SAMPLE BUSINESS PLAN

I. EXECUTIVE SUMMARY

YSL Consulting is consulting firm offering different kinds of services such as Information System Consulting, Business Process Reengineering, Project Management, New Product Development and other consultancy works. It specializes in, and has extensive consulting experience for, medium-sized and large-scale firms here in the Philippines. Its founders are former marketers of consulting services. They formed YSL Consulting to formalize the services they offer and to widen the scope of their work.
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By focusing on our strengths, our key customers, and the underlying values we need, YSL Consulting will increase its profit to more than 10 million in three years, while improving the gross margin on sales and cash management and working capital. This business plan leads the way. It renews our vision and strategic focus: adding value to our target market segments. It also provides the plan for improving our sales, gross margin, and profitability. BUSINESS PLAN HIGHLIGHTS

60000000 50000000 40000000 Sales 30000000 20000000 10000000 0 2009 2010 2011 Gross Margin Net Profit

MISSION Our mission is to provide our clients with high-quality and very competent consulting services that will help them in achieving their own goals and objectives.

VISION

To become a leader in Consulting Industry in Philippines

the the

OBJECTIVES: 1. Increase our gross sales by 20% every year 2. Increase our net profit by more than 10 million in 3 years 3. Increase the number of our customers by 10% every year

KEYS TO SUCCESS 1. Excellence in providing clients with competent and high quality services
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2. A high level of experience in specialty areas of our consultants 3. A team approach on mYSL consulting projects. 4. A value proposition of timely and practical solutions, at a reasonable rate, coupled with a 100% guarantee.

II. COMPANY DESCRIPTION

YSL Consulting is a duly registered partnership entity undertaking consulting projects since its conception on January 7, 2000. It is managed and owned by its partners: Atty. Charissa L. Lee,
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CPA, MBA, MBM; Engr. Justin Yap, CMA and Mr. Jessa Sue, CISA. YSL Consulting is one of the leading consulting firms in the Philippines. Our previous clients include 'COLON HERITAGE CORPORATION, CEBU FILE SYSTEMS MANUFACTURING CORPORATION, PENTAX CORPORATION, E. C. CALDERON CONSTRUCTION CORPORATION, EASTERN SHIPPING LINES, INC. 'HIJOS DE F. ESCAO INC., and many others. Our reputation for providing high quality services with integrity has earned us the trust of our clients, and our people.

Our philosophy is to deliver high quality consultancy services to clients through a dedicated team of motivated and experienced professionals. The focus of our work is always on how to achieve measurable business benefits. We approach every assignment from a fresh perspective using our knowledge, experience and business sector expertise. We believe in building long-term client relationships which leads to a better understanding of our clients business needs. All of our consultants have specific industry experience gained on the ground with many also having a background from the consultancy practices of prestigious
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accountancy firms. Thus, we have the right levels of experience and right kinds of expertise to suit clients' needs.

LOCATION AND FACILITIES YSL Consulting is located at 13th Avenues, North Reclamation Area, Cebu City. This location is ideal, since it is accessible to our prospective clients and is close to our clients home offices. It is equipped with computers, telephones, fax machines, photocopiers and presentation equipments such as projectors and liquid crystal display (LCD) units.
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We also have a reception area, and a conference room for meetings and presentations.

III. SERVICE DESCRIPTION

YSL Consulting offers a list of services for business owners to choose from, depending on their particular business needs. These are the following: 1. INFORMATION SYSTEM CONSULTING: We will help our clients in developing an understanding of the information needs of their
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business, the way in which information flows around the organization and the competitive advantage that might be gained through investment in Information Technology. We also help them evaluate and improve their current system. 2. PROJECT MANAGEMENT: All of YSL Consulting consultants have a wide range of project management experience, gained over a broad range of projects throughout the financial services industry. This experience ensures a good understanding both of the business needs and of the critical success factors relating to projects.

