Introduction:

Suppose you have just finished an accounting degree at the university and expect to enter the workforce. You always wanted to be an entrepreneur and start your own business. You can select any business venture to provide a unique product or service (e.g., catering, video production, web design
and others) to local customers.

For whatever business venture you select, you are asked to prepare a report and answer the following:

1. Explain the reasons for choosing this business venture and describe the contextual environment of your business venture.

2. What would the major costs of your business be?

3. What type of decisions you are expected to make that have implications for your cost of providing the product or service (hint: nature of customers, nature of service delivery, etc.)?

4. What allocation base do you think you would use to charge overhead for your product or service?