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| Additional information |
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| Angkor Certified Accountant (ACA) |
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Mission statement:
ACA has been filling the consumers’ need for accounting and auditing services since1998. ACA’s mission is to be leading national firms on accounting and auditing in the whole country of Cambodia. This continues to be its mission. Recognizing the need for international standard accounting services with an in-depth understanding of the unique local business regulations and procedures that occur in Cambodia, ACA have finish to implement a new branch in Sihanoukville on January 2002 offering the accounting and auditing services in order to fully enable it to execute its mission. |
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Profile:
The company began leading national firms on accounting and auditing services since 2004 in the whole country of Cambodia and starting from the beginning of year 1998 up to now, the company has decided to operate as the independent firm with most of its staff is Khmer nationals in Phnom Penh Cambodia. Since then, ACA has met the needs of the International Organization (IOs), the Non Government Organizations (NGOs), the national and international firms by continuing to provide international standard accounting and auditing services with an in-depth understanding of the unique local business regulations and procedures that occur in Cambodia, which have developed a reputation for quality, services and cheap price throughout the whole country.
The business started by You Kheang Thavorin alone at the beginning. You Kheang Thavorin, a Canadian-Cambodian Certified Public Accountant (CPA) gained his BBA and MBA at the University of Montreal, Quebec, Canada.
After many years gaining experience in Canadian auditing companies, You Kheang Thavorin went on to establish his own practice, winning many clients including the largest supermarket operator in Montreal, the Steinberz franchise. In early 1998, Mr. You Kheang returned to Cambodia to set up ACA and has been developing this new business in conjunction with a number of trained and qualified staff; even with many connections in the Cambodia area, the business took a little time to become established.
For the first two years, You Kheang Thavorin operated the company very conservative. The business operated at a profit from the beginning, making You Kheang Thavorin enough money to live and to reinvest some profits in advertising; but the growth is slow. In the fourth year of operation, You Kheang Thavorin borrowed money, hired workmen, and began offering the financial services and consulting services. At this point the business began to rapidly expand.
The company quickly attracted attention as a reputable service and available professional staff in the area and in the fifth year began to establish the branch in the Sihanoukville. In the sixth year You Kheang Thavorin hired administrative support personnel, more workmen, and moved to new office just acquire the same year. The company continued to grow and exactly seven years after forming, the business reached more than $100,000 in yearly total income revenues.
For the next ten years, ACA weathered economic prosper in the Cambodia area. While the accounting and auditing services use to be a leading product, the reputation of ACA sustained company income revenues over $100,000 each year and can reach the $500,000 in year 2015. However, the company was not well prepared for this unprecedented period of good income revenues, and rising costs began to eat into profit margins. Two years ago, the area's economic situation began to improve, and income revenues began to climb again. Unfortunately, accelerating costs continued to erode the company's profitability. Because of lack of working capital for running business successfully, ACA expect to look for a potential buyer to enter into joint venture or to take over the JV Company.
Many companies do not recover from tragic events such as the lack of capital or dispute with the partner. This event, coupled with the spiraling costs that ACA was incurring almost put the company under.
However, the combination of cost cutting measures and increased income revenues has put the company on the road to profitability once again. |
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Overview:
ACA SERVICES
Accounting Services...
Auditing Services...
Business Advisory Services...
Financial and Management Services...
Isurance and Invesment...
Tax Services |
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Vision:
The purpose of this plan is to acquire financing for ACA, which will be used for modernization and growth. ACA develop many new branches and offices, and has recently added a new branch in Sihanoukville. ACA requires financing for new furniture’s, additional advertising, and specifically for an expansion of 10 new branches outside of Phnom Penh in different main provinces in Cambodia.
ACA aims to propose this marketing plan to a foreign Company who is interesting to enter into joint venture with major stake 80% or to outright purchase the 100% Share equity of ACA. Attached are the 10 years forecasted business operations from 2002 to 2012. |
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