Reference no: EM132506167

COAC216 Cost Accounting - Kent Institute

Assessment - Group Report

Learning Outcome 1: Discuss various approaches to performance evaluation and control in various types of organisations
Learning Outcome 2: Discuss the changing role of management accounting.
Learning Outcome 3: Devise and evaluate simple indicators of performance.

Scenario:

You and your friends are willing to start a start-up business. You and your friends have $200,000 to start a business, which means that your business's setup cost plus the estimated loss until your business reaches the break-even point cannot exceed $100,000. Each group is required to perform the below tasks. Good luck!

Task

1. Think about a feasible start-up business model and choose one.
2. Develop a one-page business plan using the Business Model Canvas. (A detailed procedure will be given in Part 1 online training course)

1. Develop a vision and a mission statement for the business model.
2. Develop a Balanced Scorecard for the proposed start-up business model.
(A detailed procedure will be given in Part 2 online training course)

Perform a break-even analysis for the proposed start-up business model.
(A detailed procedure will be given in Part 3 online training course)

Description

Goal:
Convince your potential investors so that they invest on your business model.

Requirements for presenting groups:
• Photocopy your BMC in A4 (with your group number clearly written) enough to give at least one copy to each group (e.g. if there are 10 groups, your group need to print 10 copies of your BMC) and give to your lecturer on the presentation day;
• Duration: 10 minutes
• No of presenters: 5 people
• PPT Slide: Business Model Canvas (minimum), and Balanced scorecard & BE analysis (optional)

Requirements for participating groups:
• Actively listen to other groups' presentation and give
$500 stickers (total 20 stickers available per group) to the business models that your group want to invest.

The business model that gets the most of stickers will be awarded as the Best Business Model.

Each group is to write a business plan report including:
• A brief description of your business idea;
• Vision and Mission statement
• Business Model Canvas for your business idea (put BMC in your report)
• Balance Scorecard (BSC) (what is BSC?, BSC for your idea, translation of strategy of your business model), make sure to put your BSC in your report.
• Break-even analysis (BE) (what is BE analysis?, estimated operation costs (not setup cost) and revenue, categorisation of fixed and variable cost, calculation of contribution margin, calculation of BE in unit/service and BE in dollar, overall comment on BE of your business model)
• Comment on overall feasibility.

Attachment:- Cost Accounting.rar