Business Plan for Establishing an Accounting Services Company

Economic conditions in Slovenia are forcing individuals to find their own source of income. Therefore, they decide to establish their own company. The empirical part of the diploma thesis presents a business plan for establishing an accounting service over a period of four years. The results of the interviews helped the author in preparing the business plan; likewise, with the help of the interviews, she confirmed or refuted the stated hypotheses. The aim of the diploma thesis is to determine whether the business idea will be successful, that is, whether she will generate profit with the newly established accounting service.

Problem

Economic conditions in Slovenia are forcing individuals to find their own source of income. Therefore, they decide to establish their own company. Individuals who decide to establish an accounting service can register the company as a sole trader or as a limited liability company.

In the diploma thesis, I present the profession of accountant and the difficulties they face in their profession. Accountants must comply with numerous laws, rules of conduct and working methods, and accounting rules when performing their work. Although the profession of accountant is complex and very demanding, in Slovenia it can be performed by any individual without any education whatsoever.

Due to the unregulated situation, there is a complete degradation of the accounting profession, which is very important for the operation of companies, organisations, and also public administration. For the performance of the accounting profession, it is not clearly defined what knowledge an individual should have.

Solution and Method

The empirical part of the diploma thesis presents a business plan for establishing an accounting service over a period of four years. The accounting service will offer bookkeeping services and tax advice. The aim is to expand e-accounting, which would contribute to a larger volume of clients.

She researched the need for a new accounting service in the area of the Savinja and Drava regions. The business plan shows the mission and vision of the company, goals and strategy, and shows target customers, suppliers, and competitors. The marketing plan for accounting services, the organisational structure of the company, and the sales plan are also presented.

In the financial part, the company's balance sheet and income statement, as well as financial indicators, are presented. For the research part, she used interviews. Seven accounting services from the Savinja and Drava regions were interviewed.

Results

The results of the interviews helped the author in preparing the business plan; likewise, with the help of the interviews, she confirmed or refuted the stated hypotheses. The aim of the diploma thesis is to determine whether the business idea will be successful, that is, whether she will generate profit with the newly established accounting service.