Final draft

Here is my final draft which I am going to submit over the weekend. I thought I would post it here to see if anyone can see any last minute issues with it before it is submitted. If you see anything, there is no need to fill out a feedback sheet but if you could please just leave a comment with anything. Thanks heaps.

DW

Draft 2 for steps 3-6

Here is a second draft that I have updated after receiving some feedback. I know it’s still not complete but it is set out better and does contain more content. I have tried to use Studiosity but for some reason it just keeps re-directing me back to the unit page. I have contacted IT help but I am still waiting for them to get back to me. So if you haven’t already, please have a read and give me some feedback. It is all greatly appreciated.

Cheers

DW

Some shameless SEN commentary

Ive seen people post videos on about there company and here I was thinking that I didn’t have anything to post as my company owns radio networks. Then I had a lightbulb moment. Youtube is great to find videos on just about anything. So out of all the SEN commentary videos it was only natural that I would find some commentary about my beloved Tigers winning the 2017 premiership. So have a listen and even perhaps develop a love for AFL while you are at it!! I have plenty of Richmond scarves if you decide to jump on the Tigers and need some merchandise!!

My company – Pacific Star Network Limited.

Introducing my company Pacific Star Network Limited. http://www.pacificstarnetwork.com.au

Let me preface this by saying that Mr. Turner could not have assigned me a company better suited to me unless it was The Richmond Tigers itself. 

Pacific Star Network is a broadcasting and publishing company that own and operate ABC sports radio channels 1116 SEN (SEN) and SEN+. Now if you are a mad Australian Rules Football League (AFL) supporter like I am then you will be very familiar with SEN. Although I have listened to SEN on and off for a long time now, I had no idea who they were owned by. Of course SEN is not the only form of media that they operate. In broadcasting they also operate 3 digital only radio stations named Aussie, which surprise surprise, is an Australian themed station, Koool (yes three o’s!!) which plays songs from the 70’s and 80’s and Rythmos which is an ethnic radio station.

In December 2014 Pacific Star Network found its way into the publishing game when they acquired Morrison Media Services Pty Ltd. Morrison Media publish magazines such as Frankie, Spaces, Smith Journal, Slow Living and SEN Inside Football. This however was relatively short lived because in 2018 pacific Star Network decided to divest itself of Morrison Media in place of two strategic investments to align with their “whole of sport” agenda. These two investments were the acquisition of the AFL publishing business and a 25% shareholding in Melbourne United Basketball Club.

I’m sure we are all familiar with Mr. Turner’s readings where he mentions how about half of listed company CEO’s have an accounting background. Well Pacific Star Network is part of the half that does not. While the Chairman Craig Coleman has an extensive history in the finance industry, the CEO & Managing director is Craig Hutchison. Mr. Hutchison has an extensive history in journalism, particularly in sports media. For those who watch the AFL and AFL related TV shows Mr. Hutchison would be recognised as a co-host for Footy Classified and also from providing AFL news on the Footy Show.

Pacific Star Network is currently listed on the Australian Stock Exchange (ASX) under the code PNW. Pacific Star Network is currently listed at $0.360 per share as at the end of trade 18/03/2019. Some further research on the Commsec website shows Pacific Star Network to be showing signs of a bullish trend, which essentially means it is increasing or potentially going to increase in value.  It is further stated on the Commsec website that the quantitative Morningstar rating has Pacific Star Network undervalued at $0.360 and suggests that a fair value is $0.390.

Now without going to deep into the financials side of things, one thing I wanted to mention was that in 2017/18, Pacific Star Network paid total dividends of $1172. What does this mean? Is this good or bad? The reason I mentioned this because dividends are paid to investors as a percentage of the profits. To me this means that if the dividends paid are a small amount then perhaps the profits are reflected that way as well.  At first glance I wouldn’t have thought that $1172 would be a lot. I don’t know why, its just my initial reaction but then again, I haven’t looked to deep into the financials yet. 

