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13 Jul 2019

You might need to conduct some research of your own to completethis activity. Briefly describe (30 to 50 words each) what each ofthe terms refer to: Assets. Liabilities. Expenses. Equity. (pleaseanswer from the perspective of Australian Accounting Environment)(Please type up your answer)

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Jean Keeling
Jean KeelingLv2
15 Jul 2019

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Related questions

Briefly summarise GST regulations and obligations with reference to GST classifications and relevant materials and provide the correct BAS code for each of the tabled activities. (150รขย€ย“160 words)

Activity BAS code:-

1/.Total sales Export sales

2/.Other GST-free sales

3/.Capital purchases

4/.Non-capital purchases

5/.GST on sales

6/.GST on purchases

(Please answer according to Australian Accounting Environment) (Please type up your answer)

Could you help me with my accounting essay?

Note:

1.Answer the following questions in essayformat.

2.The essay must include an introduction, body, andconclusion, and address all relevant parts of each question. Yourresponse should be a minimum of 300 words in length. Make sure tocite any references you use. At a minimum, you must cite yourtextbook. Proper citation format for a reference includes the nameof the author(s), the title of the work, the date of thepublication, and the page number.

Cost-Volume-Profit Analysis

Suppose you have decided to start a business producing andselling a product of your choice from the following options: custombirthday cakes, lawn mowers or sport jackets.

For your essay, answer the following questions related to yourproduct:

Briefly describe the product you would produce and sell. Whatmarket will you target this product for? At what price would yousell your product? Make a projection of your sales in units for thefirst year of operations.

Make a detailed list of the materials needed to make yourproduct. (Use the textbook and/or outside research as necessary.)How much in materials will you need for the year? What is the costof these materials?

Make a list of expenses you would incur in your businessventure. (Use the textbook and/or outside research as necessary.)Examples include rent, utilities, insurance, direct labor,manufacturing overhead costs and so on. Estimate the cost of eachof these expenses per year.

Classify all of your expenses as either fixed or variable, andcalculate how many units of your product you would need to sell tobreak even.

How much operating income would you like to earn in the firstyear? Calculate how many units you would need to sell to meet yourtarget profit.

How realistic is your potential venture? Do you think yourtarget profit is achievable? Explain.

Could you help me with my accounting essay?

Note:

1.Answer the following questions in essayformat.

2.The essay must include an introduction, body, andconclusion, and address all relevant parts of each question. Yourresponse should be a minimum of 300 words in length. Make sure tocite any references you use. At a minimum, you must cite yourtextbook. Proper citation format for a reference includes the nameof the author(s), the title of the work, the date of thepublication, and the page number.

Cost-Volume-Profit Analysis

Suppose you have decided to start a business producing andselling a product of your choice from the following options: custombirthday cakes, lawn mowers or sport jackets.

For your essay, answer the following questions related to yourproduct:

Briefly describe the product you would produce and sell. Whatmarket will you target this product for? At what price would yousell your product? Make a projection of your sales in units for thefirst year of operations.

Make a detailed list of the materials needed to make yourproduct. (Use the textbook and/or outside research as necessary.)How much in materials will you need for the year? What is the costof these materials?

Make a list of expenses you would incur in your businessventure. (Use the textbook and/or outside research as necessary.)Examples include rent, utilities, insurance, direct labor,manufacturing overhead costs and so on. Estimate the cost of eachof these expenses per year.

Classify all of your expenses as either fixed or variable, andcalculate how many units of your product you would need to sell tobreak even.

How much operating income would you like to earn in the firstyear? Calculate how many units you would need to sell to meet yourtarget profit.

How realistic is your potential venture? Do you think yourtarget profit is achievable? Explain.

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