The stages of a business plan development

The stages of a business plan development This document is inclined to clearly stipulate and evaluate what I have contributed to the aim in taking place a realistically thought out business plan and what my intent and my involvement toward my fellow group members was. I am going to describe my own role in helping the team to achieve its goal in creation of the successful business plan. Also I will provide evidence of my contribution to the cohesiveness of the team and how I facilitated the completion of the team goals. My team includes Miss Stacey Coetzee, and Mr. Thokozani Nkambule. We three are good friends and we believe that running a business takes a lot of hard work and strong commitment. With that in mind, this is the individual reflective report of how the business plan for Coffi Bean came about, and how I have contributed toward it. Team Work A team is a group of people who work together on the same task. According to Dawson and Andriopoulos (2009), team formation and social dynamics go though five stages, called forming, storming, norming, performing, and adjourning. Forming This is the initial stage of putting the team together where individuals learn about each other and the team requirements as well as the challenges, expectations, and the overall structure of the team (Dawson Andriopoulos 2009 p:141).   This is also the information gathering and exploratory stage.   Anyone who has ever been put into a team or has been asked to form one will most definitely familiar with this phase and should be able to relate to it. Storming This is probably the noisier phase during which the members of the team all have their own ideas and directions that they want to go in (Dawson Andriopoulos 2009 p:141).   Oftentimes team members debate, critique, and confront each other to decide on the best course of action.   Im sure my group members can attest to the fact that we have definitely gone through our storming phase (or a few of them!).   This phase can be a bit uncomfortable and/or unpleasant but its still quite necessary for the growth and development of the team. Norming This is the phase where the team really starts to function and work together as a team.   Individuals start to understand each others work habits and ethic and everything seems much more natural.   Responsibility and roles are much more clearly defined, expectations are set, and collaboration is in full swing (Dawson Andriopoulos 2009 p:141).   Performing Not all teams reach this phase but those that do are the high-performing teams which have grown to become both knowledgeable and efficient at what they do.   Supervision goes down as individuals are now capable of making appropriate decisions.   This is essentially where the team really starts shining and delivering superior results (Dawson Andriopoulos 2009 p:141). Adjourning This phase refers to the team breaking up after the task has been completed (Dawson Andriopoulos 2009 p:141).   Most groups in all different types of settings will go through most of the stages over the course of a team forming process. When the lecturer first asked us to divide ourselves into groups in which we would have to develop a business plan, our group remained in the forming stage for quite a while.   It took us many days and many meetings to figure out what we were doing and make up a team.   We were four persons in the group but one of the members eliminated themselves for apparent reasons. In order to perform, I had to get persons which were somewhat more knowledgeable in certain aspects of business then I am, and unfortunately but gratefully everyone already had chosen people so the people that were left just decided to combine. Each member had or rather felt that they could specialize better in a field which they were more equipped in, and by this each member was automatically assigned to a specific part in the business plan. I was initially responsible for operations plan and the industry overview as I felt more fitted in this aspect of business, and as I always consider what people need and how t hings should be done. Stacey was assigned to concentrate on the marketing aspect, whilst Thokozani was granted doing the financial section and the position acquisition, because of his excellent capability in accounting field. We each typed out our own sections, as we felt we should all be present for explanation on the others disclosure and for approval reasons. Although the forming stage did take a while, we were able to cover most of the norming stage at the same time because we started knowing each other quite well.   Once we finally formed our team, the rest of the stages went much easier.   We were able to finish up the norming and began performing rather quickly.   