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ities Net Worth or Capital Surplus + Stock Value Financial Plan Worksheet 10 Assets LIABILITIES Current Liabilities Accounts Payable Miscellaneous Payable Total Current Liabilities Fixed Liabilities Loans Payable (long-term) Total Fixed Liabilities Owner's Equity Total Liabilnses Total Current Assets Fixed Assets Equipment (cost) Autos and Trucks (cost) Buildings (cost) Total (Less Depreciation) Net Total Add Land (cost) Total Fixed Assets Total Miscellaneous Assets Totaland Owner's Equity will always equal Total Assets. Financial Plan Worksheet 9 CURRENT BALANCE SHEET As of: ASSETS Current Assets Cash in Bank Cash on Hand Accounts Receivable Inventory Prepaid ExpeAssets to arrive at your Owner's Equity. For a corporation, this figure represents the total of contributions by the owners or stockholders plus earnings after paying any dividends. Total Liabilities e due. Any current amounts due should be listed as Current Liabilities. 9. Total your Current and Fixed Liabilities to arrive at Total Liabilities. 10. Subtract your Total Liabilities from your Total due on any long-term liabilities. Finally, list any payroll or taxes that have accrued but not yet been paid. 8. Your Fixed Liabilities consist of the principal of any long-term note, loan, or mortgagyable. Include here the principal due on any short-term notes payable. Also include any interest on credit purchases, notes, or loans that has accrued but not been paid. Also list the current amounts Current, Fixed, and Miscellaneous Assets to arrive at your Total Assets figure. 7. Your Current Liabilities consist of the following items: · Accounts Payable (if you have any yet). · Miscellaneous Pad. This is your total Fixed Assets value. Financial Plan Worksheet 8 6. Add any Miscellaneous Assets not yet included. These may consist of stocks, bonds, or other business investments. Total your figure for Total Fixed Assets (except land). 5. Enter the value for any land that your business owns. Land may not be depreciated. Add Fixed Assets amount (less Depreciation) and the value of the lane in this figure any business deductions that you have taken for Section 179 write-offs on business equipment. Enter this total depreciation figure under Depreciation and subtract this figure from thes · Buildings 4. Total your Fixed Assets (except land) on your Current Balance Sheet. Total all of the depreciation that you have previously deducted for all of your fixed assets (except land). Includhat have been paid for prior to their actual use). 2. Total all of your Current Assets on your Current Balance Sheet. 3. Your Fixed Assets consist of the following items: · Equipment · Autos and Truckank account balance) · Cash on Hand · Accounts Receivable (if you have any yet) · Inventory (if you have any yet) · Prepaid expenses (These may be rent, insurance, prepaid supplies, or similar items tsheet, and follow these instructions to prepare your Current Balance Sheet for your Business Financial Plan: 1. Your Current Assets consist of the following items. · Cash in Bank (from your business bties. Even if your business is very new, you will need to prepare a Balance Sheet of where it currently stands financially. Use the figures that you have gathered for the above Business Financial Work These figures are then balanced by adjusting the value of the owner's equity figure in the equation. Your Balance Sheet will total your current and fixed assets and your current and long-term liabiliorth). Essentially, the Balance Sheet shows what the company would be worth if all of the assets were sold and all of the liabilities were paid off. A value is placed on each asset and each liability.epict the financial strength of a company as shown by its assets and liabilities. It is merely a visual representation of the basic business financial equation: assets - liabilities = equity (or net we period. In contrast, a Balance Sheet is designed to be a look at the financial position of a company on a specific date. It shows what the business owns and owes on a fixed date. Its purpose is to det A Profit and Loss Statement provides a view of business operations over a particular period of time. It allows a look at the income and expenses and profits or losses of the business during the timissions Estimated General Expenses Total Estimated Miscellaneous Expenses Estimated Total Expenses Estimated Pre-Tax Profit (Income less Expenses) Financial Plan Worksheet 7 Preparing a Balance Shetgage expenses Repair expenses Office supplies Sales taxes Financial Plan Worksheet 6 Federal unemployment taxes State unemployment taxes Telephone/Internet expenses Utility expenses Wages and commes Freight and shipping expenses Business insurance expenses Business interest expenses Legal and accounting expenses Business meals and lodging Miscellaneous expenses Postage expenses Office rent/morneous Income Total Estimated Total Income ESTIMATED EXPENSES Advertising expenses Auto expenses Cleaning and maintenance expenses Charitable contributions Dues and publications Office equipment expensND LOSS STATEMENT For the period of: ESTIMATED INCOME Estimated Gross Sales Income Less Estimated Cost of Goods Sold Estimated Net Sales Income Total Estimated Service Income Total Estimated Miscellad subtract your Estimated Total Expenses figure from your Estimated Total Income figure to determine your Estimated Pre-Tax Profit for the time period. Financial Plan Worksheet 5 ESTIMATED PROFIT Ao prepare a second sheet. Based on your future projections, fill in the totals for each of your separate expense accounts. Add in any Estimated Miscellaneous Expenses. 5. Total all of your expenses anrest earned on a checking account). 4. Fill in the appropriate Estimated Expense Account categories on the Estimated Profit and Loss Statement. If you have a large number of categories, you may need tksheet 4 3. Calculate your Estimated Total Income for the period by adding your Estimated Net Sales Income and your Estimated Service Income and any Estimated Miscellaneous Income (for example: inteiness is a pure service business, skip this line. Determine your Estimated Net Sales Income by subtracting your Estimated Cost of Goods Sold from your Estimated Gross Sales Income. Financial Plan Worwill need to prepare a projection of your inventory costs and how many items you expect to sell. Fill in the Estimated Cost of Goods Sold figure on the Estimated Profit and Loss Statement. If your buse correct lines. 