Accounting for Decision Making-
Learning Objectives-
- To understand the types of information included in a business case and how the content of the business case will be shaped by the information needs of interested stakeholders;
- To develop reasonable and robust estimates of the financial costs of major projects and to explore alternative ways in which such projects may be financed;
- To develop reasonable and robust estimates of the costs and benefits (financial and non-financial) of the ongoing operation of a major project;
- Demonstrate an understanding of how risk may affect the estimates contained in the case;
- Produce a comprehensive Executive Summary of your case.
- To develop your ability to work effectively in a small, professional group.
- Clearly demonstrate the ability to reference all research using the APA 6th referencing method.
Assignment Task: The Melbourne International Flower and Garden Show
Background: The Melbourne International Flower and Garden Show is a flower show held annually since 1995 in early April (historically) each year in Melbourne, Australia.
Assignment Brief
Your group is required to formulate a Business Case including an Executive Summary and detailed research referencing for the 2017 Melbourne International Flower and Garden Show where exhibitors display their landscapes and floral designs encompassing the Nursery, Landscaping and Cut Flower industries. Historically this event has been staged at the heritage site of the Carlton Gardens and the Exhibition Building situated north-east of the Central Business District (CBD) of Melbourne.
Required:
Examine the 'Economic Impact' of staging the 2017 Melbourne International Flower and Garden Show. Your examination can be supported by contemporary historical data (1-2 years old) to give greater validity to your analysis.
Question 1: Economic Impact Statement: Stakeholders
Required: Your Economic Impact Statement should clearly identify all assumptions that have been made to support your position. Your response should include the impact on both primary and secondary stakeholders with particular reference but not excluding others - (i) State Government of Victoria (ii) City of Melbourne (iii) Exhibitors, Producers and Retailers in the Nursery, Landscaping and Cut Flower industries and (iv) Tour Operators and Tourism Victoria.
Question 2: Economic Impact Statement: Qualitative & Quantitative (Benefits, Costs, Risks, & Obligations)
Part B of the Economic Impact Statement is to focus on qualitative and quantitative benefits, cost and risks in staging the event in 2017. Your examination should examine issues relating to the licence renewals (costs and obligations) as regulated by the City of Melbourne, the degree of political and community support or lack of support for the event, international recognition within Australia and overseas and the impact that the rise of infotainment (referring to a type of media which provides a combination of information and entertainment) has on the possible success of the Melbourne International Flower and Garden Show in 2017 and beyond. Your response should be supported by detailed research. Supporting arguments can also be cited from similar events that are staged around the world such as the Chelsea Flower Show in London.
Required:
Question 3: Budgeted Income Statement:
Prepare a Budgeted Income Statement for the 2017 Melbourne International Flower and Garden Show. Your Budgeted Income Statement must have accompanying Explanation Notes - research evidence, assumptions made, subsidiary detailed calculations to validate all figures in the Budgeted Income Statement.
Attachment:- Assignment.rar