Our group performed quite well together and spent very little time, if any, in the storming stage. We are currently finishing up the adjourning stage right now until the completion of our individual reflective reports. Process of the Initiation Firstly I came up with the idea of a coffee shop as my mother is always argumentative about how she likes her coffee and what she enjoys most about it. This was my sole inspiration, aside from the idea of a sports bar which I thought was a bit far-fetched as it required a lot of attention and reliable people. Each group member came up with an idea and we evaluated each, but our main focus was to concentrate on service, evidently we had to choose from an internet cafà ©, the sports bar, a mountain bike shop and the coffee shop, one member had suggested a casino and a clothing shop, we had brainstormed all these ideas and the next time we met we all gave our opinions on which would be more realistic and we decided on the coffee shop, we agreed upon the name Coffi-Bean which we felt is just a little bean about to erupt, solely because of its potential to grow extensively and because we had agreed on a slightly newly urbanized area Southdowns. Industry and Competitive Analysis I was responsible for the operations plan of the team and the analysis of Porters five forces. I was involved in decision making, providing ideas and opinions, running the sessions and the analyzing of Porters five forces. I motivated team members and myself to reach goals, and did planning before moving on to next parts of the business plan. Even though, this business plan was very hard and required a lot of work and was very time-consuming, our team worked very well together which made it easier. Incorrect decisions can waste investment funding and delay time to market, or worse, create corporate chaos that affects the very foundation of the firms financial stability (Drummond, Ensor Ashford 2008, p: 140). Thats why Stacey uncovered a market gap in the newly established location where the supply was smaller than demand. Relating to our business, gap analysis can be defined as an approach to identifying the unmet needs of consumers, in which respondents are asked to envisage the ideal coffee shop and then to rate various coffee shops on key attributes; if no existing coffee shop measures up to the ideal, a gap exists which could be filled by a coffee shop (Drummond, Ensor Ashford 2008, p: 146). Through detailed research of local and national market demand curves, we identified market gap opportunities that aligned with our strategic and tactical business growth objectives. The gap in the market was identified after Stacey brought to our attention that the coffee and restaura nt industry was booming at that present time, and that there was a demand for small cozy places that were not forming a part of the large generic chains. She also convinced us that the coffee business in general does not show signs of slowing down. And because of the new innovations such as flavorings and additives, the business would be viable and it should continue for some time. Looking back at our business plan, I still believe that we have chosen the right industry to be in because; at present, time is right for opening a coffee house. I did some research and found out that Coffee houses were having a great deal of success, which was and still is evidenced by the full houses every day of the week. And because Southdowns is a new area in Centurion it had no such places yet. A competitive analysis is a critical part of any business plans marketing plan. With this evaluation, we can establish what makes a product or service unique, and therefore what characteristic your business plays up in order to attract the target market (Hitt, Ireland, Hoskisson 2009, p:58). Competitive analysis can be defined as identifying the competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own coffee shop (Hitt, Ireland, Hoskisson 2009, p:58). Looking back at the business plan, I have pin-pointed accurate key competitors. The biggest competition there was, was MuggBean located all the way in Centurion Mall. And a customer from our area had to drive 10 to 20 minutes, in order to reach that coffee house. The majorities of these establishments were and are located on the central side of town. And only a few were beginning to open in the newly established area. Presentation Experience A professional and well-written business plan is the foundation towards the growth and success of a business. However a good and high quality business plan presentation is an essential for companies seeking for funds. A business plan presentation is usually a type of lecture, given by an individual or group, on a specific work-related topic (Scarborough, Douglas Zimmerer 2009, p:217). The ideas presented should include industry research and plan outcomes, such as a new advertisement for a product designed to increase profits (Scarborough, Douglas Zimmerer 2009, p:217). The success of a business plan often depends not only on its contents, but also the quality of the presentation itself (Scarborough, Douglas Zimmerer 2009, p:217). Presenting the business plan was a frightening task. While I have no problem speaking in front of large group of people on just about any topic, opening our business plan and individual thoughts for criticism was very nerve wracking. I felt like the panel was looking at me like a deer caught in headlights. Straight after the presentation I felt uneasy and uncomfortable that maybe the panel hated the presentation and that they would say, oh, dont get him to speak again- he was boring! But after I have received the groups feedback, I realized where our problems were. I as well as my team members were reading too much from the slides and at the same time failed to include many of the important aspects of the business plan into our presentation. That said, I have learned that for all my future presentations I will be more clear about my objective, I will understand my audience, I will focus on the content and not the add-ons, I will get the audience to relate to the content and to always try and convey my point without reading from the slides. Alternative Scenario Looking back, I think our predictions for return on our investment and for future growth were just about right. We did take into account