Finance And Accounting For Nonfinancial Managers

Importance of research done by BSF Ltd.

Discuss about the Finance and Accounting for Nonfinancial Managers.

The awareness created regarding the impression of the environment is on an increase throughout the world. The business firm focuses on the stress afforded with creating efficient measurements for creating appropriate impact of environment for the firm. This can evade the avoidable legal matters, which delays the development of the business firms and can also set up the company as an environmental affable corporation. Apart from this, in an array to establish an environment friendly firm and to develop the prosperity the organizations apply much labour on the research and development sector (Sarker et al., 2016). This enhances the excellence of the manufactured goods as well as at the same time they are lucrative and environment friendly. In this provided case study, the company which is undertaken for the appropriate completion of report is known as Bio-sustainable Feed (BSF). The so called company produces the food for the fishes. The sustainable method is undertaken for producing the effective method for the production of feed for the fishes. The importance is focused on the research which helps in the enhancement of the sector (R., 2016). Henceforth it helps the company in renovating the products which indicates not only the purpose of making money but also the renovation of the products. the company also helps in improving the product for the purpose of making it an environment friendly material with the purpose of lowering the cost of production.

In the above mentioned company it has been clearly seen that the Bio-Sustainable Feeds offers immense importance on their actions based upon CSR.  For the commencement of the company in the field to improvise the sustainability of the firm, the organization has put immense endeavours towards the sector of research and development. In addition to it, the research and development sector is continuously working for the improvement of the products so that may have minimal impact on the environment (Wolf, 2008). The company is even trying to reduce the use of the resources obtained from the nature and is mainly dealing with the wastage materials from where the products or the necessary items can be produced easily. In this way the company is helping the society in two ways, one is that the use of huge amount of natural resources are decreasing and apart from this the waste materials are also getting reduced from the environment and hence helps in giving rise to a clean and healthy society. In this way the so called company has established itself as an eco friendly company for not only the society but also for the environment. From the research analysis it was found that the company is always in a try of using the left over residues of the sugarcane and wooden chips (Stittle and Wearing, 2008). Apart from using these natural resource materials , the other materials which are of use to this company is methane gas which is collected from the wastes, garbage, sewage and the food processing companies. So it can be seen that the company is using the waste products to a greater extent whereas reducing the use of the valuable natural resources. Apart from this the company is also avoiding the materials which are mainly required by the magnificent fishes because it is against the acceptance of the poor people of the society. These positive aspects helped the company in gaining social acceptance in the company. The business measures used by the company are to promote about the various eco-friendly practices that are being implemented by the company, which are not only reducing the wastage of the society but are proving to become a boon for the society. The company has made its name in the list of companies as an eco-friendly and environment aware organization (Holton, 2012). The various strategies followed by the company has helped the company in gaining name and fame in the society. Therefore these measures which have been taken have not only improvised the quality of the productivity but have also improved the profit making scenario of the company in an efficient and valuable way.

Problems faced by the BSF Ltd during their early research analysis

The research made by the BSF Ltd in the beginning was conducted upon the fish culture feeds and was based mainly upon the plant based food products. But coincidently they failed in gaining success in the research. Thus, they again initiated in searching an alternative for the proposed research. The fish breed which survived on the plant based products was supposed to solve the issue of the fish based feed, by converting the productivity from 10kg of low fish value to 1kg high fish value whereas the conversion rate was 30kg of feed based on plant to 1kg of high fish value (Chung, 2016). 1/3^rd of the fish were found to be dead in the research conducted, and the number of mature fishes was found to be less but the growth time was doubled. The mechanism of changing excellent food corps into magnificent fish is simply a diversion of low fish value into production. This process just benefitted the high class people but the poorer section of the society simply suffered from malnutrition (B. Rust, 2011). The fish fed or aqua fed production contained high nutritional values like omega 3 fatty acid. This element produces superior quality fishes which were only for the rich people whereas the poorer sections were deprived of it. Thus the company is on its way to find alternatives so that they might not face any objections from the wide range of the society comprising of both the higher and lower section of the society.

