Financial plan

ForecastV1-05.xls

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Financial Plan Forecast Template
BA499
	Table of Contents
	Worksheet		Contents
	Input Worksheets
		Intro	Introduction plus basic inputs for company name and start date
		Sales	Inputs for Sales and COS by product/service
		People	Inputs for personnel expenses including benefits
		IS	Inputs for other income statement items (includes summary IS)
		BS	Inputs for other balance sheet items (includes summary BS)
		CF	Inputs for other cash flow items (includes summary CF)
		Break	Inputs for breakeven analysis
		PV	Inputs for present value analysis
	Report Worksheets
		Reports	Introduction
		YR-CF	Annual Cash Flow
		YR-IS	Annual Income Statement
		YR-BS	Annual Balance Sheet
		YR-Break	Annual Breakeven Analysis
		YR-Ratios	Annual Ratio Analysis
		YR-PV	Annual Present Value Analysis
		Mth-CF	Monthly Cash Flow for Year 1
		Mth-IS	Monthly Income Statement for Year 1
		Mth-BS	Monthly Balance Sheet for Year 1
		Assumptions	Blank Page to enter Assumptions
		Click the blue "Return to TOC" box to return here anywhere in the workbook
Version 1.03 7/14/03
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

Intro

Sales

People

Break

YR-CF

YR-IS

YR-BS

YR-Break

YR-Ratios

YR-PV

Mth-CF

Mth-IS

Mth-BS

Assumptions

Reports

Intro

Introduction Welcome to the BA499 integrated model for projecting financial statements for your business plan. This brief introduction has been divided into several pieces. They are: - A discussion of intimidation - Organization of the workbook - Where the assumptions are found - What the background colors mean - A note on startup costs - First things to enter - Tips and tricks - A final word from the author If any of us as professors can help please ask. If you have specific technical questions your professor can not answer please contact the author of this workbook, Dr. Andy Dungan

Are You Intimidated by Financial Statements? Many of you may be intimidated by the financial statements. We have two pieces of advice: 1. You can do this! and 2. DON'T WAIT TO GET STARTED. The sooner you start, the sooner you will finish. A significant amount of time is required to do a reasonable job on your financials. If you procrastinate, you will have a difficult time finishing the financials in time. The process of projecting financial statements is an iterative one. What that means is that it will take multiple attempts to figure out your financials; you will try one thing and then another. In the beginning you may be confused and not understand how changing one variable changes another. Keep working. Eventually you will see how your inputs relate to the financial statements and you will have a much better understanding of how the different statements relate to each other.

Organization of the Workbook (file) If you look at the bottom of this page you will see a number of tabs. The first eight tabs are where you enter data for your plan. The tabs listed after the REPORT tab are your financial statements. These tabs make it easy for you to switch back and forth between worksheets to see the results in your financial statements.

Where the Assumptions are found This section shows you by input worksheet what assumptions or inputs are found on that worksheet.

Worksheet Name

Inputs/Assumptions

Intro

Company name and start date

Sales

Unit sales, revenues and costs Product names and other cost of sales

People

Personnel costs charged to Cost of Sales Personnel costs charged to Operating Expenses Assumptions for payroll taxes and benefits

IS (Income Statement)

Interest expense assumptions Income tax assumptions Operating expense inputs (except personnel and depreciation) Other expenses or income

BS (Balance Sheet)

Assumptions about depreciation Accumptions about accounts receivable Assumptions about inventory Assumptions about accounts payable Beginning balances for companies that are not a startup

CF (Cash Flow)

Cash flows for purchase of assets (property and equipment, other current assets, and other assets) Cash flows for short and long-term borrowings Cash flows for sale of stock (equity) and payment of dividends Cash flows for other current liabilities and other liabilities

Break (Breakeven)

Allocation of costs between variable and fixed Volumes for sales if unit breakeven calculations are desired

PV (Present Value)

Discount rate assumptions Cash flow assumptions Year 4-10 for Business Cash flow assumptions for Primary Investor Analysis

What the Background Colors Mean The backgrounds of cells are important primarily if they are yellow. For the input worksheets yellow denotes places you must enter your assumptions. You do not have to enter something in every yello box, but be sure you know why you are or are not using it.

Most important color--This is where you enter your assumptions

Used for column headings--shows the period (month or year)

A Note on Startup Costs

This projection model has not been designed with a separate section for startup costs. Your projection should begin in the period you begin spending money, not the period you begin generating revenues. Thus, you will record expenses (investments, financing, etc.) before you have revenues. An alternative to this method would be to acculmulate all your startup costs and enter them into the first period of your projection.

If your business is not a startup business then you will need to enter your beginning balance sheet data. This information is entered on the BS input tab.

The First Things to Enter

Your Company Name Here

Your Company Name

Enter the year and month your projections begin

Year

2010

Month

This shows you the dates each of your periods end. These green heading will show up as headings on the input worksheets. Please understand that this model has been designed to project one year by month with two following years being projected by year. There is no option to change this. You could do this on your own, but it would be a difficult task unless you are well versed in the use of Excel.

Months in your Projection

Month

Jan-10

Feb-10

Mar-10

Apr-10

May-10

Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Years in your Projection

Year

Dec-09

Dec-10

Dec-11

Dec-12

Tips and Tricks 1. This entire spreadsheet has been protected. The only cells in which you can enter data are those with the yellow background. You can remove the protection and start making changes, but if you get yourself in trouble you are on your own. 2. Each of the input worksheets has had its panes frozen. This means that the column and row headings always show when working with the worksheet. The screen can not be split when the pane is frozen. To unfreeze a worksheet select Window--Unfreeze Panes. 3. The wider you can make your Excel window and the higher you can set the resolution on your computer screen the easier it will be to work with this spreadsheet. The input worksheets all contain 3 columns for headings 12 columns for the months, 1 column to total the first year and 2 more columns for the last two years. The more of this information you can see at the same time, the easier it will be to understand the worksheet. An alternative to this would be to reduce the view size on the standard toolbar (to say 75%). This would allow you to see more of the spreadsheet at one time.

