EXECUTIVE SUMMARY Business Description Cushy Accounting Services is a new business specialized in consulting services for small and

medium sized businesses. Primary services includes market feasibility studies, business plans, periodic stock taking for small and medium scale business, accounts preparation for Churches, NGO s!, "rading and #anufacturing businesses , $nternal controls for small and #edium scale businesses , seminars and workshops such as training in %inancial #anagement, financial modeling&business spreadsheet application and 'ccounting for 'ccountants and Non 'ccountants . Our mission is to provide our clients with business services that help them become more successful and to become a leader in consulting to small and medium sized businesses. "o keep our overhead costs low, Cushy 'ccounting (ervices will be located in the small office of )eslie*s sister +ivian*s house and after (i, months of operation the management will relocate the business to well business area. "he small office is e-uipped with a computer, printer and working e-uipments. Ownership n! M n ge"ent Cushy 'ccounting (ervices is a partnership firm, owned by four partners. Namely #r. .mmanuel )eslie 'ddae a /sc. 'ccounting holder with 0 years e,perience in 'ccounts preparations and consultancy services for small and medium sized businesses in Ghana, #r. 1ennis Obosu 2alker. 3e holds 'ccountancy 3N1!, /.Commerce and currently offering his #asters in %inance and )aw and has five years e,perience in tutoring at the 4niversity and 0 years e,perience as 5isk #anagement and Credit Consultant, #iss Nora 'd6etey a (enior Customer
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'dvisor for #"N Ghana and currently writing Part 0 papers in $C' Ghana and #r. %eli, a partner of 'ction for 1evelopment an NGO for 3uman 5ights in Ghana and currently offering his masters in 3uman 5ights and )aw. Cushy 'ccounting (ervices will have two employees for the start. 'dditional staff support will be obtained on a subcontract basis such as students on internships. (ecretarial service will be given to a friend of the partners. Key Initiatives and Objectives Cushy Accounting Services is currently in the process of obtaining a loan form the partners of G37 8999.99 to finance the start up of the business. Our key ob6ective during the first 8: months of operation is to develop a profitable consulting business. "o do this, a strong client base will be developed through networking with local business leaders and business associations, affiliating with small business loan divisions of the local banks, and holding seminars and workshops. 1uring the first four months of operations eight small business seminars and four small business workshops will be developed. 'lso during the si, months of operation, no partner will be paid but 8;< of any amount paid to the business as a result of their own efforts will be given to them as 'llowance in other to secure permanent office for the business.

M r#eting Opportunities 1ue to high overhead costs most Consultants recently restructured to focus more on large corporate and government clients. "his meant the elimination of their small business division. )arge consulting firms such as 3# 'ccounting (ervices typically target larger businesses and government contracts= thus creating an opportunity for smaller consulting firms such as Cushy 'ccounting (ervices to
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provide small and medium sized businesses with affordable consulting services. "here are currently no other firms that specialize in this type of consulting located within the region. Co"petitive A!v nt ges "he key competitive advantages of Cushy 'ccounting (ervices are the small business e,perience and e,pertise of the partners. 's well as the business>s relatively low overhead costs compared to competitive consulting firms. "he (enior #anaging Partner is a 5isk #anagement consultant with e,tensive consulting e,perience for small and medium sized businesses and 0 years e,perience in "utoring at the 4niversity. Overhead costs are comparatively low because Cushy 'ccounting (ervices will be based at the home of )eslie 'ddae, 'ssistant managing Partner and labour costs will be low as there are no other full time employees. Marketing Strategy Our target markets will be small and medium sized new and e,isting businesses in the surrounding region. Cushy 'ccounting (ervices will market its services by placing an advert in the 1onkomi Newspaper, listing with all local business and industry associations, developing a brochure to be distributed to lending institutions and clients, becoming an active member of a number of business and consulting associations, networking with the local business community, and developing workshops and seminars for small businesses, Non 'ccountants, 'ccountants, (tudents, graduates and entrepreneurs. Our seminars and workshops will be used to promote our other consulting services. 'ttendees will be able to pick up our corporate brochure and ask any -uestions regarding the services we provide. "he corporate brochure will outline Cushy 'ccounting (ervices*s and fee
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structure. "he brochure will also highlight the past e,perience and level of e,pertise of the partners. "he brochures will be distributed at our workshops and seminars to lending institutions, associations, key business leaders, and to potential clients. Cushy 'ccounting (ervices will not do much advertising e,cept for placing an ad in the 1onkomi newspaper. 2ithin the ne,t three years, Cushy 'ccounting (ervices may develop an $nternet site highlighting key services, level of e,pertise and fee structure. (ome of the partners will also be on some of the local radio stations to broadcast most of the seminars messages on air to local listeners. Summary of Financial Projections "he revenue of Cushy 'ccounting (ervices is pro6ected to increase from G37:999 by 1ecember :989 to G37;999 by 'pril :988. 5evenues will see strong growth of ?9< annually as the business grows and e,pands. "he Cost of (ales is ;;< including total wages including subcontractors! at ?;< and goods and materials at 89<. "he Net $ncome is pro6ected to increase from G378,;99 by 1ecember :989 to G37?999 by #arch :988.

