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Transcript

Learning Objectives

During this module we'll outline the key concepts you need to understand before starting the simulation. We'll also cover the goals you should aim to achieve, ensuring you're well-prepared for the tasks ahead.

Remembering

Understanding

Applying

Analysing

Evaluating

Creating

Detailed breakdown

Here's a breakdown of what's to come in the course.

Learning objectives

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Applying: Collect data from various sources.Analysing: Organise and compile the collected data.

Research Task

(30 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Applying: Clean and format the data, and identify key metrics.Analysing: Use visual tools to analyse trends and perform SWOT analysis.

Analysis Task

(30 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Creating: Develop insights and actionable recommendations based on data analysis.Evaluating: Assess the findings and provide recommendations.

Create Task

(20 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Creating: Compile a detailed report and prepare a presentation.Evaluating: Share and get feedback to improve the final output.

Document & Present

(15 minutes)

Remembering: Identify sources and steps for data collection. Understanding: Define the business question or objective.

Preparation Task

(10 minutes)

Evaluating: Reflect on the learning experience and its application.Understanding: Consider how the exercise enhanced skills and identify areas for further improvement.

Reflection Task

(10 minutes)

Detailed breakdown

Here's a breakdown of what's to come in the course.

Learning objectives

Conclusion

By the end of this activity, you will have gained practical experience in conducting a Break-Even Analysis, including data collection, scenario analysis, and creating a financial report. This will enhance your ability to perform Break-Even Analyses in real-world situations, a crucial skill for any Accountant in managing and advising on business finances.Now that you're all prepped, mark this section as complete and let's make a start on the simulation module!

Learning objectives

  • Select a hypothetical business scenario and gather the necessary financial data, such as fixed and variable costs, and sales price per unit.
  • Use spreadsheet software to input this data and calculate the break-even point.
  • Adjust variables to simulate different business conditions and observe the impact on the Break-Even Analysis.

  • Organise and format the collected financial data in a spreadsheet for further analysis.
  • Perform scenario analysis by altering fixed costs, variable costs, and sales prices to identify how these factors influence the break-even point.
  • Use this analysis to make informed business recommendations.

  • Compare the calculated results with industry benchmarks or hypothetical scenarios to assess the accuracy and reliability of the Break-Even Analysis.
  • Evaluate the potential business strategies based on the outcomes of the Break-Even Analysis, and determine which strategies would likely improve profitability.

  • Identify the key components involved in a Break-Even Analysis, including fixed costs, variable costs, contribution margin, and the formula to calculate the break-even point.
  • List the steps required to perform a Break-Even Analysis, such as data collection, calculation, scenario analysis, and report generation.

  • Summarise the key findings from the Break-Even Analysis in a professional financial report.
  • Develop visual aids, such as graphs and charts, to clearly illustrate the break-even point and its sensitivity to changes in costs and pricing.
  • Reflect on the process and consider how the skills and insights gained can be applied to real-world accounting tasks.

  • Explain the significance of Break-Even Analysis in financial decision-making, particularly in determining the minimum sales required to avoid losses.
  • Describe how changes in costs and pricing affect the break-even point and overall profitability of a business.
  • Identify benefits and limitations of Break-Even Analysis modelling.