Step 3-6

Step 4

Step 5

Step 3:

AND HOW THIS DIFFERS FROM ACCT11059. BULLSHIT TALK ABOUT TALKING TO SOMEONE ABOUT IT

Anpario Plc is a producer and distributor of high-performance natural feed additives for animal health, hygiene and nutrition on an international scale. The company is based in England with multiple subsidiaries based in other countries such as America and Brazil. It is only a recently formed company as it used to be separated over three different companies which are Kiotechagil (formerly named Agil), Optivite and Meriden Animal Health. Agil was originally formed back in 1936 and the purpose of the company was to use their understanding of controlling microbial contamination and fermentation to improve their silage additives. Anpario Plc acquired Kiotechagil in 2006 and uses its microbial contamination and fermentation in a majority of their acid products. Optivite was the pioneer in the development of Omega 3 formulations in the egg laying industry. It was founded in 1987 and became one of the most formidable companies in the United Kingdom’s independent animal nutrition companies. It was obtained by Anpario Plc in 2009. Finally, Meriden Animal Health vision was to create natural products with extreme quality. It was the first company to produce a natural phytogenic product in the UK market. In 2012, it was purchased by Anpario Plc and create the company it is today.

Link to Anpario’s site: Anpario Plc

Whilst reading through their annual report for 2016 a few things came to mind that I couldn’t find the answer to. I personally could not find any history of Anpario before their first acquisition of Kiotechagil in 2006. Other than that, the financial statements were extremely easy to comprehend and I personally had no confusion understanding them. An interesting point I found through the financial report is the below average revenue compared to usual in the Middle East as of the political turmoil. This is intriguing as how the political warfare between countries can affect more than just the people inside the countries but also affect any stakeholders of the country, such as Anpario in this case and want to expand their market.

Anpario’s Annual Report: Anpario Annual Report 2016

Finding additional information on Anpario Plc was easier than expected which I was happy about. I found a news article about the pressure Anpario will be facing within the current market for natural food additives in the UK.  In the market of 2013, the want for natural food additives is not there as they want. Although through this they were able to make 20% gross profit overall for the year which was very surprising for them after the trouble they had.

News article: Anpario Article

Finally, comparing Anpario Plc to my company in ACCt11059 Distil Plc. From my experience with both of these companies, Distil Plc was extremely harder to find any information compared to Anpario Plc. The reasoning I would believe that is because Distil Plc has been rejuvenated a multitude of times and had changed its goals and decisions whilst Anpario Plc hasn’t changed its goals or decisions from the start of their formation. This helped as finding any history was extremely easy as they just traced it back from the beginning whilst Distil Plc changed multiple time and therefore the history of the whole company has changed a multitude of times. Talking about this with other students in my class, I was the only one who was happy with their new company compared to the last company they had in ACCT11059 whilst they all found theirs more difficult to work with.

Step 4:

 

Whilst doing my income statements on my bank statements I found out that I spend too much money on food. Other than that I personally found it easy and enjoyable which was great as I usually stress over assignments so it was a great change.

My chart of accounts is just income and expenses which are categorized by an account number of 1 and 2 respectively. Looking through it all I found out that I transfer a lot of money from my savings to my personal account and vice versa as the majority of my transactions were made up of transfer debits or transfers credit. My chart of accounts look a lot different from the example because of the limited variety of transaction that I have made in the current time period.

With my chart of accounts, I could change it by making it vastly more diverse by separating my general living expenses in to more descriptive accounts such as separating fuel from groceries and Subway from Woolworths. The benefit of this is to give a greater description of my balance sheet and income statement to give a greater explanation of my financial accounts.

Analysing my income statement showed that I should save more money than I currently do as only having an average 33% profit/loss is not a great record to hold. The actual action of going through my transaction and recording them to my financial statements has been extremely useful. I can easily see the benefits of doing this for your own accounts even without a business to see where a loss in money could be coming from and see where you could ease off from.

Step 5:

Through my journey doing my trial balance I had a lot of troubles as for some reason I just couldn’t understand to make it work. When I first finished my trial balance it was out by around 20,000,000 and that is obviously not a good sign. I tried looking around and I cannot finish it as nothing I did could fix it, and for even watching Maria’s videos multiple time but I couldn’t get it done. When I went and asked a friend in my class he was able to fix it quickly which was great and was a great stress release.