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Homework answers / question archive / Only need to do task 3 and task 4   ASSESSMENT 4 BRIEF Subject Code and Title BIZ201 Accounting for Decision Making Assessment Scenario Analysis - Group Individual/Group Group (3 - 4 students) Length 2,000 words   Learning Outcomes Explain and evaluate the role and importance of financial information in business decision making Apply relevant accounting concepts to simple business scenarios Apply basic costing and budgeting techniques to business decision making Apply capital budgeting techniques to capital investment scenarios Submission By 11:55 pm AEST/AEDT Sunday of Module 6 (Week 11)   Weighting 40% Total Marks 100       Context: This assessment is aimed at consolidating knowledge from Modules 1-6

Only need to do task 3 and task 4   ASSESSMENT 4 BRIEF Subject Code and Title BIZ201 Accounting for Decision Making Assessment Scenario Analysis - Group Individual/Group Group (3 - 4 students) Length 2,000 words   Learning Outcomes Explain and evaluate the role and importance of financial information in business decision making Apply relevant accounting concepts to simple business scenarios Apply basic costing and budgeting techniques to business decision making Apply capital budgeting techniques to capital investment scenarios Submission By 11:55 pm AEST/AEDT Sunday of Module 6 (Week 11)   Weighting 40% Total Marks 100       Context: This assessment is aimed at consolidating knowledge from Modules 1-6

Accounting

Only need to do task 3 and task 4

 

ASSESSMENT 4 BRIEF

Subject Code and Title

BIZ201 Accounting for Decision Making

Assessment

Scenario Analysis - Group

Individual/Group

Group (3 - 4 students)

Length

2,000 words

 

Learning Outcomes

  1. Explain and evaluate the role and importance of financial information in business decision making
  2. Apply relevant accounting concepts to simple business scenarios
  1. Apply basic costing and budgeting techniques to business decision making
  2. Apply capital budgeting techniques to capital investment scenarios

Submission

By 11:55 pm AEST/AEDT Sunday of Module 6 (Week 11)

 

Weighting

40%

Total Marks

100

 

 

 

Context:

This assessment is aimed at consolidating knowledge from Modules 1-6. By prescribing this assessment, you are able to reflect on your understanding of the importance financial information in business decision making and be able to apply costing and capital budgeting techniques to business scenarios like given in this brief.

Instructions:

  1. Submit 2 files; Excel Workbook and Business Report.
  2. Excel workbook is provided on Blackboard. Download it, perform calculations on it, save it and submit with the Business Report.
  3. For every task, show all workings through appropriate Excel formulas. Copy pasted numbers without appropriate Excel formulas will not be accepted.
  4. Submit your assessment files using the following naming convention:

First Name_Last Name_BIZ201_Assessment4_Workbook.xlsx

First Name_Last Name_BIZ201_Assessment4_Report.doc

 

 

Crystal Hotel

 
 

 

The Crystal Hotel Pty Ltd has a quite flat organisational structure as per the chart below. The General Manager oversees each departmental manager directly.

 

 

General

 

Manager

 

Executive

 

Manager

 

Rooms

 

Division

 

Human

 

Resources

 

Accounting

 

Sales and

 

Marketing

 

Functions

 

and Events

 

Food

 

&Beverage

 

 

 

 

You have been offered an internship opportunity as a group in the Functions and Events Department to show your skills and how you could be of benefit to the organisation. At the end of the internship, there may be an employment opportunity for the members of the group.

 

 

Functions and Events Department

 
 

 

 

TASK 1

As part of the refurbishment project, the Crystal Hotel would like to introduce fresh plants into the lobby area, function and conference rooms. The list of the required plants together with costing is included in the Appendix 1 of this document. The management has however, a dilemma on whether to hire a professional company that will deliver the plants and maintain them or whether to purchase the plants themselves and hire a gardener for the maintenance of the plants. It is estimated that the plants would need to be replaced every 3 years. From experience, contracting a gardener to take care of the plants would cost the hotel $350 per week. Assume the gardener’s invoice is paid at the end of each year.

The hiring contract requires payment at the beginning of the year for the full year.

