Project #20841 - business accounting

BA4002 – ASSESSMENT 2 –C/W REPORT- 2013/14

 

  • A REPORT OF BETWEEN 1,000 AND 1200 WORDS MAXIMUM BASED ON YOUR CURRENT 2013 YEAR FINDINGS WHICH WILL REQUIRE YOU TO PRODUCE A PROJECTED ACCOUNTS TO MANAGEMENT BY EVALUATING COSTS ON LABOUR, MATERIAL AND OVERHEADS AND PRESENTING THEIR RESULTS ON A CASH BUDGET FORECAST WITH BASIC FINANCIAL STATEMENT(Income statements & Balance sheet) – for 6 months or 12 months. ALL YOUR ANALYSIS MUST HAVE AN EXCEL DESIGN INPUT OF DATA/AREA AND AND OUTCOME OF REPORT- THAT IS ‘OUTPUT OF DATA/AREA.

 

  • CAUTION: MAKE SURE THE PRODUCT YOU CHOSE REFLECTS PRICE AND COSTS BASED ON UK 2013 MARKETS. THAT MEANS INDIVIDUAL STUDENTS WILL HAVE A UNIQUE/DIFFERENT PRODUCT STRUCTURE AND BUDGET FOR 2013 AND MUST NOT PLAGIARISE FROM OTHER STUDENTS. 

 

  • HOWEVER, SIMILARITIES MAY OCCUR ON SOME SIMILAR PRODUCT COSTS AND EXAMINERS ARE AWARE OF THIS ISSUES, FOR EXAMPLE: IF YOU ARE MAKING A BIRTHDAY/CELEBRATION CAKE, THE COST OF MATERIALS -(FLOUR,EGG,SUGAR,BAKING POWDER ETC.. MAY BE TIGHTLY NARROW DUE TO MARKET/COMPETITION. IT IS STRONGLY RECOMMENDED THAT YOU DIFFER YOUR COST AND REVENUE APPROACH TO MAKE IT UNIQUE FROM OTHER PRODUCTS. IN OTHER WORDS: YOU CHOOSE/MAKE THE PRODUCT THAT IS UNIQUE FROM OTHER COLLEGUES, GIVING YOU INDEPENDENT BUT MUST BE RELEVANT AND NOT OUT OF CONTEXT.

 

  • PLAGIARISM IS AN ASSESSMENT OFFENCE:

 

EXAMINERS ARE EXPERT IN THIS MATTER AND WILL BEAR NO SYMPHATHY ON STUDENTS JUST COPYING AND PASTING OR APPROACH FORMER STUDENTS FOR HELP. If in any doubt, speak to your seminar tutor

 

  • HAND IN DATE: DUE IN BY WEEK 14 FRI (17/01/14). Report and any other info. such as Excel spreadsheet- numerical and formula Excel sheet/s.

 

 

 

  • WHAT DO I NEED TO DO? - INTRODUCTION

 

-          Briefly discuss about the product you want to make/manufacture – by looking at the current 2013market (about half a page of A4 size, normal size font 12)

-          Examples: making a fancy chair, a cake, garment, and picture frames etc…again use CAUTION: you must chose a product that has a cost/revenue structure based on current year 2013.

 

FIND AN ESTIMATED COST OF MAKING YOUR CHOSEN PRODUCT(try and be realistic and use 2013 findings.):

 

 Costs of:

 

-           Labour

-           Material

-           Overheads (fixed costs like rent & other overheads if necessary – but keep       your approach basic)

-           Inflation cost: FOR YEAR 2013: It is anticipated that the inflation cost of between 1.05% and 1.85% will be added to labour and material costs during production. Here you make the recommendation to the management about rising inflation cost and its impact on your forecast.

 

  • Determine a reasonable selling price based on current UK 2013 market – it is anticipated that this will produce revenues for the next 6 months or 12 months.

 

Note: make that chosen product as you need for 6 months or 12 months – or produce all at once – usually the spread of variable cost is useful. Remember fixed costs are unlikely to change.

 

  • Sell your product at a particular price based on 2013 market – on a monthly basis, for 6 months or 12 months.
  • Determine profits/losses by calculating CONTRIBUTION over 6 months or 12 months.

 

USING BASIC EXCEL SKILLS:

 

-          Produce a six month table or 12 month table of cash flow forecast showing all the inflows and outflows & various totals for 6 or 12months. (for guidance, revise cashflow forecast done in weeks 1 and 2 – see Jane Khan or any other basic forecast from your text book and from seminar material)

-          SHOW FORMULAS FOR YOUR 6 MONTHS OR 12 MONTHS BUDGET.

