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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
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ASSESSMENT 4 BRIEF |
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Subject Code and Title |
BIZ201 Accounting for Decision Making |
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Assessment |
Scenario Analysis - Group |
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Individual/Group |
Group (3 - 4 students) |
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Length |
2,000 words |
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Learning Outcomes |
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Submission |
By 11:55 pm AEST/AEDT Sunday of Module 6 (Week 11) |
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Weighting |
40% |
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Total Marks |
100 |
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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:
First Name_Last Name_BIZ201_Assessment4_Workbook.xlsx
First Name_Last Name_BIZ201_Assessment4_Report.doc
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Crystal Hotel |
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The Crystal Hotel Pty Ltd has a quite flat organisational structure as per the chart below. The General Manager oversees each departmental manager directly.
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General |
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Manager |
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Executive |
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Manager |
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Rooms |
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Division |
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Human |
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Resources |
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Accounting |
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Sales and |
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Marketing |
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Functions |
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and Events |
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Food |
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&Beverage |
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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.
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Functions and Events Department |
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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:
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Format |
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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
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PLANTS REQUIREMENTS |
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Zamioculca Zamiifolia
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Hire Price (per item) Purchase Price (per item): $45 |
12 months: $80 |
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Raphis Excelsa |
Hire Price |
12 months: $275 |
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Quantity required: 15
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(per item) Purchase Price (per item): $135 |
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Howea Forsteriana
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Hire Price (per item) Purchase Price (per item): $60 |
12 months: $210
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Chamaedorea Elegans
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Hire Price (per item)
Purchase Price (per item): $70 |
12 months: $225 |
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APPENDIX 2
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Resources |
Quantity |
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Chair Cover Hire - Black Lycra with Aqua & Hot Pink Lycra Bands |
300 pieces |
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Gift Hampers |
10 pieces |
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Open Entertainment |
3 hours |
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Balloon centrepieces |
30 pieces |
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Guest Gifts |
300 pieces |
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Food Based on $30.08 per person (GST NA) |
300 people |
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Beverage based on $9 per person (GST NA) |
300 people |
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AV system and staging |
Provided internally |
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Event Staff Rate $22/hour GST Included in Rate |
70 hours |
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APPENDIX 3
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Discount Rates Present Value of $1 Received in n Periods of Time |
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Period |
1% |
2% |
3% |
4% |
5% |
6% |
7% |
8% |
9% |
10% |
Period |
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1 |
0.9901 |
0.9804 |
0.9709 |
0.9615 |
0.9524 |
0.9434 |
0.9346 |
0.9259 |