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We use an approach based on PRINCE, the methodology developed as a government standard. This approach concentrates on the deliverables of a project, focusing on their quality, as well as the monitoring, review and control of the processes during their production. Independent reviews of major projects have consistently identified poor quality project and small projects. YSL Consulting has indepth experience of project management in the wholesale, retail and investment banking industries. Our success is based on a set of proven abilities enabling us to

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Accurately define scope and manage change Meet business objectives and realize measurable benefits Manage risks and issues Identify key deliverables and milestones Review and sign off at various stages of the project lifecycle Manage all project participants including business, IT and suppliers Select any third party services as appropriate Ensure effective business and IT implementation Manage communication of progress at steering group and project team levels Coach and mentor client operational and support staff
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3. BUSINESS ENGINEERING:

PROCESS

RE-

We redesign the way work is done to better support the organization's mission and reduce cYSLs Whether involved in process improvement or the more radical process reengineering the driving forces behind these are characterized by customers, competition and change. The ability to take these driving forces on board and deliver benefits with rapid return on investments takes good planning and design abilities coupled with commitment and a willingness to complete the job no matter how difficult the obstacles.

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Often there are serious barriers to change and these needs to be understood and planned in to the overall change program at inception. YSL Consulting believes there are critical success factors that lead to successful outcomes for reengineering projects. These are:

Top management sponsorship Close alignment to business strategy Compelling business case for change Effective change management Line management accountability for change Effective team with appropriate skill set and a commitment to succeed Methodology Constant and diverse communication
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YSL Consulting are able to facilitate change by working closely with our clients. We do this by providing experience, knowledge (both business and technology), enthusiasm and the willingness to train and coach the team members. We welcome the challenges faced by typical reengineering projects and enjoy the success of delivering benefits to the client organization. 4. NEW PRODUCT DEVELOPMENT: New product development represents a complex projects that draws in mYSL, if not all, of the firms functions. Research and development, marketing and sales, production, purchasing and human resources will all be called upon to
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make a contribution. New product development is often undertaken by interdisciplinary teams, which cut across departmental boundaries. YSL Consulting offers support in a new product development program by: a. understanding the customers needs through market research b. technical advice on product development c. identifying and contacting suppliers of critical components d. development of marketing and PR Campaigns to support the launch e. developing promotion campaigns to get distributors on board f. financial planning and evaluation of the return on new product investment.
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5. MARKETING DEVELOPMENT

STRATEGY

Marketing research is a powerful approach to identifying business opportunities. Exploiting them requires a marketing strategy. YSL Consulting will define the approach which our client will take in order to get their customers attention andcritically- get them to spend their money on our clients products or services. We will have a full assessment of the potential and target market through market analysis, as well as through competitive analysis. 6. OTHER SERVICES: Our other services include
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Management/Operations Audit, and Market Feasibility Studies a. MANAGEMENT/OPERATION S AUDIT: We will conduct an audit to evaluate the effectiveness and/or efficiency of our clients operations b. MARKET FEASIBILITY STUDIES: We develop market feasibility studies for businesses that want to market new products or technologies. Our market feasibility studies include a full assessment of potential markets, competitive analysis and the financial viability of commercializing the product. TECHNOLOGY
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YSL Consulting will maintain latest Windows and Macintosh capabilities including: 1. Complete e-mail facilities in Internet for working with clients directly through e-mail delivery of drafts and information 2. Complete presentation facilities for preparation and delivery of multimedia presentation on Macintosh or Windows machines, in formats including on-disk presentation, live presentation or video presentation 3. Complete desktop publishing facilities for delivery of regular retainer reports, project output reports, marketing materials,
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market research reports and other kind of reports from the services that we offered. FUTURE SERVICES We will continually expand our services based on industry trends and changing client needs. We plan to offer additional consultancy services like market research, business continuity planning, and risk assessment.

IV. MARKET ANALYSIS MARKET ANALYSIS SUMMARY

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YSL consulting will adopt a focused market strategy. Logical segmentation breaks the market down into the following: Individuals, Investors, Small Businesses, Medium Businesses, Large Businesses, and Authorities and Public Organizations. Descriptions are provided below. The largest and mYSL logical target markets for YSL Consulting at the present are medium and large businesses. In a the competitive world of business and the need arises so as that we consider individuals and investors to seek for consulting support in their financing and investing endeavor. For our business, we do not have main competitors. We have a lot of widely-sized competitors in a vast
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market of services. This market environment gives ample opportunity for YSL Consulting to create and expand a niche in the chosen market fields. Finally, worth noting is the growth trend for the general market, estimated between 5% and 10%, annually. MARKET SEGMENTATION The following chart and table reflect the estimated market segmentation and growth for this business. Individual persons and Investors Small Businesses - Defined as businesses with 1 to 24 employees. Medium Businesses - 25 to 499 employees, this is the second largest and fastest growing segment in our region
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 Large Businesses - 500 or more employees. Authorities and Public Organizations Potential Growt 200 201 201 CAGR Customers h 9 0 1 Individuals 23.59 and 20% 10 11 12 % Investors Small 10% 5 Businesses 6 7 9.73%