REQUIRED

Compare the two options and make recommendation to the Hotel on whether to hire or purchase the plants. Consider the time value of money at the discount rate of 6%. Include advantages and disadvantages of each option and justify your choice. Discount rate table is provided in Appendix 3.

TASK 2

As part of the improvement process, the hotel would like to invest into an event management software package that would help to manage the events side of the business. The hotel found a suitable software supplier. The software package will significantly improve event management through streamlining processes and decreasing the time spent on booking and quoting events. As a result of the capital investment, an increased revenue and higher efficiency is expected regardless of the type of financing of the software package. The expected useful life of the software package is 3 years.

Two payment options have been offered to the hotel. The first option is to pay a one-off licence fee of $6,700 upfront and after that, an upgrade fee of $315 per year increasing by

3% every year paid at the end of each year. The second option is a subscription fee of $250 per month increasing by 4% each year paid at the end of each year, there is no upfront payment.

REQUIRED

Compare the two options of financing the software package over the expected useful life of the software. Make a recommendation on which option is financially better for the Hotel. Provide explanation for your recommendation. Consider the time value of money and the estimated cost of capital of 6% p.a. Discount rate table is provided in Appendix 3.

TASK 3

As part of the promoting the Crystal Wellness Centre, your team has been appointed to help to organise the Crystal Hotel Wellness Centre Opening Luncheon. The hotel is expecting 300 guests to attend the event. Your team has been given a list of resources that need to be outsourced that is included in the Appendix 2 of this document. The Hotel Restaurant will provide the food and beverages and the price is included in your list. Casual staff will be hired by the hotel at the rate given to you in the Appendix 2. The Audio-Visual System and Staging are provided internally and do not need to be budgeted for.

The rest of the required items will need to be outsourced. You are expected to find suitable suppliers online and to complete the event costing. In terms of the entertainment, your team needs to choose an appropriate supplier for this type of event.

The gift hampers are to be given to the hotel’s long-term corporate clients. Additionally, every visitor will receive a small promotional gift. While the event is planned to last for three hours, the chair covers are required to be hired for 6 hours in total. The overall budget for the resources listed is $20,000 (inclusive of GST).

REQUIRED

Your task is to do an online search of appropriate suppliers in order to complete the event costing. All calculations need to be included in the Excel Workbook and the summary of the costing provided in the Business Report as well. Provide references to the sources of the quotes and prices you have based the costing on. All costing must be done from online resources without contacting suppliers directly as this task is purely for the assessment purposes. Links to the supplies used need to be provided as part of the reference list.

TASK 4

Crystal hotel has accepted a corporate meeting to take place in its conference room. They are charging $185 per person that includes catering. The variable cost per attendee is $60 that includes food, cleaning and utilities. Fixed costs of $35,000 include hiring some furniture and equipment from an outside vendor. The conference facility can hold a maximum of 850 people and early projections suggest it will be almost fully booked.

REQUIRED

They have asked for your expertise to carry out a CVP analysis for this meeting. Calculate the following:

  1. The contribution margin per service (a unit of service is one seat for one attendee).
  2. The contribution margin ratio.
  3. The annual break-even point in number of services and in dollars of service revenue.
  4. The number of services required to earn a target net profit of $70,000.
  5. Analysis of the importance of CVP analysis and comment on effectiveness of this meeting based on your calculations.
  6. The marketing team has suggested a gift bag be given to each attendee at the end of the conference which will help promote a positive lasting impression of the hotel. The gift bag will add an additional $3 per person to the variable cost. Comment on the implications and make recommendations for this suggestion keeping in mind the target profit.

 

 

 

 

               

 

Format

 

 

 

Your business report should include the following sections:

Cover Page – Includes assessment title, student name and ID, subject name and code, lecturer’s name, submission date, word count. Be creative while making your cover page.

Executive Summary – An executive summary provides a succinct summary of the content within the report. It presents information in such a way that readers are able to understand the intention and key elements of the report without having to read the entire document. It is recommended to write 10-20% of your total word limit of the report. This section is not included in the word count.

Table of Contents – A summary of the sections (headings/sub-headings) and pages numbers.

Introduction – The introduction sets the scene and provides context for the aim. It provides background to the issues being addressed only. (Approximately 10% of word count)

Main Discussion – (Rename the headings/sub-headings to reflect your report). This section should provide information regarding the analysis you undertook addressing the key deliverables i.e. Tasks 1 – 4. 