-          PREPARE BUDGETED PROFIT AND LOSS -Income statements & Balance Sheet for the period ending 6 or 12 months, not monthly.

(guidance….say 1st of January to June 2014 – you choose your own time period –that is 6 months or 12 months but make sure it is based on 2013 market)

 

FURTHER GUIDANCE:

 

·         Use of bibliography/references is a MUST and must be acknowledged

·         YOU MUST KEEP A COPY OF YOUR WORK.

·         ALL WORKING SHOULD BE SHOWN

·         NO HANDWRITTEN WORK WILL BE ACCEPTED.

·         BRIEF GUIDANCE WILL BE GIVEN BY YOUR TUTOR – ONLY ONCE AND WILL NOT BE REPEATED.

·         You must keep a copy of your c/w report.

 

HOW TO SCORE GOOD MARKS?

 

·         Good use of English. Poor performance in English cannot be compensated – the standard of English should be such as to convey the intended meaning.

·         Demonstrate the basic depth of understanding your learning objectives as a non- accounting student.

·         Have covered all aspects of the assessment requirements- including current input of data which must also include the inflation cost on labour and material based on 2013 year.

·         Have analysed data in an appropriate manner which include costing and determination of budgeted cash forecast with income statement.

·         Chosen an appropriate product for consideration.

·         Have briefly discussed the given market(say half a page of A4)

·         Make appropriate use of bibliography/references/charts etc-with no direct copying.

·         Well organised piece of work with genuine effort.

 

                      

 

          POOR PIECE OF WORK:

 

·         Poor use of English.

·         Weak piece of work overall: poor understanding of c/w and its depth – no real relevance to current issues.

·         No evidence/poor of use of bibliography/references.

·         Weak on analysis/cashflow forecast/financial statements.

·         Brief work/rushed through

·         Not taken advice or attended classes properly.

·         No formulas used in Excel, just numbers typed in.

 

 

 

 

 

AND AS A BONUS, DON’T FORGET THE ORDER OF WORK AS FOLLOWS (you can also make your own but it MUST BE in good order)

·         Title

·         Introduction of your product….talk briefly on current 2013 market, say half a page.

·         Brief break-down of costs – that is: labour, material and other fixed costs..etc for 6 or 12 months -that also has impact from inflation.

·         Revenue from selling(sales) – ie budgeted sales for the next 6 or 12 months.

 

·         AND FINALLY PRODUCE BUDGETED CASHFLOW AND FINANCIAL STATEMENT

 

·         YOUR ANALYSIS ON FINDINGS ON EXCEL WILL HAVE 3 PARTS:

 

            -     INPUT OF DATA OR INPUT AREA

            -     OUTPUT OF DATA OR OUTPUT AREA

-     SHOW FORMULAS FOR ALL YOUR OUT PUTS        -         MAKE SURE EACH CELL HAS A FORMULA   NOT MANUALLY PERFORMED BUT VIA EXCEL.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DON’T FORGET TO REVISE THE FOLLOWING ALREADY DONE: remember this was done at the beginning – also examples in your book -

 

Following is just an illustration – cashflow table can be designed in several ways with weekly to monthly INFLOWS/OUTFLOWS, normally up to 6-12 months. You will be guided by your tutor:

 

LATER: You must practice this using excel and may be useful if you start working using excel at home to get some idea.

 

 

 

 

Inflows

 

 

 

Aug

£

Sep

£

Oct

£

Nov

£

Dec

£

Total Inflows

w

 

 

 

 

Outflows

 

 

 

 

 

 

 

Total outflows

x

 

 

 

 

Monthly surplus or (deficit)

 

w-x

 

 

 

 

Balance b/f

 

 

 

 

 

Final balance.

 

 

 

 

 

 

Good luck – from the teaching team

 

 

Subject Business
Due By (Pacific Time) 01/16/2014 12:00 am
Report DMCA
TutorRating
pallavi

Chat Now!

out of 1971 reviews
More..
amosmm

Chat Now!

out of 766 reviews
More..
PhyzKyd

Chat Now!

out of 1164 reviews
More..
rajdeep77

Chat Now!

out of 721 reviews
More..
sctys

Chat Now!

out of 1600 reviews
More..
sharadgreen

Chat Now!

out of 770 reviews
More..
topnotcher

Chat Now!

out of 766 reviews
More..
XXXIAO

Chat Now!

out of 680 reviews
More..
All Rights Reserved. Copyright by AceMyHW.com - Copyright Policy