Medium 10% 33 36 40 9.82% Businesses Large 5% Businesses Authorities and Public 5% Organisatio ns 34 36 38 5.42%

10 11 12 8.78%

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Total

8.78% 92 100 109 8.78%

Target Market Segment Strategy For our further development, we consider the following market segments to be very important:

Individual persons and Investors. Medium and Large Businesses.

YSL Consulting will focus its marketing strategy primarily on these market segments. MARKET NEEDS There are three different major opportunities (needs) in the fiduciary business over the next years: 1. As the businesses needs to run through the competitive world of business, they must have improve the process and operations in their
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business so us to cope up with the competition and meet the demand of the market. In line of this, there is a great need to employ a radical change in ways their business processes and operations are handled so as to meet the desired improvement in their line of business. This very sensitive matter needs to be handled by professional consultants because of the complexity of the subject. 2. MYSL business endeavors are considering the needs and wants of the market. They want to offer products and services that the market needs and at the same time would increase their profit. Development of new product and service is, again, a very sensitive issue that needs to be supervised
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by people capable of handling such susceptive matter of developing new line of product and services. 3. Information System development is, nowadays, a very important aspect of mYSL businesses, especially those large businesses, so as in handling receptive and voluminous information. The development and improvement of such system requires technical assistance from expert consultants. 4. Businesses needs to understand the people whom they are to offer their product and services as well as the strategy on how to reach out their product and services to the people. Market analysis and strategy development and improvement are major consideration of a business. This
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necessitates a thorough study, so as to be able to reach the market with enough strength to face competition. Such a study now calls for assistance from expert people since managing this matter is complex one. 5. Auditing services and other management advisory services are some of the other needs of our market that we consider. We think that the need for consulting and other specialized fields has a strong growth potential. MARKET TRENDS Three primary market trends seem to be mYSL important in our business: Trend 1- (mYSL important) Rapid growth in complexity of business in an ever-changing market and
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competitive environment needs continuous and rapid adaptation in both strategy and structures of companies. Trend 2- (moderately important) The recent condition of recession in the global market and the effects that it brought to the local economy is perceived to bring a percentage of unsuccessful ventures resulting in more litigation, which, in turn, will emphasize the need for specialized audits, investigation, business restructuring, thorough analysis of the market, etc. Trend 3- (least important) Predicted continued growth in consulting because companies will be unwilling to pay fixed cYSLs of salaries, choosing instead to treat specialized l knowledge and needs and technical
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skills and support as variable cYSLs from external sources. Economically it is more expedient to acquire specialized services from a consulting firm that has its own specialized employees. MARKET GROWTH As noted in the previous section, several factors are predicted to continue well into the next decade, not the least of which we estimate the annual market growth rate between 5% and 10%. Service Business Analysis The fiduciary and consulting business for the local area is already well established, yet still allows ample opportunity for us. This is supported by the following points:

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 Already in existence are a large number of firms, which are closely competing with each other. We think that this circumstance needs would require consultancy assistance to maintain and develop desirable strategies Customers tend to be loyal, relying on the same consultant for future needs once a relationship has been established - this fact requires establishing a good and intensive personal relationship with client. The globalization of markets will increase the demands for expansion of new services related to our business. We believe our business is in a period of grand change. competitors must be generalists specialists at the same time.
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in a The and For

medium and large businesses, a focus of one primary segment of business and strategic strength is necessary. For our business, we do not have main competitors: We have many competitors in diversified services. More important than the competitors, is the need to get established in the right market and to develop this market with a strong and flexible strategy. COMPETITION PATTERNS AND BUYING

