Category Archives: Accounting

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  1. Discuss any managerial discretion available to the enterprises when devaluing/revaluing the non-current assets? (about 300 words)
  2. Name two types of firms that are more likely to choose to revalue the non-current assets and why they choose to revalue and provide example. (around 300 words).

 

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University

College of Business

ECON 201

Spring                                                                                         Name: ________________________

Fiscal Policy Questions (25 Points)                                           

Dr.                                                         Grade: ________________________

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 Please read chapter 13 on “Fiscal Policy, Deficits, and Debt” and answer the following 3 questions. Identify your answers clearly by using the numbers preceding the questions. Questions must be answered from the book. The book name is mcconnell brue flynn macroeconomics 20th edition.

                                                         

  1. Discuss the problems that government may encounter in enacting and applying fiscal policy?

 

 

  1. Discuss the size, composition, and consequences of the U.S. public debt.

 

 

 

  1. What are the Social Security and Medicare trust funds, and how long will they have money left in them? What is the key long-run problem of both Social Security and Medicare? What are some of the unpleasant options to restore long –run balance to both Social Security and Medicare?

 

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In analyzing the case, please respond to the following questions:

  1. Consider the following dates in the evolution of the Pentium chip flaw during 1994:

June 30:               Intel discovered the flaw

October 31:        Dr. Nicely posted information about the flaw on the Internet and started an active discussion group

November 24:   Article in Electrical Engineering Times appeared, a story has been broadcast on CNN and articles have appeared in the New York Times and Boston Globe

December 12:    IBM announces that it has stopped shipments of its computers with the flawed Pentium chip

At any of these dates, did Intel have a contingent liability as defined by FAS No. 5?

  1. At the end of the December 17 meeting, what should Intel management do? Should they expand their Pentium chip replacement program by (i) covering more individuals; and/or (ii) providing or paying for some or all of the (non-chip) incidental costs of replacing the defective chips?
  2. Independent of your answer in question 2, assume that in December 1994, Intel’s management decided to expand its program by offering to supply a replacement chip to all purchases of a defective Pentium chip, regardless of how they use it.  Intel will provide a new chip free of charge, but will not pay for any other costs.  What expense/liability should Intel reflect on its 1994 financial statements?
  3. How would your answer to question 3 change if Intel also offered to pay for the labor and direct incidental costs in addition to offering to supply a new chip to all individuals?
  4. After the December 17 meeting, how should Intel’s management communicate its decision to the financial markets? Should Intel file a form 8-K?
  5. On December 20, 1994, XYZ corp. had a chemical spill in a field adjacent to their factory.  They completed and paid cash for the immediate clean up prior to their December 31 year-end.  However, they have consulted with an environmental engineering firm that indicated that there is a 90% chance that XYZ will have to perform a further clean up in six months.  The cost of such a clean up would most likely be $100,000.  If the weather is perfect during the clean up, it could cost as little as $95,000.  On the other hand, there is a small chance that soil contamination could spread, increasing the costs to $150,000.  Should XYZ recognize a liability in their 1994 financial statements?  Assuming they do, what amount should be recognized?  How would XYZ record such a liability on their books? What impact would the subsequent cash payment have if the liability were settled for the amount accrued? What if the actual clean-up costs are more or less than was accrued in 1994?

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Retirement Planning at J&J Bagel


Retirement Planning at J&J Bagel

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You recently graduated from Suffolk University, and your job search led you to J&J Bagel, Inc.

As you are finishing your employment paperwork, Jerry Chen, one of the co-owners of J&J Bagel,

informs you about the company’s new 401(k) plan.

A 401(k) is a type of retirement plan, offered by many companies. A 401(k) is tax deferred,

which means that any deposits you make into the plan are deducted from your current income, so no

current taxes are paid on these deposits. For example, if your annual salary is $30,000 and you contribute

$1,500 to the 401(k) plan, you will pay taxes only on the $28,500 in income. No taxes will be due on any

capital gains or plan income while you are invested in the plan, but you will pay taxes when you withdraw

the money at retirement. You can contribute up to 15 percent of your salary to the plan. As is common,

J&J Bagel has a 5 percent match program. This means that the company will match your contribution

dollar-for-dollar up to 5 percent of your salary, but you must contribute to get the match. In other words,

if you contribute 5 percent of your $30,000 salary (which is $1,500) towards the 401(k) plan, J&J Bagel

will match your contribution by adding another $1,500 to your plan, so that $3,000 in total will be

contributed to your 401(k) plan.