Con$i!enti %ity n! Recognition o$ Ris#s

Con$i!enti %ity C% use "he information included in this business plan is strictly confidential and is supplied on the understanding that it will not be disclosed to third parties without the written consent of the partners. Recognition o$ Ris#

"he business plan represents our best estimate of the future of Cushy 'ccounting (ervices. $t should be recognized that not all of ma6or risks can be predicted or avoided and few business plans are free of errors of omission or commission. "herefore, investors should be aware that this business has inherent risks that should be evaluated prior to any investment.

Business Overview
Business &istory Cushy 'ccounting (ervices is a management consulting business that is scheduled to begin operations on 'pril 8, :989. Cushy 'ccounting (ervices will be a partnership firm, owned and manage by #r. 1ennis .bow 2alker, #r. .mmanuel )eslie 'ddae, #iss. Nora 'd6etey and #r. %eli,. 'll the partners have several e,perts that have made Cushy 'ccounting (ervices most fascinating in consulting to small and medium sized businesses. )arge consulting firms such as 3# 'ccounting (ervices typically target larger businesses and government contracts creating an opportunity for Cushy 'ccounting (ervices to provide small and medium sized businesses with affordable consulting services. Vision n! Mission St te"ent Our mission is to become a leader in small business consulting by providing our clients with business services that help them become more successful.

O'(ectives
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Our primary ob6ectives over the ne,t year are to@ 8. Generate one new client contract a month by networking with key industry leaders and local lending institutions, conducting seminars and workshops for small and medium sized businesses, and 6oining key business and industry associations. :. Generate a net profit of G37 ?;99 in the first year by developing a strong client base and keeping overhead costs to a minimum. 0. 1evelop and conduct eight business seminars and four business workshops that meet the needs of the local business community. Ownership Cushy 'ccounting (ervices is a partnership firm, owned by four young partners. 's the business e,pands, strategic alliances may be formed with other companies. )oc tion n! * ci%ities "o keep our overhead costs low in the beginning stage, Cushy 'ccounting (ervices will be located in the small office of )eslie*s sister house. "he house, located at #allamABasoa road opposite Galilea #arket on Cehovah 2itness Bingdom 3all 5oad at Basoa, is e-uipped with a computer, printer and working e-uipments. (ecretarial service will be done by a sister of the partners. 2here possible, all meetings and presentations will be held at the client>s location. $f this is not feasible, the company has arranged to rent the boardroom of Pentecost Guest 3ouse. Presentation e-uipment such as overhead pro6ectors and li-uid crystal display )C1! units will be rented from +iva 've rentals. 'ny subAcontractors
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hired for specific pro6ects will not work in our office but will work from their own offices. "his will greatly reduce our overhead costs allowing us to price our services competitively. 's Cushy 'ccounting (ervices grows, consideration will be given to ac-uiring office space.

