Assignment
TOPIC:- Cynthia's hairdressing and beauty saloon
REQUIRED
It is the responsibility of you as the newly appointed accounting and finance person to determine, decideand recommend on the following:
- Discuss the factors that need to be considered in selecting or using an appropriate business structure
- Explain the basic advantages and disadvantages of a sole proprietary, partnership and a company; in relation to selected business
- Identify and describe the nature and types of both
1. financial information; and
2. non-financial information required.
(List and define each of them andyou would need to also emphase on the more pertinent and important data for the business to focus on.)
- Outline the main accounting and supporting systems you would envisage for operating the business. (You can illustrate with relevant spreadsheets and/or formats.)
- Describe the significance and applicability of the 4 main accounting assumptions in the accounts of your business.
- Describe the possible capital expenditure decisions that could arise the course of your business.
- How would you likely do the planning and budgeting for your business (i.e. for more immediate future and for 3 to 5 years ahead)?