Conclusion – The conclusion restates the aim then provides a brief and concise summary of the discussion to demonstrate that the aim of the report has been achieved. No new information is to be included in the conclusion. (Approximately 10% of word count)

References – It is essential that you use Torrens Academic Writing Guide – APA for citing and referencing research. Please see more information on referencing here http://library.laureate.net.au/research_skills/referencing. Please see the marking rubric at the end of this document for a guide to how many references you should be including in this report. References are not included in the word count.

Appendices – This is where you provide supporting material which is unsuitable for inclusion in the body of the report, but still has some value to contribute to the report. Note – if you have included an Appendices section in your report, you must mention them in the main body.

APPENDIX 1

 

 

PLANTS REQUIREMENTS

Zamioculca

Zamiifolia

 

 
(Zanzibar Gem) Quantity required: 25

 

 

Hire Price

(per item)

Purchase Price

(per item): $45

 

12 months: $80

 

Raphis Excelsa

 

Hire Price

 

12 months: $275

Quantity required: 15

 

 

(per item)

Purchase Price

(per item): $135

 

Howea Forsteriana

 

 

 
(Kentia Palm) Quantity required: 15

 

 

Hire Price

(per item)

Purchase Price

(per item): $60

 

12 months: $210

 

 

Chamaedorea

Elegans

(Parlour Palm) Quantity required: 35

 

Hire Price (per item)

 

Purchase Price

(per item): $70

 

12 months: $225

APPENDIX 2

 

`              

 

Resources

 

Quantity

Chair Cover Hire - Black Lycra with Aqua & Hot

Pink Lycra Bands

 

300 pieces

 

Gift Hampers

 

10 pieces

 

Open Entertainment

 

3 hours

 

 

Balloon centrepieces

 

30 pieces

 

 

Guest Gifts

 

300 pieces

Food Based on $30.08 per person (GST NA)

300 people

 

 

Beverage based on $9 per person (GST NA)

 

300 people

 

 

AV system and staging

 

Provided internally

 

 

Event Staff Rate $22/hour

GST Included in Rate

 

70 hours

 

 

 

APPENDIX 3

 
 

 

 

 

 

 

 

 

Discount Rates

Present Value of $1 Received in n Periods of Time

 

 

 

 

