Expert answer:product and target 8
Expert answer:The final project is a fun, practical activity where you can apply what you are learning in the course to a select product and a target foreign market. Your task for the final project is to plan a realistic market launch, from introduction through stabilization of operations. “Launch” applies to the target market where you want to sell your product. You are to select a product (not a service), real or imagined, that will be launched in a country other than the United States. Your product may be produced in the U.S., in your target market, or elsewhere. You will submit your final project in this module. By now, you have already obtained approval for your proposal (submitted in Module 3) and have completed the project outline (submitted in Module 5). The final project will consist of your business plan and an Excel spreadsheet of anticipated cash flows (expenses and income) with the resulting bottom line (profit or loss) for each year. For the final project, you are responsible for presenting your analysis and conclusions on the following: The rationale for choosing your product. The rationale for choosing your target market. The rationale for choosing the country where your product will be made, including a brief background of the industry in the market, as well as competitors. The strategy you will employ to launch your product; items to include should include entry decisions and intended mode of entry. The organizational structure you selected to support the launch. Sales, marketing, logistics, cultural, and political aspects. Financial management considerations for the launch, including foreign currencies, tariffs, and overall foreign market exchange considerations. This paper will give you the opportunity to integrate all aspects of this course into a real-world scenario. Please be as realistic as possible. Show that you understand how to apply the concepts of this course in a practical project. While your instructor is more interested in your initiative, and the quality and realism of your analysis and conclusions versus the length of the paper, it is expected that the paper follow the aforementioned requirements. Things to Remember! Your paper should be 7 to 10 pages in length (not including title and reference pages). Your paper should be double-spaced, with 1-inch margins, in-text citations and references for all sources following proper APA formatting. See this Review of Balance Sheet and Income Statement Presentation [PPT file size 333.5 KB] if you would like to refresh your knowledge
m8a1___review_of_balance_sheet_and_income_statement.ppt
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Review of Balance Sheet &
Income Statement
The following are 9 transactions that
typical occur in any business. We selected
a Health Club showing the various
transactions & ending with the Balance
Sheet & Income Statement.
Issue Capital Stock for Cash
1/04 Transactions for
Glengarry Health Club
Stock
Certificate
Assets = Liabilities + Owners’ Equity
Cash
+ $ 100,000 =
Capital Stock
+ $ 100,000
The accounting equation must always
remain in balance
LO3
Purchase of Property in Exchange
for Note Payable
Assets
=
Land
+ $50,000
Liabilities + Owners’ Equity
Note Payable
= + $200,000
Building
+ $150,000
Increase on left has
corresponding increase on right
Purchase of Equipment
I.O.U.
on Account
Assets = Liabilities + Owners’ Equity
Equip. Accts. Pay.
+ $20,000 = + $20,000
At least two accounts affected
by every transaction
Effect of Revenue and Expenses on
Retained Earnings
Income Statement
Revenue
– Expenses
= Net Income
(loss)
Statement of
Retained Earnings
Beg. R/E
+ Net Income (or –
Net Loss)
– Dividends
= End. R/E
Sell Monthly Memberships
on Account
Assets
= Liabilities + Owners’ Equity
Accts. Rec.
+ $15,000 =
Retained Earnings
+ $15,000
Revenues increase retained earnings
Sell Court Time
Assets = Liabilities + Owners’ Equity
Cash
+ $5,000 =
Retained Earnings
+ $5,000
Revenues increase retained earnings
Payment of Wages and
Salaries
Assets = Liabilities + Owners’ Equity
Cash
– $10,000 =
Retained Earnings
– $10,000
Expenses decrease retained earnings
Payment of Utilities
Assets
= Liabilities + Owners’ Equity
Cash
– $3,000 =
Retained Earnings
– $3,000
Expenses also decrease assets or
increase liabilities
Collection of
Accounts Receivable
Assets
= Liabilities + Owners’ Equity
Cash
+ $4,000
= (no change in Liab. or R/E)
Accts. Rec.
– $4,000
Assets were traded:
accounts receivable for cash
Payment of Dividends
Assets = Liabilities + Owners’ Equity
Cash
– $2,000 =
Retained Earnings
– $2,000
Dividends directly reduce
retained earnings
Cumulative Effect of Transactions
for Glengarry Health Club
Assets = Liabilities
Sold stock
Bought prop.
with note
Bought equip.
on acct.
Sold
memberships
Sold court time
Paid wages
Paid utilities
Collected A/R
Paid dividends
+
+ $100,000 =
O/E
+ $100,000
+ 200,000 = + $200,000
+
20,000 = + 20,000
+
+
–
–
+
–
–
15,000
5,000
10,000
3,000
4,000
4,000
2,000
=
+ 15,000
=
+
5,000
=
– 10,000
=
–
3,000
= (no change in Liabilities + OE)
=
+ $325,000 = + $220,000
–
2,000
+ $105,000
Glengarry Health Club
Trial Balance
January 31, 2007
Debits
Cash
Accounts Receivable
Equipment
Building
Land
Accounts Payable
Notes Payable
Capital Stock
Membership Revenue
Court Fee Revenue
Wage Expense
Utility Expense
Dividends
Totals
Credits
$ 94,000
11,000
20,000
150,000
50,000
$ 20,000
200,000
100,000
15,000
5,000
10,000
3,000
2,000
$340,000
$340,000
LO7
Glengarry Health Club
Balance Sheet
January 31, 2007
Assets
Cash
$ 94,000
Accts. Rec.
11,000
Equipment
20,000
Building
150,000
Land
50,000
Total assets $325,000
Liabilities and Owners’ Equity
Accounts payable
$ 20,000
Notes payable
200,000
Capital stock
100,000
Retained earnings
5,000
Total liabilities
and owners’ equity $325,000
Glengarry Health Club
Income Statement
For the Month Ended January 31, 2007
Revenues:
Memberships
Court fees
Expenses:
Salaries and wages
Utilities
Net income
$15,000
5,000
$10,000
3,000
$20,000
13,000
$ 7,000
…
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