Capstone – Project

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Growing Mysteria Cosmetics – Project 3 – Financial Planning & Analysis, Data Management

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Project Synopsis

PROJECT 3: Formalize Accounting System and Generate Key Statements and Reports

SYNOPSIS

All growing companies need to take control of their finances at some point. An accurate bookkeeping system can help companies secure outside capital, manage day-to-day operations, and make better financial decisions. Mysteria’s looking for your help in generating a repeatable, salable accounting system,including a high-level overview the key performance indicators they should be looking for in their business as they continue to scale.

 

 

Project Topics

Company Information

CompanyMysteria Cosmetics
HQIllinois
RevenueUnlisted
Employees1-5
StageEstablished Startup
Hiring PotentialFollow-on Projects, Formal Internship, Entry Level Full-Time, Upper Level Full-Time
Websitehttps://mysteriacosmetics.com/

Company Overview

Mysteria Cosmetics has taken off over the past year, selling ​thousands of units​ to customers ​across the globe​. Today, the company is scaling quickly, but the whole process, including sourcing raw materials, product development, product formulation,marketing, and sales are done by the two co-founders exclusively. They’re very excited to open up their company for the first time to students so that they can gain a better understanding of their business.

Experiential Learning Program Details

School-
Engagement Format- - -
Course
LevelN/A
Students EnrolledN/A
Meeting Day & TimeN/A
Student Time Commitment- Per Week
Company Time Commitment-
DurationN/A

Program Timeline

Touchpoints & Assignments Due Date Type

Key Project Milestones

  • September 15, 2019 - PART 1: Analysis of Key Financial Reports

    • Identify what information Mysteria has available
      • Sales Reports (sales volume by product/category)
      • Cost Reports (raw materials, shipping, transactions costs, legal/regulatory, equipment, etc.)
    • Request access to any additional materials needed to develop reports

     


    Suggested Deliverable:

    Milestone Deliverable – Due on September 15th:
    Review all the available documents related to the company’s financial position. Map out what’s included on each of these documents and what materials are needed in order to produce more thorough financial statements.

  • October 30, 2019 - PART 2: Develop Official Financial Statements

    • Income Statement / Statement of Cash Flows (Cash-Basis Accounting)
    • Balance Sheet
    • Produce an overview of insights that can be derived from these statements

    Suggested Deliverable:

    Milestone Deliverable – Due on October 30th:
    Produce the financial documents required that showcase Mysteria’s performance to-date and a snapshot of their current business. Produce an overview of the insights that can be derived from these financial statements.

  • November 15, 2019 - PART 3: Develop Key Performance Indicators

    • Job Costing Analysis (For one order, how much does it cost Mysteria to fulfill?)
    • Customer Acquisition Cost Analysis (Enlist Help from Project 1 Team)
    • Trend analysis (historically, since founding, how have certain metrics evolved)

    Suggested Deliverable:

    Milestone Deliverable – Due on November 15th:

    After quantifying job costing and customer acquisition costs,take a qualitative approach to analyze these figures (past, present, and future)

  • November 30, 2019 - PART 4: Develop Repeatable Process

    • How can the company continually generate reports with low effort
    • Map out process step-by-step for company to follow moving forward

     

     

     


    Suggested Deliverable:

    Milestone Deliverable – Due on November 30th:
    Provide Mysteria Cosmetics with an overview of their new accounting system, process, and outputs.

  • December 3, 2019 - Final Deliverable

    December 3rd: Mysteria Cosmetics is looking for a comprehensive overview of the work that was done. Prepare a presentation and paper that provides an overview of the process that was used and the results that were ultimately generated.


    Suggested Deliverable:

    Presentation and Paper

Project Resources

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Industry Mentors

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Academic Mentors

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Assigned Students

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