the losses that might occur despite this we kept in mind what we had learned that risk taking is all about business and thats what makes a success. Our chosen business was designed so that it could evolve with changing time, we focused on flexibility and constancy as our mere attraction was to seek loyalty in our market. We had researched coffee houses and concluded that they are viable; as people are becoming more demanding in our time on relaxation and a comfortable atmosphere, by identifying this we perceived that it is an ideal business opportunity. Although competition might be tight, we concentrated more on the fact that their arent any coffee houses in that specific shopping centre which also attracted us to that location and because Stacey is so keen on entertaining there arent any entertainment shops which we felt was a competitive edge the coffee house would have and although there is no cover charge for all entertainment events, Thokozani felt this was a good way to obtain funds on adding these extras. We might have disregarded our advertising costs a little, as we initially didnt want to spend a lot on our first opening as we were uncertain of the outcome, but most certainly the potential of the coffee shop is considerably a good opportunity. Even though I think that our business plan was just about right in order to achieve our growth objectives, there are still few points or alternative additions that I would have preferred to be included in it. No two business plans are alike, a business plan for one coffee shop say a casual, fast-food establishment will be much different than that for another coffee shop such as a formal sit-down place. Therefore it is the unique aspects of a restaurant that help to give it a competitive advantage. First, the business plan should have had the section that carefully explained food and beverage production. Where will food be prepared? What safety procedures would be implemented to protect employees and customers from the dangers of food poisoning? In preparing certain menu items (dishes), how will consistency be maintained (i.e. computerized recipe file, use of requisition forms, etc.)? Secondly, when Thokozani prepared the sales projections for our business plan, he should have take n into consideration the estimated number of meals and/or drinks that would be served daily/weekly/monthly, as well the average daily seat turnover and the average check. Usefulness of the Business Plan The business plans usefulness is not limited to helping the entrepreneurs raise funds to support the opening of the business (Madura 2009, p:208). The business plan will be used as a guide for making business decisions throughout the life of the business. It provides a sense of direction for businesses future development (Madura 2009, p:208). The success or failure of any firm is partially dependent on its business plan. A complete business plan normally includes an assessment of the business environment, a management plan, a marketing plan and a financial plan (Madura 2009, p:208). The restaurant business is a very challenging business field to enter. When starting a new business, we as owners will have a lot of decisions to make. Creating a high-quality business plan will allow an owner to have a guide to reference as challenges arise (Fullen 2005, p:184). A restaurant without a written and well-thought-out business plan runs an extremely high risk of failure in its first year of operation (Fullen 2005, p:184). In my opinion the part of the business plan which we didnt really look into were our actions to take when and if the unforeseen competition has to enter the market, unexpected expenses has arise or if our financing opportunities has to change based on the current economic situation. If by some chance these hardships do not occur, it is easier to adjust a restaurant business plan for that than it is for dealing with situations we did not anticipate and plan for. Conclusion Overall, I really enjoyed going through all the stages of the business plan development, because I was able to apply what I learned in class to a real-world situation.   Many classes teach you a bunch of stuff but never give you the opportunity to see it for yourself.   For instance, Ive learned so much about formulation of marketing, management and financial strategies, but have never had to go through that in real life.   Other classes teach you things, but you never use it until years later, at which time you have forgotten some, if not all of it.   I was able to take what I learned each week in class and use it to help me with the business plan.   I think this quick application of the principles allows for greater development as a leader will be able to use what I have learned now and years in the future.   I can also use our group formulation and development as an example when Im in future groups and build upon the successes and learn from the failures.   This busi ness plan made a big impact on me and the rest of my group. Sources Consulted Dawson, P Andriopoulos, C 2009, Managing Change, Creativity and Innovation, Sage Publications, London, UK Drummond, G Ensor, J Ashford, R 2008, Strategic Marketing: Planning and Control, Butterworth-Heinemann Publications, Oxford Fullen, S 2005, Opening a restaurant or other food business starter kit, Atlantic Publishing, Florida Hitt, M Ireland, D Hoskisson, R 2009, Strategic management: competitiveness and globalization: concepts cases, Cengage Leraning Publications, Ohio Madura, J 2007, Introduction to Business, Cengage Learning Publications, Ohio Scarborough, N Wilson, D Zimmerer, T 2009, Effective Small Business Management, Prentice Hall, London