The 401(k) plan has several options for investments, most of which are mutual funds. As you

know, a mutual fund is a portfolio of assets. When you purchase shares in a mutual fund, you are actually

purchasing partial ownership of the fund’s assets, similar to purchasing shares of stock in a company. The

return of the fund is the weighted average of the return of the assets owned by the fund, minus expenses.

The largest expense is typically the management fee paid to the fund managers, who make all of the

investment decisions for the fund. J&J Bagel uses Imperium Financial Services as its 401(k) plan

administrator.

Jerry Chen then explains the following retirement investment options available for employees:

  1. Company Stock. One option is stock in J&J Bagel. The company is currently privately held. The price

you would pay for the stock is based on an annual appraisal, less a 20 percent discount. When you are

interviewed by the owners, John Benson and Jerry Chen, they informed you that the company stock

was expected to be publically sold in three to five years. If you needed to sell the stock before it

became publicly traded, the company would buy it back at the then-current appraised value.

  1. Imperium S&P 500 Index Fund. This mutual fund tracks the S&P 500 Index. Stocks in the fund are

weighted exactly the same as they are in the S&P 500 Index. This means that the fund’s return is

approximately the return of the S&P 500 Index, minus expenses. With an index fund, the manager is

not required to research stocks and make investment decisions, so fund expenses are usually low. The

Imperium S&P 500 Index Fund charges expenses of 0.20 percent of assets per year.1

  1. Imperium Small-Cap Fund. This fund primarily invests in small capitalization stocks. As such, the

returns of the fund are more volatile. The fund can also invest 10 percent of its assets in companies

based outside of the U.S. This fund charges 1.7 percent of assets in expenses per year.

  1. Imperium Large-Cap Fund. This fund invests primarily in large capitalization stocks of companies

based in the U.S. The fund is managed by Jenna King and has outperformed the market in six out of

the last eight years. The fund charges 1.5 percent in expenses.

  1. Imperium Bond Fund. This fund invests in long-term corporate bonds issued by U.S. companies. The

fund is restricted to investments in bonds with investment grade credit rating. This fund charges 1.4

percent in expenses.

  1. Imperium Money Market Fund. This fund invests in short-term, high credit quality debt instruments,

which include Treasury Bills. As such, the return on money market funds is only slightly higher than

the return on Treasury Bills. Because of the credit quality and short-term nature of the investments,

there is only a very slight risk of negative return. The fund charges 0.60 percent in expenses.

1 The return on a mutual fund after accounting for management expenses is calculated as follows. If a fund charges 2

percent in expenses and it is expected to yield a 10 percent return before expenses, then the return on this fund after

expenses will be (1 + 0.10)×(1 – 0.02) – 1 = 0.078 or 7.8 percent.

QUESTIONS

  1. What advantages/disadvantages do the mutual funds offer compared to company stock for your

retirement investing?

  1. One can assess investment risk by looking forward to how assets are expected to react to a particular

set of circumstances or “states of economy”. Use the following set of assumptions for the coming

year to compute the expected rates of return (before expenses) and the standard deviations for the

mutual funds described above.

Expected Rate of Return (before expenses)

Scenario Probability S&P 500

Index Fund

Small-Cap

Fund

Large-Cap

Fund

Bond

Fund

Money

Market Fund

Recession 20% -12% -30% -10% 18% 2%

Near Recession 10% -8% -20% -6% 14% 3%

Normal 30% 12% 22% 12% 8% 4%

Near Boom 20% 22% 38% 15% -1% 5%

Boom 20% 36% 54% 20% -6% 6%

  1. Given the expected returns calculated for each of the mutual funds above, estimate the betas of these

funds. Assume a risk-free rate of 4 percent and the expected market return equal to the expected

return on the S&P 500 Index.

  1. If you decide to invest your money equally in the Small-Cap and Bond funds, what would your

portfolio’s expected return and risk level (standard deviation and beta) be? (Hint: Adjust mutual fund

returns for management expenses as explained in footnote 1.)

