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Appendix 1 Estimated Financial Statement and Notes to the Accounts for the year to 31st December 2023 Estimated Income Statement - 31st December 2023 Velvet Chocolates Ltd 2023 Sales Revenue 4,532,500 Raw materials (1,359,250) Wages (299,200) Packaging (232,750) Cost ofsales 1,892,200! Gross Prot 2,640,300 Shipping 8: Distribution (122,500) Overheads 1 2,296, 5 31 I Operating Profit 221,269 Tax (55,31?) Profit after Tax 165,952 Dividend Paid (8,2981 Prot aer tax and 157,654 Notes to Accounts: Staff Costs (excluding 9 ACC2125 Pair Coursework Assignment 2023-24'docx Average number of 5 Average Salary in 2023 38,400 Directors Remuneration 350,000 Appendix 2 (to be included on excel worksheet 3) Assessment Individual contribution to Excel Coursework Discuss which parts of the coursework spreadsheet you were solely responsible for and those that involved the two of you and how you arrived at this allocation of responsibilities. (150 words each rnax.) Student One Student Number (150 words max.) % Contribution to spreadsheet Student Two Student Number (150 words max.) % Contribution to spreadsheet It is expected that both students will contribute to both the spreadsheet section and the written report. 10 ACC2 125 Pair Coursework Assignment 2023-24.docx WHERE THERE IS A SIGNIFICANT DIFFERENCE IN THE PARTICIPATION OF ONE STUDENT VERSUS THE OTHER THEIR MARKS WILL BE SCALED DOWN TO REFLECT THIS LACK OF INVOLVEMENT. For example if a student has contributed less than 50% to the excel spreadsheet then that student will not be eligible to the full marks available. Appendix 3 (to be included on rst page of word Report submitted through Iurnjtin) Assessment Individual contribution to Coursework Report on word Discuss which parts of the coursework report on word that you were solely responsible for and those that involved the two of you and how you arrived at this allocation of responsibilities. (100 words each max.) Student One Student Number (100 words max.) % Contribution to Report part (d) & (e) Student Two Student Number (100 words max.) % Contribution to Report part (d) & (c) It is expected that both students will contribute to both the spreadsheet section and the written report. WHERE THERE IS A SIGNIFICANT DIFFERENCE IN THE PARTICIPATION OF ONE STUDENT VERSUS THE OTHER THEIR MARKS WILL BE SCALED DOWN TO REFLECT TI-IIS LACK OF INVOLVEMENT. For example if a student has contributed less than 50% to the word report then that student will not be eligible to the full marks available. Marks Excellent Good Satisfactory Poor Unacceptable given Presentation, feedback and Lab participation: Consistency in 2 2 numerical presentation; Readability; Headings, Titles, 3 2 Format, Column widths etc N A Lab participation N W Feedback Participation Section total 14 14 11 7 5 4 Excel Skills for part (a), (b) and (c) forecast income statement and cash flow statement : Most efficient formulae to achieve objectives; 26 21 13 11 8 headings, drive data between sheets. Use of excel functions such as IF and conditional formatting. Numerical accuracy of 10 cash flow statements. Reasonable 10 8 5 Assumptions Identification of expenses 10 5 A Correct inflation factors 10 8 5 4 Section total 66 66 52 33 27 20Part ((1) Report Recommendations Identify differences Timing differences Advantages & Disadvantages of method Alternative method 6.5 LS 3.25 0.75 2.5 0.5 Section total 10 10 Part (e) Report Relevant Cost Estimate, clear assumptions and clear statement of ACCEPT or REJECT. Other commercial iactoms 2.5 2.5 1.5 1.5 Section total 10 10 Total 100 100 50 30 {ii} 12 Monthly Cash Forecasts plus Yearly Total for 2024 ONLY Month 1 Month 2 Month3 etc. Month 12 Year Total Inows Total Inows Expenses (detailed by expense type) x x Other outows ( detailed by type) x x Total Outows Net Movements Opening Balance Closing Balance 'Work Sheet 2' Cash Flow Workings + Assumptions Yearly Income Direct Expenses Materials Wages Overheads: (by individual expense type} Salaries Rent Audit Etc., etc. All assumptions to be clearly stated on 'Excel Worksheet 2' next to the expense or income ow Work in whole 's and ignore pence on front Summary. Write Both Student Numbers clearly at the top of worksheet l Formats should be along the lines of : 'Worksheet 1' (a) Yearly Forecast Income Statements (jterpjsed by each expense or income type for the year NOT in condensed format (as per in Appendix 1) (i) Income Statement based on predicted Financial Statements Last Year Year 1 Year 2 Year 3 Year 4 Year 5 2023 2024 2025 2026 202'? 2028 Sales Revenue Cost of Sales X X Gross Prot Gross Prot margin % Overhead Expenses (detailed by individual expense type) X X Total Expenses Operating Prot Operating Prot margin% Tax Prot After Tax Dividends Paid Prot aer Tax and Dividend Retained Earnings !J_Ifw_d Retained Earnings _t}y_d_