4. The Go To command (Edit GoTo or ctrl G) can be very helpful. If you do not understand where a number came from you can highlight part of a formula for a cell and then Go To it. Tricks for forecasting--possibly I could talk about Power variable techniques see p. 10.13 BP Pro

A Final Word from the Author Please remember that while the "numbers" are important that ultimately business is about PEOPLE and RELATIONSHIPS. Said differently, the numbers must work, but businesses are run by PEOPLE that have PEOPLE for customers and operate in a community of PEOPLE. Best wishes in your business endeavors, Andy Dungan, Ph.D.

All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

Inputs worksheets where your assumptions are entered

Reports worksheets for printable reports for your business plan

Intro

Sales

People

IS (Income Statement)

Sales

Summary of Sales & Costs			Month Ended												Year Ended
			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Introduction to Worksheet This section allows you to project your sales and cost of sales. It has been designed to work with unit sales and unit costs. If you can not forecast your sales this way read the next paragraph. 1. Labor Costs and 2. Other Costs of Sales are not projected by product. They are forecasted as a total amount for all products. Most people will not use these two categories. Labor Costs come from the People worksheet and Other Costs of Sales are entered on the Summary of Sales and Costs below. If you want to project specific amounts for each period without using the unit sales enter "1" as the unit sales and then enter the total sales amount as the unit price. You should then compute your Direct COS as a % of sales by entering a formula into the Unit Cost of Sales (instead of an amount per unit of sales). If you do not wish to use COS just leave the amounts blank. For this worksheet you will enter the following: - Product/service names for up to 9 product/services--use only as many as you need - Other Cost of Sales--an aggregate amount entered for all products/services--most will not use - Unit sales, revenues, and costs In the summary below you will find your sales and costs summarized by product/service and period.
Product Names You may forecast up to 9 different products/services. Enter the names of the products/services below
	Product/Service 1
	Product/Service 2
	Product/Service 3
	Product/Service 4
	Product/Service 5
	Product/Service 6
	Product/Service 7
	Product/Service 8
	Product/Service 9
Summary of Sales & Costs			Month Ended												Year Ended
Your Company Name			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Sales			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Less Cost of Sales:
	Direct COS		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Labor (including benefits)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Cost of Sales														$ -
	Total Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Gross Profit	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Summary of Sales by Product/Service
	Gross Profit by Product/Service
	Product/Service 1		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 2		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 3		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 4		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 5		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 6		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 7		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 8		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 9		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	LESS:
	Labor (including benefits)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Gross Profit	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Unit Sales
	Product/Service 1														0
	Product/Service 2														0
	Product/Service 3														0
	Product/Service 4														0
	Product/Service 5														0
	Product/Service 6														0
	Product/Service 7														0
	Product/Service 8														0
	Product/Service 9														0
Unit Sales Price
	Product/Service 1														$ - 0
	Product/Service 2														$ - 0
	Product/Service 3														$ - 0
	Product/Service 4														$ - 0
	Product/Service 5														$ - 0
	Product/Service 6														$ - 0
	Product/Service 7														$ - 0
	Product/Service 8														$ - 0
	Product/Service 9														$ - 0
Unit Cost of Sales
	Product/Service 1														$ - 0
	Product/Service 2														$ - 0
	Product/Service 3														$ - 0
	Product/Service 4														$ - 0
	Product/Service 5														$ - 0
	Product/Service 6														$ - 0
	Product/Service 7														$ - 0
	Product/Service 8														$ - 0
	Product/Service 9														$ - 0
Sales by Product/Service
	Product/Service 1		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 2		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 3		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 4		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 5		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 6		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 7		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 8		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 9		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Sales	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Direct COS by Product/Service
	Product/Service 1		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 2		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 3		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 4		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 5		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 6		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 7		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 8		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Product/Service 9		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total COS	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

People

Personnel Costs			Month Ended												Year Ended
			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Introduction to Worksheet There are two categories of Personnel Expense that can be projected. The first category is for personnel costs that will be shown as part of Cost of Sales. They will be reported as aggregate numbers, not by product. See the income statement to see where these costs print out. Only use this category if you can determine which people are directly involved in making your product or offering your service. If people have multiple duties then it is often easier to project their personnel costs as part of the second category, Operating Expenses. For this worksheet you will enter the following: - Assumptions about Payroll Taxes and Benefits - Salaries for people to be included in Cost of Sales - Salaries for people to be included in Operating Expenses In the summary below you will find your personnel expenses summarized into the two categories by period.
Assumptions about Payroll Taxes and Benefits In this section you will enter your assumptions about Payroll taxes and other benefits costs. These will all be entered as a % of Payroll. While this method is not always perfect it will allow a reasonable estimate to be determined. It is not uncommon for taxes and benefits to cost 30% to 40% of salaries or more. Percents will be projected for each year. For the first year the same percents will be used for each month.
					Year 1	Year 2	Year 3
					Year Ending
Taxes and Benefits as a % of Salaries					Dec-10	Dec-11	Dec-12
	Social Security (for employer share)				6.20%	6.20%	6.20%
	Medicare (for employer share)				1.45%	1.45%	1.45%
	Federal Unemployment				0.80%	0.80%	0.80%
	State Unemployment				3.00%	3.00%	3.00%
	Workmen's compensation				0.10%	0.10%	0.10%
	Other taxes (local, etc.)
	Health insurance				15.00%	15.00%	15.00%
	(typically $300-$700/month/person)
	Retirement contribution
	Other benefits
	(gym, tuition, etc.)
		Total Benefits as % of Salaries			26.55%	26.55%	26.55%
Personnel Costs			Month Ended												Year Ended
Your Company Name			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Personnel Costs To Be Included in Cost of Sales
	Salaries
		Prod Person 1													$ -
		Prod Person 2													$ -
		Prod Person 3													$ -
		Prod Person 4													$ -
		Prod Person 5													$ -
		Prod Person 6													$ -
		Prod Person 7													$ -
		Prod Person 8													$ -
		Prod Person 9													$ -
	Total Salaries		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Personnel Benefits		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Total Personnel to COS			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Personnel Costs To Be Included in Operating Expenses
	Salaries
		Person 1													$ -
		Person 2													$ -
		Person 3													$ -
		Person 4													$ -
		Person 5													$ -
		Person 6													$ -
		Person 7													$ -
		Person 8													$ -
		Person 9													$ -
	Total Salaries		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Personnel Benefits		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Total Personnel to Oper Exp			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

