Do a Google search, using the name of your city and “online banking.” Examine the sites returned to determine:
How often is the account balance updated online?
Are monthly account statements available on line?
How far back (one month, two months…one year) can you retrieve statements and transactions?
Can you electronically transfer funds among your accounts?
Can you electronically pay bills?
Can you download bank account information into your small business computerized accounting system? If so, which systems are supported?
What is the cost of online banking?
Make a chart of your findings and report to your class.
Either by yourself or in a group of your fellow students, select a business that you could reasonably expect to be able to start and run right now. (This could be as simple as a T-shirt company.) Using the techniques learned in exercises 2 and 3, above, develop a set of estimates of (1) sales, (2) variable cost of product or service and (3) the amount of other costs (rent, electricity, transportation, etc…) that you would expect to incur. Using these estimates, create a set of budget schedules through the schedule of Cost Of Goods Manufactured And Sold.
Suppose you are going to open a consulting business. You are going to finish half of your garage to use as an office. Go to the ADA site and determine what accessibility requirements you must meet. Make a report to your class of your findings.
Assume that you own a 2005 Ford F750 Super Duty truck. The truck has been driven 32,000 miles. What is a reasonable disposal value for this truck? (Be sure to reducing your estimate of sales price by the costs of selling the asset.) What is the replacement value of this truck (in other words, how much would another F750 with 30k miles cost to find, buy, finance, deliver, and license)? Peruse newspaper ads, search the Internet, and talk with a truck salesman to estimate the truck’s fair market value. Make a report to your class of your findings.