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Sample Term Paper on Czars Electronic Enterprises

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Sample Term Paper on Czars Electronic Enterprises

Description of the Bussiness

In the establishment of an enterprise, there is a great need to initially prepare a business plan that acts as a premonition of the actual expected operational aspects of the firm. A number of aspects should be integrated in the business plan, as it should convey the full image of the organization. In order to ensure this, the business plan should be portioned into certain sections that guide on every aspect of the firm. These sections include background of the information, market analysis, market operations, the product itself, financial projections among other key sections that should be extensively discussed. The background information will focus on the creation of the idea and the factors that influenced a particular decision to be adopted. The market analysis however will elucidate the existing factors in the marketing that the organization will consider in its operations. The use of analysis, such as the porter’s five forces model will be vital in this section as it gives an insight of vital influencing factors (Wright & Gallun, 2008). In addition, SWOT analysis in most cases is central in this section. Through the analysis, extensive consideration of various market factors will be ensured hence allowing the firm competitive advantage at its inception point. Market operation section however will emphasize on the actual adoptions to be considered. Finally, in the financial projection section, the possible sources of finance to be considered are highlighted (Everingham, Kleynhans & Posthumus, 2007). Besides, the financial systems to be used are also examined critically. In the light of this, the paper will focus on the key aspects to be considered in the development of our electronic shop. Owing to the diversification of services to be ensured, thorough analysis of every aspect of the business plan will be key in order to achieve the actual insight of the business.

Product and Services

The business operation will resonate around providing customers with the latest electronic products, such as mobile phones, music systems, tablets, ideos, TVs, among many other products. The enterprise will operate like a distributing company by approaching various producers for request of their products and helping them to access the markets. Products to be distributed must be from leading companies in the market. Effective distribution and market access will be made possible through the use of pro-active agents with expertise in promotional aspects and communication skills. In addition, direct purchase by the final users from the enterprises will also be considered in the lines of operations. The staffing plan of the organization will be based on competitive methods. The selection procedures for the employees of the business will be through a vetting process making sure that the best individuals are considered. Both internal and external sources of employees will be adopted to curb inadequacy of the staff. Central in the staff management will be a number of motivation facets that the firm targets to adopt. Constant improvement of the working conditions aims at increasing the performance of the employees at various departments. The inclusive staffing process is to give the firm a competitive advantage over other competing organisations. The rationale behind the establishment of the enterprise is the constantly improving levels of technologies that offer consumers with an array of electronic products. Through these changing aspects, the demand for various electronic gadgets will always be high. The business will therefore aim at meeting these demands through availing the products.

Rationale Employed and Benefits

The main activity of Czars electronic enterprises will be to distribute the products to actual place where demand exists. The customers will initially make their requests and the specifications of products they need. The business will embark on the search of this product from producers and avail it to the specific location of the customer. This aspect of delivery will be a source of a number of benefits to the business. Customers’ loyalty will be established as the cost to be incurred by customers in transportation is eliminated. It will increase the existing relationship between the business and the customers (Greuning & Koen, 2001).

Sources of Finance

Equity finance and debt finance will be the major sources of the organisation funds. This will be clearly manifested on the financial statements of the business on the percentages to be solicited from each source.  Owing international operations, the organisation aims at using the General Accepted Accounting Principles in the construction of its financial statements.  The already set standards of financial analysis will aid comparison of the annual operations of the set up. In addition, these standards will be vital in the process of soliciting finance. International and local investors will readily analyse the viability of investing into the company through effective inclusion of these standards in the statements.

Projected Financial Statements of the Business

In line with the general accepted accounting principles, the statements below are the projected pro-forma balance sheet and income statement respectively.

Assets                                                                            Liabilities

Current Assets                                                            Current Liabilities

 

                                                                                    Accounts payable $0

                                                                          Notes payable $8,000

 Cash $30,000  

                                                                                    Interest payable $0

 Petty cash $1,400

 

Accounts receivable $0                                               Taxes payable $0

 

 

 

Food Inventory $2,300                                               Sales tax $0

Short-term investment $500

 

Long-term investment $1,500                                      Payroll accrual $0

 

Fixed assets

 

Land $10,000                                                               Long-term notes $400,000

 

           

                                                                        Total liabilities $408,000

 Buildings $168,000  

NET WORTH (owner equity) Improvements $91,000

Equipment $35,000                                           Proprietorship equity $5,700

 

Fixtures $20,000                                             Partnership equity $0

 

Automobile $8,000                                           Capital stock $0

 

Other assets $46,000                                       Surplus paid (earnings) $0

 

                                                                        Total net worth $5,700

Total assets $413,700                                       Total liabilities &$413,700

 

Projected Income statement of the Business

Sales                                     Year 1                                   Year 2                   Year 3

Sale of Printing  69,293                   86,617                   99,609

 

 

Total Sales                          69,293                                   86,617                   99,609

Cost-of-Goods-Sold        11,780 17%                          14,725 17%         16,934 17%

 

 

Gross Profit                        57,513                                  71,892                  82,676

 

Selling Expense                 8,700 13%                                            9,179 11%            9,683 10%

 

General & Administrative 37,914 55%     40,000 46%                          42,200 42%

Net Income before Taxes

and Interest       10,899 16%                          27,714 26%          30,793 31%

Interest                                                2,781 4%                             2,271 2.6%           1,707 1.7%
Income taxes                     2,029                                     5,111                     7,271

New Income or Loss 6,088 9%                    15,332 18%          21,814 22%

 

Czars Electronics Financial Statements.