IS

Income Statement Detail			Month Ended												Year Ended
			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Introduction to Worksheet This section allows you to enter your Operating Expenses except for Personnel and Depreciation expenses. You will also enter your assumptions for computation of interest expense and income taxes. Additionally, you can enter other expenses (or income) that are not included in Operating Expenses. Most people will not use this category. This worksheet also provides a summary of your entire income statement by month for the first year and by year for the next two years. For this worksheet you will enter the following: - Assumptions about interest expense - Assumptions about income taxes - Operating expense category names - Operating expenses for the first year by month and the following two years - Other expenses (or income) The income statement is found located after the assumptions.
Assumptions for Interest Expense Interest expense is computed by taking the average loan balance times the interest rate. Monthyly amounts are computed by dividing by 12. Interest expense for short and long-term loans are computed separately and then added together.
				Year Ended
				Dec-10	Dec-11	Dec-12
		Short-term rate		4.50%	4.75%	5.00%
		Long-term rate		6.00%	6.50%	7.00%
Interest Expense Calculator
Short-term Loan Ending Balance			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	+prior month Balance		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	divide by 2 = average balance		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Interst Rate from above	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%		4.75%	5.00%
	times rate		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -		$ -	$ -
	/ 12 for monthly interest expense		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Long-term Loan Ending Balance			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	+prior month Balance		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	divide by 2 = average balance		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Interst Rate from above	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%	6.00%		6.50%	7.00%
	times rate		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -		$ -	$ -
	/ 12 for monthly interest expense		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Interest Expense	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Assumptions for Income Taxes (inlcudes Federal, State, Local or other) For this projection you must enter tax rates by range. Absolute accuracy is not required but the estimate should be reasonable and include all types of income taxes (federal, state, local). At the far right is a table that shows the detail of tax calculation by range.
															Year Ended
															Dec-10	Dec-11	Dec-12
				Enter Tax Rates by Range				Tax Computer		>>>>>>>>>>>>>>>>>>>>>				NIBT	$ -	$ -	$ -
				Range		Rate		By range chart shows tax computation				>>>>>
				$ -	$ 10,000	15%									$ -	$ -	$ -
				$ 10,001	$ 50,000	25%									$ -	$ -	$ -
				$ 50,001	$ 100,000	35%									$ -	$ -	$ -
				$ 100,001	or greater	45%									$ -	$ -	$ -
															$ -	$ -	$ -
Income Statement Detail			Month Ended												Year Ended
Your Company Name			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Sales			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Less Cost of Sales:			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Material		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Labor (including benefits)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Total Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Gross Profit	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Operating Expenses
	Personnel & Benefits		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Depreciation		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 1														$ -
	Oper exp 2														$ -
	Oper exp 3														$ -
	Oper exp 4														$ -
	Oper exp 5														$ -
	Oper exp 6														$ -
	Oper exp 7														$ -
	Oper exp 8														$ -
	Oper exp 9														$ -
	Oper exp 10														$ -
	Oper exp 11														$ -
	Oper exp 12														$ -
	Oper exp 13														$ -
	Oper exp 14														$ -
	Oper exp 15														$ -
	Other Operating Expenses														$ -
		Total Operating Expenses	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Earnings Before Interest and Taxes			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Interest Expense (calulation above)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Exp (Inc) (Normally do not use)														$ -
Earnings Before Taxes			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Income Taxes		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Net Income	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

