ACC604 COURSE PROJECTBUSINESS PLAN: FINANCIAL PROJECTIONS
rev. 9-2009 by D. Schwartz
Objectives of the Project
This project is designed to provide students with the opportunity to gather and analyze the data needed to prepare the financial section of a business plan, and to synthesize the data into the form of a written report accompanied by projected income statements, cash flow statements, and balance sheets for the first two years of a four-year business plan.
The Purpose of Your Business Plan
Business plans are developed for various purposes, such as providing potential investors or lenders with a credible projection of revenue, profit, and capital requirements. The failure rate for small businesses is extremely high, often because the entrepreneur underestimated the amount of capital that would be required. The question to be answered by this business plan project: “How much capital (cash) will I need to invest, and when (in what months) will it be needed?” The answer will appear on the Cash Flow Statement in the form of any negative ending cash balance that results after all data other than owner investment has been entered.
The Business
You have spent the last 15 years in a high-paying but stressful job in a technology company, and have now decided to start a business of your own. Being an excellent cook, your plan is to open a specialty restaurant in an upscale suburban shopping mall. (You may select any nationality cuisine or other specialty you wish.) Your restaurant will serve lunch and dinner during the hours 11:00 a.m. to 9:00 p.m., seven days a week. Revenue is expected to average $10 per lunch patron, and $20 per dinner patron. Though you plan to do some advertising, you are counting on word-of-mouth recommendation by very satisfied customers as the primary source of your clientele. Your restaurant will accept cash or major credit card only, no checks or charge accounts.
You have found available restaurant space in a suitable location that you can lease for a term of 5 years at a monthly rental of $2,000 plus 3% of gross revenue. There is space for 10 tables seating four persons each, and an additional 10 tables seating two persons. You estimate that kitchen equipment, tables, chairs, and table settings will cost $60,000 to be financed by $12,000 in down payment and a $48,000 bank loan at 10% interest, the principal to be repaid in 48 monthly installments. Redecorating and remodeling is expected to cost $40,000, with another $10,000 for sales registers, computer system, and office equipment – all to be paid for in cash. An additional $10,000 in leasehold improvements and $5,000 in office equipment is anticipated for the second year of operation. For the purpose of calculating depreciation expense, you estimate that all equipment and furniture will have a useful life of 5 years which equates to a 20% annual straight-line depreciation rate.
Your savings are primarily in tax deferred retirement accounts, and cannot.
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B6022 Module 1 Assignment 3 Calculating Financial Ratios
ital to any ratio analysis are the steps of gathering financial data and selecting and calculating relevant ratios. This assignment provides you with an opportunity to do just that.
For more course tutorials visit
www.tutorialrank.com
B6022 Module 1 Assignment 3 Calculating Financial Ratios
ital to any ratio analysis are the steps of gathering financial data and selecting and calculating relevant ratios. This assignment provides you with an opportunity to do just that.
ACC 700 Final Project Guidelines and Rubric Overview .docxbartholomeocoombs
ACC 700 Final Project Guidelines and Rubric
Overview
As the final step in your journey toward earning your Master of Science degree in Accounting, you will complete a capstone that integrates the knowledge and
skills you have developed in previous coursework and over the duration of the term by creating a portfolio that is representative of your growth in the Accounting
program. You will also reflect on your journey through the Accounting program and how you plan to position yourself professionally.
A portfolio can provide you with advantages in both career and academic settings. Whether you are seeking employment or admission to a school or program, a
portfolio can help you verify the claims that you make about yourself and provide tangible evidence that you are qualified for the position or school you are
seeking. A well-done portfolio will help convey the impression that you are strongly motivated, well organized, and accomplished in your field.
In this assignment, you will demonstrate your mastery of the following course outcomes:
Employ discipline-specific research strategies to appraise the effectiveness and limitations of financial accounting and reporting practices in a global
economy
Evaluate and generate complex financial statements for internal and external users including effective compliance with full disclosure and in accordance
with applicable governing rules and regulations
Apply IRS rules for tax planning to minimize the tax liability of individuals and organizations
Analyze, interpret, and communicate to all stakeholders the significance of accounting information as it relates to an organization’s strategic plans
Prepare components of financial statements in accordance with both US GAAP and IFRS reporting requirements
Assess an audit plan for compliance with PCAOB audit standards
Prompt
Imagine that you are a new employee at the fictitious CPA firm Swanson, Nelson, Hamilton, Ulrich, & Co., LLC (S.N.H.U., LLC). In your new role, your supervisor
has made you responsible for three sets of tasks for three different clients.
Client One – Chester, Inc. (Financial Statements and Analysis)
Chester, Inc. is a large, publicly traded client at S.N.H.U., LLC. Your task is to develop a comprehensive, professional report for the board of directors. To do this,
you will use Chester, Inc.’s trial balance to compose comparative financial statements, analyze data, and interpret results. These financial statements must be in
good form in accordance with Generally Accepted Accounting Principles (GAAP). Next, you will assess the performance of Chester, Inc. using the financial
statements you created, along with industry performance data and the financial statements of a competitor. In addition, Chester, Inc. is considering expanding
into the global market. They would like you to highlight key areas of the financial statements you have prepared and identify how they would be re.
Case Description FROMA is a small business that provides soft go.docxcowinhelen
Case Description
FROMA is a small business that provides soft goods (straps and pack systems) to military buyers. They are considering several different investments and have asked you for your help in evaluating the impact, as their CFO is part-time and does not have the capacity to advise the owner on this matter.
Due to constraints on management oversight, only one of the investments can be made. The owner has had conversations with various sources of capital for the different investments. The investment alternatives are listed in the table below, along with the funding source(s) and the returns that each funding source expects.
FROMA’s part-time CFO has provided you with the following information:
· Weighted Average Cost of Capital (WACC) is assumed to be 10%.
· A recent balance sheet (see supplemental information section) and the most recent profit and loss statement (see supplemental information section), and the current five year profit and loss forecast (which assumes no investment project is pursued).
· Cash flow assumptions of each investment alternative (see supplemental information section).
· Any debt that FROMA has or takes on is coupon debt - there will be no principal repayment requirements, only annual interest.
· All existing and future fixed assets have an assumed depreciable life of 10 years and all existing assets have been purchased within the last two years.
1
Requirements
Write a report addressing the content requirements listed below. Your report should be properly formatted into sections that are congruent with the content requirements. This is a professional business report, not a book report or creative writing assignment. Feel free to use your own style, but the report should be professional and well-written.
Submission requirements
This assignment should be prepared as a business report with schedules.
Grading will be based upon:
• Satisfaction of requirements listed below.
• Quality of analysis, discussion, and estimation methods.
• Quality of report organization and layout.
• Proper grammar and spelling; style and flow; sentence construction; concise but complete. • Editing - good writing is rewriting!
Graphics and other visualizations are not an absolute requirement (unless otherwise specified), but your grade will be positively affected by the use of effective visualizations.
Make certain you appropriately show relevant calculations. If you find it difficult to present calculations using software, you may handwrite your calculations and include those calculations in your pdf. Utilizing an appendix is an excellent way to provide supplemental information (such as detailed calculations) in a report. Another option to show calculations is to cut/paste an excel schedule as an image into Microsoft Word, with written commentary as appropriate.
Tier 1 requirements (maximum grade of B+):
Write a report outlining your recommendations for investment. Include the following in your report:
1. Evaluate a.
For more course tutorials visit
www.tutorialrank.com
B6022 Module 1 Assignment 3 Calculating Financial Ratios
ital to any ratio analysis are the steps of gathering financial data and selecting and calculating relevant ratios. This assignment provides you with an opportunity to do just that.
For more course tutorials visit
www.tutorialrank.com
B6022 Module 1 Assignment 3 Calculating Financial Ratios
ital to any ratio analysis are the steps of gathering financial data and selecting and calculating relevant ratios. This assignment provides you with an opportunity to do just that.
ACC 700 Final Project Guidelines and Rubric Overview .docxbartholomeocoombs
ACC 700 Final Project Guidelines and Rubric
Overview
As the final step in your journey toward earning your Master of Science degree in Accounting, you will complete a capstone that integrates the knowledge and
skills you have developed in previous coursework and over the duration of the term by creating a portfolio that is representative of your growth in the Accounting
program. You will also reflect on your journey through the Accounting program and how you plan to position yourself professionally.
A portfolio can provide you with advantages in both career and academic settings. Whether you are seeking employment or admission to a school or program, a
portfolio can help you verify the claims that you make about yourself and provide tangible evidence that you are qualified for the position or school you are
seeking. A well-done portfolio will help convey the impression that you are strongly motivated, well organized, and accomplished in your field.
In this assignment, you will demonstrate your mastery of the following course outcomes:
Employ discipline-specific research strategies to appraise the effectiveness and limitations of financial accounting and reporting practices in a global
economy
Evaluate and generate complex financial statements for internal and external users including effective compliance with full disclosure and in accordance
with applicable governing rules and regulations
Apply IRS rules for tax planning to minimize the tax liability of individuals and organizations
Analyze, interpret, and communicate to all stakeholders the significance of accounting information as it relates to an organization’s strategic plans
Prepare components of financial statements in accordance with both US GAAP and IFRS reporting requirements
Assess an audit plan for compliance with PCAOB audit standards
Prompt
Imagine that you are a new employee at the fictitious CPA firm Swanson, Nelson, Hamilton, Ulrich, & Co., LLC (S.N.H.U., LLC). In your new role, your supervisor
has made you responsible for three sets of tasks for three different clients.
Client One – Chester, Inc. (Financial Statements and Analysis)
Chester, Inc. is a large, publicly traded client at S.N.H.U., LLC. Your task is to develop a comprehensive, professional report for the board of directors. To do this,
you will use Chester, Inc.’s trial balance to compose comparative financial statements, analyze data, and interpret results. These financial statements must be in
good form in accordance with Generally Accepted Accounting Principles (GAAP). Next, you will assess the performance of Chester, Inc. using the financial
statements you created, along with industry performance data and the financial statements of a competitor. In addition, Chester, Inc. is considering expanding
into the global market. They would like you to highlight key areas of the financial statements you have prepared and identify how they would be re.
Case Description FROMA is a small business that provides soft go.docxcowinhelen
Case Description
FROMA is a small business that provides soft goods (straps and pack systems) to military buyers. They are considering several different investments and have asked you for your help in evaluating the impact, as their CFO is part-time and does not have the capacity to advise the owner on this matter.
Due to constraints on management oversight, only one of the investments can be made. The owner has had conversations with various sources of capital for the different investments. The investment alternatives are listed in the table below, along with the funding source(s) and the returns that each funding source expects.
FROMA’s part-time CFO has provided you with the following information:
· Weighted Average Cost of Capital (WACC) is assumed to be 10%.
· A recent balance sheet (see supplemental information section) and the most recent profit and loss statement (see supplemental information section), and the current five year profit and loss forecast (which assumes no investment project is pursued).
· Cash flow assumptions of each investment alternative (see supplemental information section).
· Any debt that FROMA has or takes on is coupon debt - there will be no principal repayment requirements, only annual interest.
· All existing and future fixed assets have an assumed depreciable life of 10 years and all existing assets have been purchased within the last two years.
