list of employees and payroll calculations four to six depreciation schedules with comments competitive analysis Step 1: Research. Identify a small business idea. Do some research to ensure that you can find a publicly-traded competitor to your business and can find the cost of some equipment necessary to run your business.Step 2: Generate employees.Generate several (2-3) employees for your business, noting their marital status and number of with holdings. Step 3: Select wages.Select a weekly, bi-weekly, or monthly pay period. Research and decide on appropriate wages for your employees. Make sure to include at least two employees with different types of wages (salary, hourly wage, piecework, and commission).Step 4: Calculate payroll.Calculate payroll for one pay period, including taxes and with holdings. Submit a list of your employees and their tax statuses along with your payroll calculations. Calculate the mean and standard deviation of your employees' wages for the given pay period. Step 5: Select equipment.Identify several (two to three) pieces of equipment necessary for your business. Research and determine the cost of that equipment, factoring in any markdowns and trade discounts. Use IRS property classes to determine depreciation category. Step 6: Create depreciation schedules.Create two depreciation schedules for each piece of equipment. The first table should always be a MAC RS depreciation table and each other table should be a unique method (straight-line, units of production, sum-of-the-year's-digits, or declining balance). Step 7: Create supplemental materials.Submit your depreciation tables along with a paragraph comparing rates of depreciation for MAC RS versus other methods and noting any differences between depreciation rates for different pieces of equipment. Step 8: Identify a competitor.Identify a publicly-traded competitor to your small business. Search online for “financials for public companies,” use a financial search engine, or use the Library of Congress Business Reference Services resource to find income statements and balance sheets for your competitor. Step 9: Perform horizontal and vertical analyze.Evaluate the financial health of your competitor by preparing a horizontal and vertical analysis of both income statements and balance sheets for the company. Write paragraph commenting on what you see and describing what it means for the company's financial health. Step 10: Apply the ratios.Apply all the financial ratios. Write paragraph commenting on these ratios and what they say about the financial position of your competitor. Submit your comments along with your balance sheet and income statement analyses and ratio calculations.
- list of employees and payroll calculations
- four to six
depreciation schedules with comments - competitive analysis
Step 1: Research.
Identify a small business idea. Do some research to ensure that you can find a publicly-traded competitor to your business and can find the cost of some equipment necessary to run your business.
Step 2: Generate employees.
Generate several (2-3) employees for your business, noting their marital status and number of with holdings.
Step 3: Select wages.
Select a weekly, bi-weekly, or monthly pay period. Research and decide on appropriate wages for your employees. Make sure to include at least two employees with different types of wages (salary, hourly wage, piecework, and commission).
Step 4: Calculate payroll.
Calculate payroll for one pay period, including taxes and with holdings. Submit a list of your employees and their tax statuses along with your payroll calculations. Calculate the mean and standard deviation of your employees' wages for the given pay period.
Step 5: Select equipment.
Identify several (two to three) pieces of equipment necessary for your business. Research and determine the cost of that equipment, factoring in any markdowns and trade discounts. Use IRS property classes to determine depreciation category.
Step 6: Create depreciation schedules.
Create two depreciation schedules for each piece of equipment. The first table should always be a MAC RS depreciation table and each other table should be a unique method (straight-line, units of production, sum-of-the-year's-digits, or declining balance).
Step 7: Create supplemental materials.
Submit your depreciation tables along with a paragraph comparing rates of depreciation for MAC RS versus other methods and noting any differences between depreciation rates for different pieces of equipment.
Step 8: Identify a competitor.
Identify a publicly-traded competitor to your small business. Search online for “financials for public companies,” use a financial search engine, or use the Library of Congress Business Reference Services resource to find income statements and balance sheets for your competitor.
Step 9: Perform horizontal and vertical analyze.
Evaluate the financial health of your competitor by preparing a horizontal and vertical analysis of both income statements and balance sheets for the company. Write paragraph commenting on what you see and describing what it means for the company's financial health.
Step 10: Apply the ratios.
Apply all the financial ratios. Write paragraph commenting on these ratios and what they say about the financial position of your competitor. Submit your comments along with your balance sheet and income statement analyses and ratio calculations.
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