BS

Balance Sheet Detail			Year Ended	Month Ended												Year Ended
			Dec-09	Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Introduction to Worksheet This section allows you to enter your assumptions about depreciation, accounts receivable, inventory and accounts payable. Additionally, if you are not a startup company you can enter your beginning balances. For most individuals your beginning balances will be zeros because you are a startup company. Costs for starting up the business should be included in the first month of projections not the beginning balances. There are different ways of looking at how startup costs should be included in a projection, but this is the method used in this model. This worksheet also provides a summary of your entire balance sheet by month for the first year and by year for the next two years. For this worksheet you will enter the following: - Assumptions about depreciation - Assumptions about accounts receivable - Assumptions about inventory - Assumptions about accounts payable - Beginning balances if you are not a startup company The balance sheet is found located after the assumptions.
Assumptions about Depreciation and depreciation calculator This section is where you enter assumptions about the life of different categories of assets. These different lives will be used for depreciation purposes. All depreciation is computed straight line with a salvage value of zero. Some default numbers have been entered, but you should change them to fit your assumptions. You may also change the names of the categories.
Type of Asset				Average Life
	Land			n/a
	Buildings			30
	Building/Leasehold Improvements			10
	Machinery & Equipment			5
	Automobiles			3
	Office Equipment/Other			3
Depreciation Calculator
	Buildings			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
	Building/Leasehold Improvements			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
	Machinery & Equipment			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
	Automobiles			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
	Office Equipment/Other			0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
				0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Assumptions about Accounts Receivable Two methods are provided to project accounts receivable. The first method is based on the percent of sales that are on credit and how many days, on average, you have outstanding in accounts receivable. This will be the method used by most. The second method allows you to forecast a specific increase or decrease for account receivable by period. The first decision you must make is the method you will use.
		Method to be used--check one								1.0
	Method 1--sales on credit/collection period			Month Ended													Year Ended
YOU ARE USING THIS METHOD				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		% of Sales on Credit
		Average days A/R outstanding
	Method 2--specific changes			Month Ended													Year Ended
0				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		Increase (Decrease) per period
Accounts Receivable Calculator
	Accounts Receivable Balance			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -		$ -	$ -
Assumptions about Inventory Two methods are provided to project inventory. The first method is based on the percent of sales that should be in inventory. This is a realatively simplistic method but should work for a broad range of situations. If, for example, your cost of sales was 40% and you feel that you should have 30 days of product (or materials to make the product in stock) then you would enter 40% for % of sales in inventory. If you felt 60 days was required you would enter 80% (2x40%). This will be the method used by most. The second method allows you to forecast a specific increase or decrease for inventory by period. The first decision you must make is the method you will use.
		Method to be used--check one								1.0
	Method 1--inventory as % of sales			Month Ended													Year Ended
YOU ARE USING THIS METHOD				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		% of Sales to be in inventory
	Method 2--specific changes			Month Ended													Year Ended
0				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		Increase (Decrease) per period
Inventory Calculator
	Inventory Balance			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -		$ -	$ -
Assumptions about Accounts Payable Two methods are provided to project accounts payble. The methods are quite similar to the methods used for accounts receivable. The first method is based on the percent of expenditures (includes cost of sales and operating expenses except depreciation) that are purchased on credit and how many days on average you take to pay your bills. In the beginning few vendors will extend you credit at all. Once you are established the possibility of vendors giving you credit is much greater. This will be the method used by most. The second method allows you to forecast a specific increase or decrease for accounts payable by period. The first decision you must make is the method you will use.
		Method to be used--check one								1.0
	Method 1--sales on credit/collection period			Month Ended													Year Ended
YOU ARE USING THIS METHOD				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		% of Expenditures Made on Credit
		Average Days to Pay Bills
	Method 2--specific changes			Month Ended													Year Ended
0				Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10		Dec-11	Dec-12
		Increase (Decrease) per period
Accounts Payable Calculator
	Accounts Payable Balance			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -		$ -	$ -
about BEGINNING BALANCES You only enter amounts in Beginning Balances if your company is NOT a startup. If this is a startup company beginning balances will all be zero and startup costs should be entered in the first period of the projection (or when they occur).
			Beginning
			Balances
			see note above
Balance Sheet Detail			Year Ended	Month Ended												Year Ended
Your Company Name			Dec-09	Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Assets
	Cash			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Accounts Receivable			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Inventory			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Current Assets			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Current Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Property and Equipment
	Land			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Buildings			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Building/Leasehold Improvements			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Machinery & Equipment			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Automobiles			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Office Equipment/Other			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Property & Equipment	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
less acculumlated depreciation				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Fixed Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Assets			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Liabilities and Equity
	Accounts Payable			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Short-term Loans Payable			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Current Liabilities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Current Liabilities	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Long-term Debt			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Liabilities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Liabilities	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Equity
	Stock and Paid-in Capital			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Retained Earnings			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Current Year Earnings			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Equity	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Liabilities and Equity	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

Method 1--Project sales on credit and average collection period

Method 2--Project specific changes

Method 1--Project inventory as a % of sales

Method 2--Project specific changes

Method 1--Project sales on credit and average collection period

Method 2--Project specific changes

CF

Cash Flow Detail			Month Ended												Year Ended
			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Introduction to Worksheet This section allows you to enter certain cash flows for your company. Some of the cash flows are computed from other inputs (those that do not have a yellow background in the cash flow statement below), but you will be entering many important amounts for your business on this worksheet. Generally, the amounts you will project here relate to how you will finance your business (including payback of that financing) and what assets you will purchase to operate your business. Several miscellaneous categories are also provided to handle unusual situations. This is the most important worksheet in your projection. If you don't have a positive balance in your cash account (think of it like your checking account) at the end of the month then you are essentially bankrupt (or at least in legal trouble). You have to have a positive cash balance at the end of each period. The graphic provided immediately below will help you visualize your situation. Remember the income statment is not the cash flow. Just because you have a profit does not mean you have enough money to run your business. A summary of your statement by month for the first year and by year for the next two years is provided below. You will enter your cashflows on this statement in cells with the yellow background. For this worksheet you will enter cash flows for a number of different categories. They are: - Other current assets (normally not used) - Other current liabilities (normally not used) - Purchases of property and equipment (in 6 categories) - Purchaes (or sales) of other assets (normally not used) - New short-term borrowings - Repayment of short-term borrowings - New long-term borrowings - Repayment of long-term borrowings - Acquisition (or repayment of other liabilities (normally not used) - Sale or issuance of company stock (equity) - Payment of dividends The cash flow statement is found immediately below the graphic.
Cash Flow Detail			Month Ended												Year Ended
Your Company Name			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10	Dec-11	Dec-12
Cash Flows from Operations
	Net Income		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Depreciation		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Changes in Working Capital
		Accounts Receivable1	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Inventories1	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Other Current Assets1 (Minus increases asset)													$ -
		Accounts Payable2	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Other Current Liabilities2 (Plus increases liability)													$ -
Net Cash Provide by Operating Activities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash Flows from Investing Activities
	Purchases (Sales) of Property and Equipment
		Land													$ -
		Buildings													$ -
		Building/Leasehold Improvements													$ -
		Machinery & Equipment													$ -
		Automobiles													$ -
		Office Equipment/Other													$ -
	Total Property and Equipment		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Acquisition of Other Assets														$ -
Net Cash Used in Investing Activities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash Flows from Financing Activities
	Short-term Borrowings														$ -
	Repayment of Short-term Borrowings														$ -
	Long-term Borrowings														$ -
	Repayment of Long-term Borrowings														$ -
	Acquire (repay) Other Liabilities														$ -
	Sale of Stock														$ -
	Payment of Dividends														$ -
Net Cash Provided by (Used in) Financing Activities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Net Increase (Decrease) in Cash			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Plus Beginning Cash		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Ending Cash	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
1	An increase in a current asset will decrease cash (i.e. not receving cash from a sale means you have less cash)
2	An increase in a current liability will increase cash (i.e. not paying a bill means you have more cash)
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

