Objective: To understand and apply the basic concepts of profit planning.
Grading: This project is worth 40 points.
Group/Individual assignment: This is a group assignment or individual assignment. If you choose to work in a group, you must evaluate your group members based upon their participation in the assignment. This evaluation must be turned in so that all group members receive the appropriate points. I also recommend that you use the collaboration feature in Canvas to share documents that you are working on with one another. Group size may not exceed 4 students.
Required: You need to prepare a comprehensive 6-month budget, including supporting schedules and a report for the period January 1, 2016 to June 30, 2016 for Napoleon, Inc (a fictional company). This project must include:
- Sales Forecast and Budget
- Cash Receipts budget
- Purchase budget
- Cash Purchases Disbursements budget
- Operating Expense budget
- Summary Cash budget
- Budgeted Income Statement
- Budgeted Balance Sheet
- A written Summary Report
Notes and Hints
- All 9 parts must be submitted before I grade the project.
- The schedules/budgets must be prepared on Excel. The templates I have prepared must be used as is.
- Part of this project is demonstrating proper use of Excel. You may only input a “hard number” into a pink cell. All yellow cells must be formula based (no numbers included – use appropriate cell referencing). You must include a copy of the formula version of the project or you will receive a 0 (zero).
- I recommend constructing the formulas for one month and then copying the formulas over to the remaining months.
- Rounding is encouraged and you may ignore interest and taxes.
- The budget templates and this instruction sheet are located on the budget project module. Make sure you save the file to excel and then open the file through Excel (not Internet Explorer).
- Check figures are also located on the budget project module.
- A written summary report, outlining the main issues and problems identified during the budgeting process and suggestions for improving the budget forecast. Don’t explain how you prepared the budget. Analyze the issues, including profitability, cash needs, and cost structure. Suggest at least 3 ways you can improve the business forecast for the next 6 months to a year. Test your suggestions by preparing revised budget schedule. Attached is an example of a budget report.
- The information for Napoleon, Inc. is on the budget project module.
**The rest of the instructions are in the file attached.
**This should be all the details that are needed for this project.
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