Use the Internet to research the annual report of at least one (1) merchandising company. For example, while you cant use this one, here is one from Walmart. Determine which costing method (Last In First Out [LIFO], First In First Out [FIFO], or weighted average cost) is used to record inventory by your selected company. Share three (3) advantages and three (3) disadvantages of using the type of costing method (LIFO, FIFO, and weighted average) that the company has implemented. Below is the link to an interesting article on how to get the best bargain when making financial decisions.

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1. Your Business is a Retailer – Make up your business name; Introduce your business in a way that others would believe it is a real business and consistent with the numbers you present in the financial statements. For example, What does you business do (provide an overview)? What products does your business offer? How long have your business been operating for? 2. Use Excel to complete the assignment by writing the business story and entering data into spreadsheet with relevant formula. You must create a separate tab for the following: ? The Business story ? The Income Statement; ? The Statement of Financial Position; and ? Your group member details and their contributions – List each student of your group with their full name and student number and write a brief description of the individual contribution made (eg. Who wrote the business story, entered data into spreadsheet, jointly applied the formula, ect…) 3. The following accounts are examples that can be used in the preparation of the financial statements for Your Retailer Business. You may make up the amounts in a way that is consistent with the nature of your business and add different accounts that is relevant to your business. However, your business must have at least 2 depreciating non-current assets

Attachments:

Assignment-Br….docx

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How does Socrates’ sense of honor and his duty toward the polis compare to that of Tyrtaeus of Sparta (page 82)?

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In doing this assignment, students will be expected to:

1. Demonstrate an understanding of accounting and control issues that

arise from the operational characteristics evident in a hospitality and

tourism setting.

2. Use accounting information to interpret and comment on the

strategic and financial performance of the hospitality and tourism

organisations.

3. Successfully apply a range of financial analysis techniques and

critically evaluate competing results to make appropriate

management decisions for the effective hospitality operations

performance issues

Assignment Components

The assignment comprises three tasks:

1. Purpose of the Budgeting Process and the Variance Analysis (T1)

2. Variance Analysis for one event & Recommendations (T2)

3. Strategic Considerations (T3)

While this assignment provides you with insights into the purpose of operational budgetary

process within the hospitality industry, be aware that the tasks 2 & 3 are interrelated. In

addition, please be reminded that you must read the instructions carefully and provide

references were appropriate, particularly for the first task (T1).

Please note that this is a practical assessment that must demonstrate your ability to apply

financial and operational knowledge and concepts. However, it is even more important that

you also demonstrate your understanding and ability to interpret the information in respect

to its implications for the operational decision-making processes within the hospitality

business.

To conduct your assignment, you must analyse the three levels of the variance analysis for

one of your events initially budgeted. Every group member must choose a different event to

analyse.

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3214THS A3_Individual Case Analysis A3: Assessment Details th Due date: 24 May, Week 12 @ 23:59pm Worth: 35% Style of assessment: Report style Max. Word Limit: 1500 words. Excluding calculations, which are included in the excel sheet and not included in the total word count. Submission: Your written report & the excel file must be submitted via L@G through the assessment submission link. Marking: Your Report will be assessed on understanding of key concepts and its applications in the context of each task. Hurdle Statement All students are required to complete the coversheet. Be aware that the lack of the coversheet submission leads to a deduction Academic Integrity of 10% of the total report mark per day. About the Task All tasks are based on the fundamental, theoretical and conceptional learning in this course. You will work on an operational variance analysis of actual and budget performance for one event. The audience for this project comprises the general manager and managers of other operating departments within the premises to whom you are required to explain the causes for the respective variances and provide recommendations how to address emerging issues. In doing this assignment, students will be expected to: Learning Outcomes 1. Demonstrate an understanding of accounting and control issues that arise from the operational characteristics evident in a hospitality and tourism setting. 2. Use accounting information to interpret and comment on the strategic and financial performance of the hospitality and tourism organisations. 3. Successfully apply a range of financial analysis techniques and critically evaluate competing results to make appropriate management decisions for the effective hospitality operations performance issues. Hint 1. Use the functions within Excel to show the workings for the budget calculations as the right calculations are crucial to a successful outcome. 1 2. Use…

Attachments:

financial-ind….pdf

NA-G70-J-for-….xlsx

financial-cri….pdf

Chapter-10-SV….pptx

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