1
Requirements
Write a report addressing the content requirements listed below. Your report should be properly formatted into sections that are congruent with the content requirements. This is a professional business report, not a book report or creative writing assignment. Feel free to use your own style, but the report should be professional and well-written.
Submission requirements
This assignment should be prepared as a business report with schedules.
Grading will be based upon:
• Satisfaction of requirements listed below.
• Quality of analysis, discussion, and estimation methods.
• Quality of report organization and layout.
• Proper grammar and spelling; style and flow; sentence construction; concise but complete. • Editing - good writing is rewriting!
Graphics and other visualizations are not an absolute requirement (unless otherwise specified), but your grade will be positively affected by the use of effective visualizations.
Make certain you appropriately show relevant calculations. If you find it difficult to present calculations using software, you may handwrite your calculations and include those calculations in your pdf. Utilizing an appendix is an excellent way to provide supplemental information (such as detailed calculations) in a report. Another option to show calculations is to cut/paste an excel schedule as an image into Microsoft Word, with written commentary as appropriate.
Tier 1 requirements (maximum grade of B+):
Write a report outlining your recommendations for investment. Include the following in your report:
1. Evaluate a.
Analyze and describe your current budget and budget variance..docxrossskuddershamus
Analyze and describe your current budget and budget variance.
Budgeted plans offer business visionaries some assistance with setting financial objectives – and audit genuine execution against these objectives. Since a financial plan is an appraisal of future numbers in view of current data, your business' real execution ought to be like the budgeted sums. Real execution, be that as it may, will never be precisely the same as the financial backing. It will approach, miss the mark, or surpass the financial backing.
The financial backing ought to be observed frequently consistently: quarterly, month to month, or even week after week. Inspecting the monetary allowance will offer you some assistance with identifying issues before they cost the business an excess of time or cash. How frequently you audit the financial backing relies on upon your trust in the figures and the danger connected with not meeting the monetary allowance. For instance, in the event that you should meet a specific spending plan so as to meet your credit commitments, the danger of missing the mark is high. You should think about modifying the present year's financial plan at different interims consistently. Numerous organizations re-assess their financial plans part of the way through the year. Along these lines they can survey the genuine results so far and modify the monetary allowance to all the more precisely speak to genuine desires.
At the point when your business does not meet budgeted figures, begin by exploring the business methodology that shaped the premise for the financial backing. Some part of executing your business technique did not happen not surprisingly. You additionally need to investigate the financial backing figures, giving careful consideration to the real parts of benefit—Sales, Cost of Goods Sold, and Operating Expenses. Perhaps you met your Sales objectives and comprehended the Cost of Goods Sold, however misconstrued Operating Expenses. Assess the progressions you should make to future spending plans to incorporate this new information.
While making a business budget plan, there are a great deal of things that you have to mull over. A financial plan is continually changing and being adjusted, in light of the fact that your business is always developing, changing, and making strides. In any case, there are additionally outer impacts that you have to mull over while making or altering your business spending plan. There are bunches of various types of outer impacts. Here is a rundown of a portion of the outer impacts that there are on a business spending plan:
Political and lawful outside impacts: There are two or three distinct ways that legislative issues and lawful arrangements can influence your business. Maybe a standout amongst the most widely recognized political and legitimate outside elements is the creation and change of expenses. As a business, you truly have no influence over the amount of cash the administration chooses to duty you f.
1 Huffman Trucking Memo To All Senior Staff F.docxmercysuttle
1
Huffman Trucking
Memo
To: All Senior Staff
From: Kristen Huffman, CEO & President
Re: New Strategic Direction
Thank you for attending our annual strategic planning session. Given recent changes in the economy and
customer needs, a new direction for our company is necessary. After reviewing how other companies
restructured themselves in recent years, we will mirror how UPS® conducts business as a
partner/consultant with large customers. For our company, however, we will go a step further and become a
warehousing/local just-in-time (JIT) delivery source, instead of providing logistics advice to clients, as UPS®
does.
To accomplish this, we must integrate this new direction into our upcoming strategic plan and financial
planning. First, I need all department managers to prepare their budgets.
I would also like our accounting department to move ahead on a preliminary set of pro forma statements,
even without final budgets, using the following assumptions. They must determine if external funding is
needed.
I have attached a summary of assumptions about this new direction.
New Strategic Direction
Page 2
1. Assume inflation of 4% on expenses, not including depreciation and taxes. This is in addition to the
new initiative’s costs.
New Strategic Initiative Assumptions
Huffman may overcome increased competition and economic slowdown by initiating a new strategy; this
will turn our company into a one-stop shop and key logistics company. We will provide consulting services,
generate revenues, and become a JIT warehouse/delivery source. A local retailer selling products from a
distant manufacturing plant, for example, may accept JIT deliveries, instead of 40-foot trailer loads. This
would be fulfilled by the local operation.
2. Assume the following regarding variables versus fixed-nature-of-income-statement operating
expenses for the existing business:
a. 80% of wage benefits is variable and 20% is fixed.
b. 100% of fuel expenses, purchased transportation, and operating supplies is variable.
c. 100% of operating taxes is fixed.
d. 20% of insurance and claims is fixed; the balance is variable.
e. Assume depreciation, even with new expenditures, is fixed as the retirement of written-off
assets, equaling new equipment.
3. There will be new spending areas reflected on future budgets to reflect added satellite warehouse
costs and space rental and costs of running the locations.
a. In the first year, add $10 million of inflation, space rental, and operating costs at 25% of
revenues from the new initiative.
b. In the second year, add $10 million space rental, with inflation at the same variable percentage
of sales.
c. In the third year, add $7.5 million of the variable percentage of sales.
4. In marketing, budget accounts have been added for new incurred costs. We will continue our
present promotion and launch a new program, with the assistance of our marketing partner, the ABC
...
InstructionsBUSN278 Budgeting and Forecasting Template Instruction.docxnormanibarber20063
InstructionsBUSN278 Budgeting and Forecasting Template InstructionsUse this spreadsheet structure to lay out the various sections of your project.The purpose of this spreadsheet is to make it easy for your professor to locate the various sections of your project. Please don't alter the worksheet tabs or titles.After you finish your calculations in this spreadsheet, you will have tocreate a written report where you take screenshots from this spreadsheetand put them in the Budget Proposal Template, along with necessary explanations. Detailed instructions for how to write the reportare found in the Budget Proposal Template, a Word document.
2.1 & 2.2 Sales ForecastPut your sales forecasting calculations here.
3.0 Capital Expenditure Budget
4.1 CashflowsPut your detailed cash inflows and cash outflows here, also showing net cash flow.
4.2 NPV AnalysisCreate an NPV analysis here.
4.3 Rate of Return CalculationsShow your rate of return calculations in this worksheet.
4.4 Payback Period CalculationsShow your payback period calculations here.
5.0 Pro Forma FinancialsPut your pro forma income statement, balance sheet, and cash budget here, along with any other supporting calculations or schedules.
"The Devil Is in the Details" As noted in the Introduction to Unit 4, we often make sound plans for change, but these plans often fail simply because we overlook details. For example, we make best plans to lose weight, but a carton of Butter Pecan Ice Cream finds its way into our shopping cart. Plans are one thing; execution of these plans can be quite another.
You are here in college, seeking a degree in Business Administration or perhaps some other degree where this course is required for your program of study. You are here for some specific reason (a better job, more pay, etc.), and you most likely have made plans for success. Let's evaluate some of these plans and details.
Why are you here working on your degree?
What is your plan for change?
What details do you need to include for you to execute this plan? What is your game plan? What is your strategy?
There will always be roadblocks in any and all plans, regardless of how much planning we do and how much attention to detail we give. One way to offset roadblocks is to monitor progress made. Another way is to celebrate successes, no matter how small, along the way.
Identify at least three possible roadblocks to your success here in school. What might keep you from successfully completing your courses and from graduating?
How will you deal with each of these roadblocks?
How do you plan to monitor your progress?
How do you plan to celebrate your successes, no matter how small? (Yes, ice cream works here!)
Change is defined as improvement - alteration or change for the better. "Continual improvement is good business." Business managers and leaders constantly strive for success - success in performance and in the competitive market place. Businesses must be adaptable to the factors of change and must look.
ACC 201 Final Project Peyton Approved InstructionsFor this del.docxjosephinepaterson7611
ACC 201 Final Project Peyton Approved Instructions
For this deliverable, you will complete the accounting cycle and prepare financial statements that will provide the result you need to assess the success of business operations.
Below you will find the data required to make entries in your accounting workbook. Remember that you are following the business transactions for a three-month period from the initial stage of analysis and recording, through the reporting process. These transactions will include:
·
the initial setup of the business
·
cash and credit sales
·
making payments to vendors
·
paying store employees
·
managing debt
It will help you to print this document as you are making your entries in your workbook. Your textbook prepares you and can be used as a reference to assist you in completing this assignment. You should begin this project in Module Two.
There will be two checkpoints, along the way, at which time you will submit your progress in this workbook to your instructor for review and feedback toward correction and successful demonstration of this accounting cycle as a whole. Your first check point will cover steps 1 through 4 of this workbook. The first checkpoint is in Module 3.
The second checkpoint will have you submit your workbook completed through step 7 in Module 4. You will integrate the feedback, suggestions, and guidance your instructor provides on these steps in the cycle to ensure your success with completion of this cycle. The following steps are included:
Step 1:
Complete the following in the “July Journal Entries” tab in your workbook (be sure to look for the July Journal Entries tab at the bottom of the Peyton Approved Student Workbook).
The following events occur in July 2014:
July 1 – You take $15,000 from your personal savings account and buy common stock in Peyton
Approved.
July 1-Purchase $8500 in baking supplies from vendor, on account
July 3 – Your parents lend the company $10,000 cash, in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.
July 7 – Pay $3000 toward lease agreement for bakery space. The agreement is for 1 year. The rent is $1,500 per month, last month’s rent was required at time of lease agreement. Lease period is effective July 1
st
2014 through June 30
th
, 2015.
July 10 – Pay $375 to the county for a business license.
July 11 – Purchase a cash register for $250 (deemed to be not material enough to qualify as depreciable equipment—use misc. exp.).
July 13 – You have baking equipment, including an oven and mixer, which you have been using for your home-based business and will now start using in the bakery. You estimate that the equipment is currently worth $5,000, and you transfer the equipment into the business in exchange for additional common stock. The equipment has a 5-year useful life.
July 13 – Pay $200 for business cards/flyers/posters/ads to use for advertising.
July 14 – Pay $30.
