This assignment focuses on Creating elements of a financial plan. Also talks about (Scarborough & Cornwall, 2015) who demonstrates the importance of a well fashioned finanicial plan.
Creating elements of a financial plan-(Scarborough & Cornwall, 2015)
Description “One of the most important steps in launching a new business venture is fashioning a well-designed, practical, realistic financial plan.” (Scarborough & Cornwall, 2015, p. 454). With this assignment, you are creating two important elements of a financial plan: an Income Statement and Balance Sheet. You also are preparing an outline of a presentation of your business plan to potential investors or lenders.
In order to truly manage your money, you should have a working budget for each month. A budget allows you to give each dollar you make a purpose. It puts you in control of your money. It lets you track your spending and helps to measure whether or not you are meeting your financial goals.
Creating elements of a financial plan-(Scarborough & Cornwall, 2015)
Using the business you created from Assignments 2 and 3, write a three to four (3-4) page paper in which you: Prepare a simple pro forma (projected) income statement and balance sheet for the first two years of operation, using income projections and incorporating an advertising plan. Outline a plan for hiring and retaining competent, motivated employees for your business. Prepare an outline for a “pitch,” i.e., a short 20-30 minute business plan presentation that will be made to lenders or investors. Include at least two (2) references outside the textbook.
Detailed Instructions
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