Financial Plan

Lester Stoffels
Mind Map by Lester Stoffels, updated more than 1 year ago More Less
Lester Stoffels
Created by Lester Stoffels over 3 years ago


Financial Plan

Resource summary

Financial Plan
1 Profit and Loss
1.1 Types of costs
1.1.1 Cost of sales refers to cost incurred in bringing goods to point of sale
1.2 Work out your different costs
1.3 Shows all income earned and all costs incurred
1.4 If income is greater than cost incurred then = profit
1.5 If Costs exceed income = loss
1.6 New business - projected statement of profit & loss
2 Cash Flow Statements
2.1 Indicates financial position by describing profit/loss of business
2.2 It shows all the money that is coming in and being paid out
2.3 Difference between opening & closing balances
2.4 Helps identify operational problems and if finance is needed
3 Break-even Analysis
3.1 Point at which sales are equal to costs at a particular price
3.2 Determine the amount of sales required to keep business going
3.3 Shows investors how profitable a business might be
3.4 Depends on costs and profit estimates
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