RequiredAcct 522 Spring 2012 Financial S.docxdebishakespeare
RequiredAcct 522 Spring 2012 Financial Statement ProjectCreate an income statement, a balance sheet, and a cash flow statement for years X1 through X5. You may use any accounting principals that seem appropriate, providing that they are GAAP. Your goal is to maximize the firm’s common stock price at the end of year 5, by making savvy accounting and financial decisions. You should think of yourself as the CFO (chief financial officer) of this firm.REQUIREDPart One (85% of grade):In this assignment, assume that you are creating actual statements for years X1-X5. You will be graded on how well you do the accounting, the reasonableness of your assumptions and the appearance and “presentation” of your financial statements.Part Two (25%)As of the end of year five, do a five-year financial analysis of your company. At a minimum level you should calculate all the ratios that were covered in class. Write a one-page financial analysis that provides a prospective investor with a good overview of the most recent financial results of the company. You will be graded on how well your analysis fits the information from your company.Hint: You will probably have to do financial analyses of other companies in courses like Finance and Strategy. This part of the project is an opportunity to create a financial forecasting/analysis framework that you can transport to other classes. Strange as it might seem, this framework might even be useful in “real life”.BonusTo make the project more realistic I have am asking you to think like a CFO. You will not be graded on the quality of your financial decisions. Your grade will be based on how well you do the accounting. To make the project more interesting I am adding a $20 prize for the individual who maximizes stock price in year X5. The primary criterion is the market value of the stock at the end of year 5, which in this case is directly related to GAAP EPS and pertains to your GAAP statements. (HINT: the price per share depends on how many shares are outstanding. You need to think hard about how much stock you sell in the first year of your analysis.)
Balance SheetAcct 522Spring 2012ProjectBoylanBalance Sheet for the year ending 12/31/X0Assetsx0x1x2x3x4x5assumptionCash200,000200,000200,000200,000200,000200,000Marketable Securities3,514,597Accounts Receivable415,000435750.00457537.50480414.38504435.09529656.855%Inventory308,000Other Assets150,000157,500165,375173,644182,326191,4425%Current Assets4,587,597Equipment2,200,000Accumulated Depreciation660,000Fixed Assets1,540,000Total Assets6,127,597Liabilities and EquityAccounts Payable880,000Other Current Liabilities50,000Current Liabilities930,000Mortgages0Retained Earnings930,000Common Stock400,000Paid in Capital3,400,000Retained Earnings1,397,597Total Equity5,197,597Total Liabilities and Equity6,127,597
Income StatementAcct 522Spring 2012Abridged Income Statement for the year ended 12/31/X0x0x1x2x3x4x5assumptionSales4,150,000722100012,853,3802 ...
For more course tutorials visit
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Purpose of Assignment
This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements.
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Writea minimum 300 word reflection in which you compare and.docxannetnash8266
Write
a minimum 300 word reflection in which you compare and
contrast the Chinese Spiritual Worldview with the Indian Spiritual
Worldview based on the textbook readings.
Describe the early Daoist teachers.
Explain basic Daoist teachings.
Characterize the ideal society according to Confucius.
Illustrate the influence of the natural world on Shinto belief and practice
.
Writea draft of the paper on case tools and include the followin.docxannetnash8266
Write
a draft of the paper on case tools and include the following:
·
Define the term
case tools
and provide at least three examples.
·
Describe how case tools are used in the design of a database.
·
Explain how three different case tools are used in database design, including their advantages and disadvantages.
Format
your paper consistent with APA guidelines.
.
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Analyze and describe your current budget and budget variance..docxrossskuddershamus
Analyze and describe your current budget and budget variance.
Budgeted plans offer business visionaries some assistance with setting financial objectives – and audit genuine execution against these objectives. Since a financial plan is an appraisal of future numbers in view of current data, your business' real execution ought to be like the budgeted sums. Real execution, be that as it may, will never be precisely the same as the financial backing. It will approach, miss the mark, or surpass the financial backing.
The financial backing ought to be observed frequently consistently: quarterly, month to month, or even week after week. Inspecting the monetary allowance will offer you some assistance with identifying issues before they cost the business an excess of time or cash. How frequently you audit the financial backing relies on upon your trust in the figures and the danger connected with not meeting the monetary allowance. For instance, in the event that you should meet a specific spending plan so as to meet your credit commitments, the danger of missing the mark is high. You should think about modifying the present year's financial plan at different interims consistently. Numerous organizations re-assess their financial plans part of the way through the year. Along these lines they can survey the genuine results so far and modify the monetary allowance to all the more precisely speak to genuine desires.
At the point when your business does not meet budgeted figures, begin by exploring the business methodology that shaped the premise for the financial backing. Some part of executing your business technique did not happen not surprisingly. You additionally need to investigate the financial backing figures, giving careful consideration to the real parts of benefit—Sales, Cost of Goods Sold, and Operating Expenses. Perhaps you met your Sales objectives and comprehended the Cost of Goods Sold, however misconstrued Operating Expenses. Assess the progressions you should make to future spending plans to incorporate this new information.
While making a business budget plan, there are a great deal of things that you have to mull over. A financial plan is continually changing and being adjusted, in light of the fact that your business is always developing, changing, and making strides. In any case, there are additionally outer impacts that you have to mull over while making or altering your business spending plan. There are bunches of various types of outer impacts. Here is a rundown of a portion of the outer impacts that there are on a business spending plan:
Political and lawful outside impacts: There are two or three distinct ways that legislative issues and lawful arrangements can influence your business. Maybe a standout amongst the most widely recognized political and legitimate outside elements is the creation and change of expenses. As a business, you truly have no influence over the amount of cash the administration chooses to duty you f.
1 Huffman Trucking Memo To All Senior Staff F.docxmercysuttle
1
Huffman Trucking
Memo
To: All Senior Staff
From: Kristen Huffman, CEO & President
Re: New Strategic Direction
Thank you for attending our annual strategic planning session. Given recent changes in the economy and
customer needs, a new direction for our company is necessary. After reviewing how other companies
restructured themselves in recent years, we will mirror how UPS® conducts business as a
partner/consultant with large customers. For our company, however, we will go a step further and become a
warehousing/local just-in-time (JIT) delivery source, instead of providing logistics advice to clients, as UPS®
does.
To accomplish this, we must integrate this new direction into our upcoming strategic plan and financial
planning. First, I need all department managers to prepare their budgets.
I would also like our accounting department to move ahead on a preliminary set of pro forma statements,
even without final budgets, using the following assumptions. They must determine if external funding is
needed.
I have attached a summary of assumptions about this new direction.
New Strategic Direction
Page 2
1. Assume inflation of 4% on expenses, not including depreciation and taxes. This is in addition to the
new initiative’s costs.
New Strategic Initiative Assumptions
Huffman may overcome increased competition and economic slowdown by initiating a new strategy; this
will turn our company into a one-stop shop and key logistics company. We will provide consulting services,
generate revenues, and become a JIT warehouse/delivery source. A local retailer selling products from a
distant manufacturing plant, for example, may accept JIT deliveries, instead of 40-foot trailer loads. This
would be fulfilled by the local operation.
2. Assume the following regarding variables versus fixed-nature-of-income-statement operating
expenses for the existing business:
a. 80% of wage benefits is variable and 20% is fixed.
b. 100% of fuel expenses, purchased transportation, and operating supplies is variable.
c. 100% of operating taxes is fixed.
d. 20% of insurance and claims is fixed; the balance is variable.
e. Assume depreciation, even with new expenditures, is fixed as the retirement of written-off
assets, equaling new equipment.
3. There will be new spending areas reflected on future budgets to reflect added satellite warehouse
costs and space rental and costs of running the locations.
a. In the first year, add $10 million of inflation, space rental, and operating costs at 25% of
revenues from the new initiative.
b. In the second year, add $10 million space rental, with inflation at the same variable percentage
of sales.
c. In the third year, add $7.5 million of the variable percentage of sales.
4. In marketing, budget accounts have been added for new incurred costs. We will continue our
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InstructionsBUSN278 Budgeting and Forecasting Template Instruction.docxnormanibarber20063
InstructionsBUSN278 Budgeting and Forecasting Template InstructionsUse this spreadsheet structure to lay out the various sections of your project.The purpose of this spreadsheet is to make it easy for your professor to locate the various sections of your project. Please don't alter the worksheet tabs or titles.After you finish your calculations in this spreadsheet, you will have tocreate a written report where you take screenshots from this spreadsheetand put them in the Budget Proposal Template, along with necessary explanations. Detailed instructions for how to write the reportare found in the Budget Proposal Template, a Word document.
2.1 & 2.2 Sales ForecastPut your sales forecasting calculations here.
3.0 Capital Expenditure Budget
4.1 CashflowsPut your detailed cash inflows and cash outflows here, also showing net cash flow.
4.2 NPV AnalysisCreate an NPV analysis here.
4.3 Rate of Return CalculationsShow your rate of return calculations in this worksheet.
4.4 Payback Period CalculationsShow your payback period calculations here.
5.0 Pro Forma FinancialsPut your pro forma income statement, balance sheet, and cash budget here, along with any other supporting calculations or schedules.
"The Devil Is in the Details" As noted in the Introduction to Unit 4, we often make sound plans for change, but these plans often fail simply because we overlook details. For example, we make best plans to lose weight, but a carton of Butter Pecan Ice Cream finds its way into our shopping cart. Plans are one thing; execution of these plans can be quite another.
You are here in college, seeking a degree in Business Administration or perhaps some other degree where this course is required for your program of study. You are here for some specific reason (a better job, more pay, etc.), and you most likely have made plans for success. Let's evaluate some of these plans and details.
Why are you here working on your degree?
What is your plan for change?
What details do you need to include for you to execute this plan? What is your game plan? What is your strategy?
There will always be roadblocks in any and all plans, regardless of how much planning we do and how much attention to detail we give. One way to offset roadblocks is to monitor progress made. Another way is to celebrate successes, no matter how small, along the way.
Identify at least three possible roadblocks to your success here in school. What might keep you from successfully completing your courses and from graduating?
How will you deal with each of these roadblocks?
How do you plan to monitor your progress?
How do you plan to celebrate your successes, no matter how small? (Yes, ice cream works here!)
Change is defined as improvement - alteration or change for the better. "Continual improvement is good business." Business managers and leaders constantly strive for success - success in performance and in the competitive market place. Businesses must be adaptable to the factors of change and must look.
ACC 201 Final Project Peyton Approved InstructionsFor this del.docxjosephinepaterson7611
ACC 201 Final Project Peyton Approved Instructions
For this deliverable, you will complete the accounting cycle and prepare financial statements that will provide the result you need to assess the success of business operations.
Below you will find the data required to make entries in your accounting workbook. Remember that you are following the business transactions for a three-month period from the initial stage of analysis and recording, through the reporting process. These transactions will include:
·
the initial setup of the business
·
cash and credit sales
·
making payments to vendors
·
paying store employees
·
managing debt
It will help you to print this document as you are making your entries in your workbook. Your textbook prepares you and can be used as a reference to assist you in completing this assignment. You should begin this project in Module Two.
There will be two checkpoints, along the way, at which time you will submit your progress in this workbook to your instructor for review and feedback toward correction and successful demonstration of this accounting cycle as a whole. Your first check point will cover steps 1 through 4 of this workbook. The first checkpoint is in Module 3.
The second checkpoint will have you submit your workbook completed through step 7 in Module 4. You will integrate the feedback, suggestions, and guidance your instructor provides on these steps in the cycle to ensure your success with completion of this cycle. The following steps are included:
Step 1:
Complete the following in the “July Journal Entries” tab in your workbook (be sure to look for the July Journal Entries tab at the bottom of the Peyton Approved Student Workbook).
The following events occur in July 2014:
July 1 – You take $15,000 from your personal savings account and buy common stock in Peyton
Approved.
July 1-Purchase $8500 in baking supplies from vendor, on account
July 3 – Your parents lend the company $10,000 cash, in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.
