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ACCT 230 - Introduction to Accounting

Accounting 230 - Introduction to Accounting
Business Plans Project

| Company, Strategy, Management, and Organization |
| Market and Competition | Projected Financial Data | Bryan/College Station | Article Databases |

Introduction

 

This guide has been prepared to assist students in locating library sources for projects dealing with the development of a startup business plan. Business plans describe the objectives and goals of the enterprise using both quantitative and qualitative information to convey plans as well as the strategy for achieving the goals.

 

The Barclay Center Reference Desk staff will be able to assist you with most of your research needs.

Note: Databases provided on this website are only available to Texas A&M University faculty, staff, and students due to licensing agreements.

These sources provide ideas for businesses start-ups as well as examples and information on how to create a business plan:

 

Internet Sites

 

  • Bplans.com
    http://bplans.com
    Mostly a commercial site selling business planning software and services. However, click on 'Sample Plans' for a variety of start up business plans.

     

  • Marketing:KnowThis
    http://www.knowthis.com/
    Excellent website with links to business plans, marketing plans, and starting a small business.

     

  • Small Business Association (SBA)
    http://www.sba.gov/

Print Resources (West Campus Library)

  • Business Plans Handbook: A Compilation of Actual Business Plans Developed by Small Businesses Throughout North America
    West Ref. HD 62.7 .B865 v. 1-11
    Excellent source of sample business plans for a number of businesses. A great source for examples of pro-forma financial statements.

     

  • Complete Small Business Guide
    West Ref. HD 62.7 B367 2002

     

  • CPA's Guide to Developing Effective Business Plans
    West Ref. HD 30.28 .B467 2001
    Excellent source of information for this project which is focused specifically on CPA's.

     

  • Encyclopedia of Small Business
    Electronic Book
    Excellent concise information on a number of small business topics. See information on pro-forma statements beginning on pg. 784.

     

  • Small Business Profiles
    West Ref. HD 62.7 .S62 v.1-2
    Presents detailed start-up instructions, including examples of cost and profit figures, for a wide assortment of business opportunities. Each entry includes costs and expected profits; financing; marketing and advertising; obtaining licenses; deciding on insurance needs, etc.

     

  • Small Business Sourcebook
    West Ref. HD 2346 .U5 S65 2008 2 Vol.
    Excellent source for information regarding small businesses. Volume 1 covers all types of businesses. Types of businesses you could start are arranged alphabetically. Volume 2 covers specific subjects that relate to all of small business including:
    • Business Plans
    • Financial Management
    • Loans
    • Marketing

     

  • The Small Business Bible
    West Ref. HD62.7 S875 2008

     

  • Ultimate Small Business Advisor
    HD62.7 E568 2003

     

Company, Strategy, Management, and Organization

 

A. Business Description

 

  • Find a similar company to the one you want to start-up and compare/contrast it with your own ideas. The "legal business description" of a company is included in its 10-K Report. You can find 10-K reports in the following database:
    • Mergent Online
        Mergent Online is an Internet-based suite of timely resources enabling in-depth business and financial research.

B. Location

  • At start-up, a business does not normally try to offer their products or services regionally, nationally, or internationally. Usually the target market(s) are chosen are major metropolitan areas. Determine where your product or service may be most successful.

C. Business Mission

  • Find an example of a mission statement from a company that is similar to the one you want to start-up. Examples of mission statements may be located on company websites. Most company websites follow this format: http://www.companyname.com/

     

  • Mission statements may also be found in a company's annual report.

     

  • Good print sources include:

     

    • Corporate Statements
      West Ref. HD 30.285 .H37 1998

       

    • Mission Statement Book
      West Ref. HD 30.285 .A27 1999
      West Ref. HD 30.285 .A27 1995

D. Product/Service Description

  • You develop this. Ideas can be found by looking at recent articles of companies that are similar to the one you are thinking of. 10-Ks and annual reports also list products and services offered by companies.

E. Management Team & Organizational Structure

  • Information about that firm's top management team and size may be obtained in the annual report, 10-K, and company website. Organizational structure, in the form of an organization chart, is usually very hard to find. Resources that may help include:

     

    • America's Corporate Families
      West Ref. HG4057 A164 2008 2 Vol.

       

    • Directory of Corporate Affiliations
      West Ref. HG 4057 .A219 2008
        Look for information on top-level management and subsidiaries.

       

    • Organization Charts
      West Ref. HD 38.O738 1992,1996,2000
        Structures of over 200 businesses. For example purposes only since you may not find the exact company you are modeling.

       

    • U.S. Corporations Organization Chart Service
      West Ref. HD 2785 .U16 1988-2006
        Provides numerous examples of real-life organizational charts.

