Onward and upward

The end of week 12 and I’m happy to say I’m now done with ACCT11059 and the final assignment of this unit is submitted.  There really are only so many times you can read and polish a document.  If you want to see the final submission it is here. ASS#2 Step 7 to 10 Paul Feasey GALLIFORDTRY Company Spreadsheet FEASEY

Thank you to those who gave me feedback, your eagle eyes in spotting bits I missed was most welcome.

It’s been an interesting 12 weeks in my return to Uni as a mature student and I have thoroughly enjoyed myself.  With this final accounting blog for this particular unit I thought I’d put down some of the things I’ve learnt about learning and about myself during this time.

When I first saw I had a UK construction company to focus on I was “meh” and not overly enthused about the prospect.  I would have put in the same amount of work and research into any company, but on reflection I actually think that GallifordTry was to my advantage.  Only a couple of years ago I’d been living back in the UK for 18 months and was well aware of the state of the UK, price of housing, the political situation and various other impacts in that once great nation.  This did make understanding the financials and the company operating climate easy to understand and research.  I’m calling that a win, I was able to learn the process of accounting, ratios etc, and relate that to an environment I understood.

KCQ’s and the study guide. I’m still not convinced about KCQ’s, though I appear to be reasonably proficient at them.  I’ve enjoyed the study guide, though I do wish Martin would get to the point sooner and I did pine for a text book on occasion.  Saying that I have been fortunate to have had two very constructive conversations with him recently and I can understand where he’s coming from and the intent of the process.  I really appreciated his insights and support from these conversations.  With regard to the unit, I can say though, that it did work, I have learned and my learning style has been challenged.  So, thank you Martin.

This blog, I already write a blog for fun, I wasn’t certain how much value this one would have.  Well I’ve enjoyed writing it and 65 other people, including people outside of the unit, are looking at it.  I’m going to assume that it’s adding value to them as well.

dilbert blog

I’ve provided support (far too much according to my wife) and helped a lot of people through Facebook and through checking over spreadsheets and calculations.  While this has been very time consuming, what it has done is secured my knowledge of the subject, so it is a win for me.  Even though I tell my wife I’ll do less in the future I’ll still help where I can, just remember to say thank you.  Through the Facebook group I’ve met some wonderful people and got some solid friendships out of it.  That’s what uni is also all about.

PASS!  How good are PASS sessions, I really enjoyed all of them, shared a lot and gained a lot as well.  Danielle is a most excellent facilitator and will no doubt end up with a high distinction when she finishes her degree and will go far in her chosen field.  I am most grateful for her support in these sessions.

When I started out with this unit I was concerned about the time required to get everything complete and manage life, the universe and everything. I am unbelievably grateful to the support of my wife and children who have given me the space to get stuff done.  Though by the children leaving me alone I’m not onto them to do their chores or their gym work between their swimming training sessions.  A cunning plan on their part.

The final thing and probably the most important thing I have learned and it’s what I shouldn’t have had to learn (and its not in relation to this unit either) is this.  I should never, ever doubt my wife!

A true story.  A week out from the due date for Laws11030, 40% assignment, I thought I’d done a really good job, I gave it a quick read and thought it was good to go.  I asked Mrs F to take a look.  She didn’t make it past the first paragraph, before telling me how bad it was!  She was asking all sorts of questions, what’s the word count, what references are you using?  I was horrified, I thought it was brilliant, how dare she!  I know she’s a teacher who did her second degree by distance, but really!  Long story short I got a bit cross.  Fortunately for me, as we met at Uni in 1991, Mrs F has known me for a very long time and knows that while I am an idiot, I am not totally stupid and I will see sense. And sense I did see, I listened and learned, edited and re-edited and polished that turd before hitting the submit button.

Thanks to my wonderful wife I received 37/40, 92.5%! This type of result is unheard of, I’ve never got grades like that before and I couldn’t have done that without her.  It really makes me wonder, not only what she sees in me and why she puts up with it, but what I would’ve got in my first degree if I’d spent less time in the pub and listened to her more then.