July 7 – Pay $3000 toward lease agreement for bakery space. The agreement is for 1 year. The rent is $1,500 per month, last month’s rent was required at time of lease agreement. Lease period is effective July 1
st
2014 through June 30
th
, 2015.
July 10 – Pay $375 to the county for a business license.
July 11 – Purchase a cash register for $250 (deemed to be not material enough to qualify as depreciable equipment—use misc. exp.).
July 13 – You have baking equipment, including an oven and mixer, which you have been using for your home-based business and will now start using in the bakery. You estimate that the equipment is currently worth $5,000, and you transfer the equipment into the business in exchange for additional common stock. The equipment has a 5-year useful life.
July 13 – Pay $200 for business cards/flyers/posters/ads to use for advertising.
July 14 – Pay $30.
RequiredAcct 522 Spring 2012 Financial S.docxdebishakespeare
RequiredAcct 522 Spring 2012 Financial Statement ProjectCreate an income statement, a balance sheet, and a cash flow statement for years X1 through X5. You may use any accounting principals that seem appropriate, providing that they are GAAP. Your goal is to maximize the firm’s common stock price at the end of year 5, by making savvy accounting and financial decisions. You should think of yourself as the CFO (chief financial officer) of this firm.REQUIREDPart One (85% of grade):In this assignment, assume that you are creating actual statements for years X1-X5. You will be graded on how well you do the accounting, the reasonableness of your assumptions and the appearance and “presentation” of your financial statements.Part Two (25%)As of the end of year five, do a five-year financial analysis of your company. At a minimum level you should calculate all the ratios that were covered in class. Write a one-page financial analysis that provides a prospective investor with a good overview of the most recent financial results of the company. You will be graded on how well your analysis fits the information from your company.Hint: You will probably have to do financial analyses of other companies in courses like Finance and Strategy. This part of the project is an opportunity to create a financial forecasting/analysis framework that you can transport to other classes. Strange as it might seem, this framework might even be useful in “real life”.BonusTo make the project more realistic I have am asking you to think like a CFO. You will not be graded on the quality of your financial decisions. Your grade will be based on how well you do the accounting. To make the project more interesting I am adding a $20 prize for the individual who maximizes stock price in year X5. The primary criterion is the market value of the stock at the end of year 5, which in this case is directly related to GAAP EPS and pertains to your GAAP statements. (HINT: the price per share depends on how many shares are outstanding. You need to think hard about how much stock you sell in the first year of your analysis.)
Balance SheetAcct 522Spring 2012ProjectBoylanBalance Sheet for the year ending 12/31/X0Assetsx0x1x2x3x4x5assumptionCash200,000200,000200,000200,000200,000200,000Marketable Securities3,514,597Accounts Receivable415,000435750.00457537.50480414.38504435.09529656.855%Inventory308,000Other Assets150,000157,500165,375173,644182,326191,4425%Current Assets4,587,597Equipment2,200,000Accumulated Depreciation660,000Fixed Assets1,540,000Total Assets6,127,597Liabilities and EquityAccounts Payable880,000Other Current Liabilities50,000Current Liabilities930,000Mortgages0Retained Earnings930,000Common Stock400,000Paid in Capital3,400,000Retained Earnings1,397,597Total Equity5,197,597Total Liabilities and Equity6,127,597
Income StatementAcct 522Spring 2012Abridged Income Statement for the year ended 12/31/X0x0x1x2x3x4x5assumptionSales4,150,000722100012,853,3802 ...
For more course tutorials visit
www.newtonhelp.com
Purpose of Assignment
This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements.
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Writea minimum 300 word reflection in which you compare and.docxannetnash8266
Write
a minimum 300 word reflection in which you compare and
contrast the Chinese Spiritual Worldview with the Indian Spiritual
Worldview based on the textbook readings.
Describe the early Daoist teachers.
Explain basic Daoist teachings.
Characterize the ideal society according to Confucius.
Illustrate the influence of the natural world on Shinto belief and practice
.
Writea draft of the paper on case tools and include the followin.docxannetnash8266
Write
a draft of the paper on case tools and include the following:
·
Define the term
case tools
and provide at least three examples.
·
Describe how case tools are used in the design of a database.
·
Explain how three different case tools are used in database design, including their advantages and disadvantages.
Format
your paper consistent with APA guidelines.
.
Write To complete the assignment, open the OUTLINE ATTACHMENT fi.docxannetnash8266
Write:
To complete the assignment, open the OUTLINE ATTACHMENT fill it out entirely. Within the worksheet, you will state your thesis statement, provide an outline of your paper, and integrate the four sources (below),
and FIND two more sources being a (webpage and online magazine ONLY) on the topic “The Affordable Care Act 2010”, into your outline to showcase how these resources support your ideas. Provide a full APA references list with a minimum of six sources. Please be sure to utilize outline format and to support all statements with scholarly research. All references should be listed in full APA format and cited appropriately.
Source 1-
Burkhauser, R. V., Larrimore, J., & Simon, K. (2013). Measuring the impact of valuing health insurance on levels and trends in inequality and how the Affordable Care Act of 2010 could affect them.
Contemporary Economic Policy
,
31
(4), 779-794.
Source 2-
Cooper, R. W., & Gardner, L. A. (2016). Extensive Changes and Major Challenges Encountered in Health Insurance Markets under the Affordable Care Act.
Journal of Financial Service Professionals
,
70
(5).
Source 3-
Hester, R. D. (2017). The successful innovations of the affordable care act of 2010.
Journal of Innovation and Entrepreneurship
,
6
(1), 18
Source 4-
Martin, E. J. (2015). Healthcare policy legislation and administration: Patient Protection and Affordable Care Act of 2010.
Journal of health and human services administration
, 407-411.
Source 5-
Sparer, M. S. (2011). Federalism and the Patient Protection and Affordable Care Act of 2010: The founding fathers would not be surprised.
Journal of health politics, policy and law
,
36
(3), 461-468.
.
Write your proposal based on the criterias listed below Pr.docxannetnash8266
Write your proposal based on the criteria's listed below
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Write a 350- to no more than 700-word paper using APA format.D.docxannetnash8266
Write
a 350- to no more than 700-word paper using APA format.
Describe
the flow of information in your company, or in a company at which you have been employed. In your paper, discuss the following:
The intrapersonal, interpersonal, group, organizational, and intercultural levels of communication within your company
How information travels up, down, and across your organization, and how it relates to the basic communications model
The functions of the Y hierarchy of managerial communications. Does it apply to your organization's communication hierarchy?
A comparison of at least three managerial communication approaches you have observed in your organization
At least three potential barriers to effective communications that exist in your company
A minimum of one reference and one in-text citation is required.
First person is acceptable.
.
Write a 350- to 700-word paper in which you investigate the interr.docxannetnash8266
Write
a 350- to 700-word paper in which you investigate the interrelationship between culture and visual entertainment media, such as television and film. Include answers to the following questions:
·
In what ways have various forms of visual entertainment media shaped American culture and its values?
·
Are the social influences of visual entertainment media mostly positive or negative? Explain.
Illustrate
your answers with specific examples.
Conclude
your paper by summarizing how visual media either reflect or influence social behavior and attitudes.
Format
your paper consistent with APA guidelines.
.
Write a 350 word analysis about juvenile attitudes toward poli.docxannetnash8266
Write
a 350 word analysis about juvenile attitudes toward police. Consider recent cases in the media regarding juvenile interactions with police departments. Analyze the attitudes today's youth have toward police. Address the following:
Summary of current media piece you are analyzing
Evaluation of attitudes and factors influencing attitudes
Is remediation of these attitudes necessary?
.
Write a 350- to 700-word paper in which you do the followingExp.docxannetnash8266
Write
a 350- to 700-word paper in which you do the following:
Explain what database systems are and how they are used.
Define database architecture. Consider Microsoft
®
Access
®
, Microsoft
®
SQL Server
®
, Oracle
®
, and IBM DB2
®
software as possible examples.
Summarize your paper by describing the database systems in your workplace, identifying which database systems and architecture they fall under.
Include
2 to 4 references.
Format
your paper consistent with APA guidelines.
.
Write a 350- to 700- word response to the following questionsHo.docxannetnash8266
Write
a 350- to 700- word response to the following questions:
How did psychology evolve into a science?
What are some psychological perspectives that explain human behavior?
A long-standing debate in the field of psychology is the degree to which nature and nurture shape human behaviors and traits. How would you describe the interaction between genetic potential, environmental influences, and personal choice?
Format
your response consistent with APA guidelines.
Click
the Assignment Files tab to submit your assignment.
AND
Write
a 500- to 1000-word essay contrasting the roles of the temporal and frontal lobes on behavior. Include the types of behaviors for which each lobe is responsible, as well as the effects of heredity on the development of these behaviors. Additionally, include what may happen if there is damage to these lobes, including Broca's and Wernicke's aphasias.
Format
your essay consistent with APA guidelines.
Click
the Assignment Files tab to submit your assignment.
.
Write a 1,400- to 1,750 word APA format paper regarding a so.docxannetnash8266
Write
a 1,400- to 1,750 word
APA format paper
regarding a social networking interview.
Identify
whom you interviewed, their title, and years of working experience in the area of Operations Management.
Provide
insights into your subject's role and why Operations Management is vital to his/her organization.
Provide
the reason for selecting the individual you chose to interview.
List
the questions you asked.
Include
a summary of the organization.
Give
a summary of what you learned as a result of this interview.
Provide
a reflection of what is important about this assignment.
Discuss
any follow-up activities the person you interviewed suggested.
Provide
at least two peer reviewed academic references. Make sure that the in-text citations matched the reference list.
Format
your paper consistent with APA guidelines.
IMPORTANT:
Make sure to review your assignment submission for content similarity on Safe Assign before submission. Assignment is preferred to have no more than 10% content similarity.
.
Write a 350- to 500-word summary in which you answer the following.docxannetnash8266
Write
a 350- to 500-word summary in which you answer the following questions:
What were the major developments in the evolution of mass media during the last century?
How did each development influence American culture?
What is meant by the term
media convergence
, and how has it affected everyday life?
700 word max.
.
Write a 300- to 350-word response to the followingWhen thinki.docxannetnash8266
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a 300- to 350-word response to the following:
When thinking about all the types of diversity that can exist within a group, what is the most important thing for group members to keep in mind when interacting with each other? Explain.
APA format
Include 2 references
.
WRITE A 2-page paper on the following questions. Your answers must.docxannetnash8266
WRITE
A 2-page paper on the following questions. Your answers must be written in paragraph style after each question.
1. What personal interests do you have in regard to the field of social work?
2. What are your personal values? List three or more
3. How do your identified values influence what you believe about how people should be served?
4. What do you think you will be doing in 7 years?
5. What are the values/interests/beliefs of your selected state representative or state senator (name them and cite their website) and how are they reflected in the policies of your state? Give concrete examples of your state policy.
.
Write a 1- to 2-page report for the Director of IT describing .docxannetnash8266
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a 1- to 2-page report for the Director of IT describing the requirements you are considering as your team implements the wireless network. Include the following:
Design requirements that must be addressed
Justification to use different frequencies, channels, and antennae in the installation
Regulatory requirements to consider in implementation
Security requirements
Create
a 1/2- to 1-page table for your team. In the table, summarize possible frequency choices, including an explanation of the strength and weakness of each.
