The purpose of the financial plan in business planning. Enterprise financial plan

This section should consider the company's financial security and ways to make the most efficient use of cash in accordance with the analysis of the market situation and the forecast sales of goods and services over subsequent periods.

About how to write it correctly, and will be discussed in our article.

What should be reflected here?

The paragraph should include the following indicators and documents:

  • forecast values financial results;
  • cash flow project;
  • planned balance of the company;
  • a number of key proposals and key indicators of a financial nature;
  • profit and loss forecast.

The forecast period is usually considered to be a period of time 3 to 5 years.

Opening costs

Writing a section involves a mandatory breakdown of the costs required to open a business. Each of these activities can be included in one of the following groups:

  • organization of the physical space, including the preparation of the premises and the required number of workplaces, the arrangement of a suitable space for working with consumers, etc.;
  • acquisition of the required amount of equipment, its installation and configuration (industrial, commercial or office);
  • installation of communication systems - telephone and Internet;
  • providing the object with a burglar alarm if necessary;
  • payment for the services of such categories of employees as a lawyer, accountant or any other professional assistant;
  • payment of tax contributions, payment of state duty during the procedure official registration, as well as obtaining various kinds of licenses (if required by the planned type of activity);
  • payment for the services of a designer who makes signs, posters, indoor advertising stands, etc.;
  • payment for services recruitment agency, which will select any necessary personnel.

For information on how to properly plan this item, see the following video:

Monthly expenses

Almost any newly opened enterprise cannot do without the following fixed costs:

  • rent - the amount depends on the area and location of the premises;
  • monthly payment for telephone and Internet, other utility costs;
  • payment for accounting or other support;
  • other expenses of the office plan;
  • payment of salaries to employees;
  • payment of taxes and mandatory contributions;
  • advertising placement.

Sources of funds

The financial part of the project assumes the existence of certain financing schemes based on individual characteristics business.

So, the necessary funds can be obtained:

  • from an internal source;
  • from attracted investments;
  • from borrowed money;
  • from a mixed (complex, combined) source.

Internal sources are the company's own finances or the amount of its profit and depreciation. The most acceptable and cheapest way to expand the activities of the organization is profit reinvestment.

External sources add up:

  • from attracted investments- usually in this case, the investor is interested in a high level of profit in the company itself;
  • from borrowed- the use of funds is carried out in accordance with the terms of the contract.

The implementation of the funding strategy also involves a combination of the following financial instruments representing funds from different sources:

  • an investor can acquire a share of the company;
  • application of venture financing;
  • obtaining the necessary funds through a public or private offer valuable papers;
  • depository receipt;
  • obtaining a commercial, government or bank loan;
  • implementation of insurance of operations of export character.

cash flows

It is possible to achieve effective financial management only by applying planning in relation to each financial resource and its source. This section must necessarily provide for the development and adoption of targets that have a quantitative and qualitative expression, as well as clearly define the ways, following which you can achieve the desired with the least loss.

called cash flow current cash flow. Otherwise, it is called the difference between the amounts of receipts and payments of funds that occurred in the company during a certain period of time.

The business plan should analyze the movement of these flows, that is, determine the moments and amounts of cash inflow and outflow. At the same time, the calculation should be based on operating (current) activities.

The value of the flow determines such basic indicators of the company as self-financing, financial strength, potential opportunities and profitability.

The organization must have a sum of money that can cover all its obligations. If the minimum required stock is missing, then this can be called the beginning of financial difficulties. The redundancy of the amount of money also cannot be called a positive characteristic, on the contrary, it can mean unprofitable time.

It is also worth paying attention to external and internal factors that have a significant impact on the formation cash flow:

  • Influence of market conditions, applicable taxation system, established procedure for granting credit to a supplier and a buyer (business turnover), accessibility external source funding are external factors.
  • The life cycle, or rather its stage, the presence of seasonality in the production and sale of goods, depreciation policy companies, as well as a number of personal qualities and the level of professionalism of the management staff are internal factors.

When drawing up a company flow management plan, the following principles should be observed:

  • informative reliability and transparency;
  • planning and control;
  • solvency and liquidity;
  • efficiency and rationality.

The "correct" management is always based on prompt and reliable information formed on the basis of accounting and management accounting. The components of this information are a variety of information: the budget for future purchases, the amount of funds in the account and on hand, as well as their movement, suppliers requiring advance payment, the level of accounts payable and receivable, etc. All this is usually drawn up in the form of tables.

The sources of information are no less diverse, so it must be collected and systematized with the utmost care, since the untimeliness or inaccuracy of information can lead to disastrous consequences for the enterprise as a whole.

Income calculation

The expected level of income can be called the climax of the business plan. Income items include revenue from the sale of goods, the performance of work or the provision of services.

Other income includes:

  • proceeds from a non-core activity, including the sale of a fixed asset or material;
  • positive exchange rate difference;
  • receiving interest on a previously granted loan, etc.

So, the calculation of the total income of the company is to sum the proceeds from the main activity and other funds received.

How to properly compose a section?

The financial plan should determine the range of actions that allows you to get the maximum amount of profit against the backdrop of minimal cost. The basics of its competent compilation:

  • Well-defined and well-defined goals. It should be remembered that the goal is formed depending on the financial capabilities of the enterprise, but not vice versa. If this rule is not observed, you can not read further - the business is doomed to failure.
  • Efficient and organized system monitoring and control of performed actions in relation to the goals. This allows you to constantly "keep abreast" and control the progress towards the tasks.
  • A clear forecast of the project payback with a monthly breakdown. If the implementation of the project involves a long-term, then the breakdown of the first year should be done monthly, and each subsequent period - quarterly.

Federal Agency for Education

State educational institution
higher vocational education
"St. Petersburg State
University of Engineering and Economics"

Faculty of Entrepreneurship and Finance

Department of Finance and Banking

Coursework by discipline

FINANCIAL MANAGEMENT

Completed by: Alekseeva Anastasia Bakhtierovna

3rd year student 3.10 term of study

specialty 080105 "Finance and Credit"

Group 8/3371

Number record book 33980/07

Signature___________

Checked: ___________________________

Grade:______ Date_________________

Signature____________

St. Petersburg

In a rapidly changing economy, it is essential for managers to take appropriate responses in a timely manner. Invaluable assistance here is provided by planning, which allows you to analyze the entire range of future business operations. It is on the basis of planning the further development of the enterprise that there is a real opportunity to minimize the internal and part of the external risks of the company, to maintain the flexibility of production management. If work without a plan is a forced reaction to events that have already occurred, then activity based on a plan is a managerial reaction to expected and planned phenomena.

