Week 3 Final Project Details

Week 3 Final Project Detailsfinal Project Detailsnow That We Have Cove

Now that we have covered some of the basic concepts in managerial accounting, we might want to talk a little about the final project so you can keep the objectives of the project in mind as you work through the next few chapters. For your final project due in Week 8, you will create a new/enhanced program proposal. You may complete this as an individual or team exercise. You may complete any of the following formats: Submit a new program proposal (possibly one that you and/or your firm is working on now or recently completed), submit a proposal for capital equipment or a new position, or prepare a business proposal for a new start-up venture that you or a group are contemplating. Alternatively, you may prepare a proposal using the format provided in class or a format required by your current organization.

The proposal can focus on cost savings or revenue-generating programs. It is strongly recommended to use a program that you have or plan to propose to your organization, as this makes working with actual figures more feasible than creating a fictitious company. The proposal should include, but is not limited to, the following information:

• A brief description of the program and its alignment with the organizational mission.
• The pricing strategy for your product, including markup considerations.
• An analysis of return on investment, including Net Present Value (NPV) and/or payback period.
• If capital equipment is involved, an evaluation of lease versus buy options.
• If new personnel are required, complete the appropriate form and include a job description.
• Funding strategies for the new program.
• A one-year budget for the program.
• If creating a new business, details about its legal structure and chosen accounting methods, including reasons.

The final submission should not exceed 10 pages, including a cover sheet with the proposal type, team member names and roles, and an executive summary (maximum 250 words) on the second page summarizing the project and pertinent information.

Formatting is critical: present the information professionally and attractively. Use references with proper citations, include a title page and a table of contents for organization, ensure the document is double-spaced, spell-checked, and clearly structured. Only Microsoft Word or Excel may be used to develop the paper, and calculations should be shown. Submissions in .pdf format are also acceptable. If proprietary information is included, mark the document as confidential. The project must incorporate financial statements, capital expenditure worksheets, and other relevant accounting schedules to demonstrate numerical support and integration of financial data in the analysis, aligning with course objectives at BU.

Paper For Above instruction

The final project for this managerial accounting course requires the development of a comprehensive program proposal that combines financial analysis, strategic planning, and operational details. The goal is to create a viable business or program plan that demonstrates mastery of cost analysis, investment appraisal, budgeting, and organizational alignment. This exercise enhances practical application skills, preparing students for real-world managerial decision-making.

The starting point for the project involves selecting a real or proposed initiative relevant to the student's organization or personal entrepreneurial pursuits. Whether proposing a new product, service, or operational change, the project must be grounded in actual figures and supported by quantitative analysis. This focus makes the project more practical and relevant, as students can leverage real data, market analysis, and organizational insights.

The core components of the proposal include an executive summary briefly describing the initiative and its strategic significance. This section is limited to 250 words and should capture the essence of the proposal succinctly. The main body should detail the operational aspects, including product or service descriptions, pricing strategies, and alignment with the company's mission. It should also address the investment analysis, such as calculating NPV and payback period, which assess financial viability and project risks.

Further, if capital equipment is involved, the decision to lease or buy must be evaluated based on cost implications and company policies. Staffing needs are also crucial; if additional personnel are necessary, the proposal must include job descriptions and organizational impact. Funding sources should be clearly identified, whether through internal cash flows, loans, or external investments.

A detailed one-year budget must be prepared, presenting an expected income statement, cash flow projections, and balance sheet impact. For new ventures, legal structure and accounting methods need to be justified, considering tax implications and reporting requirements. The entire document must be professionally formatted, double-spaced, and including appropriate references with citations adhering to APA style or similar standards.

Calculations demonstrating cost estimates, revenue projections, capital expenditure analysis, and financial metrics are essential. These should be included as supporting schedules, reinforcing the numerical validity of the proposal. The final submission should not exceed 10 pages, with supplementary tables and worksheets as appendices where necessary. This comprehensive approach ensures the project is grounded in real financial data, strategic rationale, and professional presentation, necessary for successful managerial decision-making at the organizational level.

References

• Brigham, E. F., & Ehrhardt, M. C. (2016). Financial Management: Theory & Practice. Cengage Learning.
• Garrison, R. H., Noreen, E. W., & Brewer, P. C. (2018). Managerial Accounting. McGraw-Hill Education.
• Horngren, C. T., Sundem, G. L., & Stratton, W. O. (2014). Introduction to Managerial Accounting. Pearson.
• Drury, C. (2013). Management and Cost Accounting. Cengage Learning.
• Ross, S. A., Westerfield, R. W., & Jaffe, J. (2019). Corporate Finance. McGraw-Hill Education.
• Shim, J. K., & Siegel, J. G. (2019). Financial Management: A Practical Guide. Wiley.
• Kaplan, R. S., & Atkinson, A. A. (2015). Advanced Management Accounting. Pearson.
• Anthony, R. N., & Govindarajan, V. (2014). Management Control Systems. McGraw-Hill Education.
• Hilton, R. W., & Platt, D. (2016). Managerial Accounting: Creating Value in a Dynamic Business Environment. McGraw-Hill Education.
• Pyhrr, S. (2010). Budgeting: Profit Planning and Control. Prentice Hall.