Assignment | Management Accounting

Added on -2020-02-19

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Management Accounting Assignment2017
1By student name ProfessorUniversityDate: 31 August, 2017.1 | P a g e
2ContentsPoint no 1..............................................................................3Point no 2..............................................................................4Point no 3..............................................................................5Point no 4..............................................................................6Point no 5..............................................................................8Point no 6..............................................................................9Point no 7.............................................................................10Refrences..............................................................................112 | P a g e
3Point no 1Starting a new business is not easy and the trickiest ask is choosing the business to venture into.Different businesses have different challenges and different rewards. A right product or service must bechosen in the first place which needs to be marketed well in order to earn profits and for business to lastlonger. Understanding the customer demand, the market analysis, the potential target customers andlifestyle today, I would be starting a business in electronics and home appliances. This has been chosenas home appliances and electronics have become a ultimate necessity in the nine to five life of most ofthe professionals as they spend of their times on TVs, Laptops, music systems, mobiles, etc. [ CITATIONFin \l 1033 ]Name of the business would be “Electroworld.com”. The reason of selecting such a name for thebusiness is it being catchy and the world being so internet oriented and internet bound, itcatches minds of the listeners and viewers immediately.Products and services offered: Most of the electronic products would be at offer including videosystem, music system, television, laptop, etc.Legal form: The legal form chosen would be a limited liability incorporation or companyconsisting of 2 partners, one partner being my friend who has good business contacts with thevendor, customer, banks, etc. and the other being me.Option of merchandising or manufacturing: We would go with manufacturing of these goods.Option of retail or wholesale outlet: We would be going with the wholesale outlet because ofthe good margins being available as per the market trend.[ CITATION Bae17 \l 1033 ]Size of the business: The expected or the planned size of the business is to be around $ 400000initially with major portion being on the capital expenditure and the other being on the currentassets.Industry: The industry which we would be venturing into will be manufacturing industry.3 | P a g e

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