Caring for Women With Preeclampsia and Eclampsia Essay -- Nursing, He

When caring for a woman who is experiencing preeclampsia, there are many different things a nurse must keep in mind. Depending on whether she is experiencing antepartum preeclampsia or postpartum preeclampsia, the techniques used to care for the patient differ. When treating a woman who is currently experiencing antepartum preeclampsia, care can be provided in either a hospital environment or at the patient’s home. Due to increasing pushes in the healthcare field, more women tend to care for their preeclampsia in their own home setting. There are, however, certain ramifications that must be met in order for a woman to be able to partake in home care; she must have a blood pressure less than or equal to 150/100 mm Hg, proteinuria that measures less than 1 g/24 hours or 3+ dipstick, a normal fetal growth if not at term, no present signs of vaginal bleeding, and a platelet count greater than 120,000 mm3. The mother or mother-to-be will monitor fetal movements and should be p roperly instructed in how to complete this intervention. She should also be taught to monitor her blood pressure, weight, and urine protein daily. The woman is instructed to limit any activity and allow for plenty of resting time, lying in the left lateral recumbent position as much as possible. It is extremely important that the woman recognizes any abnormal signs and symptoms of her disease that would indicate the worsening of her condition such as an increase in weight of 1.4 kg or 3 lbs in 24 hours or 1.8 kg (4lbs) within a 3 day period. A woman with increasing signs and symptoms or a worsening of her condition will be hospitalized. If a woman’s condition has worsened, or she has severe preeclampsia upon assessment during her initial visit, she is ad... ...sure limited exposure of the patient and to provide a female care provider to carry out the postpartum BUBBLEHED assessment that is crucial for the mother who was diagnosed with preeclampsia during her pregnancy (Charles and Daroszewski, 2012). Works Cited Charles, C. E., & Beth Daroszewski, ,. (2012). Culturally Competent Nursing Care of the Muslim Patient. Issues In Mental Health Nursing, 33(1), 61-63 doi:10.3109/01612840.2011.596613 Hoedjes, M., Berks, D., Vogel, I., Franx, A., Bangma, M., Darlington, A. E., & ... Raat, H. (2011). Postpartum Depression After Mild and Severe Preeclampsia. Journal Of Women's Health (15409996), 20(10), 1535-1542. doi:10.1089/jwh.2010.2584 McCoy, S., & Baldwin, K. (2009). Pharmacotherapeutic options for the treatment of preeclampsia. American Journal Of Health-System Pharmacy, 66(4), 337-344. doi:10.2146/ajhp080104

History of Coca Cola Essay

About the Company: The first signs of the Coca-Cola Company started out in Atlanta in 1886 when a pharmacist named John Pemberton developed a caramel colored carbonated drink and sampled it to customers. Soon after, the drink was for sale at five cents a glass, selling about nine glasses a day in the local pharmacy. After Pemberton’s death in 1888, an Atlanta businessman named Asa Griggs Candler, secured the rights to Coca-Cola for a total of $2300 and it was at this time that Coca-Cola transformed from an invention into a business. Over the next several years, through coupons, advertisement, and sampling, the demand for Coca-Cola continued to grow making it necessary to open syrup plants in Chicago, Dallas, and Los Angeles. In 1899, two lawyers secured the rights from Candler to sell Coca-Cola in portable bottle sized serving, as opposed to only being offered in the soda fountains. Not realizing the popularity bottles would have, Candler sold the rights for just one dollar. Going into the new century, Coca-Cola continued to see rapid growth moving into other countries including Canada, Panama, Puerto Rico, France, and Cuba to name a few. From having just two bottlers in 1990, Coca-Cola had almost 1000 bottlers in 1920. Over the next twenty year, focus was on introducing the beverage around the world with much success. After 70 years of success with Coca-Cola, the company began introducing other flavored beverages including Fanta ®, Tab ®, Fresca ®, and Sprite ®. The company’s presence was growing more and more internationally in countries such as Cambodia, Turkey, and Paraguay. In1971, the company was selected to be the only company allowed to sell packaged cold drinks in The Peoples Republic of China. During the 1980’s, Diet Coke was introduced and the company made an attempt at developing a new improved formula for Coca-Cola. While this had good test panel results, when the new formula was introduced on the market, the public begged for the old formula to be reinstated. The public opinion eventually won and Coca-Cola Classic was back on the shelves. The 1990’s  brought other new beverages to the line up including Dasani ® bottled water, Powerade ® sports drink, and Barq’s ® root beer. The company continued to move into other countries including East Germany and India. By 1997, the company was up to over 1 billion servings of their product a day and continually growing. Coca-Cola started out as an experiment in a pharmacy selling just nine glasses a day and now has over 500 brands world wide selling over 1.7 billion servings per day. Even with the tough economy, Coca-Cola has continued its growth and remains to be a beverage that consumers reach for da ily, not just in the United States, but all over the world.

