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BUS1AFB Accounting And Finance For Business
Question:
General information and requirements
Each question provides a guide as to the approximate word length of each answer. It is recommended you are close to these limits, but you do not need to achieve them exactly. I have allowed slightly more words than is allocated in the course as this is actually easier for students. Any student that is at the lower end will not be penalised provided the question has been fully answered.
Any assignment where the answers (not including Cover Page, Table of Contents, Headings and References) are over 1500 words will be marked down. The 1500 word limit includes the additional +10%.
All submissions must be typed in a minimum 11 font, with 1.5 line spacing using word and submitted via the Turnitin link on LMS as a pdf file. Please refer to the online marking rubric for marking guidance.
Question 1 (5 marks)
You are the manager of Fantastic Fencing who are in the business of selling fencing and landscaping to high end customers. At 1 April 2021, the business had a bank balance of $75,000. Provided below are estimates for receipts and payments for the three months ending 30 June 2021. Credit Sales are received as follows
a) You are to prepare a monthly Cash Budget for the three months ending 30 June 2021 to calculate an expected cash at bank figure which your accountant will review. Please ensure you include an overall total column and show all your workings as marks are allocated between workings and the final answer. Note: It is recommended you compile your cash budget in excel and copy it into your word report.
b) Explain the importance of the Cash Budget to the business and how it helps the business to manage its finances.
c) Based on the budget you have compiled, draw an overall conclusion as to the current cash position of Fantastic Fencing. This answer will be reviewed based on the calculations you have compiled so please ensure your answer is consistent with your figures. Fantastic Fencing April May June
Question 2 (5 marks)
Given you are constrained to your house due to Covid-19, you have decided to try and launch your own small business.
a) Design a small business and document one key product that you are selling. Name your business and product with a brief description of its purpose. In a table (please use the one below) list a maximum of ten costs that will be involved in selling your product and explain why they are either a variable or fixed cost and their unit value. Name of Cost Fixed/Variable $Value per item Explanation as to why fixed or variable
b) Estimate a reasonable selling price per unit for your product with an explanation as to how you determined your selling price.
c) Using your figures calculate your Breakeven Point, in both units and dollars ($) showing all calculations.
d) State whether you require a profit of either $5,000, $15,000 or $30,000 p.a. and then calculate your new breakeven point, in both units and dollars ($) showing all calculations. Note: only select one required profit.
e) Define and calculate the Margin of Safety, in both units and dollars ($), assuming you sell 35,000 units. Ensure you include all calculations.An example of a business could be “Keep Your Pets Happy” with your specialty being home delivered chew toys for dogs. Your product is “Chewy the Bone” and some example costs are purchasing two parts to make the toy, electricity to run your business in your shed, internet to be able to take your orders, petrol costs to run your car for delivery. Please keep this reasonably simple to demonstrate your knowledge. I do realise there are many more costs involved but you do not need to list everyone, up to ten is what I am looking for to maximise your mark.
Question 3 (8 marks)
Your business is considering installing solar panels to reduce the electricity account of your business and to be more environmentally conscious. You have determined a system that generates 50KW per hour is appropriate however, you are not sure whether to go ahead. You have obtained a number of quotes which you have narrowed down to Company A or Company B. Each solar company has provided you with the following 20 year financial summary data:
a) Explain the 3 methods listed above.
b) Determine and list the decision rule that applies for each method (you need to decide a reasonable number) and include one advantage and one disadvantage of each method, but do not repeat advantages or disadvantages.
c) Review the results individually, compare them with your estimated decision rule, and determinewhether you can individually accept the proposed project for each method.
d) Explain the relationship between risk and return. Using the data above briefly explain the risks and return.
e) Draw an overall conclusion as to whether, based on the three methods, you would recommend the project go ahead.
f) If the CEO told you that the company had decided to go ahead with the project regardless of your findings in (e) above, state whether you would employ Company A or B to undertake the required work and why.
g) The CEO has asked you to explain the different sources of finance the business could access to raise the money to pay for the solar panels. Please ensure you include one type of long-term debt finance, one type of equity financing and one new funding opportunity that you may seek and why.
BUS1AFB Accounting And Finance For Business
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