2. If your business will sell items from inventory, you will need to calculate your Estimated Cost of Goods Sold. In order to have the necessary figures to make this computation, you ss is a pure service business, put your estimated income on the Estimated Service Income Total line. If your business income comes from part sales and part service, place the appropriate figures on th To prepare this form, use the data that you have collected for the above Business Financial Worksheet. 1. The first figure that you will need will be your Estimated Gross Sales Income. If your businehe value of this type of financial planning tool is to allow you to see how various scenarios will affect your business. You may prepare this form as either a monthly, quarterly, or annual projection.tement differs from the other type of Profit and Loss Statements in that the figures that you will use are projections based on expected business income and expenses for a time period in the future. Thly, quarterly, and annual time periods. You may also desire to prepare Estimated Profit and Loss Statements for the first several years of your business's existence. The Estimated Profit and Loss Sta. As a trial exercise, you should prepare an Estimated Profit and Loss Statement using your best estimates before you even begin business. You may wish to prepare such pre-business statements for montdecisions. Your estimates are primarily for internal business planning purposes, although it may be useful to use an Estimated Profit and Loss Statement to convey your future financial plans to otherscan then be made on the basis of clear pictures of future scenarios. Your estimates of your business profits and losses can take into account industry changes, economic factors, and personal business allowing you to project estimated changes in your business over various time periods and examine what the results may be. Projections of various business plans can be examined in detail and decisions ong range business planning. This section will explain how to prepare an Estimated Profit and Loss Statement. The Estimated Profit and Loss Statement can serve a valuable business planning service by the amounts of money that your business has taken in over a specific period of time. Along with the Balance Sheet, the Profit and Loss Statement should become an integral part of both your short and lancial statement for presenting how your business is performing over a period of time. The Profit and Loss Statement illuminates both the amounts of money that your business has spent on expenses and rities and Exchange rules on sales of shares): __________________________________________ Financial Plan Worksheet 3 Preparing a Profit and Loss Statement A Profit and Loss Statement is the key fin___________________ Venture capital: __________________________________________ U.S. Small Business Administration: __________________________________________ Equity financing (check with current Secu___________________________ Finance companies: __________________________________________ Equipment manufacturers: __________________________________________ Leasing companies: _______________________al funds: __________________________________________ Family: __________________________________________ Friends: __________________________________________ Conventional bank financing: _______________th year: ______________________________________________________________ From what sources are the necessary funds expected to be raised? Cash on hand: __________________________________________ Person_____________________________________________ Third year: ______________________________________________________________ Fourth year: ______________________________________________________________ Fif____________________________ Estimate the cash flow for the business for the first five years: First year: ______________________________________________________________ Second year: ___________________ Third year: ______________________________________________________________ Fourth year: ______________________________________________________________ Fifth year: _____________________________________________________________________________________ First year: ______________________________________________________________ Second year: ________________________________________________________________________________ Financial Plan Worksheet 2 Financial Needs Based on the estimated profits and losses of the business, how much credit will be necessary for the business? Initially: ______________ Long-term liabilities: _____________________________________________________ Mortgage: _____________________________________________________ Other loans/notes payable: ____________________________ans/notes payable: ____________________________________________ Payroll accrued: _____________________________________________________ Miscellaneous: ___________________________________________________________________________________________________ Taxes due: _____________________________________________________ Accounts payable: _____________________________________________________ Short-term lo____________________________________________________ Stocks/bonds: _____________________________________________________ What types of debts does the business currently have? Current liabilities: ____any of above: ________________________________ Fixed non-depreciable: _____________________________________________________ Land: _____________________________________________________ Miscellaneous: ______________________________________ Buildings: _____________________________________________________ Equipment: _____________________________________________________ Amount of depreciation taken on _________________ Accounts receivable: _____________________________________________________ Fixed and depreciable: _____________________________________________________ Autos/trucks: ________________________________ Inventory: _____________________________________________________ Cash in bank: _____________________________________________________ Cash on hand: _____________________________________________ ______________________________________________________________________________ What types of assets are currently owned by the business? Current assets: __________________________________________________________________ What are the sources of the cash? __________________________________________________ What types of bank accounts are in place for the business and what are the balances? already been used by the business? ____________________________ ______________________________________________________________________________ How much cash is available to the business? ___________________________________ Using the above information, complete the Estimated Profit and Loss Statement as explained later. Financial Plan Worksheet 1 Assets and Liabilities What forms of credit havell be sold during the first year: ____________________ ______________________________________________________________________________ Estimate the Cost of Goods Sold for the first year: ______________eous Income: ______________________________________________________ Estimate the amount of inventory necessary for the first year: ____________________________ Estimate the amount of inventory that wit year's annual income from the following sources: Sales Income: ______________________________________________________ Service Income: ______________________________________________________ Miscellanet expenses: __________________________________________ Utility expenses: __________________________________________ Wages and commissions: __________________________________________ Estimate the firs __________________________________________ Federal unemployment taxes: __________________________________________ State unemployment taxes: __________________________________________ Telephone/Intern rent/mortgage expenses: __________________________________________ Repair expenses: __________________________________________ Office supplies: __________________________________________ Sales taxes:ess meals and lodging: __________________________________________ Miscellaneous expenses: __________________________________________ Postage expenses: __________________________________________ Officeenses: __________________________________________ Business interest expenses: __________________________________________ Legal and accounting expenses: __________________________________________ Busin_________________________________ Office equipment expenses: __________________________________________ Freight and shipping expenses: __________________________________________ Business insurance exp____________________ Cleaning and maintenance expenses: __________________________________________ Charitable contributions: __________________________________________ Dues and publications: _________ Income and Expenses Estimate the annual expenses for the first year in the following categories: Advertising expenses: __________________________________________ Auto expenses: ______________________ of these materials. An attorney should be consulted for all serious legal matters. Financial Plan Worksheet Describe the current financial status of your company: __________________________________ r profits; or business interruption) however caused and on any theory of liability, whether in contract, strict liability, or tort (including negligence or otherwise) arising in any way out of the usesponsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, but not limited to, procurement of substitute goods or services; loss of use, data, oarticular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, partners, or affiliates, or ii) the providers, authors or publishers of the forms, be re found at findlegalforms.com. These materials are provided "AS-IS." We do not give any express or implied warranties of merchantability, suitability or completeness for any of the materials for your py-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. The purchase and use of these materials is subject to the "Disclaimers and Terms of Use"assist you in preparing a formal Business Plan for your company. To purchase these products separately or as a complete package, please go to our site at www.findlegalforms.com . Disclaimer No Attornent Form) · Preparing a Balance Sheet (with Current Balance Sheet Form) Note: When used in conjunction with a Business Plan Worksheet and a Marketing Plan Worksheet, this Financial Plan Worksheet will n Worksheet Kit is divided into the following sections: · Income and Expenses · Assets and Liabilities · Financial Needs · Preparing a Profit and Loss Statement (with Estimated Profit and Loss Statemee Worksheet are instructions on preparing both an Estimated Profit and Loss Statement and a Current Balance Sheet. Both of these forms will help you put real numbers into your plans. The Financial Plato get that amount of money. This Financial Plan Worksheet Kit will lead you through a number of questions to help you determine the amount of money needed and where it might be obtained. Following thlly support itself. If you can honestly determine how much is actually necessary to allow the business time to thrive before you can take out profits or pay, the next challenge is to figure out where te the amount of money needed to start a business. The problem comes with arriving at a clear estimate of how much money will be necessary to keep the business operating until it is able to realisticaur company. The failure of many small businesses relates directly to underestimating the amount of money needed to start and continue the business. Most business owners can, with relative ease, estimaInformation Financial Plan Worksheet - Kit Provided under agreement with copyright holder, © Nova Publishing Company 2004 This kit provides the tools and guidelines to develop a Financial Plan for yo