I’m getting on a plane & never coming back!

I think I have finally finished my assessment. I feel like I have been doing this assessment for 1000 years! Hopefully I am done but if you want to read it and give me feedback you are more than welcome to.

Assessment 1 Steps 3 – 6

BSA Spreadsheet Assignment 1 Step 4

During my time doing this assignment I have lost faith in myself many many times. I have felt like dropping this unit on more than one occasion but alas the census date has been and gone. But then I got the days when I felt like I was on top of it, when I felt like I was finally understanding the accountanese.

fb_img_1488962467006.jpg This really helped me during my time struggling through this assignment. The constant little pep talks really helped!

I’m glad I am doing this unit because it is pushing me out of my comfort zone (something I don’t leave very often).

Until next time peeps, I will continue to give myself little pep talk!

Enjoy being bad ass people!!!!!

Accounting – not as boring as I thought!

I have been slaving away trying to finish my draft for Assignment One by 3pm, yes 3pm Perth time instead of 5pm which I feel thoroughly miffed about. How is it far we get 2 hours less time than everyone else?  One of the many joys of living on the West Coast I guess :). Anyhoo, I have finished Steps 3 – 5. Still working on Step 6 (there is so many good blogs to read and soooo little time).

I figured I would upload Steps 3 – 5 here in one central location so they are easier for you all to find 🙂

Assignment 1 Company Review

BSA Spreadsheet Assignment 1 Step 4

BSA Annual Report 2014

BSA Annual Report 2015

BSA Annual Report 2016

Assignment 1 Step 5

If someone had asked me this time last year if I would ever find accounting interesting they would have been met with a resounding “do I look like a numbers geek to you?”. But I can gladly say now that accounting is surprisingly interesting. Definitely not just for numbers geeks (unless, of course, I am a secret numbers geek?)

 

BSA Ltd – A Company Overview

My initial reaction to receiving BSA Ltd as my company of focus was a feeling of defeat. Who are BSA Ltd? What do they do? How am I going to find this remotely interesting if BSA turns out to be super boring? Nevertheless, I soldiered on, BSA was what I was given and I was determined to find something interesting about them. So, I downloaded 3 years’ worth of their Annual Reports, looked at them briefly and thought to myself “accounting is not for me, I have absolutely no idea what any of this means!” Cue minor meltdown and 2 days worth of avoidance. No more time for avoidance. I have spent nearly all of my Sunday researching BSA and reading their most recent Annual Report. Admittedly, I still don’t understand the Report as I have not read Chapter 3 of the Study Guide yet, but this is what I have discovered so far.

BSA is a comprehensive technical services contracting company in 25 locations Australia wide. Their Vision, according to their website, is to revolutionise asset implementation, operation and maintenance through the application of technical expertise, smart solutions and innovative client service.

BSA is divided into three business units: BSA|BUILD (formerly TDCP – Technical Design and Construction Projects), BSA|CONNECT (formerly TFFS – Technical Field Force Solutions) and BSA|MAINTAIN (formerly TMS – Technical Maintenance Services). The Business Unit name change is due to company consolidation and restructuring during the 2016 financial year. This consolidation and restructuring (amongst other things) lead to a $38.1 million revenue loss for the 2016 financial year.

BSA|BUILD – YOUR TRUSTED DESIGN & CONSTRUCT PARTNER FOR HVAC & FIRE SOLUTIONS

BSA|BUILD is an innovative and solution driven building services supplier to all sectors of the construction industry. They specialise in the use of 3D BIM (Building Information Modelling). BIM uses 3D real time building modelling software to assist in the design and construction phases of projects. It helps with the  building geometry, spatial relationships and geographic information of a project and can be used for material ordering, costing estimates and material tracking. Some of BSA|BUILD’s projects include the BHP Corporate Head Office in Perth, the new Royal Adelaide Hospital in Adelaide (obviously) and the Fiona Stanley Hospital in Perth.

BSA|CONNECT – EXPERIENCED, CAPABLE & COMMITTED

BSA|CONNECT specialises in telecommunication networks and technologies. It is a national provider of strategic advice, design, implementation, operations and maintenance of these telecommunication networks. BSA|CONNECT recently won a five year contract with nbn to be their delivery partner in Brisbane, Melbourne and Sydney. BSA expects first year revenue from this contract to reach $50 million.

Article on BSA NBN contract win

Video of BSA nbn contract

BSA|MAINTAIN

BSA|MAINTAIN is a national technical services provider specialising in HVAC (Heating, Ventilation and Air Conditioning), Fire, Electrical, Plumbing and general repairs. Some of BSA|MAINTAIN’s projects include the Queensland Institute of Medical Research in Brisbane, the Olivia Newton-John Cancer & Wellness Centre in Victoria, Housing NSW and the Department of Defense in Victoria.

BSA|MAINTAIN developed the CPU II Pressurisation Unit which eliminates dust from areas such as labs and clean rooms. CPU II Pressurisation Units are widely used throughout Western Australia in the resource mining industry. They also developed a software suite called SECURE. SECURE has many features including asset level reporting, serialisation and barcode scanning, viewing of data and work order status and the instant communication of faults.

BSA FINANCIAL POSITION

The current share price is $0.38.

The 2016 financial year was not a good one for BSA. They recorded at revenue loss of about $38 million. From what I can find at the moment this was due to restructure costs and legal cost in regards to legal issues with the new Royal Adelaide Hospital and the NSW Office of State Revenue (payroll tax issue). But this only accounts for $18.6 million. What happened to the rest?  Will I be able to find out through closer scrutiny of the Annual Reports? Stay tuned to find out…..