Milestone 1 variableFixed Tab ACC 202 Final Project Guidelin

ACC 202 Final Project Guidelines and Rubric Overvievw Successful entrepreneurs understand all aspects of business, especially costs and costing systems. Managerial accounting provides a framework for strategic analysis and planning with regard to cost behaviors and costing systems. In this final project, you have the opportunity to act as an entrepreneur and apply managerial accounting principles to evaluate and manage costs related to your products within a costing system. Additionally, you will demonstrate your ability to communicate your findings effectively to internal stakeholders, just as an actual business owner would need to do. Specifically, you will assume the role of the owner of a hypothetical small business. In your milestone work, you will develop financial strategies prior to opening your business. For the final submission, you will create a presentation for your investors after your business has been in operation for a certain period of time. You will use the provided scenarios to complete your project. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, and Five. The final product will be submitted in Module Seven In this assignment, you will demonstrate your mastery of the following course outcomes ACC-202-01: Apply fundamental costing systems to optimize operations within a business ACC-202-02: Assess financial performance to communicate financial planning strategies to internal stakeholders ACC-202-03: Leverage fundamental managerial accounting methods to support the mission of an organization . Prompt In a detailed presentation (12 to 15 slides in length, plus speaker notes and an addendum), explain and defend your costing strategies (i.e., the business plan created in your first and second milestones) and share your business\'s performance to-date (i.e., the work from your third milestone). Be sure to effectively communicate to your stakeholders by breaking down concepts and using investor-friendly language to build their trust and confidence. Specifically, the following critical elements must be addressed. Most of the critical elements align with a particular course outcome (shown in brackets) I. Introduce your presentation A. Outline your company\'s profile, including its name, location, and mission and vision. B. Explain for your investors the purpose of the presentation. What do you plan to communicate, and why should your investors pay attention? In other words, try to persuade your investors that the accounting information you are about to share is important. [ACC-202-03] Explain and defend your methods for generating the information that you are about to share in terms of your adherence to industry standards and the AICPA code of ethics. In other words, why should your investors trust that you are delivering accurate financial data and that your decision-making process has been ethical? [ACC-202-03] C.

Solution

cherry\'s pet care facility

1)purpose of ppresentation- managerial accounting ininvolves infinformation about financial business.it hhelphelps to know the profit and cashflow where business earn from various product aand seservices.it helps the people outside the conpany to know that how well our organisation working. It helps to know the all the information about the organisanisation to management team.managerial accoaccounting doesnt follow any riules as any other accounounting . Every one can understand ththe managemeement accounting and they can easily learn. It helps to increase the accuracy iin the orgorganisation.

B)defend of methods-company should concentrate on security for holding accountant details and also they should be very profitable but it should be in privacy.as it can leaf to security problem

C)support and mission-strategy wil take important roll.company should take support from others which wil help yhem to gain some knowledge about accounting and proffit and loss details.mission should always be in the top first list.

D)mission of managerial accounting-it helps to privide a correct knowlede about redearch and devolopment,and managerial accounting will help to have a collabarative relationship and helps to get outstanding faculty and staff and it helps to get innovative people and also it helps to have a good relationship woth stakeholders.

2.we use jjob ordering cost it is nothing but wwe wil provide a manufacturing ccost for product and services.we wil receive a order of particular design color products.when compaanies provide job ordering cocost it wil be very difficult task to complete it bececause for each nnd every individul product we need keep account but we value orders and cucuatomers and ready to take sucuch risk.there are many cost accounting but i would like tto compare managerial accounting jjob order costiong tto process costing.procescess coscostiing we need to maintain manufactfacturing cost seseperatetely for each process.jod order costing we need to maintainm mannufacturing cost for each and every individual order.there is tradittional costtng method where need to maintain accounting details for every job or every proccess.

B) i have given the correct selling price for grooming and other facilities. If i sell more than one product we assume. That only one product is sold bcoz i we are selling each and every product at a reasonable price where others can easily buy and it wil not affect their money.

C)we have stick to target profit basis not more than that .we are working as cost volume profit analysis.where sales price per unit is constant,variable cost per unit will be constant,fixed cost will be constant.

D)we are following cost margin distribution profit policy where it is used only for internal purpose.

3)cost of goods sold

Groomee 12

Day care attendent 9

Receptuonust 850

Kennel attendent 11.50

Food and water bowls 3.59

Fencing of day care area 1249

Dog grooming arm 300

Kennels 8540

Grooming table 900

Grooming tub 2800

Clippers 136.99

Carry cat .90

B) day care attendent 480

Groomer 9

Receptionist 255

Kennel attendent 11.50

5) groomer 12

Day care attendent 9

Receptionist 850

Kennel attendent 11.50

Food and water bowl 3.59

Fencing of day care area 1249

Dog grooming arm 300

Kennels 8540

Groom table 900

Grooming tub 2800

Clippers 136.99

Carry cart 90