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Discuss about the Australia Mining Boom and Dutch Disease.

Companies and Industry Types

The paper is based on the discussion of the accounting issues about the group of companies that has been presented here. The paper has been presented with different heads and all those are crucial for the topic (Brakman and Van Marrewijk 2017). The main focus of the paper is to talks about the asset, the latest annual report of the group of companies and also present or put forward a detailed comparison among the companies. There are industry groups and those are manufacturing industry and mining industry and on the basis of these two groups of industries, four companies or organizations have been selected (Chen et al. 2016). The important points that come in the paper include introduction to the selected companies or the group of companies and the two industry type as well. Other than this the points that are covered also include revenue recognition, assets recognition and liabilities recognition as well (Dean et al. 2014). The report has been very structurally formed and it helps in clear understanding of the differences that focus on resources and accounting aspects of both the two group of companies.

The selected companies here are Rus Mining and Fortescue metals from the mining industry and Blackmores and Baxter Health Care in Australia (Koitsiwe and Adachi 2015). These are the 4 companies and they form two group which are mining industry group and manufacturing industry group (Dean et al. 2014). The first point that can be discussed about is the products and services. Rus Mining and Fortescue metals are well known and reputed mining organizations and the products and services that they offer include excavation, mining, drilling, contracts based on these and the important products of the organizations include iron, coal, metals and others (Chen et al. 2016). The organizations mainly focus on their mining work and thereby iron is their chief and preliminary product (Koitsiwe and Adachi 2015). However Rus Mining is a contracting organization in Australia that provides coal mining services to different organizations in the industry and provides them with important and innovative equipments, tools and also mining labor to assist the companies that have hired them. Rus Mining is thereby mainly placed within the sphere of mining contracts for the other related organizations. On the other hand Fortescue metals is also there and it specializes in products like coal and is regarded to be 4th largest iron ore producers across the world (Dean et al. 2014). Fortescue metals were established in the year, 2003 and Rus Mining was established in the year, 2000 (Chen et al. 2016). The organizational structure of Rus Mining include team ownership where a number of expert and knowledgeable mining experts have come together and launched this organization that manages their operation and also regulates the mining services of the company that is provided to many mining projects and rents and sells mining equipments and mining solutions as well (Koitsiwe and Adachi 2015). On the other hand the organizational structure of Fortescue metals include management board that has audit and risk management committee, remuneration and nomination committee and finance committee (Brakman and Van Marrewijk 2017). The management board has board of directors and they regulate the organization and also the work of the organization (Brakman and Van Marrewijk 2017). Main activities of Fortescue metals include mining and that is iron ore mining and on the other hand the main activity of Rus Mining is providing mining solution (Dean et al. 2014). Business achievement of  Rus Mining include introducing latest and innovative mining solution, one of the leading mining solution organizations in Australia, and is also awarded with “Belt and Relocation Installation”. On the other hand the achievements of Fortescue metals include international name and reputation, having a huge region of Pilbara to their control, US$1.28 billion Eliwana project in their hand, holdings of more than 87,000 km.