Factors Influencing Political Betting On Politics

This chapter will draw out some of the characteristics of the type of person to bet on a political outcome. It will also focus on the different types of motives why people may be tempted to place a bet on a specific outcome. The first distinction, that needs to be assessed is whether those betting on politics are gamblers first and foremost, or whether their interest in politics has prompted them to put their money where their mouth is. Betting on elections, within in America, while illegal, can still occur amongst very strict framework. These prediction frameworks can attract interest from the more typical gambler and the public that are more interested in politics. These markets, however, do not function in the exact same manner as the†¦show more content†¦Alistair Meeks is a lawyer, who is heavily involved with political betting. His underlying interest in politics was the driving force for him to get involved with politics. He has been documented stating he likes that politics is still considered a novelty bet, as the strong form research is less of a feature than in sports betting . Alistair Meeks frequently writes articles for the PolitcalBetting website. It is clear his interest is Politi cs and he sees it as a way to make a little bit of extra money from his own interests. This suggests political betting is something that is of interest to both people with an interest in politics, but also those who take a punt as gambling is their main focus. Political betting is different from Sports in this sense, as it is unlikely political betters will make the move across to sports betting. People may have been betting to keep an interest in the result and to gamble on their own analytical ability. It could be suggested this is what makes political gambling an interesting topic, as those placing the bets may fall outside those who are typical gamblers. 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Project Management An Implementation Plan Essay

INTRODUCTION This class has given me a great insight into which complexity is and how it relates to project management especially within the construction industry. Project complexity is defined as consisting of many varied interrelated parts and can be operationalized in terms of differentiation and interdependence (Baccarini, 1996). The course established the fact that all projects do have some level of complexity. To be able to effectively identify the extent of complexity and to adequately plane for these complexities, one needs to get a clear understanding of what the project involves and how to strategize an implementation plan (Ireland, 2007). The course also differentiated between risk and complexity while elaborating on the identification and management of risk. Complexity is basically associated with the level of difficulty which makes it harder to complete the project thus requiring special efforts to keep project risk in check. Risk measures the uncertainties associated with the projec t while complexity focuses on the known knowns. Also discussed was the Complexity Theory. This theory seeks to determine the minimum number of components needed for a system within a particular area of interest firstly by finding new designs that call for fewer components and by showing that a certain number of components will be needed no matter what design is followed. Secondly by setting limits beyond which further attempts at improvements are futile. This helps to completelyShow MoreRelatedImplementation Of A Project Management Plan1502 Words   |  7 Pagesupcoming Enterprise 2.0 project there are several methods that will moderate transition to the new system. This change management system will help minimize the transition period further up the change curve and will minimize the pain and disruption associated with the transition. 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Essay on Developmental Matrix - 995 Words

University of Phoenix Material Developmental Stages Matrix |Developmental Stage |Physical changes |Cognitive changes |Socioemotional changes | |Infancy |Body weight doubles by the fourth month after birth and| |Crying and contentment | | |triples by their first birthday. |Sensory motor intelligence begins with six stages of |Smiling socially. | |†¦show more content†¦|Hypothetical thought occurs – reasoning about what if |Moratorium – postpone achievement choices. | | |Body becomes bigger; a growth spurt. Eat more and gain |propositions that may or may not reflect reality. |Four aspects of identity – religion, sex, vocation, | | |weight. |Capable of deductive reasoning – begins with abstract |politics/ethnicity. 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Fundamentals of Financial Management

Question: Discuss about the Fundamentals of Financial Management. Answer: Introduction Financial report consists of the three basic elements which are balance sheet, income statement and cash flow statement which are collectively termed as the financial statement of the company (Berk and DeMarzo, 2007). Financial statement consist of the balance sheet which provide brief overview of the company key assets and liabilities which eventually leads to the company overall growth related to the asset and liability and thus help to provide a brief idea about the company management efficiency .Financial statement such as income statement helps to provide the financial position status of the organization which eventually helps the capital provider to determine which company or the organization is best suitable for investment (Brigham and Houston, 2004). The investors and shareholders of the company analyses the financial report that helps them to understand the situation. Capital provider depends on the financial statement of the company produced and prepared at the end of each fiscal year. The company cash flow statement help the capital provide to gain the idea of three basic activities of the company occurred over the period of each fiscal year. The three basic activities