Competitors in the forefront of the marketplace typically offer information-based consulting, integration and management services. Services are designed to
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increase clients' operations effectiveness through reduced cYSL, improved customer service, enhanced quality of current product lines and services, and a more rapid introduction of new products and services. Competitors also offer industry-specific expertise to objectively evaluate, select, develop, implement, and manage information systems, networks, and applications. Consulting services are becoming more focused on technology-based solutions to help clients improve cYSL management, quality, service, and research and development to obtain differentiation and competitive advantage. E-strategy services are being provided to business and IT executives with education, insights, and strategies to utilize the power of
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the Internet to improve their performance. E-strategy services include executive visioning, business strategy, planning for e-business initiatives, user design, and intellectual capital formation. IT strategy consulting services are focusing on the use of IT to support business goals, and to leverage the power of the Internet to transform the way products and services are distributed and retailed. Strategic planning consulting services typically consist of strategic alignment (which includes IT strategic planning and governance, alignment of IT and process, and future focus and regulatory requirements), IT department operational excellence (which includes fiscal responsibility,
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infrastructure, IT department processes, data center operations, and IT human resources management), and IT value realization (which consists of performance measurement, business integration (people, process and technology), change management and application investment). Performance improvement services consist of process redesigning to reducing administrative cYSLs, improving financial performance, engaging and retaining customers, and improving accountability and reporting. Other commonly found services among competitors include long-term IT management expertise, as well as a wide range of management services including assessment/due
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diligence, program management, discrete outsourcing, and full IT outsourcing services.

COMPETITIVE COMPARISON The competition comes in several forms: 1. The mYSL significant competition is no consulting at all, firms choosing to do project development, business development, New Product Development, Information Systems Development, Project Management, and Business Analysis on their own. Their managers do this, as part of their regular business functions. Our key
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advantage in competition with inhouse development is that managers are already overloaded with responsibilities; they dont have time for additional responsibilities in new product development, information system development, business analysis, project management and business development. YSL Consulting can also approach alliances, vendors, and channels on a confidential basis, gathering information and making initial contacts in ways that the corporate managers cant. 2. High prestige consulting firms. MYSL of them are essentially generalists who take their name brand management consulting into specialty areas. Their weakness is
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the management structure that has partners selling new jobs, and inexperienced associates delivering the work. We compete with them as experts in our specific fields, and with the guarantee that our clients will have the top-level people doing the actual work.

INDUSTRY PARTICIPANTS

In the consulting industry, there are thousands of smaller consulting organizations and individual consultants for every one of the few dozens well-known companies At the highest level are the few well established major names in
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management consulting. MYSL of these are organized as partnerships established in major markets around the world, linked together by interconnecting directors and sharing the name and corporate wisdom. Some evolved from accounting companies and some form management consulting. These companies charge very high rates for consulting, and maintain relatively high overhead structures and fulfillment structures based on partners selling and junior associates fulfilling. At the intermediate level is source function specific or market specific consultants. Some kinds of consulting is little more than contract expertise provided by somebody looking for a job and
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offering consulting services as a stop-gap measure.

INDUSTRY TRENDS With the continued economic and political uncertainty in this country the demand for consulting services will grow as many companies are reluctant to hire additional employees. More and more work will be contracted out to outside consultants as companies maintain tight control over labor cYSLs. This trend is also true in the government sector which is under increasing pressure to reduce cYSLs by reducing their employment levels.

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Consulting lags the economy by two to three quarters. A savvy consulting firm, then, could treat this lag as a crystal ball, taking time to assess the challenges and, more importantly, opportunities of a shift in the economy even before its effects have been felt. Services and offerings can be redesigned to match the new demands---an option (and a necessity) for any business, obviously, but one that is exponentially more advantageous when it can be done preemptively.

V. STRATEGIES IMPLEMENTATION

AND

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YSL Consulting will focus on the following to improve our sales, gross margin, and profitability, to attain business growth, and to retain its position in the consulting Four main promotion strategies: networking and referrals, web based promotion, traditional media advertising, and some non-traditional promotion methods. A value proposition of timely and practical solutions, at a reasonable rate, coupled with a 100% guarantee. A competitive edge based on cultivating existing customer relationships. Hiring additional qualified and competent consultants for our growing operations and for the future
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services that we are planning to offer. STRATEGY PYRAMID MYSL of the textbooks and/or experienced business people who contributed to the research for this plan suggested some combination of the following four marketing strategies. These are especially suited for a modern high tech business such as computer consulting. Strategy 1 - Networking & Referrals - Using existing contacts and clients to build a larger network of potential clients. Strategy 2 - Web promotion Using a web page to showcase the owner's skills and knowledge,
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providing an "electronic brochure" as well as useful technical information free of charge. Strategy 3 - Advertising Traditional methods such as Yellow Page ads, newspaper classified and display ads, local television cable access advertisements. Strategy 4 - Non-traditional Creative and unique advertising such as door hangers, bumper stickers, etc. VALUE PROPOSITION We provide high-quality and very competent services, all at a very reasonable and competitive rate. MYSL important, YSL offers a 100% satisfaction guarantee, thus building
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and retaining the client's confidence. The value proposition offered YSL Consulting is quite simple: timely and practical solutions for client's management or operational