The research is a procedure which is ventured in a scientific method; with in that way constitute the bias and the subjectivity that must be ignorable. The research procedure must incorporate the principles and the various tools with styles, when that is implemented on the topic must give the suitable results (Bowen and Aragon-Correa, 2014). The process and the styles are also vital for implementation researches that incorporate the procedure with the logical and the sequential process. The practical examples regarding the sequential and the logical process are identified for the research conducted by the individual. The control amount and the rigidity are represented through the conduction of the research and thus make difference in one’s regulation.

The growth of the research helps in depicting the distinct implementation process by which the organization gets benefitted and thereby a state of equilibrium is created for the organization with depicting the alterations. It provides that the pathway for the enhancement of the product shapes and thus the development and the enlargement of the corporation experiences are fixed in this case learning (Droms & Wright, 2010). The innovative methods are continued for the purpose of enhancement of the research with determining the well being of the organization and thereby the ethics is maintained with viewing the regarded case study

Discuss the nature and differences research and research development

With the consideration of differentiation of the research and research development, it depicts the creation and the implementation of the process for innovating new product. The company BSF Ltd provides the bio-sustainable environment with creating the enhancement of the bio-sustainable feeds in the organization (Horngren, 2013). The processes are implemented for the enhancement of the organization which helps it to achieve a sustainable environment for the research and thereby preparation of the researches is made accordingly (Kew & Watson, 2012). The considerations are created with implementing the control strategies for the growth of the organization and thereby the improvement of the system is focused in a systematic chain implementation process.

The most precious on which the organization focuses represents the appropriate valuation in order to stay in the long run of market competition. Thus the only path to keep the long run   competition benefit is to protect the new ideas and prohibit other constitutions to use to them. Patents give businesses a path to stay their new ideas protected from other corporation. Patents are the positive aspect for the corporations and it is important to estimate the patent value. It is an indescribable asset provided in the balance sheet (Marek, 2008). The examination of using bacteria helps in generating feeds for fishes from sugar cane, wood chip or obtain methane gas becomes an innovative and creative idea for BSF Ltd. The price that was assumed for carrying out research was $160 million AUD and the other price of $200 million AUD for creating patent in order to publish the patent in the market with security. The Commonwealth Scientific Industrial Research Organization gave $700 million to BSF Ltd and it determines total of $500 million AUD on examine and $200 million in the improvement in order to improve the aquaculture food from the research (Tacon & Metian, 2008). The innovative idea created by the company helped to generate patent for two years and thereby the value will increase up to $ 700 million AUD. The reduction rate of the project is 8% p.a. The market price patent of BSF Ltd is $700 AUD. The companies’ new ideas will assist to increase the price in the market and growing its goodwill. Patent will assist to give a legal right to defend its exclusive idea. The firmness and estimation of market price of a company assist to determine the development of a company.

Particulars	Debit ($)	Credit ($)
Grant	500
Commonwealth Scientific and Industrial Research Organization		500
Alternative aquaculture feeds	100
Cash		100
Research	500
cash		500
Development cost	200
cash		200
Patent	700
Cash		700

Patent hypothesis and computation for Fair Value Market

In this particular case study, the company BSF   Ltd receives allowance from the Commonwealth Scientific Industrial Research Organization of amount $ 500 million. The $100 million AUD   on other aqua culture   feeds a year spend by    BSF ltd .the corporation exhausted an sum of $500 million on investigate   and  spend approximately $200 million in the growth of other   aquaculture feed    so  the corporation expanses sum amount of $700in the study and growth of the assignment. As of the year 2013 to 2016, the company’s expenses are incurred which are provided in the above journal entry. The  allowance accepted from CSIRO has been properly   used  with  corporation in the study  and growth   of the other  aquaculture feed  (White, Dworjanyn, Nichols, Mos, & Dempster, 2016).The deal in the   assignment will support to enlarge value and expand  brand name in the bazaar .official document is valued on the source of promotion of the feed in two year. The important thing is explain the patent of the book to the companies. The survey of   official document shows the importance of the new idea.  The venture   in the other   aquaculture feed will support the corporation to developed o new idea .In Success of the company will come for the sector of research and development. The calculation seems to be dependent on the different variables of the company with the consideration of the total expenses which are presented in the case of the research. The preparation of the journal entries indicates the total expenses and the cash spend by the company helps in the creation of success for the cash spend and the total expenses made during the year 2013 to 2016 by the company (Tacon & Metian, 2008). The grant amount that seems to be received by the CSIRO has been made in order to make enhancement in the field. The important need of accounting denotes the data and transactions collection, evaluation and storing for the organization over the particular period of time.

