Acc 220 Business Plan Survey of Accounting: the Maze of Numbers.

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Business Plan Survey of Accounting: The Maze of Numbers ACC 220 Business Plan I have a passion for baking and have over 30 years of experience baking for my family and friends. For several years, I have pondered the thought of opening my own bakery which I would run out of my home. My specialties are cakes and pies. After discussing the possibility of opening a bakery with my friend Katherine we decided to enter into this business venture together and the name of the business would be “Sweet Southern Sensations”. Katherine also loves to bake, and has about the same amount of experience, but her specialty is making homemade candies and fudge. We determined between my cakes and pies and her candies the bakery would have a variety of items on the menu, but not too many were as we would become overwhelmed. Katherine and I both have an accounting background therefore we will both be involved in writing a business plan. We will put an equal amount of money into the business for startup cost such as a business license and permit, register our business name, get a tax identification number from the IRS, and purchasing equipment and ingredients. My husband has a marketing degree, and has volunteered to market the business. Once the initial business plan is in place we decided to hire a part-time accountant who has at least a Bachelor’s degree in accounting and is honest, well organized, good communication skills, and experienced with small businesses. Hopefully, we can find one who could be recommended by another small business owner. The accountant will handle with our annual reporting, help create a financial forecast and also help create a sales, production and cash budget. I believe that an accountant experienced in creating budgets is important especially because we want to grow into a larger operation. When first starting out we will have the accountant

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