CF

Ending Cash

Break

Breakeven Analysis						Year 1	Year 1 Allocation		Year 2	Year 2 Allocation		Year 3	Year 3 Allocation
Introduction to Worksheet This section allows you to enter certain assumptions so your breakeven analysis can be completed. You will be entering, on an optional basis, the number of units you sell. You will only enter amounts for units if you want to compute breakeven based on number of units. Everyone will enter allocations for costs between variable and fixed costs. For this worksheet you will enter the following: - Units sold by year if you wish to computer breakeven based on units - Assumptions allocation of costs between variable and fixed costs The breakeven analysis is found at the end after the allocation assumptions.
Discussion of Variable and Fixed Costs Variable costs are those costs that are a direct function of the production (or service) process. For instance, if you were in the retail business, the cost of buying a product that you sell is a variable cost. If you were making a product the cost of materials to make the product would be variable. Variable costs are those costs directly related to each unit you sell. Fixed costs, on the other hand, are those costs that do not vary. For instance, if you decided to rent a building as a store or manufacturing facility the rent would be payable no matter whether you sold something or not. These are called fixed costs. They are fixed no matter how much you sell. The challenge comes in the form of mixed or step variable costs. An example of this would be someone you hire to sell your product or service. In one way they are variable. You wouldn't need them if you were not selling something. But, you only need to hire a new sales person when your sales increase substantially. This would be an example of "step" variable.
Another example might be if an employee had two jobs. Let us say that half the time an employee made a product for you and the other half of the time they did the accounting. The production time would be variable and the accounting time fixed. So your challenge for determing the below allocations of variable and fixed costs is to make a reasonable, not perfect, allocation of the costs in your projected income statement between fixed and variable costs. Normally cost of sales are variable cost and operating costs are fixed, but this is not always the case. It depends on your business and where you put certain kinds of expenses in your projected income statement. Breakeven was discussed in BA213 and BA380 so if you need go back and look at your textbooks for those classes. Note: the word ERROR prints in the column next to the allocations until you enter the allocations correctly.
Unit Sales Volume if available
						Year 1			Year 2			Year 3
Number of Units Sold (if available--not required input)
	Average Sale per unit sold					$ - 0			$ - 0			$ - 0
Allocation of Costs to Fixed and Variable Costs
			Percent Allocation			NI Year Ended			NI Year Ended			NI Year Ended
			Must total 100%			Dec-10	Year 1 Allocation		Dec-11	Year 2 Allocation		Dec-12	Year 3 Allocation
Income Statement			Variable	Fixed		Total	Variable	Fixed	Total	Variable	Fixed	Total	Variable	Fixed
Sales			100%		0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Less Cost of Sales:						$ -			$ -			$ -
	Material		100%		0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Labor (including benefits)		100%		0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Cost of Sales		100%		0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Total Cost of Sales					$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Gross Profit				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Operating Expenses						$ -			$ -			$ -
	Personnel			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Depreciation			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 1			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 2			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 3			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 4			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 5			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 6			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 7			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 8			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 9			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 10			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 11			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 12			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 13			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 14			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Oper exp 15			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Operating Expenses			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Operating Expenses				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
						$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Earnings Before Interest and Taxes						$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Interest Expense			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Exp (Inc)			100%	0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
						$ -			$ -			$ -
Earnings Before Taxes						$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Income Taxes		100%		0	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Net Income				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
							$ -	$ -		$ -	$ -		$ -	$ -
							$ -	$ -		$ -	$ -		$ -	$ -
							$ -	$ -		$ -	$ -		$ -	$ -
Breakeven Analysis						Year Ended			Year Ended			Year Ended
Your Company Name						Dec-10			Dec-11			Dec-12
						Summary			Summary			Summary
Summary of Income Statement By Cost Type
Sales						$ -			$ -			$ -
	Variable Costs
	Variable Cost of Sales					$ -			$ -			$ -
	Variable Operating Costs					$ -			$ -			$ -
	Variable Interest, Taxes and Other					$ -			$ -			$ -
		Total Variable Costs				$ -			$ -			$ -
		Contribution to Fixed Costs				$ -			$ -			$ -
	Fixed Costs
	Fixed Cost of Sales					$ -			$ -			$ -
	Fixed Operating Costs					$ -			$ -			$ -
	Fixed Interest, Taxes and Other					$ -			$ -			$ -
		Total Fixed Costs				$ -			$ -			$ -
	Net Profit (Loss)					$ -			$ -			$ -
						$ -			$ -			$ -
Variable Cost per $ of Sales						$ -			$ -			$ -
Amount available per $ of Sales to Pay Fixed Costs						$ -			$ -			$ -
Contribution Margin						0.00%			0.00%			0.00%
Breakeven Sales based on EBIT						$ -			$ -			$ -
	0					$ -			$ -			$ -
	0					0			0			0
Breakeven Sales Based on All Expenses						$ -			$ -			$ -
	0					$ -			$ -			$ -
	0					0			0			0
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

Balances below zero are not ok!

