Memo Prompt: You are a member of the staff for an up and coming coffee shop that has acquired investors and constructed a new location in a central populated downtown area. Using Managerial Accounting concepts from our course, prepare a short memo to your direct supervisor (the CEO/CFO) outlining a sample budget for this first year of store operations. Be sure to include descriptions on why you selected this budgeting method, and how you could expect the budgeting methods to evolve as the business grows. Some items to discuss: - Objectives of budgeting for this business (including possible obstacles and impact of human behavior) - Purpose of your merno (intent and information on the scenario) - Which budgeting method/system would be best suited to this business - Present a sample budget within the memo - Examples of comparable businesses and what budgeting methods they use - Questions you might have that would need to be answered to provide further guidance - Conclusion of your recommendation and guidance Requirements: Your memo should be 1-2 pages in length, double-spaced, using a standard font and size (ex. Times New Roman, 12 point or Calibri, 12 point). It should be submitted in a Word Document format, so that I may add comments to your memo during my review. Any sources you utilize for discussion in your memo should be cited to the best of your ability. This could include a sub-note after the sentence or statement, which is then referenced at the end of the memo. Ex. (1) = source link. Or, you could state the source within the memo (an article source or website utilized), Citing of sources does not have to follow a standard format, but the sources should somehow be listed or shared. A full grading rubric is provided for clarity. Please review this extremely carefully. Your memo will be graded precisely out of 14 potential points, laid out in the rubric. Please ensure you have explicitly achleved and stated the requirements as outlined in the rubric. A well discussed memo can be achieved with a thoughtful Outline. Please consider having a peer or someone who you percelve to have exemplary writing skills review your memo before submission. \begin{tabular}{|c|c|c|c|} \hline Requirement: & \begin{tabular}{l} to Student Did NOT \\ Demonstrate This Criteria \end{tabular} & \begin{tabular}{l} +1 Student Attempted to \\ Demonstrate This Criteria \end{tabular} & \begin{tabular}{l} +2 Student Fully and \\ Completely Demonstrated \\ This Criteria \end{tabular} \\ \hline \begin{tabular}{l} Memo Length Was 1 - 2 pages in a 12 \\ point standard font, double-spaced, \\ submitted in a Word document \end{tabular} & \begin{tabular}{l} Memo Length or \\ Formatting Requirements \\ NOT Met \end{tabular} & \begin{tabular}{l} Missing SOME Memo \\ Length or Formatting \\ Requirements \end{tabular} & \begin{tabular}{l} Memo Contained AL \\ Required Length and \\ Formatting Requirements. \end{tabular} \\ \hline \begin{tabular}{l} Student Clearly Stated the Objective, \\ Purpose, and Conclusion of the Memo \end{tabular} & \begin{tabular}{l} Objective, Purpose, and \\ Conclusion not clearly \\ stated or defined \end{tabular} & \begin{tabular}{l} Portions of the Objective, \\ Purpose, and Conclusion \\ were stated or defined \end{tabular} & \begin{tabular}{l} The Objective, Purpose, \\ and Conclusion of the \\ memo was fully stated and \\ defined \end{tabular} \\ \hline \begin{tabular}{l} Student Remained on Topic and \\ References and Statements Related to \\ Budgeting as Discussed in the Course \end{tabular} & \begin{tabular}{l} Writing was not distinctly \\ laid out, or lacking \\ detail/information for the \\ reader \end{tabular} & \begin{tabular}{l} Writing was partially laid \\ out, but was lacking \\ certain relevant \\ detail/information for the \\ reader \end{tabular} & \begin{tabular}{l} Writing was Fully and \\ Completely laid out, and \\ included all relevant \\ detail/information for the \\ reader \end{tabular} \\ \hline \begin{tabular}{l} Student Cited Sources as Discussed \\ (induding a statement that information \\ presented is from experience, if applicable) \end{tabular} & \begin{tabular}{l} Sources were not indic \\ or cited \end{tabular} & \begin{tabular}{l} Some sources were \\ indicated or cited \end{tabular} & \begin{tabular}{l} All sources were indicated \\ or cited \end{tabular} \\ \hline \begin{tabular}{l} Student Formulated an Organized and \\ Thoughtful Memo \end{tabular} & \begin{tabular}{l} The submitted memo was \\ challenging to follow, did \\ not present information \\ logically or completely, \\ and did not formulate a \\ clear and summarized \\ analysis of budgeting \end{tabular} & \begin{tabular}{l} The submitted memo was \\ logical, but missed some \\ detail that made the \\ analysis incomplete or \\ lacking and therefore the \\ reader was unable to take \\ away the writer's synopsis \end{tabular} & \begin{tabular}{l} The submitted memo was \\ thorough and complete, \\ presenting the concepts, \\ the analysis, and \\ supporting detail in a \\ logical and summarized \\ way that allowed the \\ reader to understand the \\ writer's synopsis \end{tabular} \\ \hline \begin{tabular}{l} Student Exhibited Ability to Analyze \\ Course Concepts in an Independent \\ Scenario \end{tabular} & \begin{tabular}{l} Student was unable to take \\ a Course Concept and \\ consider the \\ impact/outcome in an \\ independent situation \end{tabular} & \begin{tabular}{l} Student was somewhat \\ able to take a Course \\ Concept and consider the \\ impact/outcome in an \\ independent situation \end{tabular} & \begin{tabular}{l} Student was completely \\ able to take a Course \\ Concepts and consider the \\ Impact/outcome in an \\ independent situation \end{tabular} \\ \hline \begin{tabular}{l} Student Exemplified Proper Grammar \\ and Sentence Structure (Complete \\ sentences, no grammatical or spelling \\ errors, etc) \end{tabular} & \begin{tabular}{l} Student did not apply \\ proper grammar/sentence \\ structure making the \\ Memo challenging to \\ follow as a reader \end{tabular} & \begin{tabular}{l} Student attempted to \\ apply proper \\ grammar/sentence \\ structure, although some \\ portions of the Memo \\ were challenging to follow \\ as a reader \end{tabular} & \begin{tabular}{l} Student completely \\ applied proper \\ grammar/sentence \\ structure, and the entirety \\ of the memo was simple to \\ follow as a reader \end{tabular} \\ \hline \end{tabular}