代写 悉尼科技大学 Small Business assignment
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代写 悉尼科技大学 Small Business assignment
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UNIVERSITY OF TECHNOLOGY, SYDNEY -School of Accounting
22567 Planning and Control for Small Business Enterprises
Autumn Semester 2016
CASE STUDY ASSIGNMENT
This case study will cover the following areas of Small Business Enterprise (SBE)
? Considerations in Starting a New SBE
? Financial Preparation
? Planning for Growth
? Planning for Retirement
OUTLINE OF CASE STUDY:
You are working within a team of small business consultants, ‘Innovative Consultants’. Your previous
duties required you to report to a manager who has mentored you for the last 12 months. You will now
be taking more responsibility and consult closer with clients.
This month you will be introduced to a client, Jesse Tawong, who is eager to start a new business. The
business name will be ‘Jesse’s Security Alarms’.
Jesse’s new business will involve providing an onsite service and product. He has experience in
installing security and/or video systems, as well as, providing repair & maintenance service.
Jesse’s new business:-
? Provides a service to install security products on properties such as houses, units and
businesses.
? Involves also selling the security products when providing a service.
? Showing separately on an invoice the cost of the service and the product/s.
? Requires purchasing security products from several suppliers and sometimes mixing different
types of products to suit the specific requirements of the customer’s job.
? Will endeavour to be more attentive during all jobs so as to minimise any damage to the
property, thus trying to avoid any painting or repair for the customer/s.
? Will use home premises as the place of business.
? Already has purchased some specific tools and security stock.
? Jesse has sufficient funds to support a new business for a while but wants to begin making a
profit within the first few months.
Jesse is planning to open the business by the 4 th July this year.
Jesse needs guidance and support so has made an appointment to see your manager for advice. Your
manager will be introducing you as Jesse’s consultant and point of contact for Innovative Consultants.
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SECTION ONE – UNDERSTANDING THE SMALL BUSINESS ENVIRONMENT
(7 MARKS)
To impress Jesse at your first meeting, you have prepared a report that will demonstrate your
understanding of the business, the industry and knowledge about starting a new business enterprise.
This information should be relevant so that it will assist Jesse in making the best business decisions at
this early stage of the Business Cycle.
REQUIRED:
Provide a report extract that includes points 1 and 2 from the list below.
In addition, you are to select any two points from points 3 to 13 as listed below.
As it is an extract, do not include a title page, executive summary, contents page etc.
Maximum of 2 one-sided pages (1 x A4 pages both sides)
1. Description of the
i. Business
ii. Targeted customers
iii. Physical location
2. List some local council regulations that Jesse should be aware about before making a decision
to operate from home. That is, you should find out the local council restrictions for a business
wanting to operate from a residential home. (Research a specific local council in Sydney and
use this as your example)
3. Discuss legal requirements when selecting a business name.
2. Current issues that may affect this type of business
3. Prepare a SWOT analysis, including his competitive advantage
4. A Marketing Analysis. Discuss methods of advertising & promotion, frequency of marketing.
Also discuss where the point of sale will be made for Jesse’s services & products (eg online or
in-store)
5. E-Business considerations. Promotion online, website registration required, suitable methods of
receiving payments, security, webinars
6. Discuss the importance of efficiently and effectively managing the business’s Accounts
Receivables, such as, invoicing, payment, follow-up, credit level, review of outstanding
debtors.
7. Business structure considerations for these circumstances – brief advantages and disadvantages
for each.
8. Briefly list some key performance indicators that can be used at start-up for this business and
after the start up period.
代写 悉尼科技大学 Small Business assignment
9. Costing process. Discuss how Jesse will determine prices for services & products.
10. Record keeping and compliance. Discuss who may be responsible for general record keeping
and who may be responsible for meeting tax compliance requirements.
11. Prepare a table showing the due dates for tax obligations (for example BAS, PAYG, GST,
PAYG Summaries).
12. Explain and discuss appropriate insurances, mandatory and optional, that Jesse should consider.
13. Aware of Jesse’s environmental friendliness, list & discuss some aspects of environmental
considerations that may be considered.
14. List and explain the employer obligations that Jesse should be aware about when employing
staff. List organisations (providing their website) that may provide further and/or supporting
information and resources for employers.
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SECTION TWO: FINANCIAL PREPARATION & ANALYSIS - BUDGETING (30 marks)
Starting a new business is not easy and financial preparation and analysis is necessary.