which are determined by the company cash flow statement are operating activities, financing activities and investing activities (Elliott and Elliott, 2008). The three basic element of the financial statement are cash flows statement, income statement and balance sheet. These three financial statement helps to understand financial ratio which help t capital provide to get a clear and precise idea about the company key facts and figure regarding management efficiency and debt and equity capital structure. Stewardship role of accounting and valuation objective of financial accounting and these differences Financial reporting is considered to be one of the major sources which help the capital provider to investigate and analyse the financial statement which provide brief notion about key facts and figures. The present conceptual framework explicitly refers that the financial reporting should be framed in such a manner which helps to reflect the overall requirement of the capital provider for the given company. It is very much essential to get a clear and precise idea about the key aspect like Stewardship role of financial information and decision usefulness as the recent revision to the IASB conceptual framework (Cascino et al., 2014). When the market are perfect one can determine and value the share prices and financial position by the market value and overall modification in the book values of the owners equity or incomes which determine and measure the overall key changes in the firm value. If the market is not saturated accounting can still be utilised to determine the change in th e overall value of the firm. Under the valuation or the decision usefulness the primary aim is on how the accounting helps to measure the value of the firm more accurately (Hillier, 2010). One of the major additional roles of the accounting is that it arises when the markets are not perfect is stewardship. Big firm entrust the assets and key decision to the managers. Managers are considered to have the power of informational advantages which help to take a leading edge over the valuation techniques (Holton, 2012). Accounting data helps to decrease or minimise the negative impact of the managers private information and in return helps to improve the organizational values. Valuation or decision usefulness and stewardship role of accounting both plays a vital role for the capital provider to determine the financial position of the firm in the market. Valuation determine the financial position by determining the fair worth of the firm whereas the stewardship role of accounting takes the help of accounting information provided by the manager (Moles, 2011). Valuation or decision usefulness takes the helps of the information to make the investment decision and typical need future oriented information whereas on the other hand the Stewardship role of information focus on the utilising the overall information to manages and control the management with the effective use of the capital after it has invested in the organization. The overall actives often need to determine and analyse the past financial statement of the company which explicitly in contract between the equity investor, lenders and organizational managers (Paramasivan and Subramanian, 2009). IASB conceptual framework relation with Stewardship role of accounting and valuation Stewardship roles of accounting and valuation both are considered to be playing major role in their respective field, due to the recent changes in the IASB conceptual framework, these two methods considered to be vital for capital provide to control the financial situation of the company in the market (Ross, Westerfield and Jaffe, 2005). However it is evident that the Stewardship roles of accounting is considered to be one of the major part, however it is also considered to provide a range of discomfort about its overall use by IASB standard. On the other hand the valuation or decision usefulness roles is come time signifies as the valuation role of accounting information (Shapiro, 2006). Both the role of accounting information provider is considered to be important as it helps to provide notion of the financial information. The financial information provided on the basis of the stewardship role of accounting helps to provide the key information regarding the company perspective whic h is executed based on the manager efficiency (Smart, Megginson and Gitman, 2004). It is evident from the research and analysis that the company should focus on the financial information as in both the case the financial decision of the investor depend on the financial statement and the Stewardship roles of accounting and valuation both are more or less same and used as the alternative for the preparation and publication of the financial statement. Differentiation between the valuation role of earning and their respective role for determining and evaluating the managers efforts is useful for making the financial decision (Spiceland, Sepe and Nelson, 2011). However on the basis of the criticalanalyses the information need on the future cash flows is not dependent on the manager information. Financial statement consist of the balance sheet, income statement and cash flow statement on the basis of the Stewardship roles of accounting and valuation the depends of the information is high a the capital provide occur on the company key facts and figure which helps to determine the company financial position (Stittle and Wearing, 2008). These outcomes have sweeping ramifications for the present talks encompassing the Conceptual Framework for financial reporting. The heterogeneity of clients of bookkeeping data makes it hard to distinguish an overwhelming client bunch ex ante. Then again, since heterogeneous clients have heterogeneous requests, the idea of 'universally useful monetary reporting' appears to be flawed. Maybe significantly more imperative, it appears to be vague why money related bookkeeping data ought to be intended to give an all-encompassing 'genuine and reasonable perspective' of the