Products and Services

The two groups of organizations under the manufacturing field include Blackmores and Baxter Health Care Ltd.  Blackmores was established in the year, 1930 and the services and products of the organization include mineral, vitamin and nutritional supplements (Zhang,  Wang and Fu 2017). The service of this organization is based on providing supplements and is related to healthcare of people (Koitsiwe and Adachi 2015). It manufactures the vitamins and mineral supplements and thereby sells them in the market. Different kinds of supplements in different forms of packaging can be found in the market by Balckmoes (Zhang,  Wang and Fu 2017). The achievement of this organization includes most trusted and most popular supplement supplier or manufactures in Australia and other than this the achievement of the organization also include its inclusion in Queensland Business Leaders of Fame (Koitsiwe and Adachi 2015). It has a legacy of its own and that is carried forward with the present day activities and work of the organization (Zhang,  Wang and Fu 2017). Main activities of the organization include testing, supplement formation, research as this is required to manufacture the final product and others (Brakman and Van Marrewijk 2017). The organizational structure of Blackmores include a governing management structure where it is the management board that decides and controls all the work of the organization like manufacturing pattern, advertising, supplement types and also regulates the doctors and the researchers who work on brining the result (Keating et al. 2017). Team leader structure in the underlying departments of the organization can be seen (Zhang,  Wang and Fu 2017).  The other company is Baxter Health Care Ltd. and this was established in the year, the organization works in healthcare field and the products and services of the organization mainly includes medical products and equipments. Blood collection equipments, surgical aids, different types of hospital devices, hospital medical disposables and pharmacy services are also provided (Keating et al. 2017). The achievement of the organization includes being the most popular and the leading seller and manufacturer of medical products and the achievement also include the having leading health organizations as their client (Keating et al. 2017). Main activities of the organization include manufacturing the medical and health care products that are essential in the healthcare departments (Dean et al. 2014). The organizational structure of the organization, Baxter Health Care Ltd. is management controlled and it is the hierarchy of managers who control the organization.

Revenue of Fortescue metals is near about $8,447 billion as per the latest report of 2017 and the net income of the organization is estimated to be $2.093 billion. This is the first initial exposure of the revenue recognition of this organization  (Chen et al. 2016). In comparison to this the revenue of Rus Mining has been 32% more than that of the previous year and the total estimate of net income of $1.098 billion are stated as per the latest report of 2017. Other than this the net market share of Fortescue metals is 58% in Australia and in comparison the market share of Rus Mining is 32%. The yearly revenue of Fortescue metals is 54% of their investment amount wjereas the yearly revenue amount of Rus Mining in comparison to Fortescue metals is 38% against their investment price or amount.

Organizational Structures and Achievements

Revenue of blackmores is estimated to be $459,000 as per the latest report of 2017 and the stock price of Blackmore is 137.75. Other than this the revenue of the organization like market share is about 62% in Australia  (Chen et al. 2016). In comparision to this the revenue of Baxter Health Care Ltd. is a little less and that is nearly $356, 974 as estimated in the year 2017. Other than this the net income percentage of the organization is 45% and that is almost similar to that of Blackmores which is 48%  (Chen et al. 2016). The share price of Baxter Health Care Ltd. is near about 32% in the Australian market and in comparison to that the share price of Blackmores is 30%.  Both the organizations come from medical and healthcare field and the revenue recognition is thereby as presented here.

This provides brief of all the asset of the 4 organizations or the two industry group presented here. The assets of Fortescue metals include the huge iron mining hubs that are under their name. Specifically the asset of the organization includes shares of small iron ore companies like Atlas iron and BC iron  (Sing et al. 2015). Other than this the asset of the organization also include private railway, the shipping fleet that it uses to ship all the iron to the point of delivery, the different mining projects and others. The asset of the organization also includes the monetary deposits or profit as these are also a part of liquid asset to be precise. The haul railway is one of the biggest assets of the organization as it helps in carrying and transporting all the products to different points of business  (Sing et al. 2015). It can take load up to 32,500 tonne and the infrastructure of the railway port acts as one of the most coveted and important asset of Fortescue metals (Zhang et al. 2015). In comparison to this Rus Mining has asset that include latest tools and huge equipments, their warehouse that is spread across major parts of Australia, mainly in Bowen basin, the South part of Australia, Hunter region and others  (Sing et al. 2015). One of the important assets of the organization includes the workers who are there to act as the service men or service team for mining solution approaches. For Rus mining the employees is one of the priced asset and they are the core of the business services that are provided to all the projects and also to the organization that approach Rus Mining.

Comparison of Revenue Recognition

Asset of Blackmores include its research formula, the variety of supplement products in the market, the researchers, the share holdings with most of the health care organizations and others  (Chen et al. 2016). On the other hand the asset of Baxter Health Care Ltd. include the medical equipments, the share holdings of the organizations, the contacts and the business shares or relationship with the healthcare centers that require the equipments and  the products and some others  (Chen et al. 2016). Other than this the liquid asset in this prospect includes the stock price of both the companies and the arket value of the both the companies (Dean et al. 2014). The inventory of Baxter Health Care Ltd. acts as one of the important assets and on the contrary for Blackmores the asset includes the employees as that consists of researchers and health professionals who prepare the supplements.