Moral of the story, listen to your wife, she knows more than you do, especially when she’s a teacher!

This term isn’t quite over as I’ve the Law11030 exam on the 19th.  I originally had it as the 17th so I’m glad I checked again.  It’s an open book so I’ve a bit over a week to get all my notes ready for the day.  Thanks again to Danielle for the insight to preparing for my first open book in 15 years.

In honor of Law here’s this blogs musical interlude, Anthrax singing about one of the iconic comic book characters of the 20th Century Judge Dredd.  Unfortunately the video has footage from the 1995 film staring Sylvester Stallone, not the best interpretation. The 2012 Judge Dredd staring Karl Urban is so much better.

So that’s what I’ve learned so far.  Once the exam is done its onward and upward with the next two units, whatever they may be as I haven’t decided.  For those of you who’ve stayed with me this far, I’m going to continue this blog and my running blog and see where it all goes.

Happy Studies folks.

 

This is the end….?

Or maybe it isn’t? Actually it’s not all quite done, my write up on Step 9 has run out of steam, so what we have here is a first cut.

Really if it’s the end or not is all going to depend on what feedback I get and if someone spots something odd that needs fixing.

If you, dear reader, would care to participate in the Step 10 feedback process you can find all the details below.  And while you are reading please enjoy this musical masterpiece from The Doors.

GALLIFORDTRY Company Spreadsheet FEASEY

ASS#2 Step 7 Contribution Margin

ASS# Step 8 What I know about ratios

ASS# 2 Step 9 Capital Investment Decisions not quite finished.  Suggestions welcome.

dilbert-show-me-the-monies

 

One more thing

The end of week 10, not long to go until the end of the first term as a mature student.  The weekend started well with a 10k run and wearing a yellow tutu while doing barcode scanning at parkrun.

This has been an interesting unit.  I’ve learned a few new things over recent weeks, had a few things I already knew confirmed and sharpened up and made some new friends as well, an unexpected and welcome bonus.

I’m on track for a good finish to this unit and want to get it out of the way so I can prepare for the Law exam.  I’m up to date with submissions and have Steps 7 & 8 complete.  Step 7 Contribution Margins can be found here ASS#2 Step 7 Contribution Margin

Yet there is always one more thing to do.  Which reminded me of a song that I played a lot during my original student days in the ’90’s.  L7 for those unaware are a female punk/grunge group from Los Angeles and this is from their 3rd (and best in my opinion) album Bricks are Heavy

That one more thing is Step 9 NPV and IRR.  To be honest this is irritating me.  I understand what the expected outcome is and how to get there by calculation.  What I’m supposed to put in the calculation from the initial investment and expected cashflow is a mystery at the moment.  I’d rather not have to take a wild guess if I can avoid it.  I have had a go this morning and used information from the 2018 report and a bit of research.  You can find it on the NPV tab in the spreadsheet if you want to take a look. GALLIFORDTRY Company Spreadsheet FEASEY

The calculation is correct, but is it accurate or relevant?  At this stage I’ve no idea.  So I’m putting the brakes on and doing something else.  I’m going to save the question for the next PASS session and see if that gains me some insight.

dilbert NPV

Ratio’s restrung

Apart from having to vote in quite possibly the worst general election I have ever experienced, and I’ve seen elections in West Africa and the build up to Brexit, so I speak from experience, I’ve had a pretty good weekend.  I ran 10K in the dark on Friday night and 6K before the sun came up before parkrun on Saturday morning.

Running at night is one of my favorite activities.  There’s no one around and the environment is completely different to the day.  Most excellent!

Saturday was spent recovering from running and politics to allow Sunday to be a head down bum up study day.

Which brings me to this blogs loosely connected song, Hilltop Hoods The Hard Road Restrung. A great song, made even better by the Adelaide Symphony Orchestra.

