Vicii Kirkpatrick Group Financial Planning & Analysis Manager

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Presentation transcript:

Vicii Kirkpatrick Group Financial Planning & Analysis Manager Financial Forecasts Vicii Kirkpatrick Group Financial Planning & Analysis Manager

Agenda Objectives Basic Definitions Who’s King? Inputs and Outputs

Objectives Understand basic financial terms Steps to prepare financial element of a business plan

Big Apple Carwash Company

Basic Definitions Assets Liabilities Debtors Creditors P&L Income statement Revenue Costs of Sales Overheads Balance Sheet

Financial Statements P&L / Income statement Balance sheet Revenue Cost of Sales Margin Overheads Profit before tax Tax Profit after tax Assets Fixed Assets Current Assets Liabilities Current Liabilities Long term Liabilities Net Assets Shareholders funds

Revenue is vanity, profit is sanity but CASH is KING Who is King? Revenue Profit Cash Why? Revenue is vanity, profit is sanity but CASH is KING

Inputs and Outputs The best way to build a business plan is to ignore the pounds? What will I need to start the enterprise? What will I need to run the enterprise Start with inputs and outputs in volume terms Then work out your ordering quantities Then price them See if it makes money Determine the cash needs

Key questions How much money do we need at start up? What is our gross margin? What is our break even point? When do we start to generate cash? What is our margin for error?