Period

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Period

1

0.9901

0.9804

0.9709

0.9615

0.9524

0.9434

0.9346

0.9259

0.9174

0.9091

1

2

0.9803

0.9612

0.9426

0.9246

0.9070

0.8900

0.8734

0.8573

0.8417

0.8264

2

3

0.9706

0.9423

0.9151

0.8890

0.8638

0.8396

0.8163

0.7938

0.7722

0.7513

3

4

0.9610

0.9238

0.8885

0.8548

0.8227

0.7921

0.7629

0.7350

0.7084

0.6830

4

5

0.9515

0.0328

0.8626

0.8219

0.7835

0.7473

0.7130

0.6806

0.6499

0.6209

5

6

0.0161

0.0176

0.8375

0.7903

0.7462

0.7050

0.6663

0.6302

0.5963

0.5645

6

7

0.9327

0.0096

0.8131

0.7599

0.7107

0.6651

0.6227

0.5835

0.5470

0.5132

7

8

0.9235

0.0053

0.7894

0.7307

0.6768

0.6274

0.5820

0.5403

0.5019

0.4665

8

9

0.9143

0.7477

0.7664

0.7026

0.6446

0.5919

0.5439

0.5002

0.4604

0.4241

9

10

0.9053

0.8401

0.7441

0.6756

0.6139

0.5584

0.5083

0.4632

0.4224

0.3855

10

11

0.8963

0.9004

0.7224

0.6496

0.5847

0.5268

0.4751

0.4289

0.3875

0.3505

11

12

0.8874

0.7885

0.7014

0.6246

0.5568

0.4970

0.4440

0.3971

0.3555

0.3186

12

13

0.8787

0.7730

0.6810

0.6006

0.5303

0.4688

0.4150

0.3677

0.3262

0.2897

13

14

0.8700

0.7579

0.6611

0.5775

0.5051

0.4423

0.3878

0.3405

0.2992

0.2633

14

15

0.8613

0.7430

0.6419

0.5553

0.4810

0.4173

0.3624

0.3152

0.2745

0.2394

15

16

0.8528

0.7284

0.6232

0.5339

0.4581

0.3936

0.3387

0.2919

0.2519

0.2176

16

17

0.8444

0.7142

0.6050

0.5134

0.4363

0.3714

0.3166

0.2703

0.2311

0.1978

17

18

0.8360

0.7002

0.5874

0.4936

0.4155

0.3503

0.2959

0.2502

0.2120

0.1799

18

19

0.8277

0.6864

0.5703

0.4746

0.3957

0.3305

0.2765

0.2317

0.1945

0.1635

19

20

0.8195

0.6730

0.5537

0.4564

0.3769

0.3118

0.2584

0.2145

0.1784

0.1486

20

21

0.8114

0.6598

0.5375

0.4388

0.3589

0.2942

0.2415

0.1987

0.1637

0.1351

21

22

0.8034

0.6468

0.5219

0.4220

0.3418

0.2775

0.2257

0.1839

0.1502

0.1228

22

23

0.7954

0.6342

0.5067

0.4057

0.3256

0.2618

0.2109

0.1703

0.1378

0.1117

23

24

0.7876

0.6217

0.4919

0.3901

0.3101

0.2470

0.1971

0.1577

0.1264

0.1015

24

25

0.7798

0.6095

0.4776

0.3751

0.2953

0.2330

0.1842

0.1460

0.1160

0.0923

25

26

0.7720

0.5976

0.4637

0.3607

0.2812

0.2198

0.1722

0.1352

0.1064

0.0839

26

27

0.7644

0.5859

0.4502

0.3468

0.2678

0.2074

0.1609

0.1252

0.0976

0.0763

27

 

 

 

 BIZ201 Assessment 4 Brief               Page  12

Learning Rubric: Assessment 4

 

Assessment Attributes

Fail

(Yet to achieve minimum standard) 0 – 49%

Pass

(Functional)

50 – 64%

Credit

(Proficient)

65 – 74%

Distinction

(Advanced)

75 – 84%

High Distinction

(Exceptional)

85 – 100%

 

 

 

  

 

 

 

 

 

 

 

 

 

Grade Description

(Grading Scheme)

Fail grade will be awarded if a student is unable to demonstrate satisfactory academic performance in the subject or has failed to complete required assessment points in accordance with the subject’s required assessment points.

Pass is awarded for work showing a satisfactory achievement of all learning outcomes and an adequate understanding of theory and application of skills. A consistent academic referencing system is used and sources are appropriately acknowledged.

Credit is awarded for work showing a more than satisfactory achievement of all learning outcomes and a more than adequate understanding of theory and

application of skills. A consistent academic referencing system is used and sources are appropriately acknowledged.

Distinction is awarded for work of superior quality in achieving all learning outcomes and a superior integration and understanding of theory and application of skills. Evidence of in-depth research, reading, analysis and evaluation is demonstrated. A consistent academic referencing system is used and sources are appropriately acknowledged.

High Distinction is awarded for work of outstanding quality in achieving all learning outcomes together with outstanding integration and understanding of theory and application of skills. Evidence of

in?depth research, reading, analysis, original and creative thought is demonstrated. A consistent academic referencing system is used and sources are appropriately acknowledged.

 

 

  

 

  

Understanding of buy or hire decisions in

business

 

 

 

 

 

 

 

 

 

Students have not understood the concepts of buy or hire decisions and the written answers provided are unsatisfactory. Some or all Excel formulas were missing. Majority of values were incorrect and wrong conclusions have been reached.

Students have demonstrated limited knowledge of concepts of buy or hire decisions. Mistakes in Excel formulas were present and some formulas were missing. Due to the mistakes, potentially wrong conclusions have been reached.

Students demonstrated some knowledge of concepts of buy or hire decisions in this question. Correct conclusion was made, however few mistakes occurred in the calculation process.