Sources of Funds

Total Share Capital      55.67 55.67   55.67  55.67  55.67

Equity Share Capital    55.67   55.67   55.67  55.67  55.67

Share Application Money 0.00            0.00    0.00     0.00     0.00

Preference Share Capital 0.00  0.00    0.00     0.00    0.00

 Reserves                     -29.32 -29.70 -29.60  -29.77 -34.86

Revaluation Reserves 0.00     0.00     0.00    0.00     0.00

Net worth                     26.35   25.97   26.07   25.90   20.81

Secured Loans             0.00    0.00    0.00     0.00     10.00

Unsecured Loans         0.00    0.00     0.00    0.00    0.00

Total Debt                   0.00     0.00     0.00     0.00     10.00

Total Liabilities                        26.35   25.97   26.07   25.90   30.81

Application of Funds

 Gross Block                12.68   12.68   12.59   12.59   13.16

 Less: Accum. Depreciation 6.73 6.53 6.34 6.13 6.18

 Net Block                   5.95     6.15     6.25     6.46     6.98

Capital Work in Progress 0.00 0.00     0.00    0.00     0.00

Investments                 5.44     5.44     5.44    7.50     5.86

Inventories                   2.47    2.47     2.47     2.47     2.47

Sundry Debtors                        0.00     0.00    0.00     0.00     0.00

 Cash and Bank Balance 19.00            18.48   18.24   15.06  0.10

Total Current Assets 21.47   20.95   20.71 17.53   2.57

Loans and Advances   1.33     1.34    1.36     2.00    13.21

Fixed Deposits             0.00    0.00     0.00     0.00    10.00

 Total CA, Loans        22.80   22.29 22.07   19.53   25.78

 Deffered Credit                      0.00    0.00    0.00     0.00     0.00

Current Liabilities        0.03     0.14     0.89     1.48     1.71

 Provisions                   7.81     7.76    6.81     6.11    6.11

 Total CL & Provisions          7.84     7.90     7.70     7.59     7.82

Net Current Assets       14.96 14.39   14.37   11.94  17.96

Miscellaneous Expenses 0.00  0.00    0.00    0.00     0.00

Total Assets                26.35 25.98   26.06   25.90   30.80

 

Safeguarding Assets and other Resources of the Firm

In order to ensure that all the resources of the organisation are properly stored free from various risks, the management of the firm will undertake two measures. Initially, through constant auditing of the operations and the statements of the organisation, the management will ensure control of the resources. Secondly, through insurance covers, the assets of the firm will be prevented from a number of exposures such as, theft, fire, amongst other risks.

As evident in the above financial statement, the main source of the organisation funds is equity finance. This the company will achieve through issuance of ordinary and preference shares. In order to encourage the shareholders, the organisation will offer favourable rates of dividends at the stipulated periods (Khan  & Jain, 2000). Through loans, both secured and unsecured loans, the organisation will meet the funds requirement for the day to day operations. Payments to agents will be the major expense incurred in the management of operations.

 

 

Departments of the Organisation.

In order to ensure effectiveness in the firm’s procedures, there will be need to organise the organisation into various departments each with its defined goal to be attained within a specific period. These departments will also dictate the amount of expenditures to be occurred. Among the departments that will be essential in the operations of the entity include, purchase department, accounting department, human resource department, sales department and the accounting department (Khan & Jain, 2000). Every department shall be controlled from as central point and headed by a departmental manager. These departments will prepare their independent financial statements and present to the accounting department for determination of the company’s general financial statements.

In case of any changes in the accounting books, clear explanation will be considered against the change. In the case of changes affecting the assets of the business, both debit and credit entries will be ensured. The double entry system will be a central aspect in the accounting books since it clearly manifests the changes and effects on the financial position of the firm.

Impact of Regulations

The existing regulations in the domain of operation will be a vital aspect in the procedures of the firm. In bid to ensure effectiveness and efficiency, the executive of the firm will be keen to identify the existing regulations and integrate them in every facet of the firm. Tax obligation will be an essential part of the business. The tax allowance will be allowed in the calculations and preparations of various accounting statements of the organisation.  In regard to its shareholders and other stakeholders of the institution, the Sarbanes-Oxley Act will offer control (Everingham, Kleynhans & Posthumus, 2007). The act established by the US congress aims to protect the shareholders against any fraudulent and carelessness in the determination of the financial documents of the firm. Besides, the environmental act that prevents organisations from assuming actions that result into environmental pollution will also be pertinent in the operations. In strive to adhere to this policy, the firm will initially analyse every action to be adopted to ascertain that they are environmentally friendly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

Everingham, G. K., Kleynhans, J. E., & Posthumus, L. C. (2007). Principles of GAAP. Cape Town, South Africa: Juta.

Greuning, H., & Koen, M. (2001). International accounting standards: A practical guide. Washington, DC: World Bank.

Khan, M. Y., & Jain, P. K. (2000). Cost accounting. New Delhi: Tata McGraw-Hill Pub. Co. Ltd.

Wright, C. J., & Gallun, R. A. (2008). Fundamentals of oil & gas accounting. Tulsa, Okla: PennWell.

 

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