The relevance of the business plan is predetermined by the fact that not a single serious management decision can be made without a business plan presented in one form or another.

In difficult economic conditions of the period of transition to the market, the business plan of an enterprise should, first of all, solve the problems of improving its financial condition. In this regard, consideration of the financial aspect of the business plan is most relevant.

In the first chapter term paper will be considered: characteristics of the market environment of the enterprise; state regulation financial activities enterprises; functions, goals and objectives of financial management; financial mechanism and financial instruments.

In the second chapter, we will briefly consider the business plan of the enterprise, and the financial section of the business plan will be disclosed in more detail.

In the third chapter, we will develop a financial plan for the production of confectionery.

In a broad sense, the market is a sphere of manifestation of economic relations arising between people in the process of production, distribution, exchange and consumption. In a narrower sense, the market is the sphere of commodity circulation and the associated set of commodity-money relations that arise between producers (sellers) and consumers (buyers) in the process of buying and selling goods.

An extended interpretation reveals a very important essential aspect of the market, which makes it possible to determine its place and role in the process of reproduction: the market provides an organic connection between production and consumption, is influenced by them and itself influences them. The market determines the real volumes and structure of various needs, the social significance of the production product and the labor spent on its manufacture, establishes the relationship between supply and demand, which forms a certain level of prices for goods and services.

The desire to gain an advantage in the market stimulates intensive innovative activity manufacturers, aimed at the timely renewal of the technical and technological base of the enterprise, the development of new types of products and services, and also enhances the motivation of employees to improve their skills, creative and high-performance work.

Market relations are of a general nature, extend to all economic spheres and regions of the country, penetrate into all parts of the economic system of the state. Many subjects enter into these relations, and a variety of goods and services enter the sphere of circulation, which formulates a complex and multidimensional market structure.

The greatest coverage of market entities, their grouping taking into account the specific features of market behavior is achieved by identifying five main types of markets:

consumer market - individuals and households who buy goods or receive services for personal consumption;

Producer market - a set of individuals and enterprises that buy goods to use them in the production of other goods and services;

· the market of intermediate sellers (intermediaries) - a set of persons and organizations that become the owners of goods for resale or leasing them to other consumers with a profit for themselves;

· the market of public institutions that buy goods and services for public utilities or to support the activities of various non-profit organizations;

international market - foreign buyers, consumers, manufacturers, resellers.

The uninterrupted functioning of such a complex and multi-level system as the market requires a highly developed and widely branched general and special infrastructure that takes into account market features. The market infrastructure is made up of a set of organizations (institutions) with different activities, ensuring effective interaction between commodity producers and other market agents that carry out the circulation of goods, the promotion of the latter from the sphere of production to the sphere of consumption.

The most important elements of the market infrastructure include: commercial information centers, commodity, stock, currency exchanges; commercial, investment, emission, credit and other banks; transport and storage networks; communication systems, etc.

Principles of behavior of business entities in the market:

1. A special place is occupied by the principle social partnership, which, based on the breadth of coverage of behavioral aspects and directions for their implementation, belongs to the basic ones, and therefore defines any developed market economy as socially oriented.

2. Another important principle of behavior in the market is the principle of free enterprise.

In order to create a favorable economic environment, it is necessary to develop and comply with certain ethical standards behavior of business entities in any market. They, along with general ethical values(mutual trust, decency, conscientiousness, honesty, respect for a person, faith in his strength, high motivation for creative work) also include the rules of ethical behavior in business: loyalty to the word and helpfulness in relationships, business honesty and partner reliability, compliance trade secret and other rules that meet the highest standards of business honor. All this taken together contributes to the formation of the company's image as a partner with whom long-term, reliable and mutually beneficial cooperation is possible, which is vital in a rapidly changing market environment.

IN modern conditions The effectiveness of enterprises' activities largely depends on the state. The state influences all spheres economic activity society by performing legal, economic, social, defense, managerial and other functions, tk. the market cannot regulate economic and social processes in the interests of the whole society. The prerogative of the state is to ensure proper law and order in the country and its national security, which is the basis for the development of entrepreneurship and the economy.

State regulation in market conditions is a legislatively formalized system of external influence on the finances of enterprises.

The state forms financial policy at the macro level and implements legislative regulation micro level finance. It determines the procedure for the formation, distribution and use of centralized funds of financial resources, which serve as one of the sources of financing for enterprises.

The main directions of state regulation of the financial activities of enterprises are: tax system, pricing, foreign economic activity, money circulation, lending, forms of payments and settlements, organization of circulation of securities, budget financing, composition and competence of bodies government controlled in solving financial issues, state guarantees, licensing certain types activities.

The mechanism of state influence on entrepreneurial activity is economic (indirect) and administrative (direct) methods. They should be used in combination when conducting fiscal, investment, price, depreciation, monetary and other policies in such a way as not to destroy market fundamentals and prevent crisis phenomena.

The economic methods (indirect) of the state's influence on entrepreneurial activity are quite diverse. The main ones are: taxes; ways to redistribute income and resources; pricing; state entrepreneurial activity; credit and financial mechanisms, etc.

Administrative methods (direct) should be used if economic methods unacceptable or not effective enough. These include: restrictions; prohibitions; limits; quoting; and etc.

Economic and administrative methods have an impact on the financial activities of enterprises.

Enterprise finances serve as the main instrument of state regulation of the economy. With their help, the regulation of the reproduction of the produced product is carried out, the financing of the needs of expanded reproduction is ensured on the basis of the optimal ratio between the funds allocated for consumption and for accumulation. Enterprise finance can be used to regulate sectoral proportions in a market economy, help accelerate the development of individual sectors of the economy, create new industries and modern technologies, acceleration of scientific and technological progress.