       

    • Who Owns Whom
      West Ref. HG4057 A5 W5 2008/09

Market and Competition

 

A. Target Market (Customer Profile)

 

  • Who is your target market? Who do you want to serve? What geographic region? What age group(s)? What income levels?

     

  • The folowing sources will help you to identify customers who fit your firm's mission:

     

    • Print Resources

       

      • Best Customers: Demographics of Consumer Demand
        WCL Ref. HC 110 C6 B44 2006
          Excellent resource for determining the best target group for a product or service.

         

      • Demographics USA County Edition
        WCL Ref. HF 5437 .S32 2008
          Consists of demographics, economic and commercial estimates covering population, race/ethnicity, age/sex groups, household related data, EBI, retail data and more.

         

      • Demographics USA Zip Edition
        WCL Ref. HF5415.3 D463 2007

         

      • Lifestyle Market Analyst
        WCL Ref. HF 5415.33 .U6 L54 2008
          Provides demographic and geographic data for the American population as well as extensive lifestyle information on the interests, hobbies, and activities of each demographic/geographic market.

         

      • Community Sourcebook of Zip Code Demographics
        WCL Ref. HA 203 .S66 2005
          Provides statistics, for each zip code, on population change, population composition, income, and spending potential. Also provides (1) ACORN data (a classification of residential neighborhoods) indicating the top consumer type per zip code; and (2) Business data (#firms, #of employees, and top ranked industries) per zip code.

       

    • Database Resources:

       

      • TableBase
          Provides access to thousands of tables that provide statistical data on market share, company and brand rankings, industry and product forecasts, trends, demographics and more. Coverage of US and international statistics.
          • Enter a product name, company name, or industry name in the keyword dialog box. (Ex. volvo)
          • Enter a company name in the company dialog box if needed to narrow search.
          • Use the 'Concept Term' pull-down menu and select 'demographics'
          • Click on Help from the main search page to learn more about searching the website.

       

    • Internet Resources:

       

B. Industry Trends

  • Surveying the industry will help you understand the competition you will face. A good resource for this is:

     

    • NetAdvantage - Which contains Standard and Poor's Industry Surveys
        Excellent source which provides the following information for 50 industries: current environment, industry trends, how the industry operates, key industry ratios and statistics, and information on how to analyze a specific company within a particular industry. Industry references are included which provide a listing of industry periodicals and trade associations. Each volume provides an industry outlook and stock price analysis section in the front.

      •  

    • IBISWorld
        Provides industry material by SIC codes, so there are many more areas at a much-less aggregated level.

C. How will your product or service be positioned in the market?

  • How Much Will They Pay?
      Pricing is the result of supply and demand for products and services. It is also related to how you market your product or service. Prestige products, such as Volvo, can secure a higher price. You can also undercut your competition and charge a substantially lower price in the short term.

     

  • Compare your product or service to other companies in the same industry. How are they pricing? How much does it cost you to produce the product or service?

     

  • These print sources provide other information on how products are produced:

     

    • How Products Are Made
      West Ref. TS 146 .H67 v.1-7

       

    • Manufacturing & DistributionUSA
      West Ref. HD 9721 .M33495 2009 3 Vol.
        Information is arranged by SIC Code. Look up the SIC Code. Information on "materials consumed", "inputs and outputs" are given for the industry.

     

D. Competition

  • Ranking Information:

     

    • Print Resources:

       

      • Business Rankings Annual
        West Ref. HG 4050 B88 2004
          Refer to the topical index for industry headings.

         

      • Dun's Business Rankings
        West Ref. HF 5035 .D8 2008
          Look for the first two numbers of your SIC Code for a rankings list.

       

    • Database Resources:

       

      • Business & Company Resource Center
          Business and Company Resource Center is a fully integrated resource bringing together company profiles, brand information, rankings, investment reports, company histories, chronologies and periodicals. Search this database to find detailed company and industry news and information.

         

      • TableBase
          Provides access to thousands of tables that provide statistical data on market share, company and brand rankings, industry and product forecasts, trends, demographics and more. Enter an industry name, company in the keyword dialog box (Ex. automobiles). Next hit the search button. Click on Help from the main search page to learn more about searching the website.

