Budgeting and forecasting

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Student Project Activity – Week 1

A. Week 1: Section 1.0 Executive Summary

B. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget.

C. Project Activity Overview – Scenario / Summary:

You have been asked to create a budget proposal for one of these businesses: Papa Geo’s Restaurant, The Cutting Edge Landscaping, or Wireless World Electronics Retail Store. This week you will begin working on the proposal by drafting the Executive Summary.

Use the Budget Proposal Template.docx.

D. Deliverables:

Save the first paragraph of Section 1.0 Executive Summary Draft as YourName_Project_WK1.docx and upload to the Week 1 Project Dropbox.

E. Project Tasks:

Task 1:	Download the Budget Proposal Template.docx from DocSharing.
Task 2:	Download the Course Project Description.docx. from DocSharing.
Task 3:	Review the three different business scenarios.
Task 4:	Select the business for which you will create a budget proposal.
Task 5:	Draft the first paragraph of the Section 1.0 Executive Summary.
Task 6:	Save the Draft and submit to the dropbox.

F. Grading Criteria

Description	Suggested Points
The business is briefly described in one paragraph.	3
The business description is in your own words.	3
The business description appears in the Executive Summary section of the Budget Proposal Template.	2
The business description is one of the three businesses described in the business profiles.	2
Total Points	10 points

END OF WEEK 1

Student Project Activity – Week 2

G. Week 2: Budget Proposal Section 2.0 Sales Forecast

H. TCOs Addressed:

TCO 5: Given a new business startup or new product introduction and the need to make a forecast when historical data is not available, create the forecast for the organization. TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget.

I. Project Activity Overview – Scenario / Summary:

Last week, you selected a business for which you’ll make a budget proposal. Your first step is to create a sales forecast (in sales dollars) when no historical data is available. Use methods such as historical analogy, expert judgment, consumer surveys, the Delphi method, or calculations based on population distributions, estimated growth rates, or expected market penetration rates to arrive at reasonable sales figures for your business for the next 5 years.

Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx.

J. Deliverables:

Complete Section 2.0 (including sections 2.1 and 2.2) in the Budget Proposal Template.docx after doing research and performing calculations to arrive at your 5 year forecast. Also, provide calculations in the Budget Proposal Workbook.xlsx.

Add section 2.0 to your Budget Proposal Template and save it as Project_WK2.docx. Save your sales forecast in the worksheet tab labeled Section 2.1 and 2.2 as Worksheet_WK2.xlsx and upload both files to the Week 2 Project Dropbox.

K. Project Tasks:

Task 1:	Download Budget Proposal Workbook.xlsx from DocSharing.
Task 2:	Research the area in which your business is located, and do calculations in the Excel workbook which produce a reasonable dollar value forecast based on population size, growth rates, an estimate of the percent of the population expected to purchase your product, and the dollar value of the average sale over the 5 year planning horizon. Do these calculations in the Section 2.1 and 2.2 tab of the Budget Proposal Workbook.xlsx. Also, feel free to use other methods described in this course you feel are appropriate to estimate sales for your new business startup’s first five years.
Task 3:	Write section 2.1 and 2.2 of the Budget Proposal Template.docx document, summarizing your forecast in a table, and also describing and justifying your methodology for arriving at the sales forecast. Follow the instructions in section 2.0 of the Budget Proposal Template.docx when writing these sections. Also, update your works cited Section 6.0 in the template with any research you did.
Task 4:	Paste the first paragraph of the 1.0 Executive Summary template into the Budget Proposal Template.docx so your professor is reminded which business you’re doing.
Task 5:	Save the draft of the Budget Proposal Word document and Budget Proposal Excel calculation and submit it to the Week 2 Project Dropbox.

L. Grading Criteria

Description	Suggested Points
There is a 5 year sales forecast in the Word document Section 2.1 and the Excel spreadsheet (in sales dollars).	2
The 5-year forecast appears to be based on research, reasonable assumptions, and methodologies described in the course based on the description in section 2.2 of the template.	4
The 5-year forecast calculations appear to be correct.	4
Total Points	10 points

END OF WEEK 2

Student Project Activity – Week 3

M. Week 3: Section 3.0 Capital Expenditure Budget

N. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget.

