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Ec5
1. Extra Credit 5 – The Business Of You
1. Know your education and
finance goals
2. Gather your financial data:
Total semesters to finance
Semester-related expenses
Semester “financing sources”
Monthly income
Monthly “operating expenses”
3. Visit the AIE.org website
4. Setup your financial plan for
goals
2. EC5– Points!
8 Points = Financial Plan and Paper (3-5 pages): MUST
Complete Education Financial Plan on website
Apply financial plan framework: Be able to answer:
1. What funds I require during my educational period?
2. When will I need additional funds?
3. Where will I obtain the necessary funds?
Put education financial plan in appendix
Cite Sources
10 points = Present summary to class with Powerpoint
(3 slides)
DUE: April 24, 2014
3. Part of Business Plan
Specifies
funds needed over time
inflows and outflows over time
Best funding sources and uses
Operating Plan: usually 2 years
Strategic Plan: 5 + years
EC5 Framework - The Financial Plan
4. For a Given Period of Time:
1. Forecast sales and revenues
2. Forecast expected expenses and profits levels
3. Estimate additional assets need to support
projected sales
EC5 Framework - Three Steps of Financial Plan