...III. Financial Plan A. Total Project Cost B. Sources of Financing C. Projected Financial Statements 1. Projected Cash Flow Statement 2. Projected Income Statement 3. Projected Balance Sheet D. Profitability Indices 1. ROI 2. Break-Even Point (Table) E. List of Assumptions Used F. Schedules / Notes to Financial Statements 1. Projected Cost of Goods Sold (Table) 2. Depreciation Schedule (Show how depreciation for machinery and equipment is computed) FINANCIAL PLAN FORMAT A. Total Project Cost Pre-operating Expenses Item 1… xxx Item 2… xxx xxx Marketing Expenses xxx Production Expenses xxx Administrative Expenses xxx TOTAL PROJECT COST for ONE YEAR XXX B. Sources of Financing (Where will you get the funds for starting your business?) EXAMPLE: Personal Contribution Each member of the group will contribute… Loan from a Cooperative Part of the capital will be loaned from a coop account… C. Projected Financial Statements (Table (10 months)) 1. Projected Cash Flow Statement (Sample Format ONLY. You can have your own format) | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | JANUARY | FEBRUARY | MARCH | Cash Inflows | | | | | | | | | | | Item 1 | | | | | | | | | | | Item 2 | | | | | | | | | | | Cash Outflows | |...
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...McBride Financial Marketing Plan University of Phoenix McBride Financial Marketing Plan McBride Financial Services is a mortgage lender that specializes in conventional, FHA, and VA loans for home purchasing and refinancing. The company is presently headquartered in Boise, Idaho and is looking to expand its operations into Wyoming, Montana, North Dakota and South Dakota. McBride Financial Services current mission is to be the preeminent provider of low cost mortgage services using state of the art technology in the five state areas of Idaho, Montana, Wyoming, North Dakota, and South Dakota. With the implementation of a successful marketing plan, these future goals of McBride Financial Services to expand and become a preeminent provider of low cost mortgage services should easily become easily attainable. Naturally, the first step in the marking plan would be to research. The primary interest of McBride Financial Services is to establish a new market of people in need of assistance with financial services. In order to achieve this, McBride Financial Services will need to perform research on the areas current market trends and market values. This information will provide a better understanding of what products to market and how to market the products. The company will also need to look at current internal marketing plans in place to determine strengths and weaknesses, so that a better picture is made as to what areas to improve. This research will also help determine...
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...McBride Financial Services Marketing Plan Faten Hamad BSA/310 February 21, 2011 Prakash Naidu McBride Financial Services Marketing Plan McBride Financial Services provides low cost mortgage keys for individuals. McBride Financial Services provides to retirees, experts, and families are thinking to buy whichever a recreational property or secondary or primary house. McBride Financial Services has decided to revamp its recent marketing plan so that they can contact customers is more probable to fit the profile of the kind of buyer that their services are created for. This paper will show up how McBride Financial Services can reach a gainful commerce during marketing and operations in addition to their target of breaking even monetarily. The kinds of media that could used within McBride’s marketing plans and their goals markets will be outline, and their growth of services to the web will also be covered in the following document. As with any marketing plan, research needs to be conducted and reviewed. This research will help McBride Financial Services to orient better their company toward the needs of the customers and could make decisions that will bring more customers to their individual branch offices. Determining where the company stands with its current customers is important because they can build on their current market strategies to reach new customers and excite current customers with new services. An easy method for McBride to undertake in research...
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...Personal Financial Plan I. Current A. Description Currently I am a full time student, and senior, at majoring in Accounting and Finance. I do not have a part time job and do not plan to work until I graduate. I currently have taken out student loans to support myself through the rest of my college education. My parents pay for insurance payments for my car, cover my phone bill, and provide me with medical insurance. I pay for all the rest of my expenses, including rent, food, gas, and all other daily expenses. I currently have no investments and no substantial assets with a value of over $1000. I graduate in May and have signed a contract with KPMG to start work as an auditor in August after I complete the CPA. I will be auditing companies in the telecommunications industry as well as the financial industry. My starting salary is $47,500 a year plus benefits. I use a car that my parents bought me to commute right now but will purchase my own car and become 100% financially independent of them when I start work in the fall. B. Balance Sheet- (Find in Appendices- #1) C. Cash Flows Statement/Income Statement- (Find in Appendices- #2) D. Mission/Vision Statement Mission Statement- To secure financial stability with minimal leverage by age 50. To have the ability to be generous with my money and consistently give a larger percentage away every year while maintaining my standard of living. Vision Statement- When I start my job I plan to make...
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...Typical Business Plan for a Financial Advisor A.) Executive Summary: The role of the wealth manager is not to simply sell a financial product to a prospect. Instead, a wealth manager’s first concern is developing a comprehensive understanding of the client, a client-centric approach to providing financial solutions. Next the wealth manager must match the right solutions to the client’s needs and desires and ensure he or she receives an exceptional service experience. After that, product and service sales opportunities will naturally follow. Making the transition is clearly a trade-off between short-term results and long-term success. Financial security through goals-based wealth management. As a wealth manager with Merrill Lynch, the emphasis would be on marketing and looking for ways to help clients with a broad array of financial capabilities. The objective is to help clients achieve their goals and dreams, whether it’s living in luxury, providing charitable contributions and/or leaving a legacy for family and friends; consult and advise clients how to best save and structure their investments to reach their goals. 1. What would your specific goals be for new assets under management? a. Year 1 – 10 Million of Assets Under Management ( 10 qualified contacts per day, 1-2 new accounts per week ). b. Year 2 – 20 Million of Assets Under Management ( 20 qualified contacts per day, 2-3 new accounts per week ). c. Year 3 – 30 Million of Assets Under Management ( 30 qualified...
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...Executive Summary Mr. Tