Financial & Operations Plan - Assessment 3

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School/Department/Area
Assessment Record & Cover Sheet
Assessment information
Program Name: Business Skills
Course(s) BUSM3322 / 3223 /4598 /4599
Semester & Year Semester 1 2019
Teacher Name &
Contact Details
Ngoc Le Chow
[e-mail]
Student to Complete:
Student Name(s)/Number(s):
Title of Assessment Task: The Financial & Operations Plan –
Assessment 3
Student Declaration:
I declare that in submitting all work for this assessment I/we have read, understood
and agree to the content and expectations of the Assessment declaration.
Assessor to Complete:
Assessment Result:
Comments/Re-submission
Arrangements (if applicable):
Teacher Name:
DATE:
Resubmission Assessment Result:
(if applicable)
Comments
Teacher Name:
DATE:
Submission Instructions
Format
Work is to be saved as a word document or PDF, and uploaded from the assessment
tab in your blackboard course shell by the required date. Work sent by email will not
be marked. Work submitted after the deadline and without an extension or special
consideration (details below) will not be accepted or marked.
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Deadline Extensions & Special Consideration
Ensure that you submit assessments on or before the due date. If you think you might
not make the due date due to special circumstances, you must apply for an
‘application for extension of time’ before the due date .
You can apply for an extension of up to seven days from the original due date for
submission of assignments, projects, or essays. You must lodge it no later than one
working day before the original submission due date. See link below for eligibility
criteria and forms.
If your performance in the assessment is affected by unexpected circumstances, you
should consider applying for Special Consideration. Information on the process and
application forms for extensions and special consideration can be found at
http://rmit.edu.au/browse;ID=ls0ydfokry9rz.
Cover Sheet
When you submit work for assessment at RMIT University you need to include a cover
sheet that has a declaration and statement of authorship. If using the Assessment
Cover Sheet supplied by your teacher, you simply need to tick the box saying you
agree to the conditions in the hyperlink in the document. If not using this then you
must complete, and submit a cover sheet with your work, whether individual or group
work. Cover sheets for submission of work are available from the Student forms
website.
Student Instructions - Assessment Task 3: Financial
Plan
Using the business idea identified in the Business Proposal, students are required to
research and prepare a formal business plan using the following template.
Completion of this assessment will require you to:
Prepare a Financial Plan
1. Estimate revenue relevant to your proposed business idea
2. Estimate expenditure relevant and appropriate to your business idea
3. Estimate business start up costs
4. Develop statements of personal and financial position
5. Complete cash flow statements and projections
6. Determine business start up costs
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7. Develop and interpret profit and loss statements
8. Use financial reporting templates (Excel)
Assessment Task 3: The Financial Plan
Name: Student No.:
Please provide a brief summary of your Business Idea (1 paragraph)
The business idea that I am proposing is Korean chicken and beers. “Chick n beer”
brand name will be our considered name which we are planning to open in Australia.
The reason why I target my business in Australia is because they have a huge
population approximately 26 million in 2019. We are planning to open our first chick
n beer store in Melbourne, and after that to Brisbane, and lastly Perth. It is because
these cities are the 5th largest and developing cities in Australia. In addition, we are
planning to get the signature proprietary sauce from Korea, which we will have a
special technique to apply the sauce which no other restaurant uses. Lastly, we are
planning to use higher quality of chicken and double fry our chicken which gives us
the crispier outer layer. Besides that, starter menu such as kimchi pancake, ttek bok
ki (rice cake), fish cake soup and corn cheese would be an option for customer which
satisfy customer needs and wants. Atmosphere we are trying to create is like a chill
out restaurant for family and friends to gather around a meal. We offer excellent
service, music and an atmosphere with drinks that include draft beers, soju,
traditional Korean rice liquor, which is like sake and rice wine. Our target audience is
for people with age 17 to 35, middle-class to upper-middle-class millennials. The main
thing is millennials enjoy eating at restaurants that have less of a chain feel.
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Operations & Financial Plan
1. Recruitment
With the growth in business capital, the company will expand the scope of its services
and hence there will be a need for the recruitment of more workers. The company will
use recruitment methods such as advertisement through social media platforms like
What Sapp, Facebook, LinkedIn, and others. The company will also use recruitment
agencies. The company will also use internal applications.
2. Position Descriptions
(CEO) Operations
Key Duties Skills Required
Providing strategic
direction to the
company. The chief
executive officer is
tasked with the
formulation of
policies to run the
company
Man have leadership skills
Must have mobilisation and management skills
Type of employment (Full-time, part-time, fixed term or casual): _Full time
Salary/Wages per month: $_____300______
Withholding tax per month: $20________
Superannuation entitlement per month: $__0__________
Annual leave: ______0___
Work-cover payment per month: ______0_____
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