RETURN TO TOC

PV


Introduction to Worksheet This section allows you to enter your assumptions about your cash flows so that a basic present value analysis may be completed. Two analyses are used. The first computes Net Present Value (NPV) and Internal Rate of Return (IRR) from the perspective of the business. The second computes the same analysis from the perspective of the primary investor. For this worksheet you will enter the following: - Assumptions about discount rates - Assumptions about cash flows after Year 3 for the business - Assumptions about cash flows for the primary investor
Assumptions To compute present value cash flows must be forecasted for a longer period than 3 years. For purposes of this analysis it will be assumed that forecasting cash flows for 10 years is adequate.
For the Business Perspective analysis, cash flows for the first 3 years are taken from the projected statements. For years 4 through 10 the student must enter amounts. Interest expense and dividends are excluded from the cash flows because appropriate present value analysis excludes these amounts as they are reflected in the discount rate. Year 0 "Cash used for Investing Activities" is computed by summing up the amounts for the first 3 months of the year. This amount is then subtracted from the year 1 total for "Cash used for Investing Activities." The investment amount in Year 0 is then used in the IRR calculations as the initial investment. All cash flows associated with Equity are excluded. First because from the business perspective one must assume the business is already operating, meaning the equity investment has already been made. Dividends are excluded because, like interest expense, the discount rate should reflect the cost of doing business.
Said another way, the discount rate should reflect the firm's cost of capital, which includes both debt and equity.
For the Individual Investor Perspective all cash flows must be entered. In many respects this analysis could be deemed more appropriate. If you are a small business owner you are interested in how much you must invest and then how much you can get back. Be sure you understand how the business will return cash to the primary investor. This step is often left out. Any cash paid out to the primary investor should be shown as dividends in the business projection. As always, if you have questions contact your professor or Dr. Dungan.
Present Value Analysis from Business Perspecitive
Discount Rate Used for NPV Analysis				7%
			Year	0	1	2	3	4	5	6	7	8	9	10
Cash from Operations					$ -	$ -	$ -
	plus Interest Expense				$ -	$ -	$ -
		Cash from Operations for NPV			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash used for Investing Activities				$ -	$ -	$ -	$ -
Cash from Financing Activities
	(excluding equity transactions)
	New Borrowings (ST & LT)				$ -	$ -	$ -
	Repayments (ST, LT, Other Liab)				$ -	$ -	$ -
		Cash from Financing Activities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash to Business for NPV Analysis				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Present Value of Cash Flow				$ -	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Present Value of Above				$0			by Excel calculation		$0
IRR (Internal Rate of Return)				0%
Present Value Analysis from Primary Investor Perspecitive
Discount Rate Used for NPV Analysis				7%
			Year	0	1	2	3	4	5	6	7	8	9	10
Investment by Primary Investor
Additional Investment by Primary Investor
Cash Received by Primary Investor
Net Cash To Primary Investor				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Present Value of Cash Flow				$ -	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Present Value of Above				$0			by Excel calculation		$0
IRR (Internal Rate of Return)				0%
All rights reserved. Copyright Andy T. Dungan, 2002. No copying, re-publication, or use of this spreadsheet, other than as authorized by Andy T. Dungan or the Southern Oregon University School of Business for its BA 499 students, may be made unless otherwise specifically authorized in writing by Andy T. Dungan or the Dean of the School of Business.

RETURN TO TOC

REPORTS

Introduction to Reports Section The tabs listed after this tab are only for the printable versions of your financial statements. No calculations (other than subtotals and ratio computation) are performed.

Inputs worksheets--all calculations are performed on these sheets

Reports worksheets--used only to create printable versions of your financial statements for use in your Business Plan

RETURN TO TOC

YR-CF


				Your Company Name
				Pro Forma
				Statement of Cash Flows
				for the 12 Month Period Ending
			Dec-10	Dec-11	Dec-12
Cash Flows from Operations
	Net Income		$ -	$ -	$ -
	Depreciation		$ -	$ -	$ -
	Changes in Working Capital
		Accounts Receivable1	$ -	$ -	$ -
		Inventories1	$ -	$ -	$ -
		Other Current Assets1	$ -	$ -	$ -
		Accounts Payable2	$ -	$ -	$ -
		Other Current Liabilities2	$ -	$ -	$ -
		Net Cash Provide by Operating Activities	$ -	$ -	$ -
Cash Flows from Investing Activities
	Purchases of Property and Equipment
		Land	$ -	$ -	$ -
		Buildings	$ -	$ -	$ -
		Building/Leasehold Improvements	$ -	$ -	$ -
		Machinery & Equipment	$ -	$ -	$ -
		Automobiles	$ -	$ -	$ -
		Office Equipment/Other	$ -	$ -	$ -
	Total Property and Equipment		$ -	$ -	$ -
	Acquisition of Other Assets		$ -	$ -	$ -
		Net Cash Used in Investing Activities	$ -	$ -	$ -
Cash Flows from Financing Activities
	Short-term Borrowings		$ -	$ -	$ -
	Repayment of Short-term Borrowings		$ -	$ -	$ -
	Long-term Borrowings		$ -	$ -	$ -
	Repayment of Long-term Borrowings		$ -	$ -	$ -
	Acquire (Repay) Other Liabilities		$ -	$ -	$ -
	Sale of Stock		$ -	$ -	$ -
	Payment of Dividends		$ -	$ -	$ -
		Net Cash Provided by (Used in) Financing Activities	$ -	$ -	$ -
Net Increase (Decrease) in Cash			$ -	$ -	$ -
	Plus Beginning Cash		$ -	$ -	$ -
		Ending Cash	$ -	$ -	$ -
			0	0	0
			0	0	0
1	An increase in a current asset will decrease cash (i.e. not receving cash from a sale means you have less cash)
2	An increase in a current liability will increase cash (i.e. not paying a bill means you have more cash)

