Business Plan and Financial Projections – Team Project

Every successful business manager needs to be able to take their strategy, turn it into concrete business plans and assumptions and forecast the likely financial results from those plans and assumptions.

In your other classes and in particular your Entrepreneurial class you have learned about management, marketing, sales and business strategies. In our management accounting class, you have learned about revenue and cost behaviours and budgets and forecasts.

This assignment brings all of these topics together. There are two parts to this assignment.

Part 1: Build on your other classes work and develop a short written business plan for an events business. The objective is to leverage the work already done and not have to recreate all new content in this class. It can be either:

  1. The 1st year of a new events business, or
  2. Any year of an events business you have just bought or been appointed manager of – so now its yours to run as you wish.

Your business plan should provide a high-level overview of your strategy and plans. It must highlight your key assumptions for revenue and expenses.

Please note:

Your revenue plan must include at least two (2) different sources/types of revenue as covered previously in this course.

Your expenses plan must cover at least 8 – 10 different categories / types of costs that your business will incur.

Your revenue and expenses must reflect a variety of different patterns and timings of cash flows / payments / receipts of cash.

Your written plan should be about 3 word pages in length not counting the financial forecast. Your plan will be judged based on the completeness and reasonableness of your assumptions. Ensure to explain the thinking behind your assumptions if they are not clear by themselves.  Each line on your excel spreadsheet should have assumptions listed for it. See the examples I posted in eCentennial news items previously for how the assumptions might look.

Your will need to tell a brief story that supports your assumptions and numbers that would convince an investor or banker that your plan is properly thought out and has a reasonable chance of success.

Attached is some information that may help you with part 1 of your proposal

The end result that you submit is a word document about 3 pages in length for part 1.


Part 2: Build a financial forecast in excel based on your strategy and assumptions in Part 1.  You are turning those ideas and decisions into numbers. Your forecast must include an operating budget (Income Statement), a cash budget and a closing balance sheet budget. They will show the revenue and expenses, cash inflows and outflows based on your assumptions. See examples I posted previously on eCentennial news items.

You will need to develop:

  1. A quarterly financial forecast for revenue and all the expenses you would normally expect to see in your business. End result is a full and complete income statement budget.
  2. You will also need to identify the cash flow assumptions and impacts and build a quarterly cash flow forecast.
  3. Finally, you must build an end of year balance sheet using the income statement and cash flow statement. You will also have an opening balance sheet unless your proposal is for a new business.

The output of plan 2 is an excel spreadsheet with the above 3 forecasts.

You upload both the part 1 word document and part 2 completed excel spreadsheet into the assignment folder.


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