Accounting & Finance - Coursework Assignment

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ACC4A8 – Accounting & Finance

Coursework Assignment - Resit

Scenario:

You are planning to set up your own small business but you only have £50,000 in cash to use as start-up capital. You will need to prepare a business plan in order to raise the additional finance that will be required to meet your budgeted operations. You may assume that you can borrow what you need from your bank at a given rate of interest.

Part of your business plan involves drawing up the following 12-monthly budgets to underpin your proposed business activity & to persuade your bank manager to lend you the required funds.

Key points (marks will be deducted if these points are not followed):

a) Your business must make one product only

b) You must manufacture this product (this means you can’t provide a service)

c) You must have closing stock of finished product which should be valued correctly.

d) Your product must require at least 2 materials to make and you need closing stock of these materials.

e) You must employ people to make the product (labour)

f) You must borrow some money from the bank.

Required:

1. Table of Assumptions made, basis: Management Accounting principles

2. Capital Expenditure (Fixed Assets) Budget

3. Sales Budget

4. Production Budget

5. Labour Budget

6. Purchases Budget

N.B.:- All assumptions made in estimating your figures must be reasonable and clearly stated in a table in your introduction to this assignment. It is imperative that all budgets have a total column for the 12-month period.

· Your business plan must be word processed (show word count, max. 5000 ex.)

· You must use spreadsheet(s) in Appendices with formulae correctly applied for each of 2 – 6 above.

· This coursework containing the word document and excel spreadsheets should be submitted via email on or before Friday 5th of July 2019. Please submit to the following two email addresses obiosan@regents.ac.uk and mcfadzeanb@regents.ac.uk

Marking Guide:

1. Table of Assumptions made, basis: Management Accounting principles 15%

2. Capital Expenditure (Fixed Assets) Budget 10%

3. Sales Budget 10%

4. Production Budget 10%

5. Labour Budget 10%

6. Purchases Budget 20%

7. Quality of Presentation and use of Spreadsheet Formulae 10%

8. Consistency of Inter-relationship between Budgets 10%

9. Word count/References/Bibliography 5%

100%

Please note that for each of the components above, the maximum mark will only be awarded if the calculations are complete, correct and appropriately presented.