You will create a financial business plan for the assigned project.
The Business Plan will contain the sections and components common to typical business plan models.
The specific needs of each project will determine the appropriate model to use.
Financial information
Every Business plan contains some type of financial date. The exact nature of this data is dependent on the nature of the product or service. You will need to show financial forecasts for several years to demonstrate the potential success of your venture. These estimates need to be realistic and show a well-designed operational plan that takes into account all the expenses related to purchasing or producing your product and selling your product or service. The business plan should include Pro Forma Financial statements including an Income statement cash projection schedule and balance sheet. Pro forma means the statements do not follow Generally Accepted Accounting Principles specifically but may include the use of estimates. Pro forma statements will only include recurring items. For example if you had a fire one year and a large casualty loss you would not include those on pro forma statements because it is not a usual and expected expense. The figures on your financial forecasts will represent decision you have made about factors such as product price location customers and strategy. It is important to be realistic about potential sales and earnings. Be conservative and consistent; choose an appropriate accounting method for your industry and form of business.
Business Plan Financial sections will include the following information:
1. Income statement (also called a profit and loss statement)
2. Current funding
3. Net present value (NPV)
4. Balance Sheet
5. Profit and loss projection
6. Key performance indicators
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