ACCOUNTING CONCEPTS AND PRACTICES

Requirement

1- Write a report on "ACCOUNTING CONCEPTS AND PRACTICES"  within 1750 words.

Solution

Introduction

Financial statements are the most important document of a company. this shows the financial stability of a company for a particular period of time. This paper will analyse several financial events and elements of Transurban limited. It was founded in the year 1996 and working with 1500 employees worldwide.It is a company of road operator which develops a toll road in urban areas. This will be done to conclude on the improvement of the business or the company. Areas that will be significant in this analysis are changes in investment, an increase in working capital and cash flow of the company. This will help toanalyse the improvement in the financial cycle of the company for the period 2017 and 2018. This analysis will help to examine the investment position in the company. 

Analysis

Question 1

There are several terms that help in understanding the improvement in the financial position of the company. The areas are growth in the assets, reduction on the liability, dividend pay-out, and many more such areas. This part will analyse the financial or monetary improvement in the company in different segments.
Revenue position if the company shows the day to day or operating performance of the company. There has been an improvement in the percentage of the growth of the revenue. This states that the sales of the company have been improved (Cooper et al. 2017). This marks changes in the construction activities of the business.
It could be seen that the gross margin if the company has been increased.  It is clear that three is an improvement in the trading activities of the company.  it has been showing that sales of the companyhave been improved. Operating activities improvement shows that there is an improvement in the tool revenue for the company in 2018.
The book value of the company has been decreased. This means that the assets of the company have reduced to some extent.  The stakeholder's equity could be told as decreased for the company.  The per share value of the company has been decreased in comparison to the total equity available for the common shareholders (Nishimura, 2019). There has been a downfall in the asses holding of the company. It could be said that the capital of the company is also decreasing.  
There has not been a significant improvement in the investment return for the company. this is the major area that shows the efficiency of the company. The projects are not seemed to be so beneficial for the company. there was a little bit rise in the percentage of fur in 2018 which is 1.49% in 2018.
The sales growth of the company has seen improvement. This means that the strategy of the company in increasing the customer experience has been increased. The operational activities of the company have also improved in the past two years. Capital spending growth has been slowing down in 2018. The reason in the earning of the company in the common or ordinary shares is seemed to be remarkable (Parker, 2016). Therefore, there has been any significant change in the capital structure of the company. 

Other areas that could be analysed to mark the improvement of the company are: 

  • Health, environment, and safety- It provides a safe and healthy environment to the employees of the company. it also includes personnel like contractors, community, and customers. The company is determined to provide most out its operational activities. This is the major improvable area for the company (Thai, 2017).

  • Inclusion and diversity-  It has maximized the diversity in the Transurban areas. This has a major impact on the turnover ratio of the company.It has encouraged the same feeling if improvement among the employees of the company. The main strategic pillars of the company are thinking long term, bee a good neighbour and useless. This has guided the company in managing the operations, plan and identify future initiatives and deliver new projects.  

  • Customer experience- The company has helped the customers to meet their particular needs. This has been done by making easy for the customers to understand and use the toll roads.  It is being transparent to the customers and is flexible too (Amara and Benelifa, 2017). It listens to the terms and queries of the customers. This brings the company to stand in front of the competitors. [Referred to appendix 1]

  • Risk management- This is the major qualitative area of the company in managing the improvement. It takes the projects which have risks. However, it has a full proof strategy for undertaking risk-oriented projects. sustainability reporting of the company is a major area that shows that it has managed to take the projects rationally and smartly. It has worked towards becoming a carbon neutral company. it manages with the climate change that has helped it is improving the operational activities.  It regularly revises the risk associated with the current assets. Transurban risks are also regularly checked by the company. Electric and automated vehicles have emerged and the company is taking the plans accordingly. (Transurban, 2019)

Conclusion

Thus, it could be concluded that there is an improvement in the dividend pay-out ratio. This means that the operational activities of the company have been improved. There has been an improvement in the total assets of the company. The ratio for the book value per share shows that it has reduced for 2018. Sales of the company have been increasing which is the result of the improved strategy for the sales. Sustainability is another area that has been maintained by the company. customer experience has been improved with the help of offering toll road choices to catch their particular needs. 