The BSF Ltd   management gives the respect in allowing for the booklet of the official documents. The control procedure shows the proper usage of the bio sustainable feeds.        The appropriate usage of the control strategies helps in the enhancement of the research made and thereby the appropriate usage of the research is depicted in this case which helps in the enhancement of the strategies for the preparation of feeds for the fishes. The procedure used for analysis is given below:

For preparing feeds for the fishes, the bio sustainable components must be utilized.

For the production of fish, the research of high definition food should be taken into contemplation.

The suitable materials which are utilized in the research depict the exterior part of plant, wastages that are related to the plant and the methane gas which are utilized for the research.

The improvement of the other farming feed is necessary for the development of fish. The proper control measures make a   limited control environment .The control agency show the improvement of the chronological feed process. The problems that are represent can be easily evaluate by the help   of the control measures.

References

Rust, M. (2011). The Future of Aquafeeds. [online] https://www.nmfs.noaa.gov/aquaculture/docs/feeds/the_future_of_aquafeeds_final.pdf. Available at: https://www.nmfs.noaa.gov/aquaculture/docs/feeds/the_future_of_aquafeeds_final.pdf [Accessed 16 Sep. 2016].

Chung, E. (2016). ‘Greener’ fish farming could lead to unhealthier seafood. [online] CBC News. Available at: https://www.cbc.ca/news/technology/aquaculture-feed-1.3262922 [Accessed 16 Sep. 2016].

R., L. (2016). [online] Available at: https://sciencenordic.com/fish-feed-research-may-helpreduce-world-hunger [Accessed 16 Sep. 2016].

Sarker, P., Kapuscinski, A., Lanois, A., Livesey, E., Bernhard, K. and Coley, M. (2016). Towards Sustainable Aquafeeds: Complete Substitution of Fish Oil with Marine Microalga Schizochytrium sp. Improves Growth and Fatty Acid Deposition in Juvenile Nile Tilapia (Oreochromis niloticus). PLOS ONE, 11(6), p.e0156684.

Holton, R. (2012). Global finance. Abingdon, Oxon: Routledge.

Stittle, J. and Wearing, B. (2008). Financial accounting. Los Angeles: SAGE Publications.

Wolf, M. (2008). Fixing global finance. Baltimore, Md.: Johns Hopkins University Press.

Bowen, F. and Aragon-Correa, J. (2014). Greenwashing in Corporate Environmentalism Research and Practice: The Importance of What We Say and Do. Organization & Environment, 27(2), pp.107-112.

Droms, W. & Wright, J. (2010). Finance and accounting for nonfinancial managers. New York: Basic Books.

Horngren, C. (2013). Accounting. Frenchs Forest, N.S.W.: Pearson Australia.

Kew, J. & Watson, A. (2012). Financial accounting. Cape Town: Oxford University Press.

Marek, P. (2008). Financial Crisis, Fall and Financial Theory. European Financial And Accounting Journal, 2008(4), 4-5. https://dx.doi.org/10.18267/j.efaj.86

Tacon, A. & Metian, M. (2008). Global overview on the use of fish meal and fish oil in industrially compounded aquafeeds: Trends and future prospects. Aquaculture, 285(1-4), 146-158. https://dx.doi.org/10.1016/j.aquaculture.2008.08.015

White, C., Dworjanyn, S., Nichols, P., Mos, B., & Dempster, T. (2016). Future aquafeeds may compromise reproductive fitness in a marine invertebrate. Marine Environmental Research. https://dx.doi.org/10.1016/j.marenvres.2016.09.008.