reporting element (Wild, 2005). In a setting where capital suppliers use data from different hotspots for their choices, it appears to be thoughtfully speaking to upgrade money related bookkeeping data restrictive on the other data sources being accessible. Accounting data helps to decrease or minimise the negative impact of the managers private information and in return helps to improve the organizational values. Valua tion or decision usefulness and stewardship role of accounting both plays a vital role for the capital provider to determine the financial position of the firm in the market (Wolf, 2008). Valuation determine the financial position by determining the market value of the firm whereas the stewardship role of accounting takes the help of accounting information provided by the manager. In view of the writing, one can infer that the upper hand of money related reporting data lies with its unquestionable status, objectivity, institutionalization and consistency. At long last, the perception that capital suppliers use data mediators and have constrained data handling abilities legitimizes further study into the beneficiaries of financial bookkeeping data as progressively complex bookkeeping data prompts generous dangers of miscommunication. To finish up, since various clients have diverse data needs, data preparing aptitudes and option data sources, the improvement of a Conceptual Framework eventually includes settling on political choices. This infers inclining toward the data need of one capital supplier bunch over the data needs of other capital suppliers will suggest distributional impacts (Berk and DeMarzo, 2007). Capital provided are heterogeneous and that their respective information requirement which also help to provide the demand for key information which differed systematically. Information can be utilised to impact the firm overall key behaviours and the cash flows through contextually arrangement. And to determine the clause claims to reporting firms. To the extent that some capital provider which have the opportunity which help to influence their contractual relationship with the organization (Helbk, Lindest and McLellan, 2010). Demand of the financial accounting information can therefore is expected to be shaped predominantly by the overall valuation aim ad objective of financial accounting. Financial information helps the capital provide to get prior i nformation about the company financial wealth which is compliance with the IFRS standard which follow the company to pride the set of the principle and guideline to prepare and publish the financial statement for the given fiscal year. Impairment Policy BHP Billiton The annual report of BHP Billiton shows the impairment policy. The adjustments for the exceptional items in the financial report includes impairment of Onshore asset in US, repeal of mineral resources rent tax legislation and the impairment of the Nickel west. The value of the non financial assets are analysed at the end of the accounting year in order to determine the impairment. The intangible assets and goodwill value is estimated at the financial year. The impairment of the Onshore asset in US reflects mainly the geological complexity of the Hawkville filed, product mix, development plans and acreage relinquishments (BHP Billiton, 2016). In 2011, the Petrohawk was acquired prior to the establishment of GMC. The diminution and impairment in the Petrohawk asset value has contributed directly to zero vesting result under LTIP 2010 for the participants. The company recognised the impairment charge in their financial report of amount US $1958 million in relation to the onshore assets. In the year 2014, the company announced that the analysis and review of the Nickel West business was accomplished and business sale was not achieved on that acceptable basis. The operational decision helps the company to charge impairment for an amount of US$290 million was recognized in the year June 30, 2015 (Fifield and Power, 2011). An impairment charge for an amount of UD$167 million was determined as the specific evaluation performance in the areas of Permian Basin. The impartment testing has been allocated to the CGU group and are expected to get benefit from synergies of business combinations and represents the level at which the management will manage and monitor the goodwill. The recoverable amount of the Onshore US was evaluated on the basis of fair value less disposal costs. The fair value less cost of disposal is resolute as the current estimated worth of the forthcoming cash flows and arises from the use of the assets. The recoverable amount of the Onshore US and goodwill impairment loss is equal to the carrying amount (Financial statements, 2013). The operational, marketing and structural changes was achieved in the year 2015 and determined that Hawville and black hawk represents separate CGUs. The impairment amount of US$ 2287 million was recognized in relation to property, plant, equipment and Hawkville. Qantas Airways The non-financial assets of Qantas Airways are determined and analyse at the completion of financial accounting year. The recoverable amounts of intangible assets and goodwill are estimated. The recoverable amounts of the assets are higher that the fair value less sell cost. Assets help to generate future cash flow of the company for an example aircraft that are assessed on the cash generating unit. The cash generating unit includes intangible assets, infrastructure and net inflow of cash for CGU (Qantas Airways, 2016). The net flow of cash is used to determine the recoverable amounts that are discounted at the net present value which reflects the assessments of the current market of time value and risk associated with the assets. The financial assets are assessed at the end of the accounting year that helps to determine the evidence objective that is impaired. The financial report of the company shows that the value of the assets does not exceed the recoverable amount. The financial asset would be impaired if the evidence objective