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Introduction

London will host the Olympic Games in 2012, which will take place in 2012. The Olympic Games, one of the oldest and most successful and well-known sporting events in the world, mix multiple sports into a single competition. Spectators from all over the world would gladly attend the events, bringing with them several commercial opportunities and the potential for quick profit. This report would cover a new firm that was established with these considerations and the Olympic Games in mind.

The company is concentrating on stationary and food products. People who are likely to attend the activities will likely engage in some form of purchasing and will also purchase food to consume while attending. In addition to these food products, the company will also provide beverages and stationary supplies. There are numerous grocery stores, eateries, and stationery businesses in London. During the Olympic Games, however, the demand will be so great that the likelihood of this business generating a healthy profit margin will grow. The culinary items may include Pizzas, Burgers, Hot Dogs, Pastries, and Sandwiches, among others. The beverages may include sodas such as Pepsi, Coca-Cola, 7-Up, and others, beer, fruit juices, tea, and coffee. Stationary things may consist of sandals, an umbrella, or any other necessary item.

Cafe Olympia is the suggested name for the proposed store. This name was chosen to honor the ancient heritage of the Olympic games and the important customer relationship with the term "Olympia," given that the very first Olympic games were held in the ancient Greek city of "Olympia."

About the Poll

To forecast the demand of potential customers, a market study has been conducted. The survey method was employed since it is the most efficient approach to get accurate client feedback. This survey was conducted using a questionnaire as the survey instrument. The respondents were selected at random, and their responses to the questions were recorded in a database. There were numerous respondents to the survey, and 20 of them were chosen. They are randomly selected from the passing street population.

In this instance, the survey method is advantageous. Initially, the respondent became aware of the introduction of new stores throughout the Olympic period and will discover the store "Café Olympia" while attending the events. Second, the survey will reveal customer expectations as well as areas where they believe the business can improve. Thirdly, the survey will also assist in determining the demographics of potential clients. If there are any demographic tendencies, such as preferences for a particular dish by age group, the firm might be structured accordingly. Lastly, the survey will help evaluate the market, the spending power of potential clients, and the consumption habits of customers in relation to the products that "Café Olympia" will offer.

Preparing Questionnaire

As the survey instrument, a well-designed questionnaire was utilized. The questionnaire contains a variety of question types from which the respondent must select the most pertinent responses. There are also some free-response questions. The demographic section of the questionnaire was aligned at the outset. This section contains the age parameters of clients and other demographic information that will influence the consumption behavior. There are three distinct sections for food, beverages, and stationary. Each section begins with a common question designed to determine which Olympic events respondents would want to witness. Then, two further questions are asked to determine the pattern of amount and cost spent on events. The next two questions pertain to client preferences about in-home purchase and service delivery.

Results of a Public Opinion Survey

Various sorts of experience, information, and opinion are gathered utilizing the questionnaire as the survey instrument. The experiences were pretty favorable, and the attitude of the respondents towards the questionnaire and survey was cordial. Numerous respondents were contacted, but only 20 questions were chosen. Here, the survey results are given in table format.

The second question of section A concerned the respondents' ages. The outcomes are:

Age range Quantity of respondents

0-10 (Child) 0

11-19 (Teenage) 7

20-30 (Young) 4

31- 40 (Younger) 2

41-50 (Youngest) 7

51-60 (Aged) 0

60 years or older (Old) 0

Total 20

The next inquiry concerns the gender of the responses.

Male 10

Female 10

The first question in section B seeks to determine whether or not the responder will attend the Olympic events. The survey only examines questionnaire responses affirmative to this item.

The next inquiry asks, "How many days would you prefer to visit?"

Day range Quantity of respondents

a) 1-7

b) 8-14

c) 15 – 21

d) 22-28

e) 29-35

f) 36-42 1

2

9

6

0

2

Total 20

The following question was, "Which week of the six-week Olympic Games will you most likely attend?"

Price range Quantity of responses

a) 1st week

c) 2nd week

c) 3rd week

fourth week

fifth week

g) Sixth week

5

1

1

2

5

Total 20

Then, the section on questions of interest began. The first section contained food items. The first question asked, "Would you consider purchasing a slice of pizza/sandwich/hot dogs/burger/pastry/popcorn/chicken fries when attending the London 2012 Olympics? Twenty respondents to the street survey provided responses for various sorts of foods, yielding the following results:

Names of foods Quantity of respondents

a) Slice of pizza

b) Sandwich

c) Hot dogs

d) Burger

e) Pastry

f) Corn Kernels

g) Fried chicken 5

3

2

6

1

1

2

Total 20

And with the addition of this question, the supplemental question "How frequently/frequently?