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ANSWER 2:

TRANSURBAN ACHIEVING THE UN SDGs:

The SDGs help in achieving a sustainable and better future for everyone; they help in addressing the global challenges related to poverty, climate, prosperity, inequality, peace and justice. Trans urban has been striving hard to achieve these sustainable goals. The company has implemented several strategies like 

  • Redesigning the road safety measures for reducing risk of accidents 

  • For addressing mental health the company has formed a network of mental health first aid officers

  • Work practices have been made flexible for reducing gender inequality

  • Women have been trained for leadership positions

  • Scholarship has been provided for women in engineering institutes

  • Energy efficient schemes have been implemented for focusing on lighting and ventilation

  •  Installing of renewable energy schemes 

  • Economic growth has been achieved by promoting seven development projects which have created considerable employment opportunities

  • Collaborating with Beyond Zero Emission has helped in reducing carbon emission in using concrete

  • Fitness for Work structures have been introduced for promoting safe working environment

  • Programs for increasing the students work experience  to meet the global strategy of youth employment

  • Graphene road sensors, LED in road communications, forming electric vehicle working groups  are some projects related to enhancing infrastructure and technology

  • Undertook monitoring and reporting quality of air for road tunnels for controlling adverse environment impact

  • Has partnered with multiple stakeholders for achieving beneficial goals 

Thus the company has tried hard to meet the goals laid down by the UN SDGs through the above mentioned activities.

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RATING THE SUSTAINABILITY OF TRANSURBAN:

The initiatives undertaken by Trans urban have helped it to achieve certain SDGs laid down by UN for attaining better and sustainable future. The sustainability report of FY 18 has shown that the company has been successful in appointing 95 mental health first aid officers for addressing measures related to mental health. This will help the company to reduce premature mortality through non communicable diseases. The road injury crash index has been reported as 4.82 but the target is 4.04; MUARC (Monash University Accident Research Centre) crash analysis report has revealed 80% lower crashes in NSW, 81% lower in VIC, in QLD the crashes have been lowered to 53%. The company has won citation for achieving gender equality like WGEA Employer of Choice for Gender Equality and Euileap Top 200. Applying renewable energy has helped the company in reducing electricity, 140 kW of renewed energy has been used by the company, the electricity consumption has been reduced by 2% and the company has succeeded in using 2.4% of renewable energy. As regards employment the company has provided 6000 jobs with no significant pay gap between male and female employees. The company has earned 100% rating awards in projects like City Link Tulla Widening- excellent infrastructure rating (as built) (Transurban.com, 2019); Logan Enhancement Project has also earned excellent infrastructure rating in design. As regards youth employment 8 graduate students have been recruited and 48 students participating in FEET (Females Excelling in Engineering and Technology) have been appointed. For controlling the environmental impact air quality indicators have been introduced in the tunnels and the report reveals that the company has shown 100% compliance in this initiative. The company has achieved significantly higher recycling percentages on construction projects. For successful reuse of waste materials the company has succeeded in diverting 16% wastes from landfills. As regards climate action goals the company has undertaken climate change risk reviews for all Australian assets as per the sustainability report. 
The data provided by the sustainability report has shown that the company has progressed immensely and has succeeded in attaining the SDGs. This will help the company to sustain globally and build a better and secured future for the younger generation. Success in the gender equality initiatives will help to create common and comfortable workplace for both men and women, the initiatives in environment protection will ensure providing healthy and safe atmosphere to the community (Transurban.com, 2019). The road safety measures will increase the sustainability quotient of the company as it will reduce the occurrence of accidents and ensure the society remains safe while commuting. Partnering with several stakeholders like Beyond Zero Emission, UN Global Compact, MUARC has helped in sharing knowledge, expertise, financial resources and technology. The NeuRA partnership has helped the company to reduce serious injuries from vulnerable road users. Thus the initiatives related to SDGs have proved effective for the company and will help the company to progress and sustain in the Australian market.

Reference list

  • Journals 

  • Amara, T. and Benelifa, S., 2017. The impact of external and internal factors on the management accounting practices. International Journal of Finance and Accounting, 6(2), pp.46-58.

  • Cooper, D.J., Ezzamel, M. and Qu, S.Q., 2017. Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), pp.991-1025.

  • Nishimura, A., 2019. Conceptual Analysis of Value-Based Management and Accounting: With Reference to Japanese Practices. In Management, Uncertainty, and Accounting 4(2) (pp. 51-72). Palgrave Macmillan, Singapore.

  • Parker, L.D., 2016. The global Fayol: Contemporary management and accounting traces. Entreprises et histoire, (2), pp.51-63.

  • Thai, K.V., 2017. International public procurement: concepts and practices. In International handbook of public procurement, 180 (6), pp.297-306.

  •  Website 

  • Transurban, (2019), Reporting, available at:  https://www.transurban.com/about-us/reporting, [accessed on 28.05.2019]

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