0.9174 |
0.9091 |
1 |
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2 |
0.9803 |
0.9612 |
0.9426 |
0.9246 |
0.9070 |
0.8900 |
0.8734 |
0.8573 |
0.8417 |
0.8264 |
2 |
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3 |
0.9706 |
0.9423 |
0.9151 |
0.8890 |
0.8638 |
0.8396 |
0.8163 |
0.7938 |
0.7722 |
0.7513 |
3 |
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4 |
0.9610 |
0.9238 |
0.8885 |
0.8548 |
0.8227 |
0.7921 |
0.7629 |
0.7350 |
0.7084 |
0.6830 |
4 |
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5 |
0.9515 |
0.0328 |
0.8626 |
0.8219 |
0.7835 |
0.7473 |
0.7130 |
0.6806 |
0.6499 |
0.6209 |
5 |
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6 |
0.0161 |
0.0176 |
0.8375 |
0.7903 |
0.7462 |
0.7050 |
0.6663 |
0.6302 |
0.5963 |
0.5645 |
6 |
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7 |
0.9327 |
0.0096 |
0.8131 |
0.7599 |
0.7107 |
0.6651 |
0.6227 |
0.5835 |
0.5470 |
0.5132 |
7 |
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8 |
0.9235 |
0.0053 |
0.7894 |
0.7307 |
0.6768 |
0.6274 |
0.5820 |
0.5403 |
0.5019 |
0.4665 |
8 |
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9 |
0.9143 |
0.7477 |
0.7664 |
0.7026 |
0.6446 |
0.5919 |
0.5439 |
0.5002 |
0.4604 |
0.4241 |
9 |
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10 |
0.9053 |
0.8401 |
0.7441 |
0.6756 |
0.6139 |
0.5584 |
0.5083 |
0.4632 |
0.4224 |
0.3855 |
10 |
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11 |
0.8963 |
0.9004 |
0.7224 |
0.6496 |
0.5847 |
0.5268 |
0.4751 |
0.4289 |
0.3875 |
0.3505 |
11 |
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12 |
0.8874 |
0.7885 |
0.7014 |
0.6246 |
0.5568 |
0.4970 |
0.4440 |
0.3971 |
0.3555 |
0.3186 |
12 |
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13 |
0.8787 |
0.7730 |
0.6810 |
0.6006 |
0.5303 |
0.4688 |
0.4150 |
0.3677 |
0.3262 |
0.2897 |
13 |
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14 |
0.8700 |
0.7579 |
0.6611 |
0.5775 |
0.5051 |
0.4423 |
0.3878 |
0.3405 |
0.2992 |
0.2633 |
14 |
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15 |
0.8613 |
0.7430 |
0.6419 |
0.5553 |
0.4810 |
0.4173 |
0.3624 |
0.3152 |
0.2745 |
0.2394 |
15 |
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16 |
0.8528 |
0.7284 |
0.6232 |
0.5339 |
0.4581 |
0.3936 |
0.3387 |
0.2919 |
0.2519 |
0.2176 |
16 |
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17 |
0.8444 |
0.7142 |
0.6050 |
0.5134 |
0.4363 |
0.3714 |
0.3166 |
0.2703 |
0.2311 |
0.1978 |
17 |
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18 |
0.8360 |
0.7002 |
0.5874 |
0.4936 |
0.4155 |
0.3503 |
0.2959 |
0.2502 |
0.2120 |
0.1799 |
18 |
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19 |
0.8277 |
0.6864 |
0.5703 |
0.4746 |
0.3957 |
0.3305 |
0.2765 |
0.2317 |
0.1945 |
0.1635 |
19 |
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20 |
0.8195 |
0.6730 |
0.5537 |
0.4564 |
0.3769 |
0.3118 |
0.2584 |
0.2145 |
0.1784 |
0.1486 |
20 |
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21 |
0.8114 |
0.6598 |
0.5375 |
0.4388 |
0.3589 |
0.2942 |
0.2415 |
0.1987 |
0.1637 |
0.1351 |
21 |
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22 |
0.8034 |
0.6468 |
0.5219 |
0.4220 |
0.3418 |
0.2775 |
0.2257 |
0.1839 |
0.1502 |
0.1228 |
22 |
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23 |
0.7954 |
0.6342 |
0.5067 |
0.4057 |
0.3256 |
0.2618 |
0.2109 |
0.1703 |
0.1378 |
0.1117 |
23 |
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24 |
0.7876 |
0.6217 |
0.4919 |
0.3901 |
0.3101 |
0.2470 |
0.1971 |
0.1577 |
0.1264 |
0.1015 |
24 |
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25 |
0.7798 |
0.6095 |
0.4776 |
0.3751 |
0.2953 |
0.2330 |
0.1842 |
0.1460 |
0.1160 |
0.0923 |
25 |
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26 |
0.7720 |
0.5976 |
0.4637 |
0.3607 |
0.2812 |
0.2198 |
0.1722 |
0.1352 |
0.1064 |
0.0839 |
26 |
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27 |
0.7644 |
0.5859 |
0.4502 |
0.3468 |
0.2678 |
0.2074 |
0.1609 |
0.1252 |
0.0976 |
0.0763 |
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BIZ201 Assessment 4 Brief Page 12
Learning Rubric: Assessment 4
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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% |
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Grade Description |
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. |
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Understanding of buy or hire decisions in business
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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 |
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22% |
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resulted in a wrong decision. |
and included detailed explanation supported by the analysis. |
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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. |
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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. |
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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. |
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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. |
(Parlour Palm) Quantity required: 35 
