Buisness Plan

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Business Plan April 1, 2011 ACC/220 Survey of Accounting: The Maze of Numbers The name of the Company shall be Triumph Trading Company to be located at 360 Maryland Drive, Amherst, NY, 14222. Our mission is to be the best and leading company in the country, making our goods timely available for our consumers. The company’s activities shall include the distribution and sales of industrial and domestic cleaning materials. The business structure of Triumph shall be corporation set up. The decision to register the company as a corporation was because of the benefits such as separate legal entity, ease of transfer of ownership and capital generation, continuous existence, centralized authority and responsibility, government regulation,…show more content…
The marketing crew would research and analyze the business and the market, plan and write the plan, implement the plan, and evaluate the result. The purchasing or procurement department can be likened to a production department in a manufacturing set up. The purchasing would be responsible for acquisition of goods for the inventory to accomplish the goals of the Triumph Trading Company. Its roles include purchase planning, specification development, standards determination, inventory control and price negotiation, disposal and other related functions. Hence, the administrative department would perform management activities that would benefit the entire organization. Some of its subdivision would be human resources unit- to ensure that the company’s employees are competent and supervise their welfare. The accounting department is very crucial to the company. We understand that experienced and seasoned qualified accountant shall be employed for relating accounting duties, internal control, and cash management. This department is like a central unit that will work with other departments of the company. Accounting departments would consist of internal control unit, and financial control. The internal control unit would set policies on how the financial and operational activities of the company shall be carried out, and check at interval to ensure compliance. The financial control unit roles are to ensure the accuracy of reporting, eliminates fraud, protects
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