ACCT11059 ACCOUNTING, LEARNING & ONLINE COMMUNICATION

Assignment One

Tanya Clark S0011207

Step Three – Company Overview & Backgroundaccesso Technology Group plc was founded in 2000 (formerly Lo-Q). Accesso has its main headquarters in Berkshire, England with 7 other offices worldwide and currently have clients in 27 countries. Accesso’s main business is to develop, install, maintain and provide support for its virtual queuing systems for amusement rides.

accesso Technology has 5 divisions. Some of the services provided by these divisions are as follows:

accesso LoQueue – Virtual queuing solutions (accesso Prism, Qsmart, Qband, Qbot)

accesso Passport – Ticketing suit (onsite, online)

accesso Sitiusware – Sales system (onsite ticketing, eCommerce, Point of Sale, Guest Management)

accesso ShoWare – Ticketing solutions (onsite, online)

Ingresso Group – Global distribution group

Accesso through acquisition can offer new and current customers queuing, ticketing, point of sale, guest management and builds products that can serve clients. Accesso has thought outside the box and are looking for opportunities to acquire complementary technologies to improve revenue and customer service for their clients.

accesso Technology Group is listed on the AIM (Alternative Investment Market which is the London Stock Exchange).

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ACCT11059 ACCOUNTING, LEARNING & ONLINE COMMUNICATION

Annual Report Overview

The 2016 Annual report and financial statements for accesso Technology Group plc shows an increasingly strong position from 2015 to 2016 with a revenue increase of +10.0%.

Many contributing factors made up this positive result. Some of them being; increase in new clients, development and succession planning of their people (right people in the right positions), maintaining current clients, development of new products and services and payment of dividends to shareholders lower to invest back into the company for future product development.

Scratching at the surface of the annual report (yes, mine was a lengthy 63 pages) it looks as though the company is in a good positon financially. I did ask myself a few questions throughout my review; Are all the divisions doing well? Is there 1 division that is a cash cow (constant negative result)? If one is the cash cow what action plan does the company have in place to turn this into a positive? Do they have enough experienced employees to handle their forecasted growth over the next 12 months?

http://s3.amazonaws.com/accesso.com/documents/2016-accesso-Annual-Report-Financial-Statements.pdf?mtime=20170427104833

Related Information

http://accesso.com/

https://en.wikipedia.org/wiki/Accesso

http://www.theticketingbusiness.com/2017/07/17/accesso-acquires-theme-park-software-company-te2-80m/

http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB0001771426GBGBXASQ1.html?lang=en

https://www.icaew.com/en/library/subject-gateways/accounting-standards/knowledge-guide-to-uk-accounting-standards

https://www.youtube.com/watch?v=F_I7lxuyRZE

https://www.youtube.com/watch?v=ZS2GvfFq6jw

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ACCT11059 ACCOUNTING, LEARNING & ONLINE COMMUNICATION

Reflection

My Company – Accesso Technology Group

When I was assigned my company in week one I was excited and nervous at the same time. I did a google search on the company and found a lot of similarities to my own company that I work for. I thought ‘you little ripper’ I could relate to this with ease and gain more understanding of a Technology company, not just mining. As my research continued I started to become overwhelmed with the length of the financial statements and what was expected of me. I must admit I did do the wrong though and read the 2016 annual report word for word and thought I am not going to get this finished by the due date. Take a step back I told myself, took a deep breath and re-read the expectations in the assignment 1 and changed my focus to the need to know information.

Feedback and 3 Favourite Blogs

https://izzyg2017.wordpress.com/2017/07/19/company-background-and-industry/

https://amandamccoombes1styearaccounting.wordpress.com/2017/07/20/anpario-my-listed-company/comment-page-1/#comment-17

https://katesaccountingstudy.wordpress.com/2017/07/21/my-company-galaxy-entertainment/comment-page-1/#comment-38

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