Products and Services

Description of Products and Services "he primary types of services we will provide includes market feasibility studies, business plans, periodic stock taking for small and medium scale business , accounts preparation for Churches, NGO s!, "rading and #anufacturing businesses, $nternal controls for small and #edium scale businesses, seminars and workshops such as training in %inancial #anagement, financial modeling&business spreadsheet application and 'ccounting for 'ccountants and Non 'ccountants. Our mission is to provide our clients with business services that help them become more successful and to become a leader in consulting to small and medium sized businesses. Our services include the development of@ 8. #arket %easibility (tudies 2e develop market feasibility studies for businesses that want to market new products or technologies. (ome of these companies are looking for government funding to commercialize the technology or product. Our market feasibility studies include a full assessment of potential markets, competitive analysis, and the financial viability of commercializing the product.
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:. /usiness Plans 2e will develop full business plans for start up and e,isting businesses re-uiring financing, introducing new products, entering new markets, and restructuring. 0. Other (ervices Our other services includes periodic stock taking for small and medium scale business, accounts preparation for Churches, NGO s!, "rading and manufacturing businesses, $nternal controls for small and medium scale businesses ?. (eminars and 2orkshops 2e will offer seminars to small and medium sized businesses. "he seminars will focus on key management issues for small and medium sized operators such as market analysis, product commercialization, how to write a business plan, marketing strategies, customer service, risk management, financial modeling, spreadsheet application etc. 'ttendance will vary but should average D9 to 899 people each. "he workshops will be developed to help small and medium sized businesses, accountants, non accountants, church leaders, managers write business plans, risk management, use of spreadsheet application etc. "his service is currently unavailable in the area. 2orkshops will be held in the on weekends making it easier for busy operators to attend. +ey *e tures o$ the ,ro!ucts n! Services Cushy 'ccounting (ervices will specialize in small and medium sized firms. 2hile other consulting firms in the region offer small and medium sized businesses
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consulting services, none specialize in this area. 2ith today>s unpredictable political and economic environments, it is increasingly difficult for entrepreneurs to successfully start new businesses and for e,isting small and medium sized businesses to remain profitable. Our services will differ from our competitors in that Cushy 'ccounting (ervices will offer creative, innovative, and effective solutions to business problems such as internal controls and financial management. "oo many consulting firms try to develop standard models to solve key business problems. Cushy 'ccounting (ervices realizes that business problems have a variety of solutions= what may be right for one business would not necessarily meet the needs of another business. ,ro!uction o$ ,ro!ucts n! Services $nitially pro6ects will be handed by the partners based on their e,pertise. (tudents on internship will be hired based on their area of e,pertise and e,perience. 1ue to office space limitation, most work will be done on the client own offices and will be linked directly to our office via eAmail and the $nternet. 2ithin the ne,t three years, no full time employment workers will be hired only the partners will do the 6ob. 2hile all reports will be produced and edited by the partners, the firm will seek the knowledge of some e,pertise on the field such as #r. 'sare and .ric. (hould the company take on any other full time employees, consideration will be given to leasing office space in the 'ccra Central area. *uture ,ro!ucts n! Services 2e will continually e,pand our services based on industry trends and changing client needs. 2e will also get feedback from clients and seminar attendees on what is needed for future seminars and workshops.
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Co"p r tive A!v nt ges in ,ro!uction Our comparative advantages in production are our low overhead and labour costs. Cushy 'ccounting (ervices does not have to pay for under utilized staff or facilities. 2e also have an advantage in that we can pick the most -ualified partner for each pro6ect. "he students on internships will be picked based on their e,pertise. "his allows us to draw from a larger labour pool and skill set. (tudents on internships will be hired as needed which means that during down times our firm is not over staffed.

