ACT 204 Financial Accounting or Manufacturing


1.You are required to form a business. Choose one of the following businesses (College, Restaurant, Café, Minimarket, Medical Centre, Construction business, Adventure Park, Tourist business, or any other business of your choice). Write a brief introduction about it (name, services or products, legal form, merchandising or manufacturing, retail or wholesale, size, industry, etc…) (This should be a new business that you are forming and not an existing business) 
2.In deciding on the legal form for your business, discuss the reasons for your choice. 
3.Discuss the different financing options to set up your business and the reasons for your choice (s). 
4.Identify the users of accounting information for your business and briefly discuss on how each can use the information. 
5.Assume that at some stage in the future the cash flow from operating activities for your business turned negative, discuss the various steps that you are likely to take to improve the situation. 
6.Assume that you want to improve the profitability of your business. Discuss the operational decisions that you are likely to take to improve the related ratios. 
7.Discuss the decisions you are likely to take to ensure your business survives the COVID-19 type of environment if it was to continue or to happen again. 
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