No plagiarism please use attached files for the scenario!!!!
.
Write a 1,400- to 2,100-word paper in which you assess criminal ju.docxannetnash8266
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a 1,400- to 2,100-word paper in which you assess criminal justice from a global perspective. In your paper be sure to analyze the following:
Assess the impact of globalization on the U.S. criminal justice system.
Compare and contrast international criminal justice systems (Civil Law, Common law, and Islamic Law and Socialist Law traditions).
Discuss the impact that cyber crime and technology have had on worldwide justice systems.
Differentiate the policing systems on a worldwide scale.
Identify major crimes and criminal issues that have a global impact on justice systems and processes (e.g., Somalia, Rwanda, Bosnia, Darfur, Congo, etc.).
Include
at least four peer reviewed references.
Format
your paper according to APA guidelines.
Submit
your assignment.
.
Write a 1,750-word paper that includes the following(UNITED.docxannetnash8266
Write
a 1,750-word paper that includes the following:
(UNITED STATES COAST GUARD)
The organizational overview.
Prioritized assessment of the strengths, weaknesses, threats and vulnerabilities of your selected organization's security system(s), including facilities, people, information systems, and other appropriate assets.
The influence of crime and criminology in your assessment, as well as applicable national and global issues.
Format
your assignment consistent with APA guidelines.
ATTACH TURN IT IN REPORT
.
Write a 1.400 to 1,700 word essay that summarizes your Week 4 .docxannetnash8266
Write
a 1.400 to 1,700 word essay that summarizes your Week 4 presentation and additionally includes the following:
Summary of each of the following from your Week 4 presentation:
What are cultural groups?
How can you work toward more effective intercultural communication?
How is globalization challenging traditional hierarchies of culture?
What are co-cultural groups?
What are the five belief domains and how do they influence intercultural communication? (Refer to Ch. 9)
Summary of the following Week 5 concepts:
Positive and negative examples of how the media acts as a cultural socialization agent
Discussion of one media theory as it relates to how you interact with mass media
How to develop media literacy
How technology has fostered global intercultural communication
The challenges and opportunities within intercultural communication for women and minority success in the future
.
Write a 1,400- to 1,750-word paper highlighting considerations for.docxannetnash8266
Write
a 1,400- to 1,750-word paper highlighting considerations for creating a security budget.
Include
the following:
Identify the key player involved in creating the budget.
Discuss liabilities a budget can create for an organization.
Consider how these liabilities can be addressed.
Determine the need for executive protection using a cost-benefit analysis.
Also Include
a
Created Tree Graph outlining the steps that make up the budgeting process.
Format
your assignment consistent with APA guidelines.
.
Write a 1,050-word minimum strategic implementation plan in wh.docxannetnash8266
Write
a 1,050-word minimum strategic implementation plan in which you include the following:
Create an implementation plan including:
Objectives
Functional tactics
Action items
Milestones and deadlines
Tasks and task ownership
Resource allocation
Recommend any organizational change management strategies that may enhance successful implementation.
Develop key success factors, budget, and forecasted financials, including a break-even chart.
Create a risk management plan including contingency plans for the identified risks.
Format
your paper according to APA guidelines.
.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
ACC604 COURSE PROJECTBUSINESS PLAN FINANCIAL PROJECTIONS rev..docx
1. ACC604 COURSE PROJECTBUSINESS PLAN: FINANCIAL
PROJECTIONS
rev. 9-2009 by D. Schwartz
Objectives of the Project
This project is designed to provide students with the
opportunity to gather and analyze the data needed to prepare the
financial section of a business plan, and to synthesize the data
into the form of a written report accompanied by projected
income statements, cash flow statements, and balance sheets for
the first two years of a four-year business plan.
The Purpose of Your Business Plan
Business plans are developed for various purposes, such as
providing potential investors or lenders with a credible
projection of revenue, profit, and capital requirements. The
failure rate for small businesses is extremely high, often
because the entrepreneur underestimated the amount of capital
that would be required. The question to be answered by this
business plan project: “How much capital (cash) will I need to
invest, and when (in what months) will it be needed?” The
answer will appear on the Cash Flow Statement in the form of
any negative ending cash balance that results after all data other
than owner investment has been entered.
The Business
You have spent the last 15 years in a high-paying but stressful
job in a technology company, and have now decided to start a
business of your own. Being an excellent cook, your plan is to
open a specialty restaurant in an upscale suburban shopping
2. mall. (You may select any nationality cuisine or other specialty
you wish.) Your restaurant will serve lunch and dinner during
the hours 11:00 a.m. to 9:00 p.m., seven days a week. Revenue
is expected to average $10 per lunch patron, and $20 per dinner
patron. Though you plan to do some advertising, you are
counting on word-of-mouth recommendation by very satisfied
customers as the primary source of your clientele. Your
restaurant will accept cash or major credit card only, no checks
or charge accounts.
You have found available restaurant space in a suitable location
that you can lease for a term of 5 years at a monthly rental of
$2,000 plus 3% of gross revenue. There is space for 10 tables
seating four persons each, and an additional 10 tables seating
two persons. You estimate that kitchen equipment, tables,
chairs, and table settings will cost $60,000 to be financed by
$12,000 in down payment and a $48,000 bank loan at 10%
interest, the principal to be repaid in 48 monthly installments.
Redecorating and remodeling is expected to cost $40,000, with
another $10,000 for sales registers, computer system, and office
equipment – all to be paid for in cash. An additional $10,000 in
leasehold improvements and $5,000 in office equipment is
anticipated for the second year of operation. For the purpose of
calculating depreciation expense, you estimate that all
equipment and furniture will have a useful life of 5 years which
equates to a 20% annual straight-line depreciation rate.
Your savings are primarily in tax deferred retirement accounts,
and cannot be used to start a new business. However, you have
sufficient equity in your home to obtain a line-of-credit loan of
up to $125,000 at 8% interest, and will draw against the line as
additional cash investment is needed by the business. (Being a
personal loan, it will not appear on the books of the business.)
Eventually, the business will apply for an unsecured line of
credit loan of its own, but at least two years of successful
operations are required in order to qualify.
3. You will be managing the operation and also doing most of the
gourmet cooking during the first several months. Though you
will not be on the payroll as a salaried employee, you do plan to
draw $4,000 a month for personal living expenses. (It is
suggested that one-half this amount be treated as “Officers
Salaries” to be entered on the Income Statement, and the other
half as “Payroll Expense” to be entered as a “cook” on the
Payroll schedule.)
The company will elect to file federal and state income taxes as
an “S Corporation” to achieve limited liability protection and
pass-through income tax treatment. As such, the corporation
will pay no income tax. Instead, stockholders report their share
of any profit or loss on their individual income tax returns.
Assume the cost to set up the corporation will be $1,000 in
attorney’s fees and $800 in California state franchise tax. The
corporation will continue to pay a minimum franchise tax of
$800 each year thereafter.
Payrolls will be prepared semi-monthly by Paychex, a payroll
service, at an estimated monthly fee of $200, which covers
quarterly and year-end federal and state tax returns, W-2’s and
1099’s. Other check disbursements and daily deposits will be
recorded weekly in Peachtree computer accounting software by
your niece who recently received an “A-“ in her high school
accounting course. She will be paid $100 per month. Near the
end of the 12th month of each year, a CPA will make any
necessary adjustments to the computer figures, and compile
year-end financial statements and prepare federal and state tax
returns for an estimated yearly fee of $2,000.
REQUIRED
4. USING THE EXCEL TEMPLATE
Download the Excel file called Bplan Financials.Copythe file
under a new name that contains your last name, and use the
copy to complete your projected financial statements. Carefully
review the instructions in the worksheet called “Readme”. This
Excel template contains sample data for a widget wholesaler. Be
sure youdelete and/or replace all of the sample data with your
own data. Also be sure to back up your file after each work
session.
The following suggestions are intended to supplement the
instructions in the “Readme” worksheet with particular regard
to a business plan for a startup restaurant.
· Assumptions
The average inventory turnover ratio for a particular industry
can be found at http://moneycentral.msn.com. (See
Moneycentral.com, above, for instructions on the use of this
website.)
· Meals projections
Assume you have two “products” to sell, luncheon meals and
dinner meals. The anticipated average bill (before sales tax) is
indicated in the fact situation, above. It is suggested that you
use as a practical capacity two seatings at each table during the
lunch hours, and three seatings during the evening dinner hours.
Use the blank worksheet in the Excel template called “Meals” to
show your calculation of the number of lunch meals and dinner
meals for the first month of operations. When estimating the
number of meals that will be served in each of the first twelve
months, start with a low percentage of practical capacity (say
5. about 25%) for the first month of operation, and gradually build
to a moderate percentage of capacity (say about 50%) by the
12th month. Reflect the increasing number of lunch and dinner
meals for each of the twelve months of the first year in the
worksheet called “Sales”. Do not show dollar amounts on the
Meals worksheet; the dollar amounts will appear automatically
when the number of meals is entered in the “Sales” worksheet.
The second year’s sales might be projected to be 10% to 15%
greater than sales in December of the first year, multiplied by
12.
Checkpoint: Sales figures should be growing each month to
about $65,000 to $75,000 in December which equates to about
$600,000 to $700,000 for the first year, and $900,000 to
$1,100,000 in the second year
· Cost of Goods Sold (Cost of Food and Beverage Sales)
Use the same cost of goods sold percentage for both products.
One source for the industry average for full-service restaurants
is the National Restaurant Association (see table on page 6).
Also shown are percentage norms for Salary and Wages and
some other major categories of expense.
· Inventory of Food and Beverage (for balance sheet)
One of the assumptions called for on the “Assumptions”
worksheet is the inventory turnover ratio which is the basis for
calculating the amount of inventory needed tgo be kept on hand.
The formula for inventory turnover ratio is as follows:
Ratio = Cost of Goods Sold Example: $450,000 =
4.5
Inventory $100,000
Therefore, to solve for the Inventory amount when the ratio and
the Cost of Goods Sold is known:
6. Inventory = Cost of Goods Sold = $450,000 = $100,000
Ratio 4.5
Note, however, that you estimate the need for a minimum
inventory of $5,000 at all times.
· Payroll Expense (cooks, hostess, servers, busboys, etc.)
Use the Payroll worksheet for payroll other than Officers
Salaries. When estimating the number of employees in each
category, consider the number of hours per week that your
restaurant will be open for business, not including daily set up
and clean-up time. For approximate hourly wage rates of each
category, research the hourly rates in your area.
To estimate the number of servers needed, use as a rule-of-
thumb the equivalent of one full-time server for every 30 meals
or fraction thereof served each day.
Use the Income Statement account “Officers salaries” for the
salary of owner/managers. In the case of a manager who
performs both management and non-managerial functions (e.g.
maitre d’ or chef), it is suggested that the salary be split
between “Officers Salaries” and “Other Payroll” by including
the latter on the Payroll worksheet.
Checkpoint: check the reasonableness of your total payroll
figures by comparing the National Restaurant Association’s
percentage for Salaries and Wages with the sum of your second
year’s Officers Salaries plus Other Payroll expense percentages.
(The first year of a startup business is not representative.)
· Advertising Expense
It is suggested that you use a fixed monthly amount for
newspaper advertising that approximates 3% of the projected
7. sales revenue for the 12th month (December) of the first year.
