Digital Wine World (DW99) is an Australian Publicly listed company that aims to identify and invest in early-stage technology-driven ventures that have the potential to disrupt and or digitally transform segments within the global beverage market. DW99 plans to solidify its presence in Australasia, then expanding into other key markets such as USA, UK, Europe, Canada, Hong Kong and Singapore

The platform provides users two key solutions: MARKET - direct-to-trade wholesale; DIRECT - direct-to-consumer sales channel manager.

Benefits for suppliers include: Increased Reach & Incremental Sales Improved Profit Margins; Quicker & Guaranteed Payments Reduced Costs and Administration. Benefits to buyers include Single Order, Invoice, Delivery & Payment Flexible Payment & Credit Options; Access to a Broad Product Range Streamlined Delivery Service

Revenue is generated via:

• Market Trading Fees (% of the wholesale transaction value)
• Channel Management Fees (% of the retail transactions generated)

Answer the following questions

You are the Management Accountant of Digital Wine World (DW99). You are given the task of establishing the budgeting, planning and control, strategic plan for the company.

1. Why is the Budgeting process essential forDW99? (6 Marks)

1. Why is a planning and control, Strategic plan important for DW99? (6 Marks)

1. Prepare an example of the Sales Budget for the quarter and the year for DW99.

(6 Marks)

How can the 'budgeting, planning and control, set up strategic goals' be used to improve business performance? (give four recommendations).