Why is this loosely connected?  I’ve already put up my ratios on this blog, knowing there were some errors and knowing it needed some additional focus and Natasha Bennett was kind enough to have a look and provide some comments which is appreciated.  Today as well as writing about chapter 8 (see the previous blog post), the ratio’s have been restrung and the word document written to explain my workings and thoughts.

The restrung ratios can be found here GALLIFORDTRY Company Spreadsheet FEASEY and the document containing all I ever wanted to know about ratios but was afraid to ask can be found here ASS# Step 7 What I know about ratios

dilbert work ratio

 

Romping through ratios

I don’t have problems getting to sleep at night but I do find my focus on this unit making me neglect sleep.  Today’s loosely related tune is the classic Insomnia by Faithless. Amazing lyrics by Maxi Jazz

ACCT11059 the only place where a 90 minute Youtube video takes multiple attempts and a 2 hour final push to watch to completion.

I’d watched the first 30 minutes of the ratio’s video and noted down the important aspects.  Last night I casually said to my wife, “I’ve only got an hour to do, then we’ll put on Netflix”.  Once again ACCT11059 as called me out as a liar.  Nearly 3 hours later, I gently woke my sleeping wife from the sofa and called it a day.  My sleepy wife called me something else! I hadn’t realized the time as I was task focused and enjoying myself

Ratios themselves are straightforward and I’d done half of the sheet without Maria’s tutorial, though I had a few odd figures and wasn’t sure on some.  I did not know I had inventory initially and didn’t know how to factor in sales, so the video was spot on for that.

To be absolutely certain I was using the right process I  watched, stopped, and replayed the video multiple times, while writing more notes and checking figures before I declared the ratios done but not complete. Not every line is as clear in it’s outcome as I would like and needs some more consideration, but it’s done so far.

I did find a excellent investment site that details practically all if the ratios, which allowed me to compare my figures with reality.  There are some figures in my sheet that I think are anomalies,the calculations seem to be correct, the numbers I want to think over some more.  Calculated values that I’m certain of are highlighted in green, the ones that I need to give more thought to are highlighted in yellow.  I know there are a few others in the group with building and construction firms, and I would be very interested to see how we compare.

If you want to take a look the spreadsheet it is here GALLIFORDTRY Company Spreadsheet FEASEY

Happy studies!

Dilber ratio

 

 

Feedback’s back alright!

Feedback, it’s the gift that keeps giving.  Another assignment another set of feedback.  And the Backstreet Boys, because why not?

To round off this bit of the unit at the start of week 8 I present you with my reflections on the restating process, ASS#2 Reflections on Step 3

This document explains my thought processes in restating my financial sheets.  Which I did quiet enjoy.  In case you missed it the financials can be found here, GALLIFORDTRY Company Spreadsheet FEASEY

The next item on the agenda is what I think of the feedback process in general and the feedback I have given and received along the way.  This can be found here ASS#2 Peer Feedback Step 4 Consolidated Feedback Sheets  Thank you to those who’ve taken the time to help me out and interact.

Oh, one more thing.  When it comes to feedback, don’t be this guy.

dilbert feedback

Happy studies.

BTW – the last word.  If you read this and enjoy it, just hit the like button, that way I know I’m not talking to myself.  If you don’t like it, leave a comment as to why, maybe I’ll do something different next time, maybe I won’t.  Leave a comment and we’ll find out together.

It all adds up, except when it doesn’t

I have spent an entire evening on my spreadsheet.  I’ve watched the videos, more than once.  I’ve read the chapter, many times.  I’ve looked over Martins examples.

I’ve identified my O’s and F’s.  I’ve put all the numbers into all the spreadsheets.  I’ve done the checks to ensure that the component parts correspond correctly to the source data.  Shouldn’t be a problem.   But it is a problem!

The NFA + Equity calculation doesn’t match the NOA!  and The total comprehensive income for the year is out as well.