For the second year, project a 15% increase over the 12th month
of the first year, multiplied by 12.
· Depreciation Expense and Accumulated Depreciation on the
balance sheet
Depreciation is calculated by the Excel template using the
straight-line rate shown on the Assumptions worksheet.
· Rent Expense (Occupancy Cost)
Refer to information provided in the fact situation on the first
page of these project instructions.
· Interest Expense
Interest expense is calculated by the Excel program. It
automatically applies 1/12th of the annual rate indicated in the
Assumptions worksheet to the loan balance at a given month-
end. (Loan amortization schedules are not used.) However, there
is no automatic calculation of payments on principal, so in the
case of installment loans, it is necessary to divide the original
loan balance by the number of months in the term of the loan,
and enter the monthly payments as a negative figure on the Cash
Flow Statement.
· Remaining operating expenses
For Insurance, Supplies, Repair and Maintenance, Utilities and
other expenses:
To earn maximum point credit for this project, speak with the
owner of a local restaurant that is about the size of the
restaurant you are planning. Explain that you are a National
University student and have been assigned this project for your
MBA accounting class, and show him/her your assignment. For
the second year, project a 15% increase over the 12th month of
the first year, multiplied by 12.
[Do NOT add or delete any rows on this or any other exhibit.]
Checkpoint: If after completing your income statement your 2nd
8. year profit (income before taxes) is more than 10% of Sales,
replace the amount for Other Expenses in both years so as to
reduce the 2nd year profit to between 5 and 10%.
· Cash used for Investing Activities (Cash Flow statement)Use
the Cash Flows statement to enter the purchase of capital assets
for cash: replace the three existing titles in the yellow cells with
“Kitchen equipment”, “Leasehold improvements”, and “Office
equipment”, and enter the cost of each as a negative amount
since these investments result in negative cash flows.
· Capital from Financing Activities
1. Long-term and/or short-term borrowing (Cash Flow
statement)Enter cash proceeds from borrowing, such as a bank
loan, as positive figures (positive cash flow), and loan
repayments as negative figures (negative cash flows).
2. Capital paid in by owners(Cash Flow statement)
These are the very last figures to be entered, because you
cannot know how much investor cash will be needed until all
other positive and negative cash flows have been projected.
Enter the amount of cash needed to provide a minimum cash
balance each month of about $10,000, but not more than
$35,000 at the end ofany period, including the second year. Use
any excess cash to pay off loans early. If there is still an excess,
withdraw some of the capital that was paid in by the investors,
and/or increase your salary (Officers Salaries).which will
increase your W-2 income and thereby increase your Social
Security tax and account balance.
3.
WE NEED TO USE THE EXCELL SHEET. NO ESSAY.. JUST
THE EXCELL SHEET
9. 7
BPlan_Financials_template_-_Sep_20092.xlsx
AAN EXCEL TEMPLATEFOR BUSINESS PLAN FINANCIAL
DATAFIRST TWO YEARS(CONTAINS SAMPLE
DATA)September 2009DONALD A. SCHWARTZ, J. D., CPA
ReadMeOVERVIEW(see Intructions below)This financial model
enables the user to enter projected sales and cost of sales,
operating expenses,and anticipated capital expenditures for
fixed assets. If accounts receivable and/or inventory
areinvolved, the program automatically calculates the amounts
based upon user-anticipated turnoverrates. Depreciation expense
is calculated on the basis of a user-designated annual rate. From
this information, the program produces an income statement and
a preliminary cash flow state-ment showing the end-of-period
cash balance. For any period in which the resulting cash balance
isnegative, the user must enter sufficient inflow of cash from
shareholders and/or from lenders to resultin a positive cash
balance. A user-anticipated interest rate is automatically applied
to resulting loanbalances and the income statement is revised
accordingly. The balance sheet is then completedautomatically
by the program. Financial statement ratios and graphs of key
financial data are alsoproduced automatically. However, the
user must research industry ratio averages to compare with
theprojected ratios, and be prepared to explain any significant
differences.The first year is projected on a monthly basis.
Subsequent years are often projected on an annual
basis.INSTRUCTIONSFOR COMPLETING PROJECTED
FINANCIAL STATEMENTSSteps:1Copy this file under a
different file name, such as "Bplan [your last name], and use the
10. copy. Do notmake changes to this original. 2Input data should
be entered only in cells with yellow backgrounds (like this one).
Numbers and text that are in black are the result of formulas.
Do NOT enter data in these cellsunless otherwise instructed. Do
NOT add or delete rows or columns.Note: this version of the
program contains sample data (blue numbers in yellow cells) in
mostof the worksheets, including those that may not be
applicable to your particular business: Be sure to delete or
change to "0" all such sample data on each and every worksheet
before com-pleting (or bypassing) that worksheet.
Don Schwartz: Instructions contained in a "comment box" such
as this appear only on the screen. They will not print, nor will
they appear on worksheets that have been copied/pasted (as a
table) into a Word document.
3Starting with the "Assumptions" worksheet, complete each
worksheet in the order it appears.(see instructions for each
worksheet below)However, when assembling the business plan,
rearrange the worksheets into Exhibit andSchedule number
order, for example: A, A-1, B, B-1, B-2, ... 4The graphs (bar
charts) which summarize key financial projections should be
individually copiedand pasted in the introductory "Financial
Objectives" section of the Word document by using
PasteSpecial, Paste (not Paste Link) As: Microsoft Excel Chart
Object. (See instructions under "Graphs"tab)Navigation:There
are four scroll arrows at the bottom left corner of the worksheet.
To scroll the tabs to theright one tab at a time, click on the first
right arrow. To skip directly to the last tab, click on the
rightarrow with the vertical line.Caution:Before copying all or
part of a worksheet or importing it into another Excel file, first
save the entirefile under a new name. Copy the desired range
and then, without moving the cursor, use PasteSpecial to paste
Values only, NOT formulas. This converts formulas to values so
they can be copiedsafely."Exhibits"To be used as a cover page
which lists the projected financial statement exhibits and
schedules that follow. In the "Cross-reference page number"
11. column, enter the page number(s) of the narrative sectionof the
business plan that explains how the projected figures in this
schedule were arrived at. This isespecially important for
projected sales, cost of goods or services, payroll expense and
other majorexpenses on the Income Statement, and for capital
expenditures on the Cash Flows statement."Assumptions"
worksheetAccounts payableIt is assumed that the Cost of Goods
Sold and operating expenses are paid in the month followingthe
month in which they are incurred, except rent and payroll-
related expenses which are paid . in the same month.
Depreciation expense which requires no cash outlay is also an
exception.Depreciation rateFor simplicity, it is assumed that all
depreciable assets have the same estimated useful life
(annualrate). Use whatever rate (e.g. 20%) that is appropriate
for the type of asset which has the largestmonetary
value.Product/Service namesIf there are several major products
or services, list each of these (5 maximum) separately. All
othersshould be aggregated in a single "catchall" category. If
categorization is not practical, then enter atleast one category
with a name such as "All products".Unit pricesIf it is practical
to set an average unit price for each product category (or hourly
billing rate in thecase of hourly services), then enter such
price(s) or rate(s). They will later be multiplied times
theprojected number of units to be sold (or hours billed). If this
is not practical, then be sure to replaceany sample figures with
zeros.Sales Forecast - 1st Year of business planIf it is practical
to project the number of units (or billable hours) that will be
sold in each product category,then enter that number. That
number of units will be multiplied times the unit price entered
under "UnitPrices" to arrive at Total Sales amounts for each
product. If it is not practical to project the number of unitsto be
sold, then manually enter the "Total Sales" figure for each
month at the bottom of this schedule. "Costing" of goods or
services soldThis schedule is designed to arrive at a projected
cost of goods or services sold and resulting Gross Profitfor
companies that sell merchandise. However, it should also be
12. used by service companies that bill on aper hour or per project
basis and can estimate the direct labor and material cost per
billable hour or peraverage project unit.If this schedule is NOT
USED, be sure to delete any blue sample figures in yellow
cells.For those companies for which "Cost of goods sold" (or
"Cost of services sold") is practical and appro- priate, the
system provides two alternatives: Unit Costing If it is practical
to estimate the average cost of each unit of product or service,
product category,then enter such unit costs. Enter variable costs
only. All fixed costs are to be entered asOperating Expenses on
the Income Statement. If it is NOT practical to apply unit
costing, thenconsider the alternative "Achievable Gross Margin
%", below.Service companies that bill customers on a per hour
or per project basis should enter theirdirect labor/materials cost
as the "unit cost" to be multiplied times the projected billable
hoursor project units that have been entered in the Sales
Forecast schedule. Any labor cost which isentered here and also
in the Payroll - 1st year schedule must be subtracted out on line
"D" ofthat schedule (see "Payroll - 1st Year of business plan",
below).in order to avoid duplication.Achievable Gross Profit
Margin %If the company sells merchandise but it is not
practical to determine a unit cost for each productcategory, then
enter a gross profit margin % that is reasonably achievable (i.e.,
customers will paythe resulting mark-up.) For guidance as to
what is reasonable, refer to the average gross profit % foryour
industry, per http://moneycentral.msn.com or similar financial
website.Cost of Sales (Goods or Services Sold) - 1st year of
business planThis schedule requires no data entry. Its purpose is
to provide audit trail, only.Payroll - 1st year of business
planThe payroll for all salaried and hourly employees (except
officers and owner/managers) should beentered on this
schedule, including any direct labor involved with
manufacturing, construction, or service.Do NOT include
independent contractors, commission agents and the like.If any
employee payroll cost has been included in the "Costing"
schedule (see above), it must besubtracted on line "D" of this
13. schedule to avoid duplication.Totals from this schedule are
automatically carried into the Income Statement under "Other
Payroll".Salary of Owner/ManagersThe salaries of officers and
owner/managers should be entered directly onto the Income
Statement as"Officers Salaries". See Income Statement - 1st
year of business plan" below.)If an owner/manager spends 25%
or more of his/her time directly on the company's product
orservice, It is suggested that an appropriate portion of his/her
salary be included on the Payrollschedule, and the rest as
Officers Salaries on the Income Statement.Even if an
owner/manager will not be on the payroll, it is suggested that a
reasonable monthlycompensation figure be entered so as to
reflect the true costs of doing business. Advertising and
Promotion - 1st year of business planThis schedule must be used
to enter any advertising and promotional expense: Totals from
this scheduleare automatically used on the Income Statement. A
detailed explanation of these planned expensesshould be
contained in the Marketing Plan section of the business
plan.Income Statement (two years) First yearEnter estimated
expenses in yellow cells only. Other cells contain formulas and
should be left intact.Blue titles in yellow cells may be changed.
However, do NOT change any of the black titles in whitecells
unless otherwise instructed.It is suggested that "Officers
Salaries" be used to reflect actual salaries to be paid
owner/managers, orin the case of a proprietorship or
partnership, anticipated living expense withdrawals in lieu of
salaries.Note that income tax is calculated only in the case of
profits. The income tax on losses is assumed tobe "0" rather
than negative.Breakeven sales figures are calculated by dividing
total fixed expense (Total Operating Expense plusInterest
Expense) by the Contribution Margin Ratio (Sales minus
variable Cost of Sales divided by Sales). In this case, the
Contribution Margin Ratio is the same as the Gross Profit %.