World experience shows that in conditions of economic reform, in crisis situations, the role of the state increases, in conditions of stability and recovery it decreases.

Financial management as science is a system of principles, methods of development and implementation management decisions associated with the formation, distribution and use of financial resources of the enterprise and the organization of the turnover of its funds.

Financial management can be defined as a purposeful activity of the subject of management (top management of the enterprise and its financial services), aimed at achieving the desired financial condition of the managed object (enterprise), in other words, managing the enterprise to achieve its intended financial results and their effectiveness.

The purpose of financial management is to maximize the wealth of owners with the help of a rational financial policy based on: long-term profit maximization; maximization market value firms.

Tasks of financial management:

Ensuring the formation of the volume of financial resources necessary to ensure the intended activities;

Ensuring the most efficient use of financial resources;

Optimization of cash flow;

Cost optimization;

Ensuring profit maximization of the enterprise;

Ensuring minimization of the level of financial risk;

Ensuring the constant financial balance of the enterprise;

Ensuring sustainable growth of economic potential;

Assessment of the potential financial capabilities of the enterprise for the coming periods;

Ensuring target profitability;

Bankruptcy avoidance (anti-crisis management);

Ensuring the current financial stability of the organization.

Through its main goal, financial management performs certain functions. The functions of financial management are divided into two groups: the functions of financial management as control system; functions of financial management as a special area of ​​enterprise management.

The main functions of financial management as a control system: the function of developing the financial strategy of the enterprise; organizational function; information function; the function of analyzing various aspects of the financial activity of the enterprise; planning function; stimulating function; control function.

Functions of financial management as a special area of ​​enterprise management: asset management; capital Management; investment management; cash flows; financial risks.

As a management process, financial management is based on the use of a financial mechanism - a system of organization, planning and use of financial resources. The financial mechanism is a system of basic elements that regulate the process of development and implementation of management decisions in the field of finance, that is, the financial management system of enterprises.

The financial mechanism should contribute to the most complete effective implementation of its functions by finances, their interaction.

As a system of basic elements regulating the process of development and implementation of management decisions in the field of financial activities of enterprises, the financial mechanism includes: state legal regulation; market regulation (supply-demand); internal regulatory mechanism (plans, regulations, procedures, organizational structure); a system of methods and techniques for managing the financial activities of an enterprise (technical and economic calculations, balance sheet, economic and statistical, economic and mathematical, comparisons, etc.).

The structure of the financial mechanism includes financial: instruments (various forms of short- and long-term investment, which are traded on financial markets); techniques and methods; supporting subsystems (personnel, legal, regulatory, information, technical and software).

Financial assets include: cash; contractual right to receive money or any other type of financial assets from another enterprise; a contractual right to exchange financial instruments with another entity for a potentially favorable conditions; shares of another company.

Financial liabilities include contractual obligations: to pay cash or provide some other type of financial asset to another entity; exchange financial instruments with another company on potentially unfavorable terms (in particular, such a situation may arise in the event of a forced sale of receivables).

Financial instruments are subdivided into: primary (cash, securities, loans, accounts payable and receivable for current operations); secondary, or derivatives - contracts and securities issued on the basis of primary contracts and securities (financial options, futures, forward contracts, interest rate swaps, currency swaps).

Methods (techniques) of financial management (methodological tools for assessing the finances of an enterprise) are diverse. The main ones are: budgeting; the financial analysis; management of attraction of borrowed funds; management of free funds placement; investment management; issue, capital management; bankruptcy and anti-crisis management; factoring; leasing; insurance; mortgage transactions; stimulation, etc.

The main predictive-analytical methods and techniques of financial management are divided into formalized and non-formalized.

Non-formalized ones are based on the description of analytical procedures at the logical level, and not with the help of strict analytical dependencies. These include methods: expert assessments, scenarios, psychological, morphological, comparisons, building systems of indicators, analytical tables.

Formalized predictive-analytical methods of financial management are formalized analytical dependencies. These methods, together with models, are used to assess and predict the financial condition of enterprises:

1. Descriptive models are models of a descriptive nature. They are mainly used to evaluate financial condition enterprises, they use accounting information.

2. Predictive models are predictive models used to predict the income of an enterprise and its future financial condition.

3. Normative models make it possible to compare the actual performance of enterprises with the expected ones calculated according to the budget. These models are mainly used in domestic financial analysis, as well as in management accounting, in particular in cost management.

As part of the mechanism of financial management, an important role is given to systems and methods of internal financial control.

Interior financial control is a process organized by the enterprise to check the execution and ensure the implementation of all management decisions in the field of financial strategy and the prevention of crisis situations leading to its bankruptcy.

The financial management system includes both information support and financial management based on the information received.

The current economic situation forces business to be especially attentive to intra-company planning. It is the business plan that is the most progressive form of such planning. Success in the business world is critically dependent on understanding the state of the art. this moment, a clear idea of ​​what the business intends to achieve, and planning the process of transition from one state to another.

A business plan is a document that analyzes the main problems that an entrepreneur may face and determines the main ways to solve them. It is with the help of a business plan that a manager is able to assess what market shocks the business can withstand and adequately meet the emergence of many unexpected problems. It is unrealistic, of course, to eliminate all errors, but business planning allows you to evaluate possible further actions, monitor the state and development of the business, and not just specifically respond to events. That is why one of the most used terms in the modern market economy is "business plan".

“A business plan is a plan for the development of an enterprise, necessary for improving existing and developing new areas of an enterprise, creating new types and forms of business.

A business plan is a comprehensive document that reflects key aspects and data that provides an objective and holistic view of the current and future state of the business. In other words, a business plan is a planned business optimization program. Such a plan can be developed both for a newly created enterprise, and for an existing one. economic organization at the next stage of its development, taking into account the stage of their life cycle.

Business planning allows you to solve the following problems:

Determine the degree of viability and future sustainability of the enterprise, reduce the risk in entrepreneurial activity;

Specify business prospects in the form of a planned system of quantitative and qualitative indicators of development;

Attract the attention of potential investors to the company to its capabilities;

Help to gain a positive planning experience.

