Select any Business- Small to medium size or any small to mid-size company/firm (of your own, someone in family, acquaintances, or in the neighborhood).

Collect the following information and data in respect of the same

Nature of Business- Product/Services being provided, no of years in existence, geographical presence

SWOT/TOWS Analysis

Cost Objects, Cost unit and major cost drivers for the business

How are the costs collected and recorded?

Is a formal cost control system in place for the business?

What are the steps taken for managing costs?

Any suggestions that you might want to make to the business for better cost control and management

prepare a unit cost statement - (data used could be dummy data) based on the inputs received from the business- the classification could be functional (Prime cost, factory cost, administrative overheads, etc) or based on cost behavior (fixed, variable, semi-variable etc)