Concern Opinions In The Australia Financial -Myassignmenthelp.Com

Question: Discuss About The Concern Opinions In The Australia Financial? Answer: Introducation Shareholders are the people who invest in the company, and depends on the financial of the company to take important decisions for their investments. The annual report of the company provides a snapshot of the financial position of the company and helps the shareholders in getting the required information(Belton, 2017)Customers are another important stakeholder who depends on the overall functionality of the company to get the desired results. The customers depend on the annual reports and other public information that is given out for the company, the social media platforms, the overall advertising that the company does to get the desired information needed.Employees are the primary members on whom the workings of the company dependent. It is important that companies must treat their employees as assets and provide them with fair working conditions. If the employees functions well, the company will function well. The overall involvement of the employees has become very prominent and they also have a say in the business decisions of the company(Visinescu, Jones, Sidorova, 2017). The employees can get their share of information from the financials of the company and the website of the company.Many companies depend on strong business partners to help in conducting their operations smoothly. Nowadays retailers look for strong supply partners that can provide them with the required products at the cheapest price possible. These supply chain partners often provide ancillary services like transportation and distribution.Environment is one of the most important stakeholders for the companies are environment in which the company operates. It is important that companies should understand their responsibilities in preserving the nature and the environment and work in sync with the overall well-being of the same. (Gartland, 2017). A balance scorecard is a performance metric that is used to evaluate and enhance the overall performance metric of an organization based on the various internal and external factors associated with the same. A balance scorecard analyzing one important metrics for the RTXM is given below- Particulars Financials Customer Internal Business Process Learning and Growth Management of the raw materials The management of the raw materials is an important aspect. The company should go for such suppliers that provide them with better resources at cheap prices. The cost of the raw materials is included in the income statement of the company and has an effect on the overall profit that the company earns(Prasad Chand, 2017). The cost of the raw materials has impact on the price that the customer needs to pay. It is thus necessary from the aspect of customer better management of the raw materials and its growth and sustainability. The company should also include the environmental impact of generation of products on the total effect that it is having on the customers(Dichev, 2017). The management of the raw materials is an important internal business process. The company needs to appoint experts who can advise on the same and help in ensuring better management. The company also needs to have timely audit to ensure stability of its internal control. The overall learning and growth of the company is associated with the overall management of the each and every department of the company(Visinescu, Jones, Sidorova, 2017). Growth comes from overall development of the company and its various aspects. Thus it is important that company should focus not on one aspect but overall growth. The company should also focus on providing requsite training to the employee so that they can also contribute in the growth of the company. The company is having an option to select between two suppliers who supplies the required raw material for the company. A fair comparison between the two suppliers based on the overall cost and profit is given below- Particulars Super Cheap Green Fashion Cost This supplier can provide a large range of products required by the company at competitive prices within the time frame required(Elimam, 2017). This supplier can provide only limited products within a given time frame and the overall prices are comparatively high. Effect on environment It was found that this supplier was using thousand liters of water to produce a range of clothes and all this water was discharged in the local river, and no further steps were taken to solve this issue. This caused a lot of water pollution, and made the water unfit for drinking. The residents were also hampered as they were not getting clean water. In short, they caused a lot of harm to the environment and took no proper steps to solve this issue. In case of Green Fashion, the suppliers are very keen on being environmentally sustainable and same ideas have been presented on their website. They promote products that are more environment friendly and have provided the same on their websites. Labor Conditions Super Cheap does not promote fair conditions for its workers, it indulges in a lot of child labor and does not promote work life balance for its employees. (Mayntz, 2017). Green fashion provides fair working condition to its employees and promote healthy work life balance. It ethically sources all its labor, and helps in sustainable development and growth of its employees(Chron, 2017). Based on this comparison it can be said that the company should go for that supplier that promotes healthy work life balance among