Assessment Task Set up an New Business (Rstuarant) Assessment Task Set up an New Business (Rstuarant)Assessment Format Business Report to a Bank Manager 30% weighting1 minute Funding Pitch 20% weightingWord limit Max. 1,500Learning outcomes to be examined in this assessment1. Understand the scope and purpose of management accounting.2. Analyse the nature and structure of financial costs and problems of calculating them.3. Identify methods of calculating present and future profitability of business organisations, and howfinancial risks of change can be evaluated.Assessment criteria Explanatorycomments on the assessment criteriaMaximum marks for each section. Content, style, relevance, originality.Relevant, accurate content, demonstrating research, as required by Assessment Task above.Great emphasis will be placed on originality ? work which is clearly student?s own.See assignment for specific allocation of marksFormat, referencing, bibliographyFull text referencing and bibliography preferably using the Harvard citation methodSee assignment for specific allocation of marksConstructive critical analysis with assumptions and application of concepts,introduction, conclusion Identifying and demonstrating an understanding of the relevantaccounting concepts.Demonstrating the ability to use in the correct business context.Section A:?One (1) minute Funding Pitch? 20% weightingPrepare a short presentation to be delivered to the bank manager (Lecturer) to secure thefunding required for your business idea and product. It should last no more than one (1)minute and include the following:1. What type of business you have chosen from the list in Section D below (Restaurant)2. Which product you will make and sell and its relevant manufacturing (production)costs and its selling price.3. How many do you intend to make and sell in a year and where is your target market4. How much funds are you looking to raise, how will you use this money and how willyou pay it back if successful? Using the template provided in Section E, prepare for your pitch by completing the varioussections and hand it to the Bank Manager (Lecturer) when you start your pitch. You are totreat it as a real business meeting, where clarity, accuracy, timing, delivery and mannersare as important as the actual idea.Marking Scheme is provided in Section F.Section B:Business Report 30% weightingYour assignment also requires you to provide a formal business report max 1,500 words,to your Bank Manager regarding the launch of the same business that you presented inyour marks for this section. Any extenuating circumstances should follow proper procedures. Introduce your business and your idea to the bank manager and ensure you state howmuch you intend to borrow and how you intend to make repayments.State your chosen business and what products you intend to sell and the cost price toproduce it and its intended selling price. Provide in your own words, background as tothe general price of these or similar goods available in the London area and who arethe competitors. Include sources for your research, and avoid making generalassumptions or remarks about the industry/market ? the reader is more interested inthe financial aspects than the aesthetics of the product. (max 350 words),Explain in your own words how you arrived at the figures for each cost with supportingassumptions regarding cost behaviour (fixed or variable), measurements, quantities(including demand) and prices and also an explanation regarding which method ofpricing you used to arrive at the target selling price and the underlying assumptions tosupport your figures for break even point. (max 550 words),Provide a suitable summary of the business report remarking on the figures from yourcalculations and business documentation (appendices) (max 200 words).Marks 5% Reflecting on your overall learning experience briefly discuss what you have gainedfrom undertaking the tasks in this assignment. Particularly how have you managedyour time, application of concepts covered in lectures and skills you have developed bycarrying out the pitch and report? (max 100 words).Marks will be awarded for innovation, originality of approach, report format & structure,relevant references and quotations from suppliers if applicable and generalpresentationSection C Appendices to the Business Report:Produce a per unit cost statement showing the main costs groups involved and thecalculation for target selling price.? Calculate a breakeven point.? Prepare a One (1) Year Operational Budget based on your cost structure and? production/sales pattern.? Prepare a Five Year Budget Income Statement using marginal costing principles and? the following information:? Your market is growing by 3.5% each year ? only your sales and variable costs? will be affected? You should plan to reduce fixed costs by 10% year on year? Ignore Taxation? Undertake a five year net present value appraisal of your new business, using the? following information:? Your initial investment costs are your total costs for the first year only? Your marginal profit is your net cash inflows? Cost of capital will be 8%? Ignore taxation and inflation :
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