Second YearProjected Sales and Operating Expense figures for
the second year should be entered directly on this exhibit,
though some of the expenses such as depreciation and interest
14. expense arecalculated automatically. You may want to use the
"12 times the last month of the first year" asan annual base
figure, and multiply this base times 1 + a reasonable percentage
of increase;e.g. 1.1 = 10% increase..Cost of Goods Sold
amounts for the second year can be calculated by multiplying
the Sales figure bythe Cost of Sales (Cost of Goods Sold)
percentage (%) for the last month of the first year. That
percentage is the complement of the Gross Profit % ( "1" minus
the Gross Profit%). (See IncomeStatement sample
amounts).Whatever approaches have been used to project Sales,
Cost of Sales, and Operating Expenses, they should be
explained in the business plan narrative.Cash Flow (two
years)Cash used for investment A maximum of three fixed asset
categories may be used. The three sample names in the
yellowcells may be replaced with any desired category names.
These names will appear on the balancesheets automatically.
Enter as a NEGATIVE amount under "Cash used for capital
assets" the cost ofequipment and other depreciable assets
needed, including any capital leases. (Monthly paymentson
leases of two years or less should be treated as Lease Expense
on the Income Statement ratherthan "Capital Assets" on the
Cash Flows statement.) If any fixed assets are donated by
owners, treatsuch assets as having been purchased for cash (use
a realistic market value), and enter acorresponding amount of
capital paid-in by owners under "Cash from financing
activities".Cash from financing activitiesEnter as POSITIVE
amounts any planned contribution of equity capital by owners,
and anticipatedborrowing. Line-of-credit loans are short-term
liabilities. Enter repayments as negative figures.Then look at
the "Cash - Ending Balance" for each month:If any are negative,
it will be necessary to enter additional paid-in capital or
borrowing inamounts sufficient to produce positive Ending
balances of cash. Negative cash balancesare not valid. (If no
additional equity capital or borrowing is available, then the
company may be insolvent and beforced to terminate operations
and liquidate its assets.)Too much cash?Note that If ending cash
15. balance is substantially more than monthly operating expenses,
it maybe unrealistically high, or expenses may be unrealistically
low.Balance Sheet (two years)All figures are calculated
automatically (The "BS Formulas" worksheet shows the
formulas that areused). Make sure every period is in balance
!Ratios (see Ratios tab)Financial Statement ratios for the
subject company are automatically calculated by formula. When
copying ratio figures, be sure to use "Paste Special" to paste
"Values" rather than formulas.Industryaverages for the related
industry can be obtained from websites such as
http://moneycentral.msn.com. Show the industry classification
(e.g., "Retail-Sporting Goods") fromwhich the ratios were
drawn. Review all of your ratios, and make sure they make
sense! Graphs (charts)Figures for the sample graphs are
automatically calculated by formula. You may wish to add
othercharts of your own design. They are NOT intended to be
part of the financial exhibits: they should beindividually
copied/pasted into appropriate sections of your business plan
document. Whencopying a chart into a Word document, follow
the instructions shown in this "Graphs" worksheet.
Assumptions
Don Schwartz: Enter ONLY in yellow cells
NAME OF COMPANY: Sample CompanyFINANCIAL
ASSUMPTIONSUNITPRODUCT/SERVICE
NAMESPRICESSales commission rate (if applicable)5% [if
none, enter 0]At least 1, maximum 6if applicable*1Midget
Widgets$1.00Payroll taxes: % of gross wages
(approx.)12%2Giant Widgets$200.00Employee benefits: % of
gross wages5%34Interest rate - short term (line of
credit)9%5Interest rate - long term, secured 7%6* See ReadMe
tab, "Unit prices"Accounts payable - one month's cost of goods
sold and most operating expensesDepreciation rate - straight
line 20% [Use life of major asset. Enter as a percentage; e.g. 5
years = .20]Accounts receivable turnover6.0 [If more than 50%
of Total Sales is for cash or credit card, enter "0"]6.0
16. NU: This is a formula. Do not enter anything in this cell.
Inventory turnover ratio4.1 [If less than 50% of revenue is
from sale of merchandise, enter "0"]4.1
NU: This is a formula. Do not enter anything in this cell.
.
Minimum base inventory needed for startup5,000Income tax
rate (federal and state, approx.)25% [If company is not a "C"
Corporation, enter "0"]
MealsUse this worksheet to show your calculation of the
number of lunch meals and dinner meals projected for the first
month of operation, based on the facts and assumptions
provided. Upon completion, enter the number of lunch meals
and dinner meals in the Sales worksheet.
SalesSchedule B-2Sample CompanySALES FORECAST -
FIRST YEARJan
Don Schwartz: Enter ONLY in yellow cells
Ok to change months on this schedule, onlyFebMarAprMayJun
JulAugSepOctNovDecYear 1TotalUnit SalesMidget
Widgets1002003004005007001,0001,5002,0003,0004,0005,0001
8,700Giant Widgets246101420253040506070331--------Unit
Prices [from "Assumptions"]Midget
Widgets$1.001.001.001.001.001.001.001.001.001.001.001.00-
Giant
Widgets200.00200.00200.00200.00200.00200.00200.00200.002
00.00200.00200.00200.00--
0.000.000.000.000.000.000.000.000.000.000.000.00--
0.000.000.000.000.000.000.000.000.000.000.000.00--
0.000.000.000.000.000.000.000.000.000.000.000.00--
0.000.000.000.000.000.000.000.000.000.000.000.00-Total Sales
Midget Widgets100
Don Schwartz: Enter projected Total Sales below ONLY if Unit
Prices above are zero
17. 2003004005007001,0001,5002,0003,0004,0005,000$
18,700Giant
Widgets4008001,2002,0002,8004,0005,0006,0008,00010,00012,
00014,00066,200-000000000000--000000000000--
000000000000--000000000000-
Totals5001,0001,5002,4003,3004,7006,0007,50010,00013,0001
6,00019,000$84,900
CostingSchedule B-4Sample CompanyCOSTING OF GOODS
OR SERVICES
Don Schwartz: Enter ONLY in yellow cells
Midget WidgetsGiant Widgets----Unit Price [from
"Assumptions"]$1.00$200.00$0.00$0.00$0.00$0.00Unit Costs,
if applicable (if not applicable, use the alternative "Achievable
Gross Profit Margin%, below)
Don Schwartz: For manufactured goods or services, list variable
direct labor and material costs only, no fixed costsCost of goods
purchased 0.30130.00Total variable cost per
unit$0.30$130.00$0.00$0.00$0.00$0.00Gross profit per
unit$0.70$70.00$0.00$0.00$0.00$0.00Gross profit margin
%70.0%35.0%0.0%0.0%0.0%0.0%Achievable Gross Profit
Margin %
Don Schwartz: If Unit Costing (above) is not applicable, enter
achievable Gross Profit Margin % below (see ReadMe under
"Costing"
CoGSSchedule B-3Sample CompanyCOST OF
GOODS/SERVICES
Don Schwartz: All figures are automatically calculated
JanFebMarAprMayJun JulAugSepOctNovDecYear 1TotalUnit
Sales [from Sales Forecast Sched B-2]Midget
Widgets1002003004005007001000150020003000400050001870
0Giant Widgets246101420253040506070331-0000000000000-
18. 0000000000000-0000000000000-0000000000000Unit Cost
[from Costing Sched B-4]Midget
Widgets$0.30$0.30$0.30$0.30$0.30$0.30$0.30$0.30$0.30$0.30
$0.30$0.30$0.30Giant
Widgets130.00130.00130.00130.00130.00130.00130.00130.001
30.00130.00130.00130.00130.00-
0.000.000.000.000.000.000.000.000.000.000.000.000.00-
0.000.000.000.000.000.000.000.000.000.000.000.000.00-
0.000.000.000.000.000.000.000.000.000.000.000.000.00-
0.000.000.000.000.000.000.000.000.000.000.000.000.00Total
Cost [calculated] Midget
Widgets3060901201502103004506009001,2001,500$5,610Giant
Widgets2605207801,3001,8202,6003,2503,9005,2006,5007,800
9,10043,030-0000000000000-0000000000000-0000000000000-
0000000000000Totals2905808701420197028103550435058007
400900010600$48,640
PayrollSchedule B-5Sample CompanyPROJECTED PAYROLL -
FIRST YEAR
Don Schwartz: Enter ONLY in yellow cells
JanFebMarAprMayJun JulAugSepOctNovDecTotalA - Number
of persons in each category (excluding Officers Salaries to be
entered on Income Statement) Use ".5" for each part-time
person
Don Schwartz: Note: If any of these employees are included as
direct labor in the "Costing" schedule, subtract that amount on
line "D", below.
Office staff0.50.51.01.01.01.01.01.01.01.01.01.0Sales
person1.01.01.01.01.01.01.0Category CCategory DCategory
ECategory FB - Average monthly gross pay per full-time (or
equivalent part-time) person, based on hourly wage rates in
your area for each category Office
staff1,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,00
01,000Sales
person1,0001,0001,0001,0001,0001,0001,000Category
19. CCategory DCategory ECategory FC - Total (A times B)Office
staff5005001,0001,0001,0001,0001,0001,0001,0001,0001,0001,
000$11,000Sales
person000001,0001,0001,0001,0001,0001,0001,0007,000Catego
ry C0000000000000Category D0000000000000Category
E0000000000000Category
F00000000000005005001,0001,0001,0002,0002,0002,0002,0002
,0002,0002,000$18,000D - Less: any direct labor cost already
included on the "Costing" Schedule B-4 (use Minus
sign)000000000000Total "Other Payroll", to Income
Statement):5005001,0001,0001,0002,0002,0002,0002,0002,0002
,0002,000
AdverSchedule B-6Sample CompanyPROJECTED
ADVERTISING AND PROMOTION - FIRST YEAR
Don Schwartz: Enter ONLY in yellow cells
JanFebMarAprMayJun JulAugSepOctNovDecYear
1TotalNewspaper3,0002,0002,0001,0001,0001,00050050050050
050050013,000Radio3,0002,0002,0007,000TV0Trade
shows1,0001,000Other0Other0Other0Totals$6,000$4,000$5,000
$1,000$1,000$1,000$500$500$500$500$500$500$21,000
IncStateSchedule B-1Sample CompanyPROJECTED INCOME
STATEMENT - YEARS 1 AND 2
Don Schwartz: Enter ONLY in yellow cells
Do NOT replace figures in white
cellsTotalJanFebMarAprMayJun JulAugSepOctNovDec1st
Year2nd YearSales (per Sched. B-
2)5001,0001,5002,4003,3004,7006,0007,50010,00013,00016,00
019,00084,900275,000100.0%Cost of sales (Sched. B-
3)2905808701,4201,9702,8103,5504,3505,8007,4009,00010,600
48,640153,421
NU: Represents December's Cost of Sales % (100% minus Gross
Profit %) times Sales 55.8%Gross
Profit2104206309801,3301,8902,4503,1504,2005,6007,0008,40
20. 036,260121,57944.2%Gross Profit
%42.0%42.0%42.0%40.8%40.3%40.2%40.8%42.0%42.0%43.1%
43.8%44.2%42.7%44.2%Operating expenses:Officers
salaries5005005005005005005005005005005005006,0009,5003.
