Registration for BBA teams to sign up for 15 minute consulting sessions with accountants from our competition sponsor, BDO Dunwoody, opens on Friday at 8:30am.
These sessions are invaluable for your new venture projects leading into the competition. But please take it seriously - come with questions prepared, and if you sign up, show up!
There are limited spots available.
Please take note of the following errors in the Lab Manual in Lab #7:
On page 298, in the answer to 1. (a) under Capital Expenditures or Change in Gross Fixed Assets it should read Change in Net Fixed Assets + Change in Depreciation = ($380,000-300,000) + ($55,000 - 40,000) = $95,000; Cash Burn should therefore be $1,270,000 + 143,000 + 120,000 - 70,000 + 95,000 = $1,558,000; and Net Cash Burn should be $1,558,000 - 1,500,000 = $58,000
On page 299, the answer to 1. (b) should be $58,000/12 = $4,833.33 and therefore there are 10 months of cash remaining ($50,000/4,833.33)
On page 299, ignore the answer to 2. (a). The answer labelled (b) is the answer to part (a) and the answer labelled (c) is the answer to (b). Also ignore the answer to 3. (a).
On page 300, ignore the answer to (b). The answer to (c) should be: Cash build = $450 - 30 = $420,000; Cash burn = ($270+46+4+30) + 53 - (15+13) + 90 = $350 + 53 - 28 + 90 = $465,000; and therefore Net cash burn = $45,000
NOTE: There will be 3 important research workshops put on by the library to help you with your new venture projects - in particular, finding information for your sales forecasts. Check the announements slidedeck posted on the website and shown at the beginning of classes, or check the library website under Events and Workshops.
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