O. Project Activity Overview – Scenario / Summary:

Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx to develop and present a Capital Expenditure Budget for your new business startup.

P. Deliverables:

Complete Section 3.0: Capital Expenditure Budget in the Budget Proposal Template.docx after doing research about expected capital expenditures. Also, provide calculations in MS Excel template tab 3.0 in the Budget Proposal Workbook.xlsx.

Add section 3.0 to the Budget Proposal Template and save as Project_WK3.docx. Add your Capital Expenditure Budget to the worksheet tab labeled Section 3.0 and save as Worksheet_WK3.xlsx and upload both files to the Week 3 Project Dropbox.

Q. Project Tasks:

Task 1:	Identify items considered capital expenditures for the new business startup.
Task 2:	Do research to estimate costs of these capital expenditure items.
Task 3:	Create a capital expenditure budget in the Excel Template Tab labeled Section 3.0 Capital Expenditure Budget.
Task 4:	Add Section 3.0 of the Budget Proposal Template word document. Make sure the first paragraph of your Executive Summary Section 1.0 and Sales Forecast Section 2.0 are also in the Budget Proposal Template. Also, update your Section 6.0 Works Cited as necessary.
Task 5:	Save the Excel and Word documents, and submit them to the Week 3 Project Dropbox.

R. Grading Criteria

Description	Suggested Points
Capital Expenditure Items have been correctly identified.	3
Costs of these items appear reasonable and based on primary research.	3
The Capital Expenditure budget is properly constructed in the Excel Template and calculations appear correct.	2
The Capital Expenditure section of the Word template is complete and correctly describes the capital expenditure budget and its underlying assumptions.	2
Total Points	10 points

END OF WEEK 3

Student Project Activity – Week 4

S. Week 4: Section 4.0 Investment Analysis

T. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget.

U. Project Activity Overview – Scenario / Summary:

Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx to develop and present an Investment Analysis for your new business startup.

V. Deliverables:

Complete Section 4.0: Investment Analysis. Also, provide calculations in MS Excel template tab 4.0 in the Budget Proposal Workbook.xlsx.

Add section 4.0 to the Budget Proposal Template.docx and save it as YourName_Project_WK4.docx. Also add Section 4.0 to your Budget Proposal Workbook.xls and save it as YourName_Worksheet_WK4.xlsx and upload both files to the Week 4 Project Dropbox.

W. Project Tasks:

Task 1:	Complete Section 4.0 of the Budget Proposal Workbook.xls and the Budget Proposal Template.docx.
Task 2:	Save the Excel and Word documents, and submit them to the Week 4 Project Dropbox.

X. Grading Criteria

Description	Suggested Points
The cash flows show detailed inflows and outflows, as well as net cash flows.	3
The NPV Analysis is properly calculated and presented.	3
The Rate of Return calculations are properly calculated and presented.	2
The payback period is properly calculated and presented.	2
Total Points	10 points

End of Week 4

Student Project Activity – Week 5

Y. Week 5: Section 5.1: Pro Forma Income Statement

Z. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget

AA. Project Activity Overview – Scenario / Summary:

Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx to develop pro-forma income statements for the new business.

AB. Deliverables:

Complete Section 5.1: Pro-Forma Income Statements. Also, provide calculations in MS Excel template tab 5.0 in Budget Proposal Workbook.xlsx

Add section 5.1 to the Budget Proposal Template.docx and save it as Project_WK5.docx. Also add Section 5.1 to your Budget Proposal workbook.xls and save it as Worksheet_WK5.xlsx and upload both files to the Week 5 Project Dropbox.

AC. Project Tasks:

Task 1:	Add Section 5.1 of the Budget Proposal Workbook.xls and the Budget Proposal Template.docx.
Task 2:	Save the Excel and Word documents, and submit them to the Week 5 Project Dropbox.