Ill leave it at that for now and sign off in the only sports related manner that I know.

GO TIGES!!!!!

Assignment #1 part 1

Hey all,

I have copy and pasted my reflections on the introduction and chapter 1. Feel free to have a read and leave feedback if you want to.

Assignment #1 

Daniel Muir

CQ University

Step 1: Introduction and Chapter 1 reflection

When I decided to begin my journey into accounting I knew what my end goal was and how I was going to get there and I knew I was going to learn a lot of new things along the way. My first thought when I saw that there was no textbook for this subject but more so a study guide to help me through this course I was somewhat relieved only to realise that the study guide comprised of multiple chapters of text to read. Now this didn’t bother me at all especially after seeing that Mr. Turner was the author of these pieces of text. I felt somewhat comforted knowing that the text I was going to read was written by my instructor. 

The introduction was a simple no mess, no fuss, briefing into what I can expect from this course. It was easy to read and left little, if anything, to be confused about. 

I wasn’t surprised at the differences between those that do well and those that do not. It seems obvious that if you put in the required effort and then some you will do well in the course. I feel, however, that this fact may be less obvious to some otherwise why would it be in there? Maybe to assist with motivation or for first time studiers? Whatever the reasons, they are good points to take note of.

How we learn is an interesting topic. From my experience most courses include some form of written assessment and generally an exam in which you have to regurgitate information that you have written on a cue card and read over and over again until you know it verbatim but never actually understand what it is you have learned. In all my years of going to school, my previous university studies and even in my job where I am constantly doing training and learning new things, I never actually thought about “what learning is”. It seems it was always just something that I accepted was happening when I was studying or training. I found this topic the most interesting out of the introduction. It really did make me think about learning and even gave me some extra motivation to learn.

The emphasis on communication and how integral it is to do well in this course was apparent. As the saying goes, two heads are better than one. However in this case it’s more like a couple of hundred heads. We are all in the same boat. Some more confident that other and some less. So when Mr. Turner talks about how important communication is and how we must talk to others to get the best out of ourselves we’d be silly not to listen. 

To begin with, I wasn’t sure exactly what accounting was. To me, when I thought about an accountant or accounting my mind immediately went to the idea of doing tax. You know, those people that sit in those little booths in shopping centres at tax time. Now I didn’t actually think that’s all there was too it but I now realise that even after reading the small amount I have into the subject that I have been blind or maybe more so ignorant to the complexity of accounting.

As a person who has not generally been a business minded person, I found the first couple of pages of chapter one to be quite interesting. I am enjoying reading and learning about the role accounting plays within the business industry.

On page three, the section titled “Businesses are everywhere” for me was perhaps a little drawn out. I think the point Mr. Turner was making in that there are many different types of business out there, some big, some small however they all utilise accounting in some form or another, is a great and valid point however reading three paragraphs just listing local businesses was a little bit tedious. 

In the “Types of businesses” section, I was familiar with some of the terms used so I felt a bit more comfortable reading through it. I am reading through the chapter finding myself understanding the content more than I thought I would so for me that is very encouraging. 

The confidence and learning section was a great little mid-read motivation booster. I have to admit after sitting in front of my computer for about 2 hours reading, thinking, reading, writing, thinking and reading again I was beginning to feel like I needed to step away for the day. The unfortunate thing is being on night shift for the weekend limits my time a little bit so I wanted to get as much done as I could before it was time for a sleep. So reading that little section helped push me through.

Chapter one was what I expected. I enjoyed reading the majority of it as it helped me realise that I am at least familiar with some of the terms used in accounting. It also taught me some new things (which I’m sure was the aim of the game to begin with) but did not overwhelm me with information. What I read I seemed to understand ok and I’m sure my ability to understand the content will increase over the duration of the course. 

Overall I found the content to be interesting, informative and relevant. Before completing the readings I was excited to be doing this course. Following the first two readings I am still excited and look forward to reading and understanding more of Mr. Turner’s readings.