In!ustry Overview M r#et Rese rch "o fully understand the market we are targeting we talked to local business leaders, the (mall /usiness 'ssociation, the NGO s!, the local economic development office, and all small business lending departments at the local banks. $n addition, we read local newspaper and 6ournal articles, and collected industry statistics from (tatistics Ghana. Si-e o$ the In!ustry "here are ;99 consulting businesses in Ghana= there are 0? consulting firms in the Greater 'ccra 5egion. 2hile there is some overlap in the types of services provided, most firms have developed their own market niches. %irms tend to become well known and recognized for their skills in a specific area such as organizational reAengineering, marketing, training, employee benefits, government program evaluation, or in a specific industry such as forestry, hospitality, health care, information technology, or communications. +ey ,ro!uct Seg"ents
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Consulting is a very diverse industry. "here are hundreds of different services that consultants provide to all industries and industry sectors.

+ey M r#et Seg"ents Bey market segments vary by consulting specialty. "he key markets for consulting services are Chartered 'ccountants, #anagement 'ccountants, regional, provincial and federal governments, crown corporations, and institutions such as hospitals and educational facilities. "he total size of these markets is unknown because they are continually changing and there are no provincial or federal tracking mechanisms in place to accurately determine how much these market segments spend on consulting services annually. ,urch se ,rocess n! Buying Criteri "he buying process for consulting services varies by type of client and by type of service. /usinesses find and chose consulting firms using several methods. 8. 5eferral /usinesses find consultants through their lending institutions, business or industry associations, friends or colleagues, and the Newspapers. /usinesses contact these consulting firms to obtain proposals and price -uotes for the re-uired services. ' consulting firm is chosen based on the needs of the client such as price, -uality of proposal, as well as the reputation, past e,perience and level of e,pertise of the consulting firm. :. 5e-uest for Proposal Government and other businesses re-uiring consulting services sometimes distribute a E5e-uest for ProposalsE to a number of consulting firms that they
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would like to bid on a specific pro6ect. "hese consulting firms submit proposals for the pro6ects they wish to bid on outlining the scope of the work, the methodology, a work plan and price -uote. "hese proposals are evaluated based on a predetermined set of criteria developed by the client. "he proposal evaluation criteria varies by pro6ect and client but usually includes price, -uality of proposal, and the reputation, past e,perience and level of e,pertise of the consulting firm. 0. Open /idding (ystem O/(! "he O/( is an opening bidding system for government contracts. 'nyone can access this service and submit a proposal for any contract they feel -ualified to bid on. /usiness plan services are usually purchased by start up businesses or by small and medium sized businesses re-uiring financing, commercializing a new product, or entering new markets. "hese businesses seek business planning assistance from their lending institutions, industry and business associations, or directly from consulting firms. Description o$ In!ustry , rticip nts Consulting firms are divided into large firms with more than 899 employees, medium sized firms with :9 to 899 employees and small firms with less than :9 employees. "he ma6ority FF<! of consultants in Ghana are employed at large firms, F< and medium sized firms and :D< at small firms according to a recent $ndustry Ghana report. "he large consulting firms are usually foreign based firms and include 'ndersen Consulting, Coopers G )ybrand, 1eloitte G "ouchH, .rnst G Ioung, BP#G, and Price 2aterhouse. (mall firms typically have less than 89 employees. +ey In!ustry Tren!s
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"he consulting industry is growing for two key reasons. One is that demand for consulting services is increasing as companies downsize and contract out work that was historically done inAhouse. Corporate downsizing has also resulted in many managers being laid off. $t is difficult for many of these people to find similar employment and as a result, many of these managers start their own businesses. 'ppro,imately 89< become consultants, many providing consulting services to the firms they 6ust left. "hose who start other types of businesses may re-uire specialized consulting services to improve their chances of success. "herefore corporate downsizing has resulted in an increase both in the supply of, and demand for, consulting services. "he number of business starts in 'ccra has risen 89< annually over the last several years. 