1. V11 Module 5 Talk Plan 1.Presentation of the CFS tool o Goal & Use o Structure o Technical issues 2.Practice on a case study

2. V12 Use of the CFS tool Goal To build a dedicated financial simulator of the SME project When ? During the expertise within the innovation voucher How ? In-house use Introduction of the figures gathered from the Manager Determination of the influencing parameters Sensitivity analysis What for ? To assess the robustness of the business model

3. V13 Structure of the CFS tool Project based 1 project summary sheet 6 Working spreadsheets Revenues Costs Investments Loans Initial balance & capital structure Financial Statements and Valuation A simulated Cash Flow curve helps assessing the financial needs

4. V14 Technical issues of the CFS tool Excel-based tool Limited use of Macro function oEnable the macros Tools/Options/Security/Security of the macros/Medium Any investment must be financed oAssets = Equity and Liabilities (balance sheet)