  1. What would happen if you were to put 70 percent of your portfolio in the Small-Cap fund and 30

percent in the S&P 500 Index fund? Would this combination be better for you?

  1. The returns of the Imperium Small-Cap Fund are the most volatile of all the mutual funds offered in

the 401(k) plan. Why would you ever want to invest in this fund? When you examine the expenses of

the mutual funds, you will notice that this fund also has the highest expenses. Will this affect your

decision to invest in this fund?

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CASE 2: Roxbury Manufacturing Company by Khursheed Omer


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CASE 2

Roxbury Manufacturing Company

by

Khursheed Omer

Roxbury Manufacturing Company is a privately owned business. Products manufactured by Roxbury had been doing very well until the year 2011. The last two years have seen a steady decline in sales and profit. If this declining trend continues, the company might come under financial distress. Income statements for the last two years are given below.

Year 1 Percent Year 2 Percent

Sales $ 4,000,000 100 $ 3,600,000 100

Less Variable Expenses $ 3,000,000 75 $ 2,700,000 75

——————————————————————–

Total Contribution Margin $ 1,000,000 25 $ 900,000 25

Less Fixed Expenses $ 500,000 $ 500,000

———————————————————————

Net Income before taxes $ 500,000 $ 400,000

==========================================

Mr. Creighton, the owner of the company is baffled that only a ten percent decline in sales has resulted in a twenty percent decline in profits. He asks you to explain to him how in spite of maintaining efficiency in operations by keeping variable expenses and contribution margin at the same percentage level, he has experienced a greater percentage decline in profits.

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ACCT-101; PRINCIPLES OF ACCOUNTING


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ACCT-101; PRINCIPLES OF ACCOUNTING

2nd ASSIGNMENT

Last Date for Submission 18thMarch 2017

Total of 10 Marks

 

Note: You are required to work in this assignment individually and you should use your own words to solve this assignment. If you cheat from your classmate or copy from any sources (Plagiarism), your assignment will be forward to the College with cheating code!

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Question 1:

 

You are the financial officer for N.A.E Fun Store, a retailer that sells toys for kids. The business owner, Abdullah recently reviewed the annual financial statements you prepare and sent you an email stating that he thinks you overstated net income. He explains that although he has invested a great deal in security, he is sure shoplifting and other forms of inventory shrinkage have occurred, but he does not see any deduction for shrinkage on the income statement. The store uses a perpetual inventory system. (3 marks)

Required:Prepare a two paragraphs memorandum that responds to the owner’s concerns.

 

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Question 2:

 

  • On May 11, Salam Co. accepts delivery of $30,000 of merchandise it purchases for resale from Hiyyah Corporation.With the merchandise is an invoice dated May 11, with terms of 3/10, n/90, FOB shipping point. The goods cost Hiyyah $20,000.
  • On May 11, when the goods are delivered, Salam pays $335 to Express Shipping for delivery charges on the merchandise.
  • On May 12, Salam returns $1,200 of goods to Hiyyah, who receives them one day later and restores them to inventory. The returned goods had cost Hiyyah$800.
  • On May 20, Salammails a check to Hiyyah Corporation for the amount owed. Hiyyah receives it the following day.

Required:

  • Please prepare entries that Salam Co. records for these transactions.(2 marks)(Note: Salam Company and Hiyyah Corporation use a perpetual inventory system.)

 

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Question 3

 

Use the following adjusted trial balance of Juffali Trading Est. to answer the below:
Juffali Trading Est

Adjusted Trial Balance

For Year Ended December 31, 2016


Account Title                                                                       Debit  Credit
Cash                                                                                     $7,000
Accounts receivable                                                             16,500
Office supplies                                                                  2,000
Trucks                                                                               170,000
Accumulated depreciation—Trucks                     .                                   $35,000
Land                                                                                     75,000
Accounts payable                                                                                        11,000
Interest payable                                                                                             3,000
Long-term notes payable                                                                            52,000
Common Stock                                                                                           10,000
Retained Earnings                                                                                     151,000

Dividends                                                                         19,000
Sales Revenue                                                                                           128,000
Depreciation expense—Trucks                                         22,500
Salaries expense                                                                60,000
Office supplies expense                                                      7,000
Repairs expense—Trucks                                      _11,000_         ____       
Totals                                                                                $390,000$390,000

 

 Required:

  • Prepare the Single-Step Income Statement as of December 31, 2016. (2 marks)
  • Prepare the Classified Balance Sheet as of December 31, 2016. (3 marks)

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Assignment help-FIN 415 Spring 2017 Homework Set 4


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FIN 415 Spring 2017 Homework Set 4

Please turn in page 3 only – Thanks!