'ppro,imately 899 new businesses were started in the area in :99J. "his trend is pro6ected to continue for at least another ; years. In!ustry Out%oo# 2ith the continued economic and political changes in this country, the demand for consulting services will grow as many companies are reluctant to hire additional employees. #ore and more work will be contracted out to outside consultants as companies maintain tight control over labour costs. "his trend is also true in the government sector which is under increasing pressure to reduce costs by reducing their employment levels. 2hile the number of business starts has increased so have the number of bankruptcies. 'ppro,imately seven out of 89 new businesses will fail within the first two years of operation, primarily due to poor management. (ome people who start new businesses lack basic business skills. "he demand for small business training and assistance will grow as these entrepreneurs seek the assistance they re-uire in order to reduce their risk of business failure.
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M r#eting Str tegy T rget M r#ets Our target markets will be small and medium sized new and e,isting businesses in the surrounding region and beyond. 2e will also submit proposals in response to any 5e-uest for Proposals we receive as well as for any relevant 5egion and government contracts. Description o$ +ey Co"petitors "here are a total of 8;9 consulting firms in Greater 'ccra 5egion, Ghana. Only 8? of these consulting firms offer services similar to Cushy 'ccounting (ervices. "he other 80: consulting firms in the region specialize in other areas of consulting such as employee benefits, training, marketing, information technology, auditing and $nvestigations. "here are four large consulting firms more than 09 employees! that offer consulting services to small and medium sized businesses. 3owever, these large firms cannot cost effectively service this market due to high overhead and labour costs. (mall and medium sized businesses usually cannot afford the high hourly fees charged by these firms. /usiness from this target market does not represent a significant portion of the revenues generated by these four large firms which all specialize in other areas of consulting. "here are 89 smaller consulting firms less than five employees! that offer consulting services similar to Cushy 'ccounting (ervices. 3owever, none of these firms specializes in consulting to small and medium sized businesses. 'll 89 firms offer a wide range of consulting services. "he ma6ority K9<! of these firms are operated by people who have been laid off from large firms and who have limited consulting e,perience and -ualifications. An %ysis o$ Co"petitive ,osition
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Cushy 'ccounting (ervices will be the only consulting firm in the G' (outh specializing in providing consulting services to small and medium sized businesses. Cushy 'ccounting has a competitive advantage in this area due to the e,cellent consulting e,perience of the partners. #r. .mmanuel )eslie 'ddae a /sc. 'ccounting holder with 0 years e,perience in 'ccounts preparations and consultancy services for small and medium sized businesses in Ghana, #r. 1ennis Obosu 2alker. 3e holds 'ccountancy 3N1!, /.Commerce and currently offering his #asters in %inance and )aw and has five years e,perience in tutoring at the 4niversity and 0 years e,perience as 5isk #anagement and Credit Consultant, #iss Nora 'd6etey a (enior Customer 'dvisor for #"N Ghana and currently writing Part 0 papers in $C' Ghana and #r. %eli, a partner of 'ction for 1evelopment an NGO for 3uman 5ights in Ghana and currently offering his masters in 3uman 5ights and )aw, including 89 years focusing on small business consulting. 3owever, as a new business, it may take time to establish a strong client base and develop a reputation as a small business specialist. #ost of the partners have already developed an e,cellent reputation in this area.

,ricing Str tegy Cushy 'ccounting (ervices* services will be priced competitively with other small consulting firms. "ypically the fees charged by small firms are much lower than those charged by the large firms due to lower overhead costs. Our fees will be based on several factors including the time and resources needed to complete a pro6ect, overhead costs, and the fees charged by other competitive consulting firms. Our hourly rates average G37;.99 per hour compared to G37:9.99 per hour for the large consulting firms. Our hourly fees will remain the same for all pro6ects.
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3owever, total pro6ect costs will vary depending on the time needed to complete the pro6ect as well as the direct e,penses incurred as part of the pro6ect.