Jesse is aware that a large proportion of new small business enterprises in Australia fail in the first few
months of operations. Lack of planning, little knowledge of business costs and the associated lack of
cash flows are the most cited reasons of failure.
Jesse approaches you for further assistance. He wants to learn about the process of operational
planning by understanding the true costs of the business, in particular, labour costs, fixed and variable
costs.
a) Budgeting for Labour Costs (Worksheet 1: Payroll Budget)
Jesse decided not to pay himself a wage until his business begins to make a net profit of 10% of
Gross Total Sales. His wage would be based on the minimum award wage rate. (Note: If Jesse sets
up as a sole trader then he will withdraw money as drawings from his bank account based on the
same amount as the minimum award wage).
Meanwhile, he will fund his living expenses from savings.
Jesse will be employing 2 people
1. One casual security installer, a friend who is retired and can assist when required. He will not
work weekends. It is estimated that this casual employee will not need to work because there
will be little work during the start-up stage and an apprentice will be employed.
2. One apprentice under the age of 18 years will start on Monday 1 st August. Jesse will also train
the apprentice to invoice customers so that customers can be invoiced at the time that the job is
immediately completed.
REQUIRED:
You will prepare a monthly labour budget from 1/07/2016 to the end of the financial year,
30/6/2017.
(Payroll budgeting information will be available on UTS online Worksheet 1: Payroll Budget)
b) Revenue and Cost Budgets (Worksheet 2: Budgets)
REQUIRED:
For the period, 1st July, 2016 to 30 th June 2017, you are required to:-
1. Prepare a monthly Cash Flow Budget for this same period. This will assist Jesse in keeping a
record of the frequency of business cash payments.
2. Prepare a monthly & annual Budgeted Profit and Loss Statement.
Revenue will be calculated using the estimated number of jobs expected to be booked by new
potential customers. Revenue is Total Sales derived from Services and Product Sales.
3. Calculate the minimum revenue to break even.
(Budgeting Information will be available on UTS online – Worksheet 2: Budgets)
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c) Report explanation
REQUIRED:
You will meet with Jesse to discuss the budgets. To prepare for this meeting you will write a list of
points to discuss under the following headings:-
1. Discuss & explain key performance indicators that can be obtained from the Profit & Loss
budget.
2. Give reasons why the cash flow budget is an important tool for Jesse
3. Discuss the use of variances: Actual vs Budget
(Maximum 750 words)
SECTION THREE: FINANCIAL PREPARATION & ANALYSIS - FORECASTING (9 MARKS)
Assume that Jesse has been operating successfully for over 3 years.
It is now 1/7/2019.
REQUIRED: (Worksheet 3: Forecasting)
Prepare a forecast of the business’s revenue using the provided worksheet (Worksheet 3: Forecasting).
1. Estimate a forecast of revenue for the period from 1/7/2019 to 30/6/2020 using regression
analysis techniques.
2. Discuss the reliability of forecasting using methods, such as regression analysis.
What other factors that are specific and relevant to Jesse’s business could be included in the
forecast analysis? (Maximum 400 words)
SECTION FOUR: FINANCIAL PREPARATION & ANALYSIS – FINANCE OPTIONS
(9 MARKS)
Jesse has made an appointment to meet & discuss the expansion of his successful business.
He wishes to discuss:-
a) Renovating the existing property (estimated cost $80,000)
b) Acquiring new equipment ($12,000 one off payment)
c) Employing an additional employee (estimated $45,000 per annum)
These plans require funding.
REQUIRED:
For each option, discuss the financial options available for Jesse in obtaining finance. Note that each
borrowing may be sourced differently due to the nature of their purpose.
(Maximum words 550)
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SECTION FIVE: SUCCESSION PLANNING (5 MARKS)
Although Jesse has enjoyed operating his own business, he is now reconsidering his future.
REQUIRED:
Write a professional letter to Jesse stating at least 3 reasonable options available for a succession plan.
(Maximum 750 words)
SUBMISSION REQUIREMENTS AND DUE DATE:
ASSIGNMENT: A full printout of your assignment must be submitted to your lecturer
EXCEL WORKINGS: Ensure you include a print out of your worksheets and also submit a
copy (via email to your lecturer) of your Excel files.
TURN-IT-IN: Before handing in the written assignment you must submit the final version to the
turn-it-in program available on UTS Online. Also ensure that you print a copy of your Turn-it-in
similarity report and include this with your assignment.
DUE DATE: Due in class on Wednesday 8 th June.
代写 悉尼科技大学 Small Business assignment