     

  • Industry Overviews:

     

    • Database Resources:

       

       

    • Print Resources:

       

      • Industry Handbook (Dun and Bradstreet/Gale Group)
        WCL Ref. HG 4907 .D86 2000 v. 1-5
          For each industry, the Handbooks provide: industry overview, industry statistics & performance indicators, financial norms & ratios, company directory, rankings & comparisons, mergers & acquisitions, associations, consultants, trade information sources, and trade shows.
          • v. 1: Entertainment and Hospitality
          • v. 2: Insurance and Health & Medical Services
          • v. 3: Construction and Agriculture
          • v. 4: Chemicals and Pharmaceuticals
          • v. 5: Computers & Software and Broadcasting & Telecommunications

         

      • NetAdvantage - Which contains Standard and Poor's Industry Surveys
          Excellent source which provides the following information for 50 industries: current environment, industry trends, how the industry operates, key industry ratios and statistics, and information on how to analyze a specific company within a particular industry. Industry references are included which provide a listing of industry periodicals and trade associations. Each volume provides an industry outlook and stock price analysis section in the front.

        •  

      • Value Line Investment Survey
        WCL Ref. Index Tables HG4501 V26
          Refer to the topical index for industry headings. Provides an overview of the industry with forecasts. Also provides, industry composite statistics.

        •  

      • WEFA Industrial Monitor
        WCL Ref HC 101 .W434 2000/01
          Provides reviews and forecasts covering sales, output, imports, exports, and other key indicators for over 130 U.S. industries.

E. Marketing Plan

  • General sources which may be useful:

     

     

  • The following sources will assist you in determining advertising formats, costs, budgets, etc.:

     

    • AdSpender
        A database that contains media expenditures for companies and brands. This database is only available in the West Campus Library Barclay Reference Center.

       

    • Marketer's Guide to Media (ADWEEK)
      WCL Ref. HF 5826.5 .M45 2008
        An excellent source of advertising information. Provides demographics, costs, ranking lists, etc for: broadcast television, syndicated television, cable television, radio, out-of-home, teens, promotion media, custom publishing/marketing, magazines, newspapers, online services, and hispanic markets/media.

       

    • Standard Rate & Data Service (SRDS)
        This service offers separate directories giving advertising rates, specifications, and circulation for publications, broadcast stations, and a variety of other media:

         

        • Business Publication Advertising Source
          West Ref. HF 5905 .S723
        • Consumer Magazine Advertising Source
          West Ref. HF 5905 .S725
        • Direct Marketing List Source
          West Ref. HF 5905 .S7832
        • Interactive Advertising Source
          West Ref. HF 5415.1264 .S65
        • Newspaper Advertising Source
          West Ref. HF 5905 .S73
        • Print Media Production Data
          West Ref. HF 5905 .P7
        • Radio Advertising Source
          West Ref. HF 5905 .S74
        • TV & Cable Source
          West Ref. HF 5905 .S745

Projected Financial Data

 

In developing a financial plan for your start-up business, start by locating an annual report, or financial statements, for a company that is similar to the one you want to start-up. The accounts will be similar. These statements can be located on the company's website or from the following sources:

 

  • Mergent Online
      Mergent Online is an Internet-based suite of timely resources enabling in-depth business and financial research.

     

  • Sources for Ratio Analysis:

     

    • Industry Norms and Key Business Ratios
      WCL Ref. Index Tables
        Compare your company's data with the industry. Provides an industry average for financial statement accounts, common-size statements for the industry, and industry ratios.

       

    • Troy's Almanac of Business and Industrial Financial Ratios
      WCL Ref. Index Tables
        Look up the industry by SIC Code. Includes two tables of information. Refer to the bottom of the tables for "Trends in Selected Ratios and Factors" for 10 years of data. Ratios measure industry success and growth possibilities.

       

    • Value Line
      WCL Ref. Index Tables HG4501 V26
        Information is divided into editions which cover particular industries. In vol 1, pt. 1: summary and index, look for your industry name.

       

    • Financial Studies of the Small Business
      WCL Ref. Index Tables

     

  • Refer to the following sources for further information:

     

    • Business Plans Handbook: A Compilation of Actual Business Plans Developed by Small Businesses Throughout North America
      West Ref. HD 62.7 .B865 v. 1-11
        Excellent source of sample business plans for a number of businesses which includes a first year financial plan in most cases.

       

    • Small Business Sourcebook
      West Ref. HD 2346 .U5 S65 v. 1-2
        Volume 2 covers specific subjects that relate to all of small business including:
        • Business Plans
        • Financial Management
        • Loans

     

  • Look for links to financing information on the websites below:

     

     

  • Look for Capital Equipment information in:

     

Bryan/College Station

 

Demographic information is available from several different secondary sources. The West Campus Library also has obtained traffic reports for various intersections in Bryan/College Station from the Texas Transportation Institute. Although information on the number of businesses per category and the total amount of category sales are available, specific sales, number of products sold, etc. is not available per business in most cases.

Demographics:

  • Research Valley Partnership
    http://www.researchvalley.org/
      This site replaces the B/CS Economic Development Corporation site and is focused on the economic development of Brazos County. The Community Profile section has a wealth of data on demographics, cost of living, labor force statistics and other Brazos County industry data.