Unlike a traditional organization plan, a business plan takes into account the interests of all stakeholders. In addition to investors, such persons are potential consumers and suppliers of the company.

In relation to a novice entrepreneur, a business plan is a tool to attract the attention of investors. The quality of the submitted business plan is an indicator of the viability of the entrepreneur and his business.

The business plan contains the advantages of a flexible combination of production and market, financial and technical, internal and external aspects of the enterprise.

The business plan consists of the following sections:

1. Business concept (summary);

2. Current situation and short info about the enterprise;

3. Characteristics of the business object;

4. Market research and analysis;

5. Organizational plan;

6. Personnel and management;

7. Production plan;

8. Plan of marketing actions;

9. Potential risks;

10. Financial plan and financial strategy.

Both the structure and the content of the business plan are of great importance. Should be paid Special attention on the title page and table of contents. The title page contains the following: title of the plan; the date of its preparation; who is the author of the plan, full name and address of the company for which the plan was developed.

It is useful to reflect title page an indication that the information contained in the document is not subject to disclosure.

The summary is prepared last, after the entire business plan as a whole has been drawn up. It should include all the main provisions and ideas of the business plan, as well as conclusions. The structure of the resume is as follows. First of all, the introduction, which includes the goals of the plan, characterizes the essence of the project.

Then the main content is highlighted: a brief presentation of all key elements business plan, its main parts (nature of activity, demand analysis, project cost, funding sources, etc.).

In conclusion, the main factors of the expected success of the business are summarized, data on the actions of management are presented.

The main part of the business plan is the financial section. It is based on three documents: balance sheet, income statement and balance sheet. This also includes a report on the movement of funds and some other documents. The text of the business plan is intended to include the justification of the parameters that formed the basis of all financial projections. The initial calculated data are: price, sales forecast, cost structure, cost of fixed assets and depreciation, number of employees, their wages, the amount of working capital, the speed of their movement.

In the financial plan, all indicators are based on the estimates contained in the main parts of the business plan. Based on these data, capital investment schedules, the forecast of the cash flow statement, financial statement and balance sheet projections are developed. The financial plan is an informative document. The main place in it is occupied by the balance of cash flow, which shows what cash resources and when they will be needed, what they will be used for and what incomes are expected. The financial plan states the most likely option for business development. The objective of the financial plan is to demonstrate the features of business finance without excessive detail, however, so that the investor gets a comprehensive understanding of the financial mechanism of the project.

The financial cut of the business plan is represented by the sections "Financial plan" and "Funding strategy". The financial plan is the final one and is intended to summarize the materials of all previous sections in cost form. Business organizations are interested in financial planning in order to succeed in economic activity in order to fulfill their obligations to the budget, banks, insurance companies and other institutions in a timely manner. To do this, it is important to calculate income, expenses, profits in advance, take into account the consequences of inflation, market changes, financial market and other factors.

In the "financial plan" section, the issues of financial support of the company and the most efficient use of available funds are considered. The purpose of financial planning is to determine the possible volumes of financial resources, capital and reserves based on forecasting the value of financial indicators. These indicators include, first of all, own working capital, depreciation deductions, accounts payable permanently at the disposal of the enterprise, profit, taxes paid from profit, etc. Financial support for a business is carried out on the basis of a financial plan, which is a balance of its income and spending or budget.

“Financial planning is a kind of management activity aimed at identifying the required amount of financial resources, income, their optimal distribution and use in order to ensure the financial stability of the organization.

The main tasks of financial planning include providing the business process with the necessary financial resources, determining the planned volumes of the necessary funds and directions for their spending; establishment and development of financial relations with the budget, banks, insurance organizations and other economic entities, observance of the interests of shareholders and investors; identification of ways for the most rational investment of capital and reserves for its effective use; increasing profits through rational use funds and exercise control over the education and expenditure of funds and capital investments.

Financial planning is used in capital budgeting and evaluation investment projects, as well as long-term projects, as well as long term strategy financing.

In process financial planning includes an analysis of the company's financial performance for the previous period. The calculation of indicators is based on the main financial documents of the company - balance sheet, income statement, cash flow statement, long-term financial planning and operational financial planning. Financial planning ends with the practical implementation of plans and control over their implementation.

When planning financial indicators, different methods are used: normative, settlement and analytical, balance, economic and mathematical modeling.

The essence and content of the normative method of planning financial indicators is that, on the basis of pre-established norms and technical and economic standards, the enterprise's need for financial resources and their respective sources. Such standards are the rates of taxes, tariff contributions and fees, the norms of depreciation, the norms of the need for working capital, etc.

The calculation-analytical method of planning financial indicators consists in the fact that, based on the analysis of the indicator taken as a base, and the indices of its change in the planning period, the planned value of this indicator is calculated. This method planning is used in the absence of technical and economic standards, and the relationship between indicators can be established not directly, but indirectly, based on an analysis of their dynamics and relationships. This method is based on the use of expert judgment. The calculation and analytical method is usually used when planning profits and incomes, when determining the amount of deductions from profits to accumulation, consumption, reserve, etc. funds.

The use of the balance method of planning financial indicators consists in the fact that by building balances, the link between the available financial resources and the actual need for them is achieved. This method is used when planning the distribution of profits and other financial resources, planning the receipt of funds in various financial funds etc.

Economic and mathematical modeling in the planning of financial indicators allows you to identify a quantitative expression of the relationship between financial indicators and the factors that determine them. This connection is expressed by an economic-mathematical model representing a mathematical description of the economic process, i.e. representation of factors that characterize the structure and patterns of change in a given economic phenomenon with the help of mathematical symbols and techniques.

In the conditions of market relations, the enterprise independently develops its plans, determines the prospects for development, achieving high economic results. Hence, maximum attention is paid to the most complete identification of internal reserves, the efficient use of all types of resources, and the optimization of the organization of production and labor.

General approach: the work of the enterprise should be profitable and provide cash receipts and profits in volumes that satisfy the interested parties (owners, managers, the state, etc.).

“Financial planning in an enterprise is a systematic determination of all its income and expenditure of funds in order to ensure the successful development of an enterprise through the preparation financial plans, the content and purpose of which is determined by the tasks and objects of planning. Financial plans are strategic (perspective), current and operational.