AD. Grading Criteria

Description	Suggested Points
The Pro-forma income statement is properly constructed in contribution format.	3
Other necessary supporting budgets are also present and all calculations are correct.	3
The sources of figures in the pro-forma income statement and assumptions are identified.	4
Total Points	10 points

End of Week 5

Student Project Activity – Week 6

AE. Week 6: Section 5.2: Pro Forma Cash Flow Statement

AF. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget

AG. Project Activity Overview – Scenario / Summary:

Use the Budget Proposal Workbook.xlsx Budget Proposal Template.docx to develop pro-forma cash flow statements for the new business

AH. Deliverables:

Complete Section 5.2: Pro-Forma Cash Flow Statements. Also, provide cash flow statements and other supporting budget calculations in MS Excel template tab 5.0 in Budget Proposal Workbook.xlsx

Add section 5.2 to the Budget Proposal Template.docx and save it as Project_WK6.docx. Also add Section 5.2 to your Budget Proposal workbook.xls and save it as Worksheet_WK6.xlsx and upload both files to the Week 6 Project Dropbox.

AI. Project Tasks:

Task 1:	Add Pro Forma Cash Flow statements to Section 5.0 of the Budget Proposal Workbook.xls and the Budget Proposal Template.docx.
Task 2:	Save the Excel and Word documents, and submit them to the Week 6 Project Dropbox.

AJ. Grading Criteria

Description	Suggested Points
The Pro-forma cash flow statement is properly constructed.	3
Other necessary supporting budgets are present and all calculations are correct.	3
The sources of figures in the pro-forma cash flow statements and assumptions are identified.	4
Total Points	10 points

End of Week 6

Student Project Activity – Week 7

AK. Week 7: Section 5.3: Pro Forma Balance Sheet, Finalized Budget Proposal and Presentation

AL. TCOs Addressed:

TCO 10: Given a description of a new business, new product, service or project develop, present and defend the budget.

AM. Project Activity Overview – Scenario / Summary:

Use the Budget Proposal Workbook.xlsx and Budget Proposal Template.docx to develop pro-forma balances sheets for the new business. Also create and defend the budget.

AN. Deliverables:

Complete Section 5.3: Pro-Forma Balance Sheets. Also, provide pro forma balance sheets and other supporting budget calculations in MS Excel template tab 5.0 in Budget Proposal Workbook.xlsx. Also, put the finishing touches on your appendices and works cited sections and complete your executive summary. Update the table of contents with page numbers. Create a PowerPoint presentation complete with notes defending the presentation.

Add section 5.3, Works Cited Section 6.0, any content to Appendices Section 7.0, your Executive Summary, and updated Table of Contents (with page numbers) to the Budget Proposal Template.docx and save it as YourName_Project_WK7.docx. Also add the pro forma balance sheets to Section 5.0 or the Budget Proposal workbook.xls and save it as YourName_Worksheet_WK7.xlsx and upload both files to the Week 7 Project Dropbox.

AO. Project Tasks:

Task 1:	Add Pro Forma Balance Sheets to Section 5.0 of the Budget Proposal Workbook.xls and the Budget Proposal Template.docx Section 5.3.
Task 2:	Add any works cited, appendices or other details to your Budget Proposal Template.docx. Also complete your Executive Summary and Page Numbers in the Table of Contents.
Task 3	Save the Excel and Word documents, and submit them to the Week 7 Project Dropbox.
Task 4	Create and Save a Powerpoint Presentation presenting and defending the Budget Proposal, placing notes in the presentation indicating your assumptions and defense of the budget components.
Task 5	Submit the PowerPoint presentation to the Week 7 Presentation Dropbox.

AP. Grading Criteria: Project Proposal

Item	Description	Points
Content	All parts of the template are fully completed.	5
Executive Summary	Executive Summary presents the major details of the Budget Proposal and adequately describes the business.	10
Sales Forecast	Sales Forecast is based on sound methodology and is complete.	15
Capital Expenditure Budget	Capital Expenditure Budget is complete with capital expenditure items properly identified.	15
Investment Analysis	Investment Analysis is complete with NPV, Rates of Return, Payback Period and Net Cash Flow Calculations.	15
Pro-Forma Financial Statement Interaction	The Income Statement, Cash Flow Statement, and Balance Sheet are properly constructed and are internally consistent.	15
Assumptions and Primary Research	Assumptions and sources of financial estimates are understandable and reasonable for all financial statements.	15
*Total*		90

AQ. Grading Criteria: Presentation

Item	Description	Points
Spelling and Grammar	There are no spelling or grammatical errors.	5
Summarization	The key points from the budget proposal are presented at the right level of detail.	20
Professionalism	The layout of the slides, color schemes, and content are readable and highly professional.	5
*Total*		30

End of Week 7

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