First Work Year Budget: Guideline Spring 2021
The following reflects the guideline for your submission:
1. To be submitted using the drop box on BB by 11.59pm on March 1st 2021 – icon will be under “assignments” on BB. It will help me if you include your text narrative on the same workbook. Remember to include your last name in your excel file name.
2. The following requirements are necessary for this assignment:
2.1 Prepare a relatively detailed budgeted cash flow budget for your first year of working after your final year of your undergraduate studies. If you intend moving straight into full time graduate studies, assume that you instead entered the job market). Assume that you will be funding your own accommodation (sharing the cost with one other could be an option if this is likely).
Give thought to how best to allocate a surplus, or fund a deficit, and align such decisions with the balance sheet.
2.2 Prepare a personal balance sheet as at the end of that first year.
Please reflect the reference for any supporting information used in compiling your budgeted statements above.
2.3 Set out appropriate ratios that you feel would be useful in continuing to monitor your financial situation.
2.4 Write a brief report (approximately the equivalent of one page) evaluating the strengths and weaknesses of your planned first year, together with the opportunities or threats it presents for your intermediate and longer term goals (point form will be acceptable).
I may want to review the structure of your report so have a draft of your layout/format available at classes after the Feb 15th class in case I want to discuss it with you.
Part of the grade will be allocated to the professionalism of the document/report. The grade for this assignment will comprise 5% of your course grade.
Thanks
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