It is a young business initiated in February, Currently, the business is a sole proprietorship engaged in the production, wholesale sales and distribution of Biscotti Rosa cookies. This plan has been written as a business operating guide and a finance proposal for investors.
The key importance of bookkeeping and financial administration is to extract accurate data and information for the preparation of useful financial statements such as the statement of financial position, statement of financial performance and cash flow statement, to mention a few principle ones.
The importance of bookkeeping and financial administration is as discussed below: Bookkeeping and financial administration facilitates the keeping of accurate and complete records. If the project does not keep accurate and complete records, it could end up paying more tax than is actually due to the South African Revenue Services because of a lack of evidence of tax deductible expenditure.
Another factor to consider is that in some cases the Accountant of the project charges according to how long it takes them to prepare the financial statements.
With proper and complete bookkeeping and financial administration, it shall be less complex, hassle free and time saving to prepare financial statements. Additionally, a key important reason is the fact that bookkeeping and financial administration ensures that the managing members have control over the project and that they can assess the profitability and cash flow situation of the business.
Ultimately the managing members shall be in a position to make decisions on the basis of the reports resulting from bookkeeping and financial administration.Free Sample Marketing Plans. Working on a marketing plan for your organization? Get practical ideas and good models with dozens of examples of successful marketing plans.
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In their accounting and bookkeeping sample business plan, The Sorcerer's Accountant state their goal to expand the utilities they currently provide, to include a new bookkeeping service for . The Sorcerer's Accountant accounting and bookkeeping business plan company summary.
The Sorcerer's Accountant is an existing one-person accounting and tax preparation service, planning to expand by adding bookkeeping services/5(58). Discover how to develop a business plan that will make bankers, prospective partners and investors line up at your door.
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