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Part 1: FINANCIAL STATEMENTS While this assignment is for the complete business

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Part 1: FINANCIAL STATEMENTS
While this assignment is for the complete business plan, the new part – the financial statements – are graded as another 200 point assignment.. (Your plan will include these financial statements you are now creating.) You should minimally have three years of financial statements (Income Statement, Balance Sheet, Cash Flow Statement) with the first year broken into months or quarters. For those of you with the background, you may craft the statements yourself. Otherwise, I have provided templates for these and your text book has examples as well.
Or, as mentioned before, I have a set of linked spreadsheets that will give you a decent working copy of statements. This Excel spread sheet is something I crafted to use with Center clients. It has limitations, but usually does a decent job for this class. I have a set of instructions that provide a step-by-step process for using these sheets. The formulae are NOT protected, so you can edit if you need to make changes. You may want to save often and then if you accidentally delete or change something you shouldn’t, you won’t have to re-create everything. (This file makes use of a number of intermediary sheets – marketing, administrative costs, etc. You can include some of these in your final plan as they provide explanations for some of the things you are doing.)
Other materials that should be considered include explanations to the financial statements for anything that may not be obvious. Your “Start-up Costs” worksheet is very helpful for us to see where you got your numbers. (Remember: whatever you can do to make the plan transparent and easy to navigate, greatly enhances your chances of getting a loan – or the benefit of the doubt for a grade.)
We realize that only some you really intend to pursue your plans at least at this time, but you now have the knowledge to do so when the time is right or when you find the right idea. The course is designed that your financial statements will ONLY be graded as part of the final plan. To that end, our feedback will be a bit more formulaic – this is what is missing, this is what needs improvement. For those of you who are really considering your plan, please let us know and we will give more detailed feedback.
PLEASE NOTE: You will NOT be graded on whether or not your business makes a profit. I’m interested in you learning the process. In other words, you don’t have to redo things until you make a profit. Perhaps some ideas will jump out at you as you work on them. These could be added to your explanation – sort of your “what next” ideas.
The financial statements section is worth 200 points

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