ACC 557 Assignment 2 You Are An Entrepr

Powerful Essays
Assignment 2: You are an Entrepreneur
Roxanne Joseph-Jerry
Strayer University
ACC 557 Financial Accounting ­­­Professor Daniel Terfassa
August 21, 2014

Table of Contents:
Executive Summary
Company Summary
Start Up Summary
Start Up Expenses
Income Statement
Balance Sheet
Internal Control
Compliance and Regulatory Bodies
References

Executive summary
ABC Learning Academy aims to prepare its students to excel as young leaders of tomorrow by combining an exclusive collegiate-based curriculum tailored specifically for children with enhanced, first class child care services. Unlike our competitors, we offer advanced technology programs, after-school tutoring and activities such as arts and crafts, dance, theatre and gymnastics, all in one location.
ABC Learning Academy is a privately held corporation run by its owner, Mrs. Evelyn Santana. Mrs. Santana has over 20 years of Directorship within an academic environment. With inflation continuing to rise each year, the typical American family now requires dual or supplemental incomes. This trend has created a need for quality child care services. The population growth in the Philadelphia area of Roxborough County is now over 15%, leading us to anticipate expanding market potential for this industry in our local area. Price, service, certification and reputation are critical success factors in the child care services industry. ABC Learning Academy will compete well in our market by offering competitive prices, high-quality child care services, and leading edge education program with certified, college educated instructors, and by maintaining an excellent reputation with parents and the community we serve.
This day care business plan will focus on two sub divisions: Manayunk and Upper Roxborough, which are new upscale community developments with a 2 square mile radius, boasting over 600 new homes. Our target customers are dual income, middle class families who value the quality of education and



References: Business Planning (http://Articles:BPLANS.com/Writing-A-Business-Plan Generally Accepted Accounting Principles (GAAP): Standards & Rules for Accountants Ryan Goodrich, BusinessNewsDaily http://www.businessnewsdaily.com/5486-generally-accepted-accounting-principles-gaap.html Accounting & Internal Control Procedures by Osmond Vitez, Demand Media http://smallbusiness.chron.com/accounting-internal-control-procedures-3795.html Weygandt, J.J. , Kimmel, P.D., & Kieso, D.E (2012). Financial Accounting. (8th ed.) Hoboken, NJ: John Wiley & Sons.

You May Also Find These Documents Helpful

  • Good Essays

    Acc 557 Assignment 2

    • 1149 Words
    • 5 Pages

    |You are an Entrepreneur ! | An international education company which send students to the U.S.A from Turkey. The exact definition of the company is based on Summer Work And Travel program. Let’s find the definition out with the help of 5W1H questions. WHO Participants of the program need to be a student who is/has: ages between 18-30; a full-time student of any university, a GPA 2.0/4.0, Sufficiently proficient…

    • 1149 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Acc 557

    • 2303 Words
    • 10 Pages

    ENTERPRENEUR Financial Accounting - ACC 557 ENTERPRENEUR Describe the type of business you have created including: a. The product or service, and general staffing plan. Provide a rationale for your plan. b. The form of your business and the benefits it offers your particular business, Introduction We decided to initiate a Bakery with the name and style of LadyDi’s First Class Bakery, Our bakery will provide freshly prepared bakery and pastry products at all times during business…

    • 2303 Words
    • 10 Pages
    Better Essays
  • Better Essays

    Acc 557

    • 814 Words
    • 4 Pages

    Ethics Case Study Dien Huynh University of Phoenix ACC/557 Accounting Ethics Instructor: MICHELE SCOTT 11/16/2012 Ethics Case Study The case study of Lillian Fok, Sandra Hartman and Kern Kwong in 2010 about differences and similarities in business ethical values has been done to examine ethical values that underlie business decisions in the U.S., China, and Jamaica. China transforms from a socialist based, command economy to a free market economy. Because of the transformation…

    • 814 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Acc 557

    • 660 Words
    • 3 Pages

    accompanying text in their classes. All recipients of this work are expected to abide by these restrictions and to honor the intended pedagogical purposes and the needs of other instructors who rely on these materials. If you purchased this work within the United States or Canada you should be aware that it has been imported without the approval of the Publisher or the Author. Editorial Director: Natalie Anderson Acquisitions Editor: Julie Broich Editorial Project Manager: Karen Kirincich Production…

    • 660 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Week 10 Assignment 2: You Are an Investment Analyst (Amazon vs.eBay) Shirmere N. Gardner Professor Pankaj Doshi ACC 557: Financial Accounting December 9, 2014 Analysis of Company Amazon eBay Company’s History Founded in 1994 by Jeff Bezos; American international electronic commerce company; World’s largest internet company Founded in 1995 by Pierre Omidyar; American multinational person-to-person auction website; dot-com e-commerce Products/services Offers everything from toys to video games…

    • 993 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Acc 557

    • 669 Words
    • 3 Pages

    CHAPTER 1: EXERCISE 1-5 Asset Cash Equipment Supplies Accounts receivable Liability Accounts payable Notes payable Salaries and wages payable Stockholders’ Equity Common stock EXERCISE 1-6 1. 2. 3. 4. 5. 6. 7. 8. 9. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’ equity. Increase in assets and increase in liabilities. Increase in assets and increase in stockholders’ equity. Decrease in assets and decrease in stockholders’…

    • 669 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    ACC 557 Entire Course

    • 350 Words
    • 3 Pages

    archive file ACC 557 Entire Course consists of the next docs: ACC 557 Week 1 Discussion Questions.doc ACC 557 Week 1 Individual Assignment Ethics Case Study.doc ACC 557 Week 2 Discussion Questions.doc ACC 557 Week 2 Individual Assignment Procedures to collect accounting evidence.doc ACC 557 Week 3 Discussion Questions.doc ACC 557 Week 3 Learning Team Assignment Ethical Challenges and Agency Issues.doc ACC 557 Week 4 Discussion Questions.doc ACC 557 Week 4 Individual…

    • 350 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    https://www.studypool.com/discuss/301199/how-do-i-complete-the-assignment-3-you-are-an-investment-analyst Company Analysis: PepsiCo and Coca Cola Your name Your Instructor’s name Course# Your Institution’s name Date Introduction Various organizations around the world have a lot of share in the market. These organizations try to make sure that, they work in such a manner that, they have a competitive advantage in the market. Here, in the present paper, the discussion shall include…

    • 2422 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    ACC 557 Week 1 Assignment

    • 330 Words
    • 2 Pages

    Week 1 Assignment-ACC557 Please complete Chapter 1 BYP1-4 and submit to the Dropbox. BYP1-4) a) The loss of $6,100 was based on the difference between the amount invested of $25,000 and the bank balance of $18,900 at March 31. This is not valid for determining income because it only shows the change in cash between to points in time. b) Using the balance sheet to conclude the net income is not valid because there is no net income on the balance sheet. You get the net income from…

    • 330 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Acc 557 Hmk Assign Week 2

    • 336 Words
    • 2 Pages

    Answer Close ------------------------------------------------- Top of Form Problem 3-1A Post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. (Post entries in the order of journal entries posted in the previous part of the question.) Cash | | | | No. 101 | Date | Explanation | Ref | Debit | Credit | Balance | June 30 | Balance | √ | | | | Accounts Receivable | | | | No. 112 | Date | Explanation | Ref | Debit…

    • 336 Words
    • 2 Pages
    Satisfactory Essays