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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 child care we provide for their children, ages 3 months to 12 years.

COMPANY SUMMARY
ABC Learning Academy will be located in Roxborough County, PA. The academy will employ 5 fundamentals that will serve as the driving force for the services offered: Premier Care Giving Services, Activity Based Children Structured Curriculum, Trademarked General and Continuing Education Mentoring and Tutoring and Learning Services. ABC Learning Academy campus is a newly constructed 4200 square foot facility in the Roxborough Plaza and will be developed meeting strict City of Philadelphia design standards. The academy founder Mrs. Evelyn Santana will oversee all fiscal responsibility, employing an independent CPA for financial oversight. A School Director will be hired to handle the day to day operations of the facility and will work collaboratively with the silent partners and other school personnel to ensure a successful business venture. The estimated start up cost for ABC Learning Academy will be $39, 450. These costs will be financed solely by the owner’s personal cash funds and optional credit lines. An anticipated $60,000 SBA guaranteed 5 year loan will be used as working capital. Future expansion, growth and franchising strategy will be self financed.

ABC Learning Academy will be required to use the Generally Accepted Accounting Principles. GAAP is implemented through measurement principles and disclosure principles. Measurement principles recognize and determine the timing and basis of items that enter the accounting cycle and impact the financial statements, such as the period in which transactions will be recorded. Disclosure principles determine what specific numbers and other information are essential to be presented in financial statements. Basically, GAAP is concerned with: the measurement of economic activity;

the time when such measurements are to be made and recorded; the disclosures surrounding this activity; and the preparation and presentation of summarized economic information in financial statements. Although smaller companies are not required to use GAAP, there are certain situations, such as obtaining credit or seeking investors, which require, by contract, those companies to also follow GAAP when preparing their financial statements. Using GAAP helps the business and the investors to make accurate financial decisions by using comparisons in an accurate manner. Since consistency is a key factor in financial comparison, GAAP is the most suitable system in comparing how a business is doing compared to its competition.

Internal Controls
Internal controls are procedure and policies that are used to safeguard the assets and also ensure the integrity and financial information. Two specific internal control measures that ABC Learning Academy intends to implement would be the authorization and separation of specific duties among staff members within the school. This will ensure the compliance to all the procedural methods of conducting business and also ensure the protection of both the investor’s and the client’s interest. To ensure that internal controls are adhered to, ABC Learning Academy will implement periodic management review through regular assessment of the internal control system. This will ensure that employees are kept in check and they will remain efficient and effective at the job. Ensuring information availability and a clear plan for communication remain paramount for the functions of internal controls. Compliance to Regulatory Bodies

Most regulatory bodies like the Sarbanes-Oxley Act of 2002 (SOX), affect all aspect of the financial world. The laws states that financial records must be kept on file for no less than five years, ABC Learning Academy intends to ensure that we follow regulations and will keep our staff in compliance by providing proper training, while also granting them access to hotlines or websites where they can access and ask direct questions for clarification on the legislative requirements.

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.