,ro"otion Str tegy Cushy 'ccounting (ervices will market its services by placing an ad in the 1onkomi newspaper, listing with all local business and industry associations, developing a brochure to be distributed to lending institutions and clients, becoming an active member of a number of business and consulting associations, networking with the local business community, and developing small business workshops and seminars. 8. 2orkshops&(eminars Our seminars and workshops will be used to promote our other consulting services. 'ttendees with be able to pick up our corporate brochure and ask any -uestions regarding the services we provide. :. Corporate brochure&fliers 2e will develop a corporate brochure outlining our services and fee structure. "he brochure will also highlight our past e,perience and level of e,pertise. "he brochures will be distributed at our workshops and seminars, distributed to lending institutions, associations, key business leaders, and to potential clients. 0. 'dvertising Cushy 'ccounting (ervices will not do much advertising e,cept for placing an ad in the local newspapers. 2ithin the ne,t three years, we may develop our own $nternet site highlighting our e,pertise and services. ?. Networking

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Cushy 'ccounting (ervices will 6oin local business associations in order to maintain contacts in the business community as well as to stay well informed about the issues that are important to local businesses. Distri'ution Str tegy 1istribution is not an issue for consulting firms. 5eports will be couriered, eA mailed, fa,ed or mailed directly to customer depending on the terms set out in the contract.

M n ge"ent n! St $$ing Org ni- tion % Structure

Cushy 'ccounting (ervices is a partnership firm and will be run and managed by the partners. 'll administrative and accounting duties will be done by the partners. 'ny additional staff re-uired will be obtained on a subcontract basis such as students on internships. M n ge"ent Te " #r. 1ennis Obosu 2alker will be the Chief .,ecutive 1irector of the firm, #r. %eli, Opoku 'sare will the #anaging 1irector of the firm, #iss. Nora 'd6etey as the 3ead of 3uman 5esources&client 5elations, #r. %eli, as the Public 5elation Officer&'dvisor, #r. .mmanuel )eslie 'ddae as the 3ead of 'ccounts&5ecords and #r. .ric OseiA 'bankwah as the 3ead of $nternal Control&'udit and #rs. +ivian 'idoo as the company*s (ecretary. 'll the partners have e,perience in consulting in small and medium sized businesses. "herefore, Cushy 'ccounting (ervices decided to continue to provide specialized consulting services to small and medium. "he partners resume is attached at the end of this business plan.
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St $$ing No full time staff will be hired at Cushy 'ccounting (ervices for at least three years. /ut dues to the contents of the firm, two friends of the partners will be invited to head some positions in the firm which will be the #anaging 1irector and "he head of $nternal Control&'udit. 'ny additional staff re-uired to complete client contracts will be hired on a subcontract basis such as students on internships in order to keep labour costs low. ) 'our M r#et Issues "here is no shortage of -ualified students in the area who work on a subcontract basis for a number of consulting firms. 3owever, timing can be a problem in that it may be difficult to find students with a specific type of e,pertise who have time available when needed.

Regu% tory Issues Inte%%ectu % ,roperty ,rotection Cushy 'ccounting (ervices will have their seminar and workshop materials protected by copyrights. Regu% tory Issues "he only licenses re-uired to operate as a consulting firm is a business Name license. "he consulting industry is not regulated= however the $nstitute of Chartered 'ccountants regulates the 'uditors and #anagement 'ccountants for large businesses.
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Ris#s M r#et Ris#s 1ue to the limited barriers to entry and the downsizing of many large corporations there are an increasing number of people offering consulting services. $ncreased competition for small business clients and the potential entry of large firms into small business consulting in 'ccra poses some degree of market risk. "o develop and maintain a reasonable market share we will give our clients e,pert and timely consulting services at competitive prices. Our long term goal is to e,pand our operations so that we become the leading small business consulting firm in the region.