5%Other payroll (Sched. B-
5)5005001,0001,0001,0002,0002,0002,0002,0002,0002,0002,00
018,00022,0008.0%Payroll
taxes12%1201201801801803003003003003003003002,8803,780
1.4%Employee
benefits5%50507575751251251251251251251251,2001,5750.6
%Advertising (Sched. B-
6)6,0004,0005,0001,0001,0001,00050050050050050050021,000
7,5002.7%Commissions5%255075120165235300375500650800
9504,24513,7505.0%Depreciation7507507507507507507507507
507507507509,00011,0004.0%Insurance -
liability1501501501501501501501501501501501501,8002,2000
.8%Insurance - casualty
2002002002002002002002002002002002002,4003,0001.1%Leg
al and
accounting1001001001001001001001001001001001001,2001,30
00.5%Rent1,0005005005005005005005005005005005006,5008,
0502.9%Supplies2002002002002002002002002002002002002,4
002,8001.0%Telephone150150150150150150150150150150150
1501,8002,3000.8%Utilities400400400400400400400400400400
4004004,8006,2002.3%Other
000000000000000.0%Other000000000000000.0%Total
operating
expenses10,1457,6709,2805,3255,3706,6106,1756,2506,3756,52
56,6756,82583,22594,95534.5%Profit before interest and
taxes(9,935)(7,250)(8,650)(4,345)(4,040)(4,720)(3,725)(3,100)(
2,175)(925)3251,575(46,965)26,624Less: Interest
expense(175)(175)(175)(175)(175)(175)(175)(175)(175)(175)(1
75)(175)(2,100)(3,000)1.1%Profit before
taxes(10,110)(7,425)(8,825)(4,520)(4,215)(4,895)(3,900)(3,275)
(2,350)(1,100)1501,400(49,065)23,6248.6%Less: income
taxes25%005,906Net
21. profit(10,110)(7,425)(8,825)(4,520)(4,215)(4,895)(3,900)(3,275
)(2,350)(1,100)1501,400(49,065)17,718Net profit %----------
0.9%7.4%-6.4%
Don Schwartz: Projected profit margins in excess of 10% after
taxes could be unrealistically high
NU: Represents December's Cost of Sales % (100% minus Gross
Profit %) times Sales Sales required to break even (Operating
expenses + Interest expense are assumed to be fixed; Cost of
sales is assumed variable)??
Cash FlowSchedule C-1Sample CompanyPROJECTED CASH
FLOWS - YEARS 1 AND 2
Don Schwartz: Enter ONLY in yellow cells
TotalJanFebMarAprMayJun JulAugSepOctNovDec1st Year2nd
YearNet profit [per Income
Statement](10,110)(7,425)(8,825)(4,520)(4,215)(4,895)(3,900)(
3,275)(2,350)(1,100)1501,400(49,065)17,718Add:Depreciation7
507507507507507507507507507507507509,00011,000Less:
Increase in receivables ( - )(1,000)
Don Schwartz: Increases in receivables, inventory, and accounts
payable are based on balance sheet changes
(500)(500)(700)(780)(987)(1,076)(1,182)(1,475)(1,780)(2,002)(
2,168)(14,150)(31,683)Increase in inventory ( -
)(5,000)000(766)(2,459)(2,166)(2,341)(4,244)(4,683)(4,683)(4,
683)(31,024)(6,395)Add:Increase in accts
payable7,490(1,710)1,290(3,450)5508402408001,4501,6001,600
1,60012,3002,593Total cash from
operations(7,870)(8,885)(7,285)(7,920)(4,461)(6,750)(6,152)(5,
249)(5,869)(5,213)(4,185)(3,101)(72,939)(6,767)Cash used for
capital assets:Office equipment(10,000)
Don Schwartz: Use MINUS sign
(10,000)(5,000)Computer network(35,000)(35,000)(5,000)Other
22. depreciable assets-Total cash for
investment(45,000)00000000000(45,000)(10,000)Cash from
financing activities:Capital paid in by owners40,000
Don Schwartz: Enter financing figures last, and only enough to
result in a relatively small positive ending bank balance
20,000010,0000010,00010,0000010,000100,0000Long-term
borrowing (repaid)30,000
NU: For a startup company, Long-term borrowing should be
limited to 80% of investment in capital assets (above)
Don Schwartz: Increases in receivables, inventory, and accounts
payable are based on balance sheet changes
0000000000030,0000Short-term borrowing
(repaid)000000000000010,000Total cash from
financing70,00020,0000010,0000010,00010,0000010,000130,00
010,000 Net increase
(decrease)17,13011,115(7,285)(7,920)5,539(6,750)(6,152)4,751
4,131(5,213)(4,185)6,89912,061(6,767)Cash - beginning
balance017,13028,24520,96013,04018,57911,8295,67710,42814
,5599,3465,162012,061Cash - ending
balance17,13028,24520,96013,04018,57911,8295,67710,42814,
5599,3465,16212,06112,0615,293--
BalSheet
Don Schwartz: Receivables and Inventory are based on turnover
ratios. However, startup
inventory is at least equal to the first 4 months of Cost of Goods
SoldSchedule A-1Sample CompanyPROJECTED BALANCE
SHEETS - YEARS 1 AND 21st Year2nd
YearBeginningJanFebMarAprMayJun
JulAugSepOctNovDecDecBalancesCash (per Cash
Flow)17,13028,24520,96013,04018,57911,8295,67710,42814,55
99,3465,16212,0615,293Accounts
receivable1,0001,5002,0002,7003,4804,4675,5436,7258,2009,98
23. 011,98214,15045,833Inventory5,0005,0005,0005,0005,7668,224
10,39012,73216,97621,65926,34131,02437,420Other current
assets Total Current Assets-
23,13034,74527,96020,74027,82524,52021,61029,88539,73540,
98543,48557,23588,546Office
equipment10,00010,00010,00010,00010,00010,00010,00010,000
10,00010,00010,00010,00015,000Computer
network35,00035,00035,00035,00035,00035,00035,00035,00035
,00035,00035,00035,00040,000Other depreciable
assets0000000000000 Less: accumulated deprec-750-1,500-
2,250-3,000-3,750-4,500-5,250-6,000-6,750-7,500-8,250-9,000-
20,000 Total Assets-
67,38078,24570,71062,74069,07565,02061,36068,88577,98578,
48580,23593,235123,546Liabilities
Don Schwartz: Accounts Payable = Cost of Sales + operating
expenses other than payroll-related expenses, depreciation and
rent expenseAccounts
payable7,4905,7807,0703,6204,1705,0105,2506,0507,5009,1001
0,70012,30014,893Short-term loans (Cash
Flow)00000000000010,000Long-term liab. (Cash
Flow)30,00030,00030,00030,00030,00030,00030,00030,00030,0
0030,00030,00030,00030,000 Total liabilities-
37,49035,78037,07033,62034,17035,01035,25036,05037,50039,
10040,70042,30054,893Owners' EquityPaid-in capital (Cash
Flow)40,00060,00060,00060,00070,00070,00070,00080,00090,0
0090,00090,000100,000100,000Retained earnings at
beginning of year000000000000-49,065Net profit - current
year-10,110-17,535-26,360-30,880-35,095-39,990-43,890-
47,165-49,515-50,615-50,465-49,06517,718 Total equity-
29,89042,46533,64029,12034,90530,01026,11032,83540,48539,
38539,53550,93568,653Total liabilities & equity-
67,38078,24570,71062,74069,07565,02061,36068,88577,98578,
48580,23593,235123,546--------------
RatiosExhibit DSample CompanyPROJECTED FINANCIAL
STATEMENT RATIOSIndustryYear 1Year 2IndustryRetail -
24. Sporting GoodsAverageProfitability RatiosGross Profit Margin
(if applicable)42.7%44.2%Gross Profit / SalesNet Profit
MarginNet Loss6.4%Net income / SalesReturn on Assets (aka
ROI)Net Loss14.3%Net income / Total AssetsReturn on
EquityNet Loss25.8%Ne income / Total EquityAsset
Management RatiosReceivables turnover6.06.0Sales / Accounts
ReceivableNumber of days to collect receivables60.860.8365
(days) / Receivable turnover ratioInventory turnover1.64.1Cost
of Sales / InventoryDebt RatioDebt to Net Worth (Debt to
Equity)0.80.8Total Liabilities / Total EquityLiquidity
RatiosCurrent Ratio4.73.6Total Current Assets / Total Current
LiabilitiesQuick Ratio 2.12.1Cash and Accounts Receivable /
Total Current Liabilities
Don Schwartz: For industry averages, refer to a library copy of
Dun and Bradstreet’s Industry Norms and Key Business Ratios
or other similar publication, or go to
http://moneycentral.msn.com.
GraphsAll figures are automatically calculated by formula:To
copy a chart into a Word document, follow the instructions to
the right > > >To copy an Excel chart into a Word document or
PowerPoint:Chart 1 - Projected Sales and ProfitYear 1Year 21.
In Microsoft Excel, click the chart you want to
copy.Sales84,900275,000Profit(49,065)17,7182. Click Copy
Chart 2 - Capital RequirementsYear 1Year 24. Click where you
want to paste the chart.Paid-
in100,000100,000Borrowed30,00040,0005. On the Edit menu in
Word or PowerPoint, click Paste Special.Chart 3 - Debt / Equity
Relationship Year 1Year 26. In the As box, click Microsoft
Excel Chart Object.Total debt42,30054,893Total
equity50,93568,6537. Click "Paste" button. (NOT "Paste Link")
The chart is pasted as an embedded object.Sample - Chart 1:
Projected Sales and Profit (Loss)
Sales Year 1 Year 2 84900 275000 Profit
Year 1 Year 2 -49065 17717.960526315801
25. Capital Requirements
Paid-in Year 1 Year 2 100000 100000 Borrowed
Year 1 Year 2 30000 40000
Total Debt and Equity
Total debtYear 1 Year 2 42300 54893.42105263158
Total equity Year 1 Year 2 50935
68652.960526315801
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BS formulasSample CompanyBalance Sheet CalculationsThis
worksheet is for audit trail purposes only, and should not be
incorporated in the business planCALCULATION
FORMULASCashFrom "Cash - ending balance" at end of Cash
Flow StatementAccounts receivableSales per Income Statement
divided by Accts Recvble turnover ratioInventoryAnnualized
Cost of Goods Sold divided by inventory turnover ratioOffice
equipmentPrior balance minus any increase from Cash Flow
StatementComputer networkPrior balance minus any increase
from Cash Flow StatementOther depreciable assetsPrior balance
minus any increase from Cash Flow StatementLess: accumulated
depr.Prior balance plus Depreciation from Cash Flow
StatementAccounts payableOne month's Cost of Sales (COGS)
plus operating expenses otherthan payroll-related expenses,
depreciation, and rent expenseShort-term loanPrior balance plus
26. any increase (or decrease) from Cash Flow StatementLong-term
liabilitiesPrior balance plus any increase (or decrease) from
Cash Flow StatementPaid-in capital Prior balance plus increase
from Cash Flow StatementRetained earnings - beginningPrior
balance plus Net profit - current periodNet profit - current
periodFrom Income Statement