     

  • Demographics USA County Edition
    WCL Ref. HF 5437 .S32
      Consists of maps and demographics, economic and commercial estimates covering population, race/ethnicity, age/sex groups, household related data, EBI, retail data and more.

     

  • EASI Quick Reports and Analysis
    http://www.easidemographics.com
      Free demographic reports from the US Census Bureau. Special reports are available after a simple registration process. Lets you specify down to county, city, and zip code.

     

  • Market Profile Analysis: MPA. Bryan-College Station, TX
    WCL Ref. Ref. HC 108 .B6 M3 2008
      Provides population and business demographics for Bryan-College Station.

     

  • Sourcebook of Zip Code Demographics
    WCL Ref. HA 203 .S66 2005
      Provides statistics, for each zip code, on population change, population composition, income, and spending potential. Also provides (1) ACORN data (a classification of residential neighborhoods) indicating the top consumer type per zip code; and (2) Business data (#firms, #of employees, and top ranked industries) per zip code.

     

  • Texas A & M University Office of Institutional Studies & Planning
    http://www.tamu.edu/opir/reports/
      Links to student enrollment data and more.

     

  • Texas Almanac
    (Database Resource)
      The Texas Almanac on-line. Provides statistical data and information for a number of topical categories.

     

  • Texas Business Advisor
    http://www.window.state.tx.us/tba/
      Excellent site from the Texas Comptroller of Public Accounts. Provides a wealth of data (marketing & economic) to assist Texas entrepreneurs.

     

  • Texas State Data Center
    http://txsdc.utsa.edu/
      Population data links including MSA by County and State Level Data.

     

  • U.S. Census Bureau
    http://www.census.gov/
      One stop shopping for a wealth of government supplied census data.

     

  • Market Guide
    WCL Ref. HF 5905 .E38 2009
      Economic and demographic profiles of 14,639 U.S. Markets providing comprehensive data including:
      • Narratives and retail overviews
      • City, county, MSA Rankings
      • Population, ages, and ethnicity
      • Money, income, and employment
      • Education, housing and households
      • Retail sales

Tip to finding specific spending data per target market:

    Use Best Customers to find out the best target market for your product or service. Then use demographic sources for B/CS data. Multiply the specific B/CS population by the amount spent by customer mentioned in Best Customers to get the market value. For an average amount of expected income, divide the total spending amount by the number of businesses in the area that provide that product or service.

     

    • Best Customers: Demographics of Consumer Demand
      WCL Ref. HC 79 .C6 R87 1999
        Excellent resource for determining the best target group for a product or service.

    Traffic per Intersection in B/CS:

     

      Looking for the right business location in B/CS. Intersection maps are available in the West Campus Library in the drawers of the Atlas Stand which provide traffic counts.

     

    Property Values in B/CS:

     

    • Brazos County Appraisal District
      http://www.brazoscad.org/
        This site provides property assessment and tax information. For a quick way to get property value, enter the company name or click on address and put in the street address.

     

    City Ordinances:

     

    • Municode (TX)
      http://www.municode.com/resources/code_list.asp?stateID=43
        You may need to review city ordinances to determine if the type of business you want to open is allowed or what restrictions are imposed.

Article Databases

 

This page provides suggested index/abstract databases for small business research.

 

Note: Databases provided on this website are only available to Texas A&M University faculty, staff, and students due to licensing agreements.

 

  • Business & Company Resource Center (Company/Industry/News)
      Business and Company Resource Center is a fully integrated resource bringing together company profiles, brand information, rankings, investment reports, company histories, chronologies and periodicals. Search this database to find detailed company and industry news and information.

     

  • Business & Industry (Articles)
      Business and Industry on the Web provides access to articles appearing in the business and trade press from around the world with a strong focus on facts, figures, and key events dealing with the public and private companies, industries, markets, and products for all manufacturing and service industries. Excellent search tools for marketers and advertisers. Use the pull-down menu to select categories that are especially useful for locating specific types of advertising information.

     

  • Business Source Complete (Articles)
      This comprehensive database offers full text for 2,260 business news and scholarly journals. In addition, it provides information from an expansive company directory.

     

  • Marketresearch.com Academic (Market Research Reports)
      Provides Internet access to more than 500 full-text market research and demographic studies.

     

  • TableBase (Data & Statistics)
      Provides access to thousands of tables that provide statistical data on market share, company and brand rankings, industry and product forecasts, trends, demographics and more.
      • Enter a product name, company name, or industry name in the keyword dialog box menu (Ex. b2b)
      • Use the pull down menus to select concepts to further narrow your search.
      • Click on Help from the main search page to learn more about searching the website.

 

Date Last Updated: 2/6/2009

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