Other Ris#s "here are several other risks that could affect our operations including cyclical cash flow problems and liability issues. Consulting firms can e,perience cash flow problems because the industry is pro6ect driven. Pro6ects can last for several months and clients can take 09 to F9 days after completion of their pro6ects to pay the consulting invoice. "o avoid this situation, our firm will ask for ?9< of the pro6ect price at the beginning of a pro6ect, an additional ;9< half way through the pro6ect and the remainder upon completion of the pro6ect. "he ma6ority of Cushy 'ccounting (ervices contracts will average four weeks or less, reducing the risk of cyclical cash flow problems. "he other ma6or risk facing consulting firms is professional liability or the risk of being sued by a client. Consultants can be sued both for breach of contract and tort liability. /reach of contract means that a client sues a consultant because they feel that the consultant has failed to perform services described in their contract in a
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reasonable manner. Consultants can also be sued for negligence. Cushy 'ccounting (ervices has determined to sign for Professional )iability $nsurance as protection in the event of a lawsuit. Cushy 'ccounting (ervices will also operate in a professional manner, minimizing the risk of a lawsuit. I"p%e"ent tion ,% n I"p%e"ent tion Activities n! D tes 2ithin the ne,t several months Cushy 'ccounting (ervices will undertake the following activities@ 8. $t is in the process of obtaining a loan for G378999 from the partners to start up Cushy 'ccounting (ervices. :. 1uring the first two months of operations, the ma6ority of the seminar and workshop materials will be developed. 0. ' corporate brochure will be developed within the first two weeks to be distributed to potential clients and local business leaders and resources. *in nci % ,% n Discussion o$ ,ro(ecte! .et Inco"e 5evenue is pro6ected to increase from G37:999 in :989 to G37?999 by 'pril :988. 5evenues will see strong growth of ?9< annually as the business grows and e,pands. $n Iear 8, it is pro6ected to a total of ;;< of revenues, including wages at ?;< and goods and materials at 89<. (ales and #arketing e,penses average 89< of Net (ales. (ales and #arketing e,penses include advertising, a corporate brochure, seminar and workshop materials, other e,penses such as networking and client lunches. Property and 4tilities e,penses average 8?< of Net (ales including telephone and utilities, and
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other e,penses such as the office furniture and computer lease e,penses. Operations, and /anking and other e,penses average 0< to ?< of Net (ales. Operations e,penses include supplies and travel e,penses, and licenses and permits. Discussion o$ Month%y C sh *%ow St te"ent 2ithout a bank loan, it will take Cushy 'ccounting (ervices si, months to generate a positive cash flow. "he operating loan of G378999 ensures that Cushy 'ccounting (ervices will not need any additional operating loans during the first twelve months to maintain a positive monthly cash balance.

Discussion o$ ,ro(ecte! Annu % C sh *%ow Providing Cushy 'ccounting (ervices achieves their revenue pro6ections no additional operating loans will be need in years two and three. "his will lead to increases in ending cash balances in both Iear : and 0. Discussion o$ ,ro/*or" B % nce Sheet 2ith no loans payable in Iears : and 0 of operations, the cash position and the amount of retained earnings will increase each year. 'll liabilities will be paid as they are due. Discussion o$ Business R tios 1ue to Cushy 'ccounting (ervices> billing structure, the average collection period for accounts receivable will be low compared to other consulting firms. Profit margins are consistent from year to year and are comparable to other consulting firms with less than G37;999 in annual revenue. 1ebt to net worth is inconse-uential as the company will be debt free after #onth D of operations.
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4sing 3# 'ccounting (ervices 'nnual (tatement (tudies as a guide, all other ratios are at or near industry standards for small consulting firms in Ghana. .L$" ("5'".GI "he e,it strategy for Cushy 'ccounting (ervices will be a simple one. 's the firm reaches it crucial stage where all the partners decided to leave or dissolved the firm, the best is to sell it shares to outside and dissolved the partnership.

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