shows that one or more proceedings had adverse impact on the future flow of cash of the assets (Kew and Watson, 2012). The determination of the CGU of the assets need judgement and also needs determination of the low aggregation of the assets that produce independent inflow of cash. The guideline of AASB 136 shows the impairment of the assets for the Qantas airways. The impaired loss is to be calculated on the financial assets at the amortised cost and shows the difference between the present value and carrying amount of the future cash flow at original effective rate of interest. The balance sheet of the company shows the asset value. It is the responsibility of the auditors and accountants to determine and analyse the financial show of the business as well as showing accurate value of the assets. The fair representation of the assets value is very much important for the company (Winters, 2008). The investors and shareholders of th e company govern and assess the financial situation and the asset value shows the ability of the company to pay back the debt amount. Impairment of assets The impairment of assets of the companies in the financial statements shows that the asset values are not carried out more than recoverable amount. However, the provision of impairment of Qantas Airways and BHP Billiton matched with the role of valuation. The actual value of the assets can be determined and evaluated with the help of provision of impairment (Helbk, Lindest and McLellan, 2010). The financial report of the companies shows that the value of the assets does not exceed the recoverable amount. The loss account of impairment shows that the assets amount exceseds the regain amount value. The financial report of both the companies shows actual value of the assets. The carried amount of the assets is calculated by deducting accumulated depreciation and impairment losses. Therefore, the financial statements show that whether the asset value can be impaired and the recoverable asset amount should be calculated. The valuation of the assets is done at the end of the income year (Z opounidis, 2008). The valuation is based on the Australian Accounting Standard as well as the main focus is on the fair value representation. The companies generated their future flow of cash with appropriate utilization of the assets. The carried amounts of the assets are assessed at the financial accounting year and decision is taken by the financial management department whether the assets can be impaired or not at the end of accounting year. The investors and shareholders of the company control and manage the asset value shows the ability of the company to pay back the debt amount. The recoverable amounts of the assets are estimated that helps to predetermine and analyse the actual value of the assets. Conclusion The preparation of financial report and managing financial resources is very much important for an organization. The analysis of financial data helps to provide a notion about the financial aspect of the comapny. The investors and shareholders of the company analyses the financial report that helps them to determine the financial position of the company. Therefore it is important for the company to show fair value of assets, liabilities, revenue, expenses, profit or loss during a specific period of time. The valuation of the assets and liabilities shows the ability of the company to pay off its debts and it is the responsibility of the auditor to show appropriate value in the financial statement. The financial statement helps to analyse the financial ratio which help to capital provide to determine about the company key facts and figure regarding management efficiency and debt and equity capital structure. References Berk, J. and DeMarzo, P. (2007).Corporate finance. Boston: Pearson Addison Wesley. BHP Billiton, (2016). [online] Bhpbilliton.com. Available at: https://www.bhpbilliton.com/~/media/bhp/documents/investors/annual-reports/2015/bhpbillitonannualreport2015.pdf?la=en [Accessed 20 Sep. 2016]. Brigham, E. and Houston, J. (2004).Fundamentals of financial management. Mason, Ohio: Thomson/South-Western. Cascino, S., Clatworthy, M., Garca Osma, B., Gassen, J., Imam, S. and Jeanjean, T. (2014). Who Uses Financial Reports and for What Purpose? Evidence from Capital Providers.Accounting in Europe, 11(2), pp.185-209. Elliott, B. and Elliott, J. (2008).Financial accounting and reporting. Harlow: Financial Times Prentice Hall. Fifield, S. and Power, D. (2011).Managerial finance. [Bradford, UK]: Emerald. Financial statements. (2013). London: BPP Learning Media Ltd. Helbk, M., Lindest, S. and McLellan, B. (2010).Corporate finance. New York: McGraw-Hill. Hillier, D. (2010).Corporate finance. London: McGraw-Hill Higher Education. Holton, R. (2012).Global finance. Abingdon, Oxon: Routledge. Kew, J. and Watson, A. (2012).Financial accounting. Cape Town: Oxford University Press. Moles, P. (2011).Corporate finance. Hoboken, N.J.: Wiley. Paramasivan, C. and Subramanian, T. (2009).Financial management. New Delhi: New Age International (P) Ltd., Publishers. Qantas Airways, (2016). [online] Qantas2015.reportonline.com.au. Available at: https://qantas2015.reportonline.com.au/system/files_force/downloads/full_qantas_annual_report_2015-1.pdf?download=2 [Accessed 20 Sep. 2016]. Ross, S., Westerfield, R. and Jaffe, J. (2005).Corporate finance. Boston: McGraw-Hill/Irwin. Shapiro, A. (2006).Multinational financial management. New York: J. Wiley Sons. Smart, S., Megginson, W. and Gitman, L. (2004).Corporate finance. Mason, Ohio: Thomson/South-Western. Spiceland, J., Sepe, J. and Nelson, M. (2011).Intermediate accounting. New York: McGraw-Hill Irwin. Stittle, J. and Wearing, B. (2008).Financial accounting. Los Angeles: SAGE Publications. Wild, J. (2005).Financial accounting. Boston: McGraw-Hill/Irwin. Winters, D. (2008).Managerial finance. [Bradford, England]: Emerald. Wolf, M. (2008).Fixing global finance. Baltimore, Md.: Johns Hopkins University Press. Zopounidis, C. (2008).Managerial finance. [Bradford, England]: Emerald.