Monthly Archives: April 2020

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20200429a- WEEK 4- Financial Management, Financial Accounting and Syndicate Work

It is week 4 of term 2 and we continue doing our studies online for the part time MBA at Melbourne Business School.

Financial Management we have been looking at Capital Budgeting Decisions for viability of projects. In doing this we have looked at Net Present Value, Internal Rates of Return and the Payback methods. We have also been assigned our Syndicate groups and our syndicate has already begun to reach out communicate with each other on this and start to assign work on the assignment. Our lecturer has also posted a vide for us to watch as to the current economic conditions and things to watch out for. The current economic conditions are proving to be very relevant to our studies in Financial Management.

Financial Accounting we continue to look at accounting theory for recognition of assets and expenses, liabilities as well as the types of accounting adjustments that are used. This subject also has a Syndicate assignment and our syndicate have been quick to connect to begin looking at the assignment.

With this being my third term in the Melbourne Business School Part Time MBA, I have come to notice certain things about working in Syndicate groups.

  • Firstly, you are working as part of a team which is not always something all of your syndicate members are used to. From doing Managing People you do need to know yourself before youn can then use this to understand your other syndicate colleagues.
  • Second, you may notice some people who like to take the lead on the assignment. Again, from Managing People it is just as important for a leader to know how to be a follower then it is to just being a leader.
  • Third, time management is critical as we only have so many hours in the day. We all have work, study and personal commitments that we need to prioritise at different times. It is important to manage these and to communicate this with your fellow syndicate colleagues.
  • Being in 2 syndicate groups also means negotiating your available time between the groups and work as well as in addition to your existing study load

For work I can now disclose I have been working on a report on the impact of the current economic conditions on Victorian Aboriginal and Torres Strait Islander businesses. I provided this to Kinaway’s management for us to use to understand the needs and how best to service our members.

MyMBAjourney@MBS, Videos

20200424a- Interview with David Potter

I interview David Potter, a fellow student at the Melbourne Business School undertaking the part time MBA. David has always lived in Melbourne. He and his family have always had a love for the outdoors, traveling and being active.

David went on to do a Science Degree at University of Melbourne and later Monash University. But his passion for Lifesaving led him from volunteering as a little nipper through to being the club captain, trainer and chief instructor, that included sitting on the committee.

David’s love for the organisation led him to go on and work for Life Saving Victoria where he works with volunteers and manages project’s. It was from his friend’s and peers he considered doing an MBA. It was a manager in Surf Lifesaving that pushed him to broaden and grow his professional skill sets by doing an MBA.

David chose to do the part time MBA at Melbourne Business School as it was a full face program that suited David’s choice of learning, to interact and draw on the experience of both the faculty and fellow students at Melbourne Business School.

Being in isolation and working from home, David confesses he may have went on a little shopping spree. His most valued purchase was the essential work from home coffee machine.

MyMBAjourney@MBS, Uncategorized, Videos

20200422a- Week 3 Financial Accounting, Financial Management and Critical Role

I am half way through Week 3 for Term 2 and things are progressing well. This is a quick recap of what we covered for the subjects I am doing this term. For Financial Management we have started looking at equity valuations or stock valuations. This incluces preference shares and ordinary shares. We have looked at several valuation mdoels including Discounted Cash Flow Models with the Gordon Growth Model, the Two Stage Model and the Price Earnings or P/E Ratio model.

Financial Accounting we have started to look at the accounting theory which is bringing up memories of studying at university and for part of the CA Program. We are first looking at Revenue Recognition. While it may seem straight forward, it isn’t! You have to consider the accounting recognition of when you recognise the revenue and how much you recognise. Some examples we have looked at are the sale of a new car with accessories and warranty and the sale of a mobile phone with apps and service updates.

For work and play I have finished my reporting and now back to calling and talking to our members at Kinaway. For me in my personal down time I have been caught into watching snippets of Critical Role, a show that involves adults playing a game of Dungeons and Dragons. Matthew Mercer is an excellent Game Master/story teller/narrator of the players conquest as a voice actor. The only thing is the episodes go for 4 hours so I have been jumping in and out of the episodes during work and study breaks.

Finally I hope to be bringing you another interview shortly with a a fellow MBA student at the Melbourne Business School.

MyMBAjourney@MBS, Videos

20200418a – Week 2 Financial Accounting, Financial Management and My Home Office

It’s Week 2 and I am settling into studying online. Financial Management we have continued to look at the financial mathematics of the subject. We discussed the risks of bonds such as interest rate risk and time or default risk. I do need to increase my study in this subject as I’m finding I am only doing okay in the questions, so need to do more work then I have.