YR-IS


					Your Company Name
					Pro Forma
					Income Statement
					for the 12 Month Period Ending
			Dec-10		Dec-11		Dec-12
Sales			$ -	0.0%	$ -	0.0%	$ -	0.0%
Less Cost of Sales:
	Material		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Labor (including benefits)		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Other Cost of Sales		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Total Cost of Sales		$ -	0.0%	$ -	0.0%	$ -	0.0%
		Gross Profit	$ -	0.0%	$ -	0.0%	$ -	0.0%
Operating Expenses
	Personnel		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Depreciation		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 1		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 2		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 3		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 4		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 5		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 6		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 7		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 8		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 9		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 10		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 11		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 12		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 13		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 14		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Oper exp 15		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Other Operating Expenses		$ -	0.0%	$ -	0.0%	$ -	0.0%
		Total Operating Expenses	$ -	0.0%	$ -	0.0%	$ -	0.0%
Earnings Before Interest and Taxes			$ -	0.0%	$ -	0.0%	$ -	0.0%
	Interest Expense		$ -	0.0%	$ -	0.0%	$ -	0.0%
	Other Expense (Income)		$ -	0.0%	$ -	0.0%	$ -	0.0%
Earnings Before Taxes			$ -	0.0%	$ -	0.0%	$ -	0.0%
	Income Taxes		$ -	0.0%	$ -	0.0%	$ -	0.0%
		Net Income	$ -	0.0%	$ -	0.0%	$ -	0.0%
			0		0		0
			0		0		0
Return on Sales			0.00%		0.00%		0.00%
Return on Assets			0.00%		0.00%		0.00%
Return on Equity			0.00%		0.00%		0.00%

YR-BS


			Your Company Name
			Pro Forma
			Balance Sheet
			for the Period Ending
			Dec-09	Dec-10	Dec-11	Dec-12
Assets
	Cash		$ -	$ -	$ -	$ -
	Accounts Receivable		$ -	$ -	$ -	$ -
	Inventory		$ -	$ -	$ -	$ -
	Other Current Assets		$ -	$ -	$ -	$ -
		Total Current Assets	$ -	$ -	$ -	$ -
Property and Equipment
	Land		$ -	$ -	$ -	$ -
	Buildings		$ -	$ -	$ -	$ -
	Building/Leasehold Improvements		$ -	$ -	$ -	$ -
	Machinery & Equipment		$ -	$ -	$ -	$ -
	Automobiles		$ -	$ -	$ -	$ -
	Office Equipment/Other		$ -	$ -	$ -	$ -
		Total Property & Equipment	$ -	$ -	$ -	$ -
less acculumlated depreciation			$ -	$ -	$ -	$ -
		Total Fixed Assets	$ -	$ -	$ -	$ -
	Other Assets		$ -	$ -	$ -	$ -
		Total Assets	$ -	$ -	$ -	$ -
			0	0	0	0
			0	0	0	0
			0	0	0	0
Liabilities and Equity
	Accounts Payable		$ -	$ -	$ -	$ -
	Short-term Loans Payable		$ -	$ -	$ -	$ -
	Other Current Liabilities		$ -	$ -	$ -	$ -
		Total Current Liabilities	$ -	$ -	$ -	$ -
	Long-term Debt		$ -	$ -	$ -	$ -
	Other Liabilities		$ -	$ -	$ -	$ -
		Total Liabilities	$ -	$ -	$ -	$ -
Equity
	Stock and Paid-in Capital		$ -	$ -	$ -	$ -
	Retained Earnings		$ -	$ -	$ -	$ -
	Current Year Earnings		$ -	$ -	$ -	$ -
		Total Equity	$ -	$ -	$ -	$ -
		Total Liabilities and Equity	$ -	$ -	$ -	$ -
			0	0	0	0
			0	0	0	0
Debt/Equity			0.0%	0.0%	0.0%	0.0%
Debt/Total Assets			0.0%	0.0%	0.0%	0.0%

YR-Break


				Your Company Name
				Pro Forma
				Breakeven Analysis
				for the 12 Month Period Ending
			Dec-10	Dec-11	Dec-12
Summary of Income Statement By Cost Type
Sales			$ -	$ -	$ -
	Variable Costs
	Variable Cost of Sales		$ -	$ -	$ -
	Variable Operating Costs		$ -	$ -	$ -
	Variable Interest, Taxes and Other		$ -	$ -	$ -
		Total Variable Costs	$ -	$ -	$ -
		Contribution to Fixed Costs	$ -	$ -	$ -
	Fixed Costs
	Fixed Cost of Sales		$ -	$ -	$ -
	Fixed Operating Costs		$ -	$ -	$ -
	Fixed Interest, Taxes and Other		$ -	$ -	$ -
		Total Fixed Costs	$ -	$ -	$ -
	Net Profit (Loss)		$ -	$ -	$ -
			$ -	$ -	$ -
Margins Analysis
Variable Cost per $ of Sales			$ -	$ -	$ -
Amount available per $ of Sales to Pay Fixed Costs			$ -	$ -	$ -
Contribution Margin			0.00%	0.00%	0.00%
Breakeven Analysis
Breakeven Sales based on EBIT			$ -	$ -	$ -
	0		$ -	$ -	$ -
	0		0	0	0
Breakeven Sales Based on All Expenses			$ -	$ -	$ -
	0		$ -	$ -	$ -
	0		0	0	0

