Question
Can you please provide me with some suggestions or direction in answering or completing the task in the attached assessment Case Study:Snow and Leisure Equipment
Can you please provide me with some suggestions or direction in answering or completing the task in the attached assessment
Case Study:Snow and Leisure Equipment
Background Information:
Sam moved to the Blue Mountains a few years ago and opened a ski equipment store.This single store soon grew into a chain of four outlets spread from the New South Wales ski fields to the Victorian alps.The growth was more uncontrolled growth, with no strategic plan or financial guidance.Sam has even commented 'I can't believe how fast we've expanded'.
Although the business was profitable, there were a number of problems.Sales tended to be seasonal, slowing down once the snow had disappeared.Sam added fishing and camping equipment to the product line.The need to purchase and hold stock meant the cash available was quite low at times and the business relied on short-term bank loans to cover any cash shortages.
One part of Sam's business focused on skiing trips, which were arranged through local ski lodges, and included ski hire, lessons and lift passes.Reports from the company's financial accounting system indicated that this part of the business was losing money because of increasing costs.Sam felt that the business was not dealing with the best suppliers in terms of quality, delivery reliability and prices.As well the market for recreational equipment was becoming increasingly competitive and a number of the clients were now buying equipment online.
Sam is not sure what to do.The company's accountant had been managing the accounts since the business started and was very good at keeping the books, preparing the financial statements and tax returns, but did not really have a good understanding of the business.
Required:
This assessment will require you to demonstrate your oral communication skills taking into consideration the following, be prepared to listen and ask questions:
What type of information does Sam need to run the business and improve the business financial and operational performance.
You need to analyse what the issues are, what information would be useful to Sam, explain how this information will help with the decision making process.
Sam has approached the accountant on a number of occasions to seek her help in gathering and analysing information about the business, but she responds: 'You must be joking - I'm an accountant.My job is to look after the money side of the business!' Do you agree with this statement?Would ratio analysis help or are there other analysis techniques that could help provide the information needed.
How would you present any information to Sam, would you use graphs, financial analysis etc.Would the way the information is presented vary if you were required discuss the financial performance of the company to a group of colleagues.
Assessment Criteria
The teacher will use a similar checklist to the one below during the conversation to identify if you met the performance criteria described in the following table, to pass the assessment you need to be satisfactory in each of the performance criteria.
Assessment Criteria
Satisfactory (S) or Unsatisfactory (U)
Comments
What type of information does Sam need to run the business and improve the business financial and operational performance.You need to analyse what the issues are, what information would be useful to Sam, explain how this information will help with the decision making process.
Student analyses information:
Sam has approached the accountant on a number of occasions to seek her help in gathering and analysing information about the business, but she responds: 'You must be joking - I'm an accountant.My job is to look after the money side of the business!' Do you agree with this statement?Would ratio analysis help or are there other analysis techniques that could help provide the information needed.
Student provides and transmits solutions:
How would you present any information to Sam, would you use graphs, financial analysis etc.Would the way the information is presented vary if you were required discuss the financial performance of the company to a group of colleagues.
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