11 Aug The purpose of this project is to report on a possible new b

The purpose of this project is to report on a possible new business venture and to use your managerial accounting thought to provide evidence/support for your decision. Develop a realistic idea for a new business venture. To provide support for the development of the new business idea, you will assess the business environment, provide an evaluation of the product’s cost strategy. You present a financial performance overview for the first 3 years of operation, and evaluate the profitability of this investment.Project Objectives:Perform an external analysis of the industry, competition, and potential consumers.Analyze the strengths, weaknesses, opportunities, and threats (SWOT analysis) of the proposed business venture.Develop and present a unit price and cost analysis on product offerings.Budget three years of financial statements, including 1st year monthly cash budget, 3-year income statement, and balance sheet.The Specific Requirements:Perform an industry size-up. What are the strengths, weaknesses, threats, and opportunities of your business venture compared to the competition in the industry? (Use SWOT analysis).Prepare a per unit Product Cost Analysis, identifying variable and fixed costs, using Contribution Margin. Discuss the cost method chosen for your business.Prepare three years of projected income statements and balance sheets, and a monthly cash budget for year 1. The projections need to be reasonable. For a guide, use the Sample Final Project Financial Statement (Excel File). Include discussion of these specific managerial concepts in your final paper as they relate to your business venture:Cost Classifications (fixed vs. variable, product or period)Contribution MarginCost of Goods ManufacturedFinancial Ratio Analysis (Activity, Liquidity, Solvency, and Profitability)Performance Measurement using Return of Investment and Residual IncomeWould you launch the new business venture based on the analysis performed? Why or why not? Support your final recommendation.Summary of Project ComponentsModule 2: (05/17/2020) – Develop your new business venture. This must be approved by me before you can continue to Deliverable #2. (50 points possible)Module 3: (05/18/2020)- Prepare a brief SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) of your approved business venture. Calculate a Product Cost Analysis (per unit), identifying variable and fixed costs, showing Contribution Margin. Discuss the cost method chosen for your business. (50 points possible) Module 6: (05/19/2020) – Create a three-year company budgeted income statement, balance sheet and 1st year’s monthly cash flow projection. Include ROI and selected Financial Ratios useful in determining profitability of your business venture. (50 points possible)Final Project Written Analysis (05/21/2020) Using the feedback from your deliverable assignments, write a 12-15 page analysis explaining your business venture. Include a SWOT (strengths, weaknesses, opportunities and threats) analysis of your business venture, its industry, a customer analysis, marketing plan, and 3-year projected budgets, and projected financial statements. Determine if you would launch the new business venture based on your analysis The analysis should be in APA style and include the following:Title pageAbstractTable of ContentsIntroductionMain BodyConclusionReferencesAppendix (if applicable)The title page, abstract, table of contents, references section, and appendix section if applicable do not count towards the length of your analysis. Use New Times Roman, 12-size font with one inch margins.Final Project Presentation (15 slides minimum excluding title and references) (05/21/2020).