BIZ201 - Accounting for Decision Making Case Study - Accounting and Finance Assignment Help

Assignment Task

Learning Outcomes

a) Explain and evaluate the role and importance of financial information in business decision making

b) Apply relevant accounting concepts to simple business scenarios

d) Apply basic costing and budgeting techniques to business decision making

e) Apply capital budgeting techniques to capital investment scenarios

TASK 1

In developing the gym, you have been asked to analyse whether to buy or hire the specific equipment items. These items are included in Appendix 1, along with costs. The budget is $200,000.

If the gym equipment is bought, then the life of the equipment is 3 years, after which replacement is needed. At the end of its useful life, equipment purchased can be sold for a residual value of 20% of their original cost. If the gym equipment is bought, then there\ is also a fixed servicing cost for the equipment, which, in total, is $20,000 for the 3 years, paid in advance to a third-party contractor at the commencement of the agreement. The annual fee for hiring each piece of equipment is in Appendix 1. Hiring fees are paid at the commencement of each year and rise by 3% p.a. Servicing of the equipment is included in the hire fee.

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