its employees and take the necessary steps for the conservation of the environment. The believes of the supplier are same as RTXM, and the same has been displaced on their websites. (Explaining auditors propensity to issue going-concern opinions in Australia after the global financial crisis, 2017). The life cycle assessment is a technique that is associated with the different levels of a product cycle. It helps in assessing the overall environmental impact of producing a product from the initial stage to its final delivering. It helps designers in understanding the overall impact of developing a product. In case of RTXM, the company is a garment manufacture and it produces mainly jeans and T shirt(Cayon, Thorp, Wu, 2017). The LCA of jeans is given below, along with its possible environmental and social implicationProduction of Cotton,Production of Fabric,Manufacturing of the garment,Transportation and distribution,Consumer care,End of Life and Recycling These are various stage of Life Cycle Assessment of a jean, the four-possible social and environmental impact of the first two stages of this LCA are-Production of cotton requires a lot of manual labor, and it is important that proper working conditions must be provided, else the workers will suffer.Production of Fabric requires a lot of water and it can lead to a lot of water pollution.Production of fabric in factories is also associated with several work place diseases and therefore safety of the workers must be ensured in such a condition(Kohtamki, 2017).The production of jeans is also associated with the overall dying of the fabric and maintenance of the same. This requires the workmen to work in harsh conditions and hampers their health(Belton, 2017). The company may take necessary steps in reducing the hazards for the workers to ensure proper working condition for them. The company must try to reduce the overall impact on the environment and ensure proper steps must be taken to reduce the effect of the same. Protection of the environment and maintain sustainability of the same is important for the company and its overall growth and development(Vieira, ODwyer, Schneider, 2017). Stakeholders are the backbone of any industry and it is important that investor protection must be provided. In case of an automobile industry, the company can improve the overall return to its shareholder, by increasing the overall operations of the company. The company can improve the share price of the company by improving its liquidity position in the market, this in turn will improve the share price of the company and that will improve the position of the shareholders in the market. The main aim of the company should be to increase the credibility of the company and that will in return help in providing better return to the shareholders. The company can improve its performance in the financial sector, by timely completing all the statutory requirements like paying of taxes, filing of return, and all other compliance related work. This will help the company in making a name in the market and help in increasing the overall prices of the share. The automobile industry is a manufact uring based company and the major impact is on the consumers and the retailers. It is very important that cost management of the company is optimum so that the end consumer who gets the product after passing through so many middle men is not hampered (Dichev, 2017). The production of automobile, use of fuel and use of the same by the consumers causes a lot of air pollution which is very harmful, the companie should install safety measures to make sure that it can be reduced considerably. Protection of environment and maintaining the overall stability is one of the prime responsibility of the company and it must focus on all round growth and development. This is turn will help in increasing the stock prices of the company resulting in an increase in value of shares (Prasad Chand, 2017). References Belton, P. (2017). Competitive Strategy: Creating and Sustaining Superior Performance. London: Macat International ltd. Cayon, E., Thorp, S., Wu, E. (2017). Immunity and infection: Emerging and developed market sovereign spreads over the Global Financial Crisis. Emerging Markets Review. Chron. (2017). five-common-features-internal-control-system-business. Retrieved december 07, 2017, from https://smallbusiness.chron.com/five-common-features-internal-control-system-business-430.html Dichev, I., 2017. On the conceptual foundations of financial reporting. Accounting and Business Research, 47(6), pp. 617-632. Elimam, H. (2017). The Role of Small Businesses (Small Scale Economic Projects) in Alleviating the Acuity of Unemployment. International Business Research, 10(3). Explaining auditors propensity to issue going-concern opinions in Australia after the global financial crisis. (2017). Accunting and Finance, Carson,E;Fargher,N;Zhang,Y;. Gartland, D. (2017). The importance of audit planning. Journal Of Accountancy. Kohtamki, M. (2017). Real-time Strategy and Business Intelligence: Digitizing Practices and Systems. Finland: Palgrave Macmillan. Mayntz, R. (2017). Networked Governance. Springer. Prasad, P. Chand, P., 2017. The Changing Face of the Auditor's Report: Implications for Suppliers and Users of Financial Statements. Australian Accounting Review Vieira, R., ODwyer, B., Schneider, R. (2017). Aligning Strategy and Performance Management Systems. SAGE Journals, 30(1). Visinescu, L., Jones, M., Sidorova, A. (2017). Improving Decision Quality: The Role of Business Intelligence. Journal of Computer Information Systems, 57(1), 58-66