Strategic financial planning is a study of possible ways to develop the finances of commercial organizations for the future. It is designed to ensure high efficiency of management, the growth of financial resources and income, their rational use, and the strengthening of the financial position of the enterprise.

A task strategic planning- identifying the problems that businesses will face in realizing their goals in an uncertain, competitive market environment, and identifying specific ways to solve such problems. It is not only about strategic financial planning, but also about financial forecasting, the development of a probabilistic view of the limiting and desirable states of the enterprise in the future.

The leading financial plan in modern conditions is the current one. It is developed for a year, half a year, a quarter, a month and represents a balance of income and expenses commercial organization(or her budget). It reflects in monetary terms all aspects of the financial and economic activities of the enterprise, the income and savings received by it, and the expenditure of funds. Such a financial plan (budget) is necessary for any commercial organization.

Operational financial planning acquires particular relevance in market conditions. The need to develop such a plan is associated with changes in the terms of settlements and lending to enterprises, large penalties for late payments, large volumes of receivables and payables. Hence - increased attention to the daily balance of receipts and payments, and, if necessary, to the timely adoption of measures to attract additional funds.

The role of operational financial plans, first of all, in determining the specific financial and economic situation, more precisely, the sequence and timing of financial transactions with optimal maneuvering of own, attracted and borrowed financial resources to obtain the greatest financial result.

Operational financial planning includes the preparation and execution of a credit plan, cash plan, payment calendar.

Credit plan - a plan for the receipt of borrowed funds and their return within the terms specified by the agreements. When a business is in need of a short-term loan, Required documents submitted to the bank, and a loan service agreement is concluded.

Cash plan - a plan for the turnover of cash, which reflects the receipts and payments of cash through the cash desk of the enterprise. The main thing is to provide the necessary needs of the enterprise with cash in a timely manner. Cash plans, control over their implementation help to ensure the solvency of the enterprise. Cash plan - quarterly.

Very important role plays a payment calendar - a program for optimizing the operational financial activities of an enterprise, in which the sources of cash receipts (sales proceeds, loans and borrowings, other receipts) are calendar-related with expenses. The payment calendar records income, receipts of funds, relations with the budget for taxes, credit relations. It covers, therefore, the movement of all the funds of the organization. Its main goal is to control solvency and creditworthiness.

The payment calendar is based on the refinement of the specification of planned indicators and the breakdown of these indicators by months, five days, weeks, decades. In the payment calendar, the receipt of money and their expenses are balanced.

The results of the financial activity of the enterprise must represent a specific system of planning and reporting documents. Such documents provide data for the calculation and analysis of the financial performance of the company and serve as the basis for the preparation of financial forecasts. The main financial documents include a forecast of financial results, a cash flow plan, and a project balance.

For the preparation of forecast financial documents, the sales forecast method is used. The revenue forecast in monetary terms is the basis on which other costs are based. Sales volume actively influences the formation of current profit. Unlike the balance sheet, which represents the static situation of the company's finances, the forecast of financial results gives the dynamics of its financial operations. This forecast compares the costs and results of the enterprise, reveals the value net profit.

A cash flow plan demonstrates the process of receipts and expenditures of funds within a business. It helps to determine the need for capital and evaluate the effectiveness of its use. This plan is compiled in dynamics, for example, by year or by quarter. It allows you to control the timing of cash receipts, check the future liquidity of the enterprise.

The project balance records the results of the economic and financial work of the company for reporting period. It acts as the final part of the financial planning documents.

The main thing in the balance method of planning financial indicators is in forecasting key balance sheet items (cash, other current assets- raw materials, amounts receivable, work in progress and finished products, fixed, equity and borrowed capital, as well as current liabilities necessary for the normal functioning of the enterprise). The company's balance sheet as a reporting document is the basis for analyzing financial performance.

When forming a financial plan, an enterprise is able to more successfully solve key tasks: identifying reserves for increasing the enterprise's income, as well as optimal ways to mobilize them; more rational use of financial resources, determination of the most rational direction of investments, providing the greatest profit within the framework of the plan; guarantee of coordination of indicators production plan enterprises with financial resources and, finally, the search and implementation of optimal financial relationships with the budget, banks, and other creditors.

The leaders of many enterprises (especially small ones) believe that they should not waste time on business planning, since the economic situation is changing so quickly that they have to constantly make changes and additions to the original scheme. That is, they believe that in a rapidly changing economic environment, it is enough to keep everything in mind and there is no need to spend time planning their actions.

However, professionals and managers large enterprises consider business planning to be a higher-order activity and believe that it provides many benefits:

Helps the management of the company to think ahead;

Promotes clear coordination of ongoing efforts;

Forms a system of target performance indicators for subsequent control;

Prepares the enterprise for possible sudden changes;

Demonstrates the interconnection of the duties of all officials.

So, it makes sense to develop a business plan even in constantly changing conditions, if there is a desire that the normal activity of the enterprise should not be disturbed by the course of future events.

In general, an increase in the level of financial planning is associated with a more thorough definition of future expenses and incomes, an accurate calculation of the required funds and a correct assessment of future financial results. High-quality financial planning contributes to the stability of the financial situation, the stability of solvency, the constant availability of funds, the optimal use of working capital, the best organization calculations.

1. Goncharuk O.V., Knysh M.I., Shopenko D.V. Financial management in the enterprise. Tutorial. - St. Petersburg: Dmitry Bulanin, 2002. - 264 p.;

2. Kovalev V.V. Introduction to financial management. - M.: Finance and statistics, 2005. - 768s.;

3. Kovalev V.V., Kovalev Vit.V. Enterprise Finance: Proc. - M.: TK Velby, 2003. - 424 p.;

4. Lyubanova T.P., Myasoedova L.V., Gramotenko T.A., Oleinikova Yu.A. Business plan: Educational and practical guide. - M .: "Book service", 2003. - 96s.;

5. Financial management: Textbook / Ed. N.F. Samsonov. - M.: UNITI, 2004. - 468s.;

6. Finance and credit: Proc. allowance / Ed. A.M. Kovaleva. - M.: Finance and statistics, 2003. - 574 p.;

7. Enterprise Finance: Textbook / Ed. N.V. Kolchina. - M.: UNITI, 2003. - 331p.;

8. Ostapenko V.V. Enterprise Finance: Textbook. - M .: Omega - L, 2003. - 392 p.;

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It is hard to imagine a business plan for which you would not have to create calculations. Certain calculations require all parts of the business plan: marketing, operational, production.