Problem 1: Assume that the forward rate of a 1-Year long forward GBP is 𝐹1𝑈𝑆𝐷𝐺𝐵𝑃⁄=1.30. The amount of the contract is USD 250,000. What is the size of the contract?

Problem 2: The size of a 1-Year forward AUD (Australian dollars) is AUD 260,000 and the amount is USD 182,000. What is the 1-Year USD/AUD forward rate?

Problem 3: What is the profit/loss on a 1-Year long forward EUR at t=1 when 𝑋1𝑈𝑆𝐷𝐸𝑈𝑅⁄=1.11; 𝐹1𝑈𝑆𝐷𝐸𝑈𝑅⁄=1.22 and the size of the contract is EUR 350,000?

Problem 4: What is the size of a difference check on a 1-Year short forward GBP contract given that the size of the contract is GBP 500,000; the amount of the contract is USD 625,000; and 𝑋1𝑈𝑆𝐷𝐺𝐵𝑃⁄=1.30 ?

Problem 5: Assume that 𝑟𝐸𝑈𝑅=7% and 𝑟𝑈𝑆𝐷=4%. What is the 1-Year synthetic forward rate, given that 𝑋0𝑈𝑆𝐷𝐸𝑈𝑅⁄=1.16?

Problem 6: Today’s GBP/USD spot rate is, 𝑋0𝑈𝑆𝐷𝐺𝐵𝑃⁄=1.28. Assume that 𝑟𝐺𝐵𝑃=6% and 𝑟𝑈𝑆𝐷=4%, if the 1-Year USD/GBP forward rate is 𝐹1𝑈𝑆𝐷𝐺𝐵𝑃⁄=1.28, according to the Covered Interest Rate parity (CIRP), is the GBP underpriced/overpriced in the actual forward contract?
2
Problem 7: Based on the information in Problem 6, assuming that you can borrow 500,000 units in the synthetic forward position at t=0, what would your profit be from CIRP arbitrage (in USD)?

Problem 8: Assume that 𝑟𝐸𝑈𝑅=10%, 𝑟𝑈𝑆𝐷=3% and 𝑋0𝑈𝑆𝐷𝐸𝑈𝑅⁄=1.32. You want a long forward position in EUR 210,000 1-Year forward, i.e. receive EUR one year in the future. Your banker quotes you the following USD/EUR forward rate: 𝐹1𝑈𝑆𝐷𝐸𝑈𝑅⁄=1.22. Will you enter the actual forward contract or set up a synthetic forward position?

Problem 9: Assume you want a short position in AUD in a 1-Year USD/AUD contract. You calculate the synthetic forward at 𝐹𝑌1𝑈𝑆𝐷𝐴𝑈𝐷⁄=0.80 and your banker quotes you 𝐹1𝑈𝑆𝐷𝐴𝑈𝐷⁄=0.82. Do you choose the actual forward contract or the synthetic forward?
Problem 10: Compute the mark-to-market value of the following short forward NZD (New Zealand Dollar) contract. The size of the short position is NZD 450,000 and the forward rate is 𝐹𝑁𝑈𝑆𝐷𝑁𝑍𝐷⁄=0.66; the current spot rate (at time of valuation) 𝑋0𝑈𝑆𝐷𝑁𝑍𝐷⁄=0.64 . The NZD and USD interest rates are: 𝑟𝑁𝑍𝐷=9% and 𝑟𝑈𝑆𝐷=3%; assume the contract matures in two years from now (so at t=2).
Bonus Problem: Which of the following two statements is correct?
S1: According to CIRP, the spot price of the high interest rate currency is expected to appreciate.
S2: According to CIRP, forward rates and synthetic forward rates are the same.
a) S1 is true but S2 is false
b) S2 is true but S1 is false
c) Both statements are true
d) Both statements are false
3
FIN 415 Homework 4 Spring 2017 Name:____________________________________
Problem 1:
Problem 2:
Problem 3:
Problem 4:
Problem 5:
Problem 6:
Problem 7:
Problem 8:
Problem 9:
Problem 10:
Bonus Question:

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Case Study-Buy your research paper online [http://customwritings-us.com/orders.php]


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Question 1

Case Study: Making Vision, Mission and Values Meaningful

  • The vision is the dream, the aspiration for the future.
  • The mission is the purpose for being in business.
  • The values are those fundamental ethics and principles followed in business practices and guiding decision-making.