This question was asked to determine the required quantities of these foods. The responses received were:

Quantity range Quantity of respondents

a) 1- 5

b) 6-10

c) 11-15

d) 16-20

e) Over twenty seven

8

3

1

1

Total 20

Then followed the query, "Where have you purchased before to the London Olympics?

Price range Quantity of responses

a) From retail stores

b) From restaurants

b) From renowned eateries 11

6

3

Total 20

In addition to this question, respondents were asked, "What is the most expensive purchase?"

Price range Quantity of responses

a) £ 1- 5

c) £ 6-10

d) £ 11-15

d) £ 16-20

f) Greater than £20 6

8

3

2

1

Total 20

The third question asked of the responder was, "Are you likely to buy gifts for friends and/or family during the London Olympic Games?"

Responses Quantity of respondents

a) Yes

b) No 18

2

Total 20

The respondents who responded affirmatively are then asked, "How many children and adults?

Responses Quantity of respondents

a) for youngsters

b) for adult 16

2

Total 18

The response to the query how many:

Quantity range Quantity of respondents

a) 1- 5

b) 6-10

c) 11-15

d) 16-20

e) Over twenty seven

6

3

2

2

Total 20

Then, the fourth question was posed, which read, "Describe your favorite (taste, color, size, etc.)" According to this question, respondents provided responses based on their preferences.

Preferences Quantity of agreeing respondents

a) Flavor

b) Coloring

c) Size 8

5

7

Total 20

The additional questions then requested some feedback. The respondents remark on their selection, and the resulting table is as follows:

Regarding taste

Preferences Quantity of agreeing respondents

a) Sour

b) Spicy

c) Sweet 4

2

1

Total 8

In the event of Color

Preferences Quantity of the selected respondent

a) Red

b) green 4

1

Total 5

Regarding size

Preferences Quantity of agreeing respondents

a) Big

c) Medium

c) Small 4

2

1

Total 7

The sixth question was regarding the importance of an item and asked, "What aspects of an item are significant to you when making a purchase?

Preferences Quantity of agreeing respondents

a) Convenience

c) Availability

d) Times of operation

d) Fast service 4

4

3

9

Total 20

The same questions were then asked based on the order of the beverages.

The initial question about beverages was, "Would you consider purchasing when attending the 2012 London Olympics?

Beverages Quantity of agreeing respondents

a) Soft drinks

b) Caffeine

b) Fruit juice

d) Beer 7

1

5

7

Total 20

The additional question that includes "How frequently/frequently?

Quantity range Quantity of respondents

a) 1- 5

b) 6-10

c) 11-15

d) 16-20

f) Over twenty 11

3

3

2

1

Total 20

The second question was, "Where have you purchased previously to the Olympic Games in London?

Price range Quantity of responses

a) From retail stores

b) From restaurants

b) From renowned eateries 16

2

2

Total 20

The reply was then asked, "And what is the most expensive purchase you have ever made?

Price range Quantity of responses

a) £ 1- 5

c) £ 6-10

d) £ 11-15

d) £ 16-20

f) Greater than £20 10

8

1

1

0

Total 20

The third question asked of the responder was, "Are you likely to buy gifts for friends and/or family during the London Olympic Games?"

Responses Quantity of respondents

a) Yes

b) No 17

3

Total 20

The respondents who responded affirmatively are then asked, "How many children and adults?

Responses Quantity of respondents

a) for youngsters

b) for adult 16

1

Total 17

The fourth question said, "Describe your favorite (flavor, color, size, etc.)?

" Those who chose soft drinks responded:

Preferences Quantity of agreeing respondents

a) Cola

c) Lemon lime

c) Extra 3

2

1

Total 7

Respondents who chose fruit juices responded:

Preferences Quantity of agreeing respondents

a) Orange

b) Mango

c) Other two

2

1

Total 5

The final question for the beverage segment was, "What purchase factors are most important to you?

Preferences Quantity of agreeing respondents

a) Convenience

c) Availability

d) Times of operation

d) Fast service 4

10

3

3

Total 20

The questions then turned to stationery.