But the most important in terms of calculations is the financial part of the business plan. It is she who allows you to identify how profitable and sustainable the business will be created.

The financial part should answer the following questions:

  • How much money will you need to start a business?
  • How much profit will it bring?
  • How soon will the business pay off?
  • How sustainable and profitable will it be?

Each of these questions is answered by one of the parts of the business plan. This means that in the structure of the financial part of the business plan there will be such sections as investment costs, profit and loss forecast, cash flow and project efficiency assessment.

Investment costs

The first thing to do when writing a business plan is to calculate in detail how much it will cost to create a business. This will allow the entrepreneur himself to understand how much money is needed to start a business and whether it is necessary to attract loans.

In this part of the business plan, you need to take into account all the items of expenses associated with starting a business. For clarity, it is worth referring to an example. Consider a business plan for the construction of a car wash for two posts. You will have to invest both in the construction itself and in the purchase of equipment. IN general view the list of investment costs for this business would look like this:

  • Design work
  • Procurement of building materials and construction works
  • Connection to electricity, water supply and other engineering networks
  • Purchase of equipment
  • Installation of equipment

According to Aidar Ismagilov, the owner of the Moidodyr car wash network in Kazan, the construction of a car wash will cost 30-35 thousand rubles per square meter, taking into account design work and making communications. As a result, the amount turns out to be quite solid, so now renting is more popular among novice businessmen, rather than turnkey construction. In this case, the investment plan will include both rent payments before opening a business and renovation of the premises.

Equipment costs will depend on the type of sink. If the car wash is of a manual type, then it will be enough to lay 400 thousand rubles for equipment. But for an automatic car wash, the costs will be at least 300 thousand euros.

For calculations, it is better to take a certain average price for each of the cost items. For example, if you need to calculate the cost of renting real estate, you should take into account not the highest and not the lowest price per square meter, but average price on the market. You can determine it by examining the rental offers in your city.

Another thing is if the supplier and his price are already known in advance. For example, a car wash requires only equipment from a strictly defined manufacturer. Then in the calculations you need to include exactly the prices that he offers.

Knowing the required amount of investment will allow not only to estimate how much money will be needed to start a business, but also how quickly it will pay off.

Profit and Loss Forecast

If you subtract the amount of business expenses from the amount of business income, you can find out what is the net profit. This indicator is much better than income, shows what the state of the business is and how much you need to invest in its further development.

At the beginning of a business, expenses often exceed income, and instead of net profit, there is a net loss. In the first months or even a year of work, this is a normal situation. You should not be afraid of it: the main thing is that the loss is reduced every month.

When making a profit and loss forecast, all indicators should be calculated monthly until the business pays off. At the same time, you should not make the forecast too optimistic: imagine that the income will not be the maximum possible, take the average figures.

Cash Flow

For a business that is still at the start-up stage, it is important to understand not only what its net profit will be. One of the most important indicators is the so-called cash flow or cash flow. By calculating the cash flow, you can determine what the financial condition of the business is and how effective the investment in it is.

Cash flow is calculated as the difference between cash inflows and outflows over a given period. If we return to the car wash example, then in order to calculate the cash flow in the first month of its operation, it is necessary to take net profit for receipts, and the amount of initial investment for outflows.

In this case, it will be more convenient to calculate if the outflows are designated as a negative number. That is, we add a minus sign to the amount of initial investment in a car wash, and add the net profit in the first month of work to the resulting number.

To calculate the cash flow in the second month, you need to find the difference between the result of the first month and the net profit received in the second month. Since the first month turned out to be a negative number, the net profit must be added to it again. The cash flow in all subsequent months is calculated according to the same scheme.

Project efficiency assessment

Having predicted profits and losses, as well as the cash flow of a business, it is necessary to move on to one of the most important sections - evaluating its effectiveness. There are many criteria by which the effectiveness of the project is evaluated. But for a small business, it is enough to evaluate only three of them: profitability, break-even point and payback period.

Profitability business - one of the most important indicators. In general, in the economy there are many different indicators of profitability - return on equity, return on assets, return on investment. All of them allow you to evaluate the effectiveness of a business in its various aspects.

To understand exactly what profitability indicators should be calculated in your business plan, you need to refer to the requirements of the investor or credit institution. If the goal is to evaluate the profitability of the business "for yourself", it will be enough to calculate the overall profitability of the business.

Make it simple. It is enough to divide the profit of the business by the amount of its income, and then multiply the resulting number by 100 to get the result as a percentage.

It is difficult to name the optimal indicator of business profitability. It largely depends on the size of the business, the type of activity of the company. For micro-businesses with revenues up to 10 million rubles, a profitability indicator of 15 - 25% is considered good. How bigger business, the lower the percentage can be. In the case of a car wash, the normal rate of return is from 10 to 30%, says Aidar Ismagilov.

Another indicator that needs to be calculated is break even. It allows you to determine at what income the company will fully cover its costs, but so far will not make a profit. You need to know this in order to understand how strong the business is financially. To find the break-even point, you first need to multiply the business income by its fixed costs, then subtract from the income variable costs, and then divide the first number obtained by the second.

Fixed costs are those that do not depend on the volume of goods produced or services rendered. Businesses incur such expenses even when they are idle. In the case of a car wash, these costs include the salaries of accountants and administrators, public Utilities and communications, depreciation, loan payments, property taxes, and so on.

Variable costs are anything that changes with the volume of production. For example, at a car wash, the costs that change with an increase or decrease in the number of washed cars are the cost of auto chemicals, water consumption, and piecework wages.

Having received a certain number as a result of the calculations, you can correlate it with the income statement. In the month when the business income reaches or exceeds the amount obtained as a result of calculating the break-even point, it will be reached.