You recently worked with the leadership team of company Al tawfik. The newly appointed CEO recognized the need for a new focus and strategic direction. He also needed to use new methodologies for strategic thinking, collaboration and professional management.

This was preceded by an online survey which required responses to the following:

  • Choice of words that might best represent the company’s values.
  • Preliminary ideas using examples of vision, mission and values statements from industry giants and well-known companies to stimulate creative thinking.

In addition, participants were required to complete a behavioral intelligence assessment, including their  behavioral profile.

The first step was to work on the team-building, starting with a review of the behavioral profile. The underlying theme was to develop greater self-awareness. Most important to the team-building, each member of the leadership team shared results of their assessments. Reason for sharing? Discussion of personal characteristics with comments and feedback from colleagues and all about building trust. The importance was recognizing and respecting differences in style, and identifying opportunities for modifying behaviors to manage relationships more effectively. It worked and continues to work a few months later.

This was the first part of Leadership and Self-awareness program, followed by group discussions on leadership styles, characteristics, leadership versus management and case studies.

The online survey captured input in advance of the work session. All comments were circulated to executives prior to the meeting, together with existing vision, mission and values statements. Small groups worked the details and then presented to the full group for review, discussion and debate. The result – an outstanding set of statements, truly reflecting change and setting the parameters for the desired culture. An interesting by-product was the determination that “purpose” was a superior term to “mission,” since mission is all about the purpose for being in business. The intent? Focus on Purpose in planning, decision-making and determining priorities.

Next steps:

  • The draft statements were communicated to the entire organization.
  • The company’s marketing consultants refined the wording.
  • Leaders held meetings with all staff to discuss the relevance to each of them.
  • Posters were prepared with high visibility throughout the facilities.
  • The company values have been built into the core competencies portion of the performance review, highlighting accountability for demonstrating these values.

Following up a few months later, all managers participated in two days of training in Leadership & Self-awareness. This was supported by performance management training, including goal-setting, coaching skills, managing the difficult conversations, time management and meeting management. The underlying theme was reinforcing values and purpose. The rationale is obvious with importance lying in alignment and a consistent approach to key aspects of leadership and management.

Instructions

Analyze how the vision of the company is developed in this case and give additional examples of methods with which the vision of the company can be developed?

Discuss the interaction between the concepts of organizational vision, core competencies, Organizational strategies Operating plans and Actual operations?

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Question 2

 

Explain the difference between cost accounting and other branches of accounting?

  • 1 Difference between Cost Accounting and Management Accounting.
  • 2 Differences between Financial Accounting and Cost Accounting.

 

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Question 3

For a manufacturing company, total costs is the aggregate of total fixed costs and total variable costs.

In the following table you have the costs related to the different levels of activity.

Table 1

Total Costs

Output (Quantity produced) Fixed Costs Variable Costs Total Costs
0 10 0 10
1 10 12 22
2 10 20 30
3 10 26 36
4 10 30 40
5 10 32 42
6 10 34 44
7 10 40 50
8 10 48 58
9 10 58 68
10 10 72 82

 

Instructions

  • Analyze and discuss the cost behavior for this case?
  • What process is used to estimate future costs?

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  • Question 4

Discuss the effects of uncertainties and biases on decision quality? Give examples of uncertainties and biases?

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Case 5-1:Harrington Company- Buy your research paper oline [http://customwritings-us.com/orders.php]


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Case 5-1

  1. A. Harrington Company
  2. A. Harrington Company is a U.S.-based company that prepares its consolidated financial statements in accordance with U.S. GAAP. The company reported income in 2015 of $5,000,000 and stockholders’ equity at December 31, 2015, of $40,000,000.

