“Successful financial management is not based on how to analyze numbers,
but on the knowledge of what you should do to get the required numbers”.
Usually, most of the efforts invested in the financial plan focus on calculating the expenditure items. A Good financial plan must be based onproper planning and detailed revenue sources.
You can have a financial plan for a period of 5-10 years which will be a budget document that allows monitoring and control of business performance on a monthly basis.
The contents of the financial plan:
- The Sales forecast Subscriptions
- The Sales Plan – income by services and activities
- Loan Repayment issue
- Profit forecast – Detailed expense sheet
- Cash Flow Forecast
- Operating Costs
- Labor costs – a schedule for each department
- Price List
- Issue of investment and procurement are required
- Business plan prerequisites
- Financial Scenario