The liabilities of the organization, Fortescue metals include their stakeholders, the suppliers, the associated organizations that has their share in Fortescue metals and some others. Liability is a kind of responsibility or is a kind of concern for any organization as they need to take care of that and thus it is an important point to focus at (Sing et al. 2015). The liabilities of this organization also include the project sites as they need to be maintained and supervised  (Chen et al. 2016). They are spread over a huge span of area including Pilbara region,Solmon hub, Chichester hub and some others. This is to be invested for maintenance and management and thereby is a liability for Fortescue metals. On the other hand the liability of Rus Mining includes the employees as they are the main team here and these are the people who help the organization in getting their work done. in comparison to Fortescue metals it can be said that Rus Mining has less liability (Sing et al. 2015). For Rus Mining the liability is centered on the employees as they need to be provided good pay and also need to be provided good facilities (Chen et al. 2016). They are an asset in one hand and also a liability to some extent.

Liability of Baxter Health Care Ltd. includes accrued expenses, the investment cost, the monetary provision for maintenance of suppliers and some others. on the other hand the liabilities of Blackmores are deferred payments, the additional board members who contribute nothing to the organization and some others.

Reference:

Brakman, S. and Van Marrewijk, C., 2017. A closer look at revealed comparative advantage: Gross?versus value?added trade flows. Papers in Regional Science, 96(1), pp.61-92.

Chen, A.C., Martin, A.J., Dalziell, R.A., McKenzie, C.A., Lowe, P.M., Eris, J.M., Scolyer, R.A., Dhillon, H.M., Vardy, J.L., Bielski, V.A. and Halliday, G.M., 2016. A phase II randomized controlled trial of nicotinamide for skin cancer chemoprevention in renal transplant recipients. British Journal of Dermatology, 175(5), pp.1073-1075.

Dean, A.J., Bor, W., Adam, K., Bowling, F.G. and Bellgrove, M.A., 2014. A randomized, controlled, crossover trial of fish oil treatment for impulsive aggression in children and adolescents with disruptive behavior disorders. Journal of child and adolescent psychopharmacology, 24(3), pp.140-148.

Keating, S.E., Parker, H.M., Hickman, I.J., Gomersall, S.R., Wallen, M.P., Coombes, J.S., Macdonald, G.A., George, J. and Johnson, N.A., 2017. NAFLD in clinical practice: Can simple blood and anthropometric markers be used to detect change in liver fat measured by 1H?MRS?. Liver International, 37(12), pp.1907-1915.

Koitsiwe, K. and Adachi, T., 2015. Australia mining boom and Dutch Disease: analysis using VAR method. Procedia Economics and Finance, 30, pp.401-408.

Sing, C., Loveridge, R., Matthews, J., Lopez, R. and Carey, B., 2015. Modeling the Dynamics of Design Error in Australia Mining and Resources Projects. In INTERNATIONAL CONFERENCE ON ADVANCES IN MANAGEMENT ENGINEERING AND INFORMATION TECHNOLOGY (AMEIT 2015) (pp. 496-502). DESTECH PUBLICATIONS, INC.

Zhang, A. and Moffat, K., 2015. A balancing act: The role of benefits, impacts and confidence in governance in predicting acceptance of mining in Australia. Resources Policy, 44, pp.25-34.

Zhang, A., Moffat, K., Lacey, J., Wang, J., González, R., Uribe, K., Cui, L. and Dai, Y., 2015. Understanding the social licence to operate of mining at the national scale: a comparative study of Australia, China and Chile. Journal of Cleaner Production, 108, pp.1063-1072.

Zhang, Y., Wang, K. and Fu, X., 2017. Air transport services in regional Australia: Demand pattern, frequency choice and airport entry. Transportation Research Part A: Policy and Practice, 103, pp.472-489.g

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