Management Accounting Essay example

Submitted By Mamanas143
Words: 1579
Pages: 7
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Introduction

In this assignment I will produce financial business plan is made for a person to make a decision if they which to loan me capital for my business. The business is set by me and I have place content in the business in terms of satisfaction towards my customers and displeased customer’s needs. Since I build a new business which is a laddie’s handbag. I need the help of the bank to loan me £70000 which will be useable towards my advertising, rent, and wages, and I decides to pay you back every month, with the agreement that I will pay with interest till the payment of the loan is complete. Based on the agreement of the interest rate, I decide to go beyond my consumers’ prospects by distribution, Excellency, reliability and price through incessant development and improved consumer’s relations.

Objective of this report
A terrain was agreed monastery to this report; this report is an improved printed form of my terrain to express you extra about my Business, price, valuing etc. I essential your bank to credit me £7000 for publicity, rental and wages. I will pay every month (values with attention pending credit are clear.) the key impartial of this to assistance you to invent to a conclusion about loaning me the cash.

About my Business

This Business is an existing product but different brand so there is no direct competition when it comes to the brand name, a position market was exposed and after understood Primary and Secondary investigation, I am content to ongoing with the growth of this creation. This is the lone Laddies handbag with the brand name African fashion bag. This bag originates in different shapes and sizes.

Pricing African Fashion handbag

Afterward complete perusing of the market to get what my supernumerary contestants are accusing for related product is am pleased to approximately that there is no near rivalry as such as my creation proposal more price and additional aim for clienteles to be eager to fee more. As understood from the list African Fashion handbag is the most luxurious at £ and that’s for the reason that I proposal more standards to consumers. And too owing to the styles, sizes and shapes of the creation that has brand up greatest of my direct material cost. The valuing plan I reflect before selecting £ is rivalry dishonourable valuing, cost desirable pricing and worth improper as this does more than a handbag.

£
Product
Series
Prices
Volume
Material
Diameter/Height

Rwenzori Reversible Bag Kit

£21.70
14 x 13 inc
African fabric
35 x 32 cm

Batik Beach Tote Bag Kit

£26.80
40 x 33 cm dyed batiks
16 x 13 inc

African Fashion Handbag
34.99
42x36 cm
African print, ANKARA FABRIC
17x15 inc

Competition Benchmarking

The 12 stages I followed to compare my Business

Choice what is significant in my business
Recognise what client want
Classify possible contestants
Classify facts bases
Gather facts and choice associates
Control the opening
Found procedure changes
Board upcoming presentation
Interconnect
Regulate penalty area
Tool

By charitable the general presentation fraction that equivalent to one, formerly on a score of one to five, I liken myself with my contestant, general I wasn’t the preeminent but I am control to be the paramount in the business.

Demand Forecasting
In direct to be my approximate budgeted production estimation of 21250 unit I have used quantitative and formal methods, to do a number of cleverness congregation on the African Fashion Business, but while also attractive into thought that am a new maker with no consciousness, I do consider 21250 unit is a sensible start-up unit.

Cost

African Fashion Handbag Business is extremely in a straight line presumptuous, the African Fashion Handbag division are imported from china and African printed material from Ghana, and then assembled in my manufacturing works
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