FIN 375 Week 1 LivePlan: Expectations Individual Assignment
Entire Course Link
In this assignment, you will complete portions of the “Executive Summary” and “Financial Plan” sections of your business plan. Remember to include enough depth, analysis, and research in this specific section to support the overall business plan.
You need to identify a small business that you would like to own and operate for your LivePlan assignments. It can be one which exists or one which you wish to create.
Please describe your business in the first part of the executive summary section.
You should read the LivePlan assignment for week three, which is a financial forecast of your business. Start identfying the sales and expenses and other numbers you will need to complete the week three LivePlan assignment.
Please complete the income statement and balance sheet for the first year of your business. Please make sure that the expenses include costs of goods or services and also specific items for overhead (such as utilities, insurance, salaries (not directly associated with making the product or service), office supplies etc.
It is important that your cost of goods estimates are realistic and are related to your sales. For example if you are building toys and you estimate sales of 100,000 dollars for the year but your cost of goods for the year are only 5,000 dollars that would be unrealistic. it normally would cost considerably more than 5,000 dollars in cost of good to generate sales of 100,000 for the year.
Your balance sheet estimates should include estimates for cash, accounts receivable, and inventory. Please remember that your total assets must equal to your total liabilities and equity. If the balance sheet total assets are different than the total liabilities and equity you will lose points on the assignment.
As you are doing the first year estimates for the income statement and balance sheet, if you have questions please feel free to contact me.
Login to your LivePlan account.
Select the Plan tab within LivePlan, and then select the “Executive Summary” chapter on the left-hand side menu. The arrow to the right of the chapter will expand or contract the sections within the chapter.
Complete all 3 parts of the “Expectations” section: Forecast, Financial Highlights by Year, and Financing Needed.
Select the “Financial Plan” chapter on the left-hand side menu.
Complete both parts of the “Financing” section: Use of Funds and Sources of Funds.
Click the “Download & Print” option at the top of the page.
Select the “Download as Doc” option and save a copy of your business plan.
Click the Assignment Files tab to submit your assignment.