You have been provided with an opportunity to develop a business concept with the view of starting

Fantastic news! We've Found the answer you've been seeking!

Question:

You have been provided with an opportunity to develop a business concept with the view of starting operations on September 1, 2021

Business concept chosen: Cosmetic business

Required:

In developing and delivering your presentation, your stakeholder would like (at the very least) to know the following:

Details of your proposed business, in particular:
- Is it service-based, retail, manufacturing, or a combination?
- Entity type (e.g. sole proprietor, corporation, LLC, partnership, etc.)
- Whether it will run online or at a location, or both?
- How much money you require to start up?
- Your short-term and long-term plans?
A proposed budget for your first year of operations.
Projected financial statement information for your first year of operations. A key stakeholder likes Excel, and would like to you create Financial Statement Templates to use in your first year of operations.
Calculate your profit margin and break-even point(s).
How you will account for property, plant and equipment (PPE).
A flow-chart of how the accounting cycle will apply and be implemented in your business.
Appropriate internal control measures that you will adopt.
How you will mitigate or otherwise embrace the present economic environment to facilitate your business’s ongoing sustainability.