YR-Ratios


		Your Company Name
		Pro Forma
		Ratios
		Dec-09	Dec-10	Dec-11	Dec-12
Short-term Solvency
	Current ratio (CA/CL)	0.00	0.00	0.00	0.00
	Quick ratio (CA-inventory/CL)	0.00	0.00	0.00	0.00
	Cash ratio (Cash/CL)	0.00	0.00	0.00	0.00
Long-term Solvency
	Total Debt ratio (TL/TA)	0.00	0.00	0.00	0.00
	Debt-Equity ratio (TL/TE)	0.00	0.00	0.00	0.00
	Equity Multiplier (TA/TE)	0.00	0.00	0.00	0.00
	Times Interest Earned (EBIT/interest)		0.00	0.00	0.00
	Cash Coverage (EBIT+depreciation/Interest)		0.00	0.00	0.00
Asset Utilization
	Inventory Turnover (CGS/inventory)		0.00	0.00	0.00
	Days' Sales in Inventory (365/Inventory Turnover)		0	0	0
	Receivable Turnover (sales/AR)		0.00	0.00	0.00
	Days' Sales in receivables (365/ Receivable Turnover)		0	0	0
	Total Asset Turnover (sales/TA)		0.00	0.00	0.00
	Capital Intensity (TA/sales)		0.00	0.00	0.00
Profitability Ratios
	Profit Margin (NI/sales)		0.00%	0.00%	0.00%
	ROA (NI/TA)		0.00%	0.00%	0.00%
	ROE (NI/TE)		0.00%	0.00%	0.00%
Dupont Identity
	ROE=(Profit Margin)(TA Turnover)(Equity Mulitpler)		0.00%	0.00%	0.00%
Market Value Ratios		Not computed since not publicly traded
	EPS (NI/# shares)
	PE ratio (price per share/EPS)
	Market to Book (market value/book value)

YR-PV


				Your Company Name
				Pro Forma
				Present Value Analysis
			Dec-09	Dec-10	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19
Present Value Analysis from Business Perspecitive
Cash from Operations				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	plus Interest Expense			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Cash from Operations for NPV		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash used for Investing Activities			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash from Financing Activities
	New Borrowings (ST & LT)			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Repayments (ST, LT, Other Liab)			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Cash from Financing Activities		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash to Business for NPV Analysis			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Present Value of Cash Flow			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Net Present Value of Above			$0			Discount Rate Used for NPV Analysis				7.00%
IRR (Internal Rate of Return)			0.00%
Present Value Analysis from Primary Investor Perspecitive
Investment by Primary Investor			$ -
Additional Investment by Primary Investor				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Cash Received by Primary Investor				$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Net Cash To Primary Investor			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Present Value of Cash Flow			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Net Present Value of Above			$0			Discount Rate Used for NPV Analysis				7.00%
IRR (Internal Rate of Return)			0.00%

Mth-CF

Your Company Name

Pro Forma

Statement of Cash Flows

Annual

for the Month Ending

Total

Jan-10

Feb-10

Mar-10

Apr-10

May-10

Jun-10

Jul-10

Aug-10

Sep-10

Oct-10

Nov-10

Dec-10

Cash Flows from Operations

Net Income

$ -

Depreciation

$ -

Changes in Working Capital

Accounts Receivable1

$ -

Inventories1

$ -

Other Current Assets1

$ -

Accounts Payable2

$ -

Other Current Liabilities2

$ -

Net Cash Provide by Operating Activities

$ -

Cash Flows from Investing Activities

Purchases of Property and Equipment

Land

$ -

Buildings

$ -

Building/Leasehold Improvements

$ -

Machinery & Equipment

$ -

Automobiles

$ -

Office Equipment/Other

$ -

Total Property and Equipment

$ -

Acquisition of Other Assets

$ -

Net Cash Used in Investing Activities

$ -

Cash Flows from Financing Activities

Short-term Borrowings

$ -

Repayment of Short-term Borrowings

$ -

Long-term Borrowings

$ -

Repayment of Long-term Borrowings

$ -

Acquire (Repay) Other Liabilities

$ -

Sale of Stock

$ -

Payment of Dividends

$ -

Net Cash Provided by (Used in) Financing Activities

$ -

Net Increase (Decrease) in Cash

$ -

Plus Beginning Cash

$ -

Ending Cash

$ -

Mth-IS


							Your Company Name
							Pro Forma
							Income Statement								Annual
							for the Month Ending								Total
			Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10	Dec-10
Sales			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
Less Cost of Sales:
	Material		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Labor (including benefits)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Other Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Total Cost of Sales		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
		Gross Profit	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
Operating Expenses
	Personnel		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Depreciation		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 1		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 2		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 3		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 4		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 5		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 6		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 7		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 8		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 9		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 10		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 11		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 12		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 13		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 14		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Oper exp 15		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Other Operating Expenses		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
		Total Operating Expenses	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
Earnings Before Interest and Taxes			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Interest Expense		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Other Expense (Income)		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
Earnings Before Taxes			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
	Income Taxes		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%
		Net Income	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	0.0%

Mth-BS


								Your Company Name
								Pro Forma
			Beginning					Balance Sheet
			Balance					for the Month Ending
			Dec-09	Jan-10	Feb-10	Mar-10	Apr-10	May-10	Jun-10	Jul-10	Aug-10	Sep-10	Oct-10	Nov-10	Dec-10
Assets
	Cash		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Accounts Receivable		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Inventory		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Current Assets		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Current Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Property and Equipment
	Land		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Buildings		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Building/Leasehold Improvements		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Machinery & Equipment		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Automobiles		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Office Equipment/Other		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Property & Equipment	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
less acculumlated depreciation			$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Fixed Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Assets		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Assets	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
			0	0	0	0	0	0	0	0	0	0	0	0	0
			0	0	0	0	0	0	0	0	0	0	0	0	0
			0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities and Equity
	Accounts Payable		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Short-term Loans Payable		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Current Liabilities		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Current Liabilities	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Long-term Debt		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Other Liabilities		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Liabilities	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
Equity
	Stock and Paid-in Capital		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Retained Earnings		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
	Current Year Earnings		$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Equity	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -
		Total Liabilities and Equity	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -	$ -

Assumptions

Financial Assumptions Summary You should have a page in your business plan where you explain your important financial statement assumptions. This page may be better completed in word, but if you wish you can use this blank page. At a minimum your Financial Statement Assumption page should explain your assumptions about unit sales and costs by product, provide an explanation of your operating expenses, and explain your sources of cash (your investors).