Financial Accounting has been on ‘T’ Accounts, balance sheet reconciliations and the construction of the cashflow statement from this. The tricks to this section are putting the transactions on the correct side of the ‘T’ account as well as the calculation of the Property, Plant & Equipment (PP&E), Accumulated Depreciation, and Gain/Loss on Sale of PP&E. I am putting a lot more time into this subject then Financial Management as it does require more preparation work for classes.

Work this week has involved more preparation of reporting then phone calls. My home office has been improved with my work being able to secure a sit stand desk for me. This has been supplied by a Kinaway member who has pivoted into a new business. Dreamtime Art has now established a new business venture, ‘Dreamtime Office‘. I also show off my mug designed by Ngarga Warendj or Dancing Wombat, as well as becoming more house proud I purchased a hand painted plate from BNYM Indigenous Designs.

My home office now comprises of

  • Sit Stand Desk
  • Office Chair
  • Laptop
  • Laptop platform/riser
  • Headset with audio and microphone
  • Second Monitor
  • Wireless mouse and keyboard
  • Powerbaord and multi function power adaptor
  • Whiteboard
  • Rechargeable batteries and charger.
MyMBAjourney@MBS, Videos

20200413a- Week 1 Financial Management and Financial Accounting

Week 1 of Term 2 has been completed with my first experience of doing a course online with e-learning. I am surprised that I am enjoying the online learning delivery method.

Both Financial Management and Financial Accounting involve Tutorial Assisted Sessions on Saturday morning and early afternoon.

Financial Accounting was set up as an online learning module prior to COVID19 so it is very well set up. Financial Accounting does involve a lot of preparation for class work so having an early start to the work puts you ahead. I am finding that even though I have an accounting background and did accounting at university, I am learning the updated terminology and the new financial statements that were not around.

Financial Management also requires pre class work and pre work for the tutorial sessions. I did make the mistake of not preparing completely for the Financial Management as we also had to complete Week 2 questions sets for the week 1 Tutuorial Session.

COVID19 is still with us and I had a hair cut at a nearby barber in the Melbourne CBD. As a small business owner he now only opens 2 days a week and on one day he only had two customers come into the shop. While COVID19 is having a health effect on the world, it is also having a wealth impact on the world. This makes learning subjects like Financial Management interesting in these current economic conditions.

MyMBAjourney@MBS, Videos

20200407a – Class 1 Financial Accounting and E-Learning Tips

Tonight was my first class for Financial Accounting. While I have an accounting background, this subject still has areas of revision and learning for my professional development. This first class went through the different financial statements you will find a major listed company will report on.

This includes the Balance Sheet, Profit and Loss or Comprehensive Income Statement, Cashflow Statement and Statement of Shareholders Equity. It also went through the various elements of these statements as current and non current asseets, current and non current liabilities and owners or shareholders equity. Assets equals Liabiliities plus Owners Equity.

I have also provided some tips on e-learning as work from home.

  1. Zoom- Set a virtual background
  2. Separate room and a ‘Do Not DIsturb’ sign
  3. Headset with microphone
  4. An alternate wifi as a mobile with hotspot for backup.
  5. Two separate screens.

MyMBAjourney@MBS, Videos

20200406a- Term 2 e-Learning COVID19

It’s the start of Term 2 2020 and my two subjects for this term are Financial Management and Financial Accounting. Having my background in accounting I am feeling confident, though it has been some years since I studied the subjects at uni and I have predominantly worked with small and micro business since that time. It is has been a while since my last post and a lot has happened. First I passed my two subjects for Term 4 2019 being Data Analysis and Managing People which I am incredibly pleased with. I then had the End of Year break before returning back.

In term 1 I only did one subject being Marketing. I found this to be an incredibly practical and applicable subject for applying to my work and in business. For this reason I loved the subject. I have yet to find out my results for it though. I only did the one subject as I was travelling for work in regional Victoria and the subject was on a Monday night, allowing me to travel Tuesday through to Friday aweay from Melbourne.

But 3 weeks ago there were restrictions around travel and groups of people gathering with COVID19. As a result I was told to work from home and Melbourne Business School has closed. We had our Term 1 exams online and I have been working and studying at home for the last three weeks.

Now in Term 2 this is a new experience for me of using online or e-learning. One of the main reasons I relocated to Melbourne was to gain the advantage of the network of the stucent cohort that study at MBS. Now, like many workplaces, we are having to adapt and be innovative on how we remote work. So this will be something new for me to learn and adjust to.