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Financial Accounting Report | ABC, HIH & One Tel

   

Added on  2020-02-24

12 Pages2521 Words116 Views
Political Science
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Financial Accounting1 | Page
Financial Accounting Report | ABC, HIH & One Tel_1

Table of ContentsIntroduction.................................................................................................................................................3Overview and analysis.................................................................................................................................4ABC learning failure...............................................................................................................................5HIH Insurance group failure....................................................................................................................7One.tel phone failure...............................................................................................................................9Conclusion.................................................................................................................................................10Recommendation.......................................................................................................................................11References.................................................................................................................................................122 | Page
Financial Accounting Report | ABC, HIH & One Tel_2

IntroductionOver the past years Australia market has faced a major downfall caused by failure and bankruptcy of the organizations dealing in their market. Liquidation is basically the result of thefailure of these organizations and their inadequacy to payout their debts. In the present report, we have taken the case study of three big companies namely as ABC Learning, HIH Insurance and One.Tel phone company. These companies once had a great share in the Australian market but due to poor management and bad corporate governance, they faced heavy losses which in turn lead their organizations to end up with liquidation procedure. Overall debts of companies had been therise and companies found themselves incapable of paying all the debts and lead the way of liquidation. These are the two components which are basically reason behind the failure of corporates. This is nothing but theonly negligence of their management and their poor management skills as well as their unethical behavior towards their work and the organization. Integrity is the basic and foremost feature for working in any corporate. Individuals having a higher position and authority are placed on a fiduciary stake where they cannot work for any personal bias and their individual interests. The report will help in identifying the possible reasonwhich leads to liquidation of these companies. The company may face three type of liquidation which could be compulsory, member voluntary and creditor voluntary.3 | Page
Financial Accounting Report | ABC, HIH & One Tel_3

Overview and analysisOverview of this assignment consists of 3 categories. The analysis of this report is based on the case study of the companies that faced insolvency has been discussed in this report. The foremostand basic reason behind the downfall and shutting down of these companies are given below-4 | Page
Financial Accounting Report | ABC, HIH & One Tel_4

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