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    Case 1: Anna'S Business Idea

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    Divantri Faadhilah
    Anna is considering early retirement from her human resources career to start her own business. She understands most new businesses fail within 5 years and wants to prepare well through detailed record keeping. Anna has ideas for a coffee shop, daycare, grocery store, consulting firm, beauty salon, or pet shop but lacks accounting knowledge. As her advisor, you will help identify information needs and reports for one of her ideas, prepare a chart of accounts, and document processing of sales data into financial and managerial reports.

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    Case 1: Anna'S Business Idea

    Uploaded by

    Divantri Faadhilah
    167 views1 page
    Anna is considering early retirement from her human resources career to start her own business. She understands most new businesses fail within 5 years and wants to prepare well through detailed record keeping. Anna has ideas for a coffee shop, daycare, grocery store, consulting firm, beauty salon, or pet shop but lacks accounting knowledge. As her advisor, you will help identify information needs and reports for one of her ideas, prepare a chart of accounts, and document processing of sales data into financial and managerial reports.

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    Original Title

    ANNAs INFORMATION NEED

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    Anna is considering early retirement from her human resources career to start her own business. She understands most new businesses fail within 5 years and wants to prepare well through detailed record keeping. Anna has ideas for a coffee shop, daycare, grocery store, consulting firm, beauty salon, or pet shop but lacks accounting knowledge. As her advisor, you will help identify information needs and reports for one of her ideas, prepare a chart of accounts, and document processing of sales data into financial and managerial reports.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    167 views1 page

    Case 1: Anna'S Business Idea

    Uploaded by

    Divantri Faadhilah
    Anna is considering early retirement from her human resources career to start her own business. She understands most new businesses fail within 5 years and wants to prepare well through detailed record keeping. Anna has ideas for a coffee shop, daycare, grocery store, consulting firm, beauty salon, or pet shop but lacks accounting knowledge. As her advisor, you will help identify information needs and reports for one of her ideas, prepare a chart of accounts, and document processing of sales data into financial and managerial reports.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    CASE 1 : ANNA’s BUSINESS IDEA

    After working more that 10 years as human resource specialist in a multinational company, Anna is
    considering to participate in early pension program offered by the company and start her own business.
    She reads an article about the statistic by The Bureau of Labor that 65% of new businesses in the United
    States fail within the first five years, while only 25% make it to 15 years or further (U.S. Bureau of Labor
    Statistics, 2019). She understands that her decision is a very risky one, so that she needs to prepare herself
    well.

    After reading several business books, she summarizes key factors to successful business, one of which is
    detailed record keeping. Good records will inform her the business’s financial status and performance.
    Proper records also help her to identify what could potentially become a problem and assist in business
    planning. However, Anna does not have any idea at all about accounting so she comes to you to seek
    advice.

    Anna has several business ideas in mind, as follows:

    1. Coffee shop that serves for dine-in, take away and delivery.
    2. Day care service for babies and toddlers
    3. Grocery store
    4. Human Resource Consulting firm
    5. Beauty salon and day spa
    6. Pet shop

    As accounting advisor for Anna, your group will do the following to help Anna setting up her business.
    a. Identify information needs for one of the business listed above, so that Anna has good control over
    her business.
    b. Determine reports that should be prepared to meet the information needs, both financial reports and
    managerial reports
    c. Prepare Chart of Accounts that will be used to classify transactions in order to generate various
    reports for Anna
    d. Draw a context diagram and DFD level 1 to document processing of sales data into financial reports
    and managerial reports.

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