Most often, the break-even point is not reached in the first month of the business, especially if it is related to production. According to Aidar Ismagilov, in the case of a car wash, reaching the break-even point depends on the season. If the car wash opened during the dry summer season, when there is little demand for services, they will be unprofitable throughout that season. If the opening took place during the season of high demand, then you can reach the break-even point in the first month.

Payback period business is one of the most important indicators not only for the entrepreneur himself, but also for his potential investors. For example, if the payback period for a business is too long, then it becomes much more difficult to get a loan for it from a bank.

The easiest way to calculate the payback period is if the cash flow has already been calculated. In this case, you need to find the month in which, after adding a positive number of net income with a negative number of initial investments, you get a positive number. This will mean that the profit from the business fully covered initial investment into it.

It is for this reason that it is necessary to calculate cash flow, as well as profits and losses, at least until the payback period is reached. The payback period of investments largely depends on the amount of investment costs. In the case of a car wash, the minimum period is 3 years.

Here are the main indicators that will need to be calculated in a business plan at the start of any business. Of course, this is far from an axiom, and depending on the requirements of investors, the state of the enterprise, its type of activity and other features, additional calculations may be required. Most of them you can do on your own.

The final section of the business plan is the financial plan. This section is necessary and important both for organizations and for their investors and creditors.

The structure and content of the financial plan depend on the potential contact audiences, i.e. from subjects who are potential "readers" of the business plan. If a business plan is developed as an internal document, then the main focus is on determining the sources and amounts of the necessary financial resources, as well as profitability indicators. In a business plan designed to receive external funding, the main attention should be paid to the assessment of short-term liquidity, which confirms the solvency of the organization and is the key to the security of the loan, and only secondarily consider profitability indicators.

The purpose of the development the financial plan is to determine the sources of funding for the activities of the organization, the assessment of the ratio of income and expenditure of financial resources. To achieve this goal, when forming a financial plan, it is necessary:

  • determine the conditions for maximizing the profit of the organization;
  • optimize the capital structure to ensure its financial stability;
  • ensure the investment attractiveness of the organization;
  • create an effective mechanism for managing financial resources (accounting, tax, credit, depreciation and dividend policies).

The development of a financial plan intended for foreign creditors has its own characteristics. In this case, the financial plan should include the following sections as mandatory elements:

  1. profit and loss statement (income statement);
  2. balance sheet (balance sheet);
  3. cash flow plan.

These documents should be formed in accordance with the Generally Accepted Principles accounting(General Accepted Accounting Principles - GAAP).

In domestic practice, the financial plan, as a rule, includes:

  1. forecast of sales volumes;
  2. plan of income and expenses;
  3. plan of cash receipts and payments;
  4. balance of assets and liabilities;
  5. plan for the sources and use of funds.

Forecast of sales volumes. This forecast is developed taking into account the indicators of the marketing plan (see subsection 2.5) and is based on information about the expected sales volumes for each product and the expected unit price of each product. Typically, such a forecast is made for three years in advance. It should be noted that the level of detail in the forecast of sales volumes depends on the length of the period. For the first year, it is advisable to take a month as an interval, for the second year - a quarter, for the third year indicate the total amount of sales for 12 months. The forecast of sales volumes can be presented in the form of a table (Table 2.29).

Income and expense plan make up to determine the magnitude and sources of formation and change in the financial result of the organization. The recommended compilation period is three years, with data for the first year reported monthly. An approximate scheme for the formation of a plan for income and expenses is given in Table. 2.30.


The development of a plan of income and expenses allows the organization to determine such key performance indicators as the profitability of output, profitability, the level of production and non-production costs, the amount of expected net profit.

Cash receipts and payments plan necessary to determine the liquidity and solvency of the organization. The cash flow is due to the peculiarities of the organization's activities and the mismatch in the timing of receipts and disposals of cash.

Movement must be distinguished financial flows, not leading to cash outlays, and pure cash outlays. The first include depreciation and the formation of funds. The latter include proceeds from the sale of goods and services, advances received from customers, funds from the sale of securities, parts of fixed assets, financial investments, loans, loans, etc. The cash receipts and payments plan is necessary to assess the organization's need for cash for its normal functioning. An approximate form of this section is given in Table. 2.31.


Used in planning cash flows, the term "cash" means the difference between real cash receipts and payments. Its amount changes only when the entity actually receives or makes the payment. At the same time, it should be taken into account that the sale of goods and services does not mean automatic receipt of cash, just as the presentation of invoices does not lead to instant payment. Therefore, cash receipts and payments should be shown taking into account the specified intervals.

Balance of assets and liabilities it is recommended to draw up at the beginning and at the end of the first year of the project. It is believed that this subsection of the financial plan is less important than the previous ones, however, for specialists of a credit institution, it is necessary to assess the amount of financial investments in assets of various types, as well as to determine the liabilities that ensure these operations.

The balance sheet consists of two parts: an asset (left side) and a liability (right side), the final total values ​​of which should be equal to each other (Table 2.32). An asset is a list of property that an organization can dispose of. The liability shows to whom and how much she owes.


Plan for Sources and Use of Funds is designed to display the sources of funds and their use, as well as to change the organization's assets over a certain period of time. It makes it possible to determine the relationship between possible sources of funds and working capital organizations. Based on this section, the management of the organization, as well as potential investors, can more accurately assess the financial position, determine the effectiveness of the financial policy and the results of the organization's economic activities. An approximate form of the plan for the sources and use of funds is given in Table. 2.33.


The financial plan should end with a summary paragraph, which provides the required volume and structure of funding sources, an assessment of payback periods and profitability for investors. It should be emphasized that in order to increase the objectivity of the financial plan, when developing it, one should take into account real economic conditions and financial policy of the state.


* Calculations use average data for Russia

Step 9. Business Plan Section: Financial Plan

So, we are now entering the biggest and most important section of your business plan, which contains financial information for the project, determines its cost, and will help investors, business partners, and you assess the ability of the new venture to generate sufficient cash flow to make payments on credit liabilities (payment of interest or dividends, repayment of loans).

When describing the financial results of a project, be sure to include the terms, estimates, and assumptions you rely on. Indicate whether the cost estimate was prepared by you or by an independent appraiser. Remember that logically based forecasts will help you set qualitative goals and achieve quantitative goals.