I don’t know why!  It all adds up, until it doesn’t and I can’t work it out.  I think it’s a calculation error as I’ve a lot of negative numbers in the sheet.  I can get it to work, though I’m not entirely sure if I’m going about it the right way.  It’s quite possibly a silly error that I’ve overlooked from staring at it for too long.  I would like to find it though.

If anyone would care to take a look and guide me in amending the error I’d really appreciate it.

GALLIFORDTRY Company Spreadsheet FEASEY

From desperation comes motivation

In chapter 1 of the study guide Martin makes it really clear that in order to succeed in this course you need to be spending 12.5 hours a week on the subject.  I think I have spent more than that just trying to untangle Chapter 4 and that’s before I start on the restated financial statements.

In the study guides I don’t mind a bit of trivia now and again.  I do have a passing knowledge of Machiavelli and GK Chesterton, but I’m not going to search out Euclid.  To be honest in this chapter these nuggets I didn’t find at all helpful.

A lot of the concepts in Chapter 4 I’m familiar with through experience, having them interwoven with kinder eggs and Ryman Healthcare didn’t help me much.  Especially when trying to work out how to play with my spreadsheet.

What I wanted was details of the mechanical process for the spreadsheet, what I got was somewhat different.  As I may have mentioned before, if it was easy everyone would do it.  So I’ll read the chapter again and watch the video and see how we go.

I’ve got a Law assignment on the go as well and wanted to get at least something on ASS#2 out so I can concentrate on that.  So as the title says from desperation comes motivation.  What I have attached is probably version 5 of a first draft.

I’m not happy with it.  I’m sure it’s rambling, simplistic and misses a hundred points.  Take a look, rip it up and tell me where you think I’ve gone wrong.  It’ll be a feedback gift I’ll appreciate.  I’ll what Studiosity has to say about it as well.

The output of my desperation can be found here. Paul Feasey ASS#2 Step 1

On a more positive note and speaking of motivation.  It was a great parkrun this morning with two colleagues from work joining me.  Dan worked for me when I was in operations and Kasey is our project accountant.   I run with Kasey twice a week and have been encouraging her to get faster, usually by not telling her the pace we’re running at and she’s come a long way since starting regular running in January.

I am really pleased to say that this method of motivation and support has paid off and she ran her fastest 5k at 26:25.  Something to celebrate (unlike my draft 😦 )

parkrun-13-04-19.jpg

Happy studies folks.

Between the sheets…..

Who knew a company annual report could be so much fun?  Not I that’s for sure.

After much writing, editing, internet searches and scribbles I hereby declare my draft of ASS#1 Steps 2 through to 6 ready for reading.  May god have mercy on your souls.

To be honest I feel it’s a bit of an epic at 13 pages and I apologize in advance to any of you brave souls who want to have a look and give me some feedback.

I suggest you get a warm (or cold, not judging) beverage of your choice, a comfy chair and get settled before attempting to read it.

The spreadsheet is also embedded in the document.  This I found harder than I should’ve done.  Mainly as I only printed the financial reports from the 2018 report and had to hand write on all the earlier numbers, which was a bit of a nuisance.  The other bit that slowed me down was watching the tutorial video.  This could do with some editing as I found myself pausing it, adding some bits to my sheet, then having to wait for the next bit of guidance to be reveled.

I did draw some parallels though in the fact that I’m sure my children at that age would not have been happily gurgling in the background.  May be that was the clever editing?

What I haven’t done is chosen my top 3 blogs.  I’ve put my contenders in the draft, it’s still an open race and of course I am open to bribes.   As for feedback I’ve provided bits and pieces to people on their blogs and stuff, I’ll start on the drafts tomorrow.

Enough of my ramblings and let’s skip to the good bit.

Ass#1 Steps 3 to 6 Draft is here Paul Feasey ASS# 1 Steps 2 – 6 and in case the embedded spreadsheet does not work the company spreadsheet is here GALLIFORDTRY Company Spreadsheet FEASEY

Happy Studies!