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A FINANCIAL PLAN FOR YOUR BUSINESS

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A FINANCIAL PLAN FOR YOUR BUSINESS

To complete this assignment successfully you are required to do the following;

Draft a comprehensive financial plan to assess the financial viability of a business start-up.

In order to complete this financial plan for Questions 6, 7, 8 and 9 you will need to create a forecast Income Statement, forecast Balance Sheet, Cash Flow Forecast and Cost Volume Profit Analysis which will need to be an integrated excel spreadsheet.

The use of excel spreadsheet for questions 6, 7, 8 and 9 is compulsory. If there is no spreadsheet submitted for questions 6, 7, 8 and 9 with the rest of the assignment, no marks will be given for questions 6, 7, 8 and 9. All formulas and workings must be shown.

Note: We expect two papers to be submitted. One for the written answers for questions 1 to 5 and a spreadsheet for questions 6 to 9.

As a minimum your plan will include:

1. Business Idea Provide a brief overview of your business and the services/products you will provide. Note: provide a summary, not a copy of assignments from your other GBE papers.

2. Establishing your business

Prepare an itemised list of assets needed to establish your business.

GBE - 806 ASSIGNMENT 2 Page 2 of 4 December 2015

3. Funding your business

Discuss how you will finance your business broken down in: - Funding of initial assets - Funding of growth (working capital and additional investments).

Include in your discussion the main characteristics of each funding option, a link to the stage of the business growth cycle and advantages/disadvantages.

4. Managing your Assets

Discuss methods/procedures you will use to evaluate business asset purchases, i.e. cost/benefit analysis. Apply these to your main asset purchases.

5. Managing working capital Discuss methods/procedures you will use to manage your working capital i.e. cash, inventory, accounts receivable, accounts payable. Explain techniques you would consider to reduce the use of working capital.

6. Income Statement (Profit & Loss) Forecast

Using an excel spreadsheet develop your income statement. Estimate your sales and expenses (exclusive of GST) for each month, for the first year (12 months) of your business (including a total column) and the resultant profit(loss). Complete your forecast with an aggregate forecast for the next 2 years (only annual forecast, no details per month required).

Note: You will need to explain your sales and expense estimates and provide details. A. Sales o Your sales estimate should include an explanation on the selling price. This explanation should refer to the costing of your service/product and comparison to competitor pricing. o You also need to give details on the volume of your sales eg number of customers. o You should also explain when you expect to receive your sales in cash (for use in your cash flows budget). B. Expenses o A brief explanation for each of your expenses will suffice. o Don’t forget to include depreciation and insurance costs. o You should also explain when you expect to pay these in cash. (for use in your cash flows)

7. Balance Sheet Forecast

Using an excel spreadsheet develop your Balance Sheet. Estimate the main balance sheet items for each month, for the first year (12 months) of your business (including a total column) and show that the totals of both sides of your balance sheet are in balance (equal). Complete your forecast with a balance sheet forecast for the next 2 years (only annual forecast, no details per month required).

GBE - 806 ASSIGNMENT 2 Page 3 of 4 December 2015

8. Cash flow Forecast

Using an excel spreadsheet develop your cash flow forecast. Estimate your cash receipts and payments (including GST) for each month for the first year of your business (including a total column). Provide a clear break-down in operating cash flow, investing cash flow and financing cash flow. Show that your movements in cash position are equal to those in your balance sheet projections.

Note: Assume that you are on the 6 monthly GST payments basis - Use your sales and expense estimates to calculate when you will receive/pay cash. - Don’t forget to include establishment costs (assets), loan finance and drawings.

9. Cost Volume Profit Analysis

Using your forecasted income and expenses classify the expenses into fixed and variable costs. For the first year calculate the breakeven point for your business. Provide a contribution margin statement to prove your calculations are correct. Show workings on your excel spreadsheet.

Using the variable cost percentage and fixed costs calculated for breakeven point above, prepare a forecasted Income Statement (contribution margin format) based on the most likely, most optimistic and most pessimistic outcomes for your business.


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  • Title: A FINANCIAL PLAN FOR YOUR BUSINESS
  • Price: £ 109
  • Post Date: 2018-11-08T12:42:00+00:00
  • Category: Assignment
  • No Plagiarism Guarantee
  • 100% Custom Written

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