Please note: if you are planning to open a large (resource-intensive or manufacturing) enterprise and / or if you are going to take out a loan or a loan for its development, the calculations given in these tables will not be enough for you.

In this case, it is highly advisable to seek help in drawing up a business plan, and especially its financial part, from experts. As a result, you will receive a well-written document with sound economic calculations that will make a favorable impression on investors and creditors.


In the section with financial information can be included by law approved formsaccounting and financial reporting. As a rule, three main documents are given: a profit and loss statement, which reflects the company's activities by periods, a cash flow plan (Cash Flo), a balance sheet, which allows you to assess the financial condition of the enterprise at a certain point in time.

From the income statement, you can find out if your business is making a profit and how much, minus all existing expenses. Although this document does not give an idea either about the value of the company (as opposed to the balance sheet of the enterprise), or about the cash that it has.

This data is contained in the cash flow statement, which shows whether the company has enough cash to pay current liabilities (settlements with suppliers, payment wages employees, payment of taxes and other obligatory payments, payments on loans and borrowings, etc.).

However, in order to find out the real value of the company, the company's balance sheet is necessary - the main form of financial statements. It contains information about all liabilities and assets of the company in value terms. Simply put, the asset of the balance sheet contains information about the property and cash of the enterprise, and the liability contains information about the sources of this property and funds. The total assets and liabilities in the balance sheet must match.

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Describe in detail the proposed funding sources and arrangements, loan repayment responsibilities, the guarantee system that you can provide, and indicate the need for additional financial resources, if any. Pay special attention to the description of the current and predictable situation in the market and the economy, offer several different scenarios for the development of events and ways to resolve possible crisis situations.

Prepare forecast and current financial statements, present the financial history of the company and its profit plan, assess the risks that investors and creditors may face, and indicate ways to minimize them.

Information on risks and guarantees is often placed in a separate subsection, which describes external and internal factors that affect a particular type of risk, as well as measures to protect against possible financial losses of the enterprise and the creditor. Information about what problems may arise during the implementation of the project and how the entrepreneur is going to solve them is of great interest to investors.

The depth and analysis of the riskiness of the enterprise depends on the type of activity and the amount of expected losses. Risk is understood as the probability (threat) of loss by the enterprise of part of its resources, loss of income or the appearance of unplanned expenses resulting from the production and financial activities of the company.

There are three main types of risk: commercial, financial and industrial.

    Commercial risk reflects the unreliability of income associated with the competitive environment and sales problems.

    financial risk due to insufficient project financing, inability or unwillingness of the company to repay borrowed funds and interest on them.

    Production risk associated with factors of poor product quality, unreliability of equipment, lack or weakness of supply systems for raw materials and materials, as well as with the ecology of production.
    Provide a clear description of project costs and use of funds.

If you have already taken any loans for the development of your project, indicate the conditions and terms of repayment. You can do this in the form of a loan repayment schedule and interest payments.

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Also provide information on working capital indicating changes during the loan term and the proposed tax payment schedule, attach calculations of the main solvency and liquidity indicators, as well as forecasts for the project's effectiveness.

Please note that the timing of your forecasts must match the timing of the loans or investments you are requesting.

In fact, you should reflect for several periods (monthly, quarterly, yearly) possible fluctuations in the exchange rate of the ruble against the dollar, the list and rates of taxes, inflation of the ruble, capital formation from own funds, loans, issuance of shares, the procedure for repaying loans and loans.

Business Plan: Project Performance Indicators

Evaluation of the effectiveness of an investment project will help the investor determine how much the price of the acquired asset (that is, the amount of investments) corresponds to the expected income, taking into account all the risks of the project. Thus, he will be able to understand whether it is advisable to invest in the project.


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If you registered as an individual entrepreneur, then when writing this section, use the following indicators, which are determined on the basis of the cash flows of the project and its participant: net income, net present value, internal rate of return, need for additional financing, cost and investment profitability indices, term payback.

net income is the profit, net of taxes, received by the company for a certain period of time. Net present value (NPV, NPV - Net Present Value) is the sum of the expected stream of payments, reduced to the value at the present time. Typically, this important indicator is calculated when evaluating the cost-effectiveness of investments for future payment flows.

net income and net present value characterize the excess of total cash receipts over total costs for a given project. In order for an investor to recognize your project as effective and want to invest their money in it, it is necessary that the NPV of your enterprise be positive. Accordingly, the higher this indicator, the higher the investment attractiveness of the project.

Internal rate of return(profit, profitability, return on investment, Internal Rate of Return - IRR) determines the maximum acceptable discount rate at which funds can be invested without loss for the owner. This indicator, which is often abbreviated as IRR (Internal Rate of Return), denotes the discount rate at which the net present value of an investment project is zero.

The simple payback period of an investment project is the period of a simple return on the total net income from the project in which the capital was invested. For an investor, this indicator is not of great interest, since it does not indicate how much and for what period he will be able to receive additional profits.

And here discounted payback period(Discounted payback period) denotes the period for which the funds invested in this project will provide the same amount of profit, discounted (given by the time factor) to the present moment, which could be received from another investment asset during the same time.

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Need for additional funding- this is the maximum value of the absolute value of the negative accumulated balance from investment and operating activities. This indicator indicates the minimum amount of external funding for the project, which is necessary for its implementation. For this reason, the need for additional financing is also called risk capital.

Yield Indices(profitability indexes) reflect the "return" of the project on the funds invested in it. They can be calculated for both discounted and undiscounted cash flows. This indicator is often found in comparison of investment projects that differ from each other in terms of costs and income streams. When evaluating effectiveness, they usually use:

  • cost return index- the ratio of the amount of accumulated revenues to the amount of accumulated costs;
  • discounted cost return index- the ratio of the amount of discounted cash flows to the amount of discounted cash outflows;
  • return on investment index– increased by one unit the ratio of PV to the accumulated volume of investments;
  • discounted investment return index is the ratio of NPV to the accumulated discounted volume of investments increased by one.
Cost and investment return indices are greater than one if the net income for that cash flow is positive. Accordingly, the return indices of discounted costs and investments are greater than one if the net present value for this flow is positive.

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