The CFO of S. A. Harrington has learned that the U.S. Securities and Exchange Commission is considering requiring U.S. companies to use IFRS in preparing consolidated financial statements. The company wishes to determine the impact that a switch to IFRS would have on its financial statements and has engaged you to prepare a reconciliation of income and stockholders’ equity from U.S. GAAP to IFRS. You have identified the following five areas in which S. A. Harrington’s accounting principles based on U.S. GAAP differ from IFRS.

  1. Restructuring
  2. Pension plan
  3. Stock options
  4. Revenue recognition
  5. Bonds payable

The CFO provides the following information with respect to each of these accounting differences.

Restructuring Provision

The company publicly announced a restructuring plan in 2015 that created a valid expectation on the part of the employees to be terminated that the company will carry out the restructuring. The company estimated that the restructuring would cost $300,000. No legal obligation to restructure exists as of December 31, 2015.

Pension Plan

In 2013, the company amended its pension plan, creating a past service cost of $60,000. The past service cost was attributable to already vested employees who had an average remaining service life of 15 years. The company has no retired employees.

Stock Options

Stock options were granted to key officers on January 1, 2015. The grant date fair value per option was $10, and a total of 9,000 options were granted. The options vest in equal installments over three years: one-third vest in 2014, one-third in 2015, and one-third in 2016. The company uses a straight-line method to recognize compensation expense related to stock options.

Revenue Recognition

The company entered into a contract in 2015 to provide engineering services to a long-term customer over a 12-month period. The fixed price is $250,000, and the company estimates with a high degree of reliability that the project is 30 percent complete at the end of 2015.

231

Bonds Payable

On January 1, 2014, the company issued $10,000,000 of 5 percent bonds at par value that mature in five years on December 31, 2018. Costs incurred in issuing the bonds were $500,000. Interest is paid on the bonds annually.

Required

Prepare a reconciliation schedule to reconcile 2015 net income and December 31, 2015, stockholders’ equity from a U.S. GAAP basis to IFRS. Ignore income taxes. Prepare a note to explain each adjustment made in the reconciliation schedule.

 

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Buy your research paper Online-Financial forecasting & report


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MODULE TITLE:  INTRODUCTION TO ACCOUNTING & FINANCE

MODULE CODE:  4053BUSBM

Individual Written Coursework 1

Financial forecasting & report – 50% of the overall module mark.

Deadline: 17:00 on Thursday 9th March                       Feedback: by Thursday 30th March

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Format

Your report should be based on the scenario of the New Tasty Baked Bean:

You have developed a new tasty baked bean product, which you believe could revolutionise the baked bean market. The cost to produce a jar of the bake been is £1.10. After careful market research, you decide to sell it at £2.40 per jar, and you have set a 12 month sales plan.

Following on from the Dragon’s Den success stories – (search in BBC iPlayer if you are unfamiliar with this programme), you have decided to present a report to a small group of potential investors.

You know that any potential investor will expect you to have a good knowledge of how much your product will cost to produce and also of the expected level of sales and profit your product is predicted to make.

 

REQUIRED:

  1. Prepare a 12 months sales and production plan table (in unit and money measures), then use the following format to present the sale price, production cost and gross profit for your product on a ‘per unit’ base and a 12 month base.

 

  Per jar (£)   12 month (£)
Sales
Cost
Gross profit

 

 

 

 

  1. Produce the following financial documents for the first 12 months of trading:
    1. Cash Budget                            (month by month)
    2. Forecast Income Statement    (for the year)
    3. Forecast Balance Sheet          (for the year)

 

 

  1. Write a 1,000 word report to your potential investors to explain the financial data from tasks 1 and 2 above. This report should include the essential components of: Introduction, Main Section, and Conclusion.

 

The purpose of the report is to sell the idea of your new product to potential investors, and persuade them to invest. As this is an accounting and finance module, the emphasis must be financial.

 

Your potential investors will want to know what return they can expect on their investment. As a minimum they will expect you to provide details of the following:

  • forecast turnover & profit
  • forecast value of the business
  • forecast cash flow

You should refer to the data and financial documents from tasks 1 & 2 and include them in the form of appendices to your report.

 

NOTE:

 

Word count 1,000(+/- 10% is acceptable) and a word counts significantly less or more than this may be penalised. All calculations, tables, bibliography (or reference list) and appendixes are not included in the word count.

 

 

 

 

 

 

 

 

 

 

 

 

Submission

Submitting to Turnitin via Blackboard

You are required to submit your written assignment(s) online via Turnitinuk. You must put YOUR Student ID number (SID) as the Submission title. The coursework should have student number on each of the page.

All assignments must be submitted by 5pm on the due date.  Any late work will NOT be accepted and a mark of zero will be awarded for the assessment task in question.

 

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Referencing

In your assignment, you should ensure that you cite and reference all your sources properly, according to the Harvard convention.

If you have doubts about how to use this convention, refer to the document at http://www.citethemrightonline.com

You should include references to all cited sources in a single list at the end of the assignment.

 

Assessment criteria

The following tables are used to grade the elements of the work, as listed in the mark scheme.  The overall mark for the coursework will be based on the level at which the weighted majority of the areas are graded.

 

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4053BUSBM INTRODUCTION TO ACCOUNTING & FINANCE – COURSEWORK 1 – REPORT

Name………………………………………         Reg. No…………………             Marker……………………………  Date ………………………

Aspect Weighting Mark & Comments
Sales & Production plan – present price of sales, cost and profit per unit; prepare a statement for forecasted of 12 month of sales and production  

10%

<40% 40-49% 50-59% 60-69% 70%+
 

 

Financial Statements – produce Cash Budget, forecast Income Statement and forecast Balance Sheet

 

 

 

40%

<40% 40-49% 50-59% 60-69% 70%+
 

 

Explanation – comment on the links between concepts and application;

 

 

40%

<40% 40-49% 50-59% 60-69% 70%+
Presentation and structure

 

 

10%

<40% 40-49% 50-59% 60-69% 70%+
Total

(Note: this is 50% of the total module mark.  So, for example, if you get 60% for this work, that is only 30% of the overall mark for the module).

100% <40% 40-49% 50-59% 60-69% 70%+

 

 

 

Sales & Production plan
Below 40%

Unable to provide the required information and/or data. Information and/or data provided makes no sense.

40 – 49%

Some information and/or data are provided, but with constant errors. Information and/or data are not presented in accounting format.

50 – 59%

Information and/or data are provided, but with minor errors. Information and/or data are presented in accounting format.

60 – 69%

Information and/or data are provided correctly, but are not are presented in accounting format.

70%+

Information and/or data are provided correctly and clear. Presentation of accounting and financial data in a professional manner.

 

Financial Statements
Below 40%

Unable to prepare the financial documents.  Information and/or data presented makes no sense. The statements are not in the appropriate format.

40 – 49%

The financial documents are produced in appropriate format, but with some errors.   Some calculating and/or classification errors.

50 – 59%

Understanding the mechanics of the three statements. The financial documents are produced in appropriate format, but with minor errors.   Few calculating and/or classification errors.

60 – 69%

Good understanding the mechanics of the three statements. The financial documents are produced in appropriate format.   The balance sheet should balance.

70%+

The financial statements are produced correctly and in appropriate format. Clearly demonstrates understanding of the mechanics of the three statements and the links between.

Explanation
Below 40%

No demonstration that the financial information and/data are understood, or how it is used to acquire potential investments.

40 – 49%

Some attempt at showing the understanding, but not able to link major financial information to the application.

50 – 59%

Able to demonstrate how the major financial information can be translated into the funding practice, but not always logical & precise.

60 – 69%

Shows good grasp of the relevant understanding and precisely explains the financial information which can be the major factors for potential investors.

70%+

Clearly demonstrates the understanding of how financial information can be translated into the funding practice. Logical & precise explanation and discussion.  Provides insight and confidence.

 

Presentation & Structure
Below 40%

Unsatisfactory presentation of the work. The structure does not facilitate the logical progression of the discussion and potentially does not include all of the basic requirements.

40 – 49%

Basic but incomplete supporting materials are provided. The report has structure but does not fully embrace the requirements of a formal document.

50 – 59%

Adequate supporting materials provided. The work is structured in a way that is logical & appropriate, but without explicit guidance for the reader.

60 – 69%

Is written & presented very well, with all necessary supporting elements. There is a logical structure that is easy to follow & is coherent with the aim of the assignment.

70% +

Well written & presented in a professional manner. All fundamentals of good presentation are addressed. There is a logical structure, Written succinctly, and sign-posting and referencing is used throughout.

 

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