Students demonstrated good knowledge of concepts of buy or hire decisions, Excel formulas were provided, correct recommendations were reached and explanation has been provided. Minor mistakes in calculations occurred but have not

Excellent knowledge and practical application of concepts of buy or hire decisions in this task. Students applied the time value of money correctly, provided all formulas in Excel. The recommendation regarding buy vs. rent option has been correct

 

 

22%

 

 

 

resulted in a wrong decision.

and included detailed explanation supported by the analysis.

 

Understanding of different capital investment options for

decision-making

 

 

 

 

 

 

 

 

 

 

 

22%

Students have not understood the two capital investment options and the written answers provided are unsatisfactory. Some or all Excel formulas were missing. Majority of values were incorrect and wrong conclusions have been reached.

Students demonstrated limited understanding of concepts of capital investment options. Mistakes in Excel formulas were present and some formulas were missing. Due to the mistakes, potentially wrong conclusions have been reached.

Students demonstrated some understanding of concepts of capital investment options covered in this question. Correct conclusion was made, however few mistakes occurred in the calculation process.

Students demonstrated good understanding of concepts of capital investment options, Excel formulas were provided, correct recommendations were reached and explanation has been provided. Minor mistakes in calculations occurred but have not resulted in a wrong decision.

Excellent knowledge and practical application of concepts of capital investment options covered in this task. Students applied the time value of money correctly, provided all formulas in Excel. The recommendation

regarding the project is correct has been supported by facts and explained in detail.

 

Development of

activities for business

with a budget provided

 

 

 

 

 

 

 

 

 

 

 

 

 

22%

Minority of the promotional items or suppliers were suited to the task given. Excel formulas were missing. The template has not been used properly, the numbers are not adding up. Students went over budget.

Some promotional items and suppliers were not suited to the task given. Excel formulas were missing, but overall template has been used correctly. Many mistakes in calculations have been present; however, students were still within the budget given to them.

Majority of the promotional items and event suppliers were suited to the task given. Excel formulas have been provided with minor mistakes. Students were in line with the financial constrains given to them.

Majority of the promotional items or event suppliers were well suited to the task given. Excel formulas have been provided with minor mistakes in calculations. Students were in line with the financial constrains given to them.

Students have chosen appropriate promotional activities or event suppliers. Correct quantities were applied and appropriate costing or budget provided. Students were in line with the financial constrains given to them. All required references have been provided. All Excel formulas have been provided with no mistakes in calculations.

 

 

Cost- Volume-Profit

Analysis

 

 

 

 

 

 

 

 

 

 

 

22%

The importance and application of CVP analysis to scenario is missing. Excel formulas are missing. The template has not been used properly, the numbers are not adding up.

Importance of CVP and application to scenario is not suited. Excel formulas are missing, but overall template has been used correctly. Many mistakes in calculations are present.

Students have performed majority of the required calculations. Satisfactory CVP analysis and application to the scenario is performed. Excel formulas have been provided with minor mistakes.

Students have performed majority of the required calculations. Correct formulas are applied. Students are mostly aware of the importance of CVP analysis and are able to apply it to scenario. Excel formulas have been provided with minor mistakes in calculations.

Students have performed

all the required calculations. Correct formulas are applied. Students are well aware of the importance of CVP analysis and are able to apply it to scenario. All required references have been provided. All Excel formulas have been provided with no mistakes in calculations.

Correct citation of key

resources and evidence

 

Overall structure, appearance and referencing of the

report are assessed

 

 

 

 

 

 

 

12%

Demonstrates inconsistent use of good quality, credible and relevant resources to support and develop ideas. Less than 4 good quality references provided. Has not correctly used APA referencing style.

Demonstrates use of credible and relevant resources to support and develop ideas, but these are not always explicit or well developed. At least 4 good quality references provided. Multiple mistakes and errors in reference list.

Demonstrates use of high quality, credible and relevant resources to support and develop ideas. At least 6 good quality references provided. Some mistakes and errors in reference list.

Demonstrates use of good quality, credible and relevant resources to support and develop arguments and statements. Shows evidence of wide scope within the organisation for sourcing evidence. At least 6 good quality references provided. Few mistakes and errors in reference list.

Demonstrates use of high- quality, credible and relevant resources to support and develop arguments and position statements. Shows evidence of wide scope within and without the organisation for sourcing evidence. At more than 6 good quality references provided. No mistakes and errors in reference list.

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