ACCT1101: Environmental Management plan (EMP) and Loan Purpose - Accounting Assessment Answer

Accounting Assessment Answer

• The first section of your Business Plan should briefly describe the business and its basic activities
• This description should include:
• • How the business is organised e.g. sole proprietor, company, etc.

• • Its product(s) or service(s)

• • Where it is located and where it conducts its business

• • Management team – what role does each person in your group have? E.g. marketing manager and what do they do day-to-day? E.g. Perform market analysis, organize promotional activities, etc/

• • Business objectives clearly stated and linked to the loan purpose and amount

• Discussion of the market conditions drawn from the VBE demographic information for your VBE business (see VBE Assessment Detail). If your expansion goes into a different market, then you will need to include a discussion of those market conditions.
  • Think about the market for your business’ product in terms of size and demographic (average age, average income etc.) of customer base.
  • Also consider relevant industry and product characteristics.  
  • For example, you might plan to increase sales for your business by e.g. expanding your product range and selling more products to the existing VBE market.
  • Or you might want to increase sales by entering new markets e.g. by opening a new retail outlet outside the VBE economy.
  • What are the marketing activities going to cost?
• You’ve been given some basic information but you can go further by looking at broader data for your business from e.g. IBISworld (go to UQ library and search for IBISworld database), Business Queensland, Bureau of Statistics etc.
• Integrate the additional market research
• Include a well-developed discussion on the plans for:

• Promotion
• Pricing
• Distribution of products /services
• Budgeted cost

• Describe the current business operations
• Describe the relationship with their suppliers and customers
• Thorough discussion of plans to develop, service, protect or support product/services, linked to the marking plan, environmental management plan (EMP) and loan purpose.
• Will staffing need to be adjusted with the new expansion? Why or why not?
• Thorough discussion of possible threats to future operations and proposed solutions to these threats
• What are the budgeted costs for these operating changes?

• Resource efficiency
• Environmental impacts
• Health and safety issues
• Social impacts
• What are the budgeted associated costs?

• Loan Application & Justification:

• Identification of the business’ capital requirements
• Justification of the loan amount and interest
• Linked discussion between the capital requirements and the justification of the loan amount
• In all cases, the Financial Plan discussion should refer to the accounting information provided in the appendix. No need to repeat this information in the body of the business plan.

• Historical financial results discussed in depth

• • • Discuss the two years from your VBE trading using the last trading session financial statements (annual figures).
    • The VBE historical financial statements from the final trading session is included in the appendix (Income Statement, Balance Sheet and Cash Flow Statement)
    • Only annual figures are to be used

• Budgeted financial data discussed in depth

• • • Overview of the next 12 months and basis for assumptions

• • • Master Budget using annual figures are included in the appendix
    • Ensure the Master Budget has the Projected financial statements included in the appendix (Income Statement, Balance Sheet, Cash Flow Statement) and all supporting budgets

• All assumptions for the financial forecasts used in the Master Budget are provided and discussed

• • • Discussion has well-developed linkages to historical data, economic information, other plans and your business expansion

• • • From the Master Budget ensure that the projected financial statements are integrated and reflect the other sections of the business plan.
    • The appendix contains:

• The historical financial statements from Practical Session 2

• The projected statements and their supporting budgets that form the Master Budget

• The discussion of the financial statements, including assumptions, should be in the financial plan.

This Accounting Assessment has been solved by our Accounting experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.