapter 1 that it soon became apparent but throughout reading Chapter 3 it became increasingly obvious!