"Would you consider making a purchase while attending the 2012 London Olympics?

Stationery Number of respondents who agreed

a) Umbrella

b) Hats

c) Sandals

d) Extra 3

5

9

3

Total 20

After "How frequently/frequently?

" was asked:

Quantity range Quantity of respondents

a) 1- 5

b) 6-10

c) 11-15

d) 16-20

d) Over twenty 16

1

1

1

1

Total 20

The inquiry then questioned, "Where have you made purchases previous to the London Olympic Games?

Price range Quantity of responses

a) From retail stores

c) From hawkers

b) From renowned stationery retailers 14

3

3

Total 20

The respondents were then asked, "What is the most costly purchase?

Price range Quantity of responses

a) £ 1- 5

c) £ 6-10

d) £ 11-15

d) £ 16-20

f) Greater than £20 5

1

12

1

1

Total 20

The respondent was then asked, "Are you likely to purchase gifts for friends and family during the London Olympic?"

Responses Quantity of respondents

a) Yes

b) No 7

13

Total 20

The respondents who responded affirmatively are then asked, "How many children and adults?

Responses Quantity of respondents

a) for youngsters

b) for adult 6

1

Total 7

The final question for the stationary portion asked, "What factors are most essential to you while purchasing?

Preferences Quantity of agreeing respondents

a) Convenience

c) Availability

d) Times of operation

d) Fast service 3

11

3

3

Total 20

Examination of Survey Results

The collected information can be analyzed based on the above outcomes. The study is based on observation and natural intuition in order to choose some precise and unambiguous facts about consumer preferences and to determine how customers perceive the products offered by "Café Olympia." Based on the analysis, the survey makes the following assumptions:

Young individuals and adolescents are more likely to watch Olympic events. Customers will participate in the events for an average number of days. That is, they are unattended for eight to twenty-eight days. In the first two weeks and the last week, the demand for the products will be significant. The most popular foods were pizzas, hamburgers, and sandwiches. Most favorite beverage item is soft drinks and beer. The majority of clients favor sandals, caps, and umbrellas. While watching Olympic activities, refreshments and stationery are preferred by the majority of customers. The majority of customers are willing to pay between 6 and 10 pounds for food, 1 and 5 pounds for beverages, and 11 to 15 pounds for stationery. Customers are most willing to purchase these items from street vendors. The majority of them favor the accessibility of these things. The majority of buyers purchase these products not just for immediate use, but also for consumption at home. The majority are willing to provide these items for the youngsters.

These assumptions are useful because they indicate the possible client segment, the product and offer range that customers desire, and the price range that customers are willing to pay for potential offerings.

Master Budget

The master budget is the complete budget of an organization, which includes sales, purchases, labor, and other direct costs. Using the following table in this report, the master budget for this business will be formulated.

Table: Cafe Olympia Master Budget in Six Weeks

Description/ Week 1 2 3 4 5 6

Total Sales £538000 £336000 £299700 £167000 £223000 £358400

Total Purchase £290500 £290500 £290500 £290500 £290500 £290500

Total Labor Expenses £3000 £3000 £3000 £3000 £3000 £3000 £3000 £3000 £3000

Other Direct Costs Total: £7500 £7500 £7500 £7500 £7500 £7500 £7500

= Cash Flow (Total Sales – Purchases + Labor + Other Direct Expenses) £243750 £5450 £(127250) £(71250) £64150

Initial Cash Balance £600000 £356250 £314500 $309050 $380300 $21225

Cash Balance at Closing (Opening Cash Balance – Cash Flow): £356250 £314500 $309050 $436300 $507550 £443400

Note:

This is a purchasing and selling firm, not a producing one. Therefore, overhead costs are unnecessary. This business is launched with a cash balance of £600,000. The annual cash flow costs are determined by total sales minus purchase, labor, and other direct expenses.

Sales Budget

Budget for sales is the foundation of the Master Budget, which is used to forecast sales by multiplying by unit. In this business related to the 2012 Olympic Games, it is believed that the following items would sell in London:

Foodstuffs:

Sandwich Hot dog Burger Pastry Popcorn Chicken fries

Beverages:

Soft drinks Cola Lemon lime Orange Flavoured Coffee Cappuccino Black Fruit juice Orange Mango Lemon Seasonal

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