Viability of Hattie's Geode Retailing Venturen A Financial Plan Assignment

Assignment Task

Overview

You have been asked by your 65 year old aunt Hattie to help her assess a new venture. It is Friday night, and she needs the work finished by Sunday, in preparation for an early Monday morning meeting, so you know that she will not be able to give you any more information than she already has (and you will be unable to contact her over the weekend), and therefore you may need to rely on your own assumptions and estimates for some of the analysis where appropriate. Hattie lives near Manchester, England, and recently took early retirement (from a university she joined 30 years ago), leaving them with a lump sum (after tax) payment of. Surprisingly, rather than being depressed by her new state of independence, she is tired of the bureaucratic life and excitedly contemplating a new career as a retailer of geodes1 and other decorative stones. She is confident that she can set up a business to import geodes from Uruguay and sell them in Europe. Her husband, who she met in the USA at business school, is pleased with her passion for this possible new venture, but concerned that it might turn into a financial disaster. He has suggested that she develop a financial plan to evaluate the venture and its viability.

Note

That this is a fictional case focused on assessing your understanding of management accounting; you are not expected to comment in any way on aspects such as the market feasibility or actual rates of tax in the UK.

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