COMPETITIVE EDGE YSL Consultings competitive edge is it already has a significant number of high quality relationships with current and potential clients. In essence, YSL consulting has already established a good reputation in the Consulting industry, and has become one of the mYSL trusted and relied upon consulting firms. PRICING STRATEGY
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Our price will vary on the services that we offer. We priced our services reasonably and in an amount that is affordable to our clients. PROJECT MANAGEMENT P3,200 per hour BUSINESS PROCESS REENGINEERING P4,000 per hour INFORMATION SYSTEM CONSU LTING billed per project at a minimum price of P300,00 0
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NEW PRODUCT DEVELOPMENT P18,000 per day MARKETING STRATEGY DEVELOPMENT P 3,900 per hour OTHERS P 13,000 per day PROMOTION STRATEGY The primary promotion strategy for YSL Consulting will be directly in line with the strategy pyramids mentioned previously. The lead strategy will be to focus on cultivating existing relationships, using known networking techniques to develop referrals and new customer leads. Added to this will be a blend of web based marketing and traditional public relations and media marketing.
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The ultimate promotion strategy, however, will be in guaranteeing customer satisfaction: happy customers will generate repeat and new business. VI. MANAGEMENT TEAM YSL Consulting leaders bring decades of diverse experience and a history of success. It has seasoned and proven management team with a track record of excellent consulting works and building long standing client relationship. Combining business acumen with technical savvy, YSL leaders guide 26 talented and competent employees in performing consultancy works that enable clients around the Philippines to have confidence with the firm.
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YSL Consulting has a senior manager who directs skilled consultants in which 2 are senior consultants and 20 are associate consultants. To meet the different needs of the different clients and to give the best results for every consulting work, each partner and senior consultant heads the six consultancy services that the company offers. Under each partner and senior consultant are the associate consultants who has his/her own field of expertise such as strategic planning and development, research, financial support, training, survey, marketing, human resource, outsourcing, electrical and civil engineering, architectural and interior designing, information technology
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and information system. So, it is of assurance that doing business with YSL Consulting, clients will get just the best from its people. These people who have diverse experiences and common vision of the future, committed to creating superior value for all- stakeholders, customers, employees, investors, and society as a whole. Management Team YSL Consulting Atty. Charissa Lee, CPA, MBM Partner YSL Consulting Atty. Charissa Lee, a partner and founder of YSL Consulting is incharge with the companys Project
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Management services. Since June 2000, Atty. Lee has served as Senior Consultant of Deloitte Inc., an international consulting firm for international clients. Earlier in her career, she served as Vice President of TAE Investment Bank in Singapore from 1992-1999. From 1986-1992, Atty. Lee was a Senior Accountant of Tuner Construction, a construction management company. She is currently a stockholder of Invest-na Inc., COME Global, and is on the Board of Advisors of SHACKS Inc., an international law firm based in Japan. Atty. Lee is a licensed accountant with an MBM from the University of Baltimore and JD from American Universitys Washington College of Law in Washington, D.C.

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Engr. Justin Yap, CMA Partner YSL Consulting Process Re-enEngr. Justin Yap, CMA, co-founder and partner of YSL Consulting is responsible for Business gineering services. Mr. Yap spent more that six years as Senior Manager at Pricewaterhouse Coopers, a global assurance, tax and advisory services organization where he was in-charge for all sales and marketing initiatives. He is also an Engineer licensed in the State of New York and a member of the American Institute of Engineers. Mr. Jessa Sue, CPA, CISA Partner YSL Consulting
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After passing the CPA board exam on Oct. 1987, Mr. Reyes began his career as an Assistant Chief Accountant in Shell Corporation, Dagupan Branch in 1987. In 1989, he became the internal Auditor of Jansport Jeans Co. and an editor of The CPA Journal. Mr. Reyes served as Systems Analyst for Intel Philippines in 1990 and in SMART Communication in 1996. Mr. Reyes is also a Certified Information System Auditor. He joined YSL Consulting where he is one of the partners in 2004 and is now the Head of I.S. Consulting services of the firm. Ms. Rea Reyes, CPA, MBM Senior Manager YSL Consulting
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A graduate of B.S. Accountancy in University of Saint Joseph, Ms. Malasaga first worked as Provincial Project Manager of KYUS Tech where she won a Php 2.5 M contract with EAN Enterprises, a companys client. In 2000, she became Chief financing officer of Hubby Group of Companies where she provides leadership in financial managementoverseeing the corporations accounting and financial structure and activities. Essential for her current position as Senior Manager and Head of the companys New Product Development services, Ms. Malasaga employed amassed experiences on supervision and management to concretely administer the operations and
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functions of the company and its handled projects. She is a licensed accountant with an MBM from the University of Santo Tomas. Mrs. Rachel Ann Siok Senior Consultant YSL Consulting Mrs. Siok joined the YSL Consulting team in August 2005 and is now the Head of the companys Business Analysis services. Prior to joining YSL Consulting, Mrs. Siok as an assistant supervisor of SM, Cebu City. She is a licensed accountant and has worked at Accenture and Mercer Management consulting on 2002 where she was a junior consultant. Currently, she is the Vice

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President of Bato Accountants Association in Bato, Leyte. Mrs. Mary Eden Larson Senior Consultant YSL Consulting A certified management accountant in 2000, Mrs. Larson began her career as a marketing manager of Ayala Business Inc., Cebu City where she was responsible for directing employees in the marketing department and in obtaining strategy in on-line marketing. She joined YSL Consulting in 2004 and she is now the Head of Management operations Audit and Market Research services of the firm.

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VII. FINANCIAL ANALYSIS VIII. RISK ASSESSMENT Technology and Production Risk: YSL Consulting has been providing wide range of consulting services for 5 years. Since our inception, the management is considering technology and production risk wherein, the early success with single application/ product lines does not translate into long term viability I the face of wellcapitalized, entrenched competitors w/strong customer relationships. Thus, we make some actions to eliminate if not, reduce this risk. These actions are named as follows: development of strategic technology
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development partnerships, development of the business and technology strategy and lastly, top management participation. Team and Management Risk This risk is the event wherein the star-up spirit starts to fade, key people are leaving, poor decision support system is existing, and there are overridden and inadequate internal systems, nonresponsive to customers and employees. That is why in keeping pace with an increasingly complex business environment requires proper delegation, better communication and cross-pollination of perspectives from outside advisers and peers. Another action also to reduce this
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risk is managing the business as a team, establishment of management systems enabling better control, transparency, and customer relationships and development of employee empowerment mechanisms. YSL Consulting is a large scale consulting firm aiming to provide consulting services at its maximum level. Basically, formations of business organizations are always associated with risks. These risks need to be assessed in which such assessments must be parallel to the size of the firm. YSL Consulting belongs to large sized business thereby requiring the management a more extensive and a higher level of risk assessment. These risks can
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potentially affect the entity if not detected. And it is for this reason that the management should not overlook such threats. It further demands outright and appropriate alternatives that the management should execute in order to eliminate if not, reduce such risks. Marketability and Competing Risk Because of increasing consulting demands, consulting industry has increased rapidly. Many professional individuals form businesses offering the same line of services. Thus, it creates a potential threat to the firm. Possible causes of company downfall against competitors would be: poor market feedback, poor strategic marketing plan, competitors
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knock-offs and customer complaints. Therefore, while managing growing complexity, it is essential to remain focused on how the business provides value to its customers. The company must also put up a R & D team to make a feasibility study and evaluations to the market and the consulting trends in order to respond appropriately to the current customer needs and feedbacks. Financial Risk Since the firm is at large financially, YSL Consulting is facing higher financial risk. Firms huge establishment entails the existence of large fixed cYSL too. This condition refers to leverage. The size of the building needs higher fixed operating cYSLs such as
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depreciation of fixed assets like equipments and machineries as well as excessive increases in overhead and salaries of the management including the personnel. To control the potential risks, the company must reduce its operating cYSLs through optimization of operating systems. There must be efficiency in accounting the overhead cYSLs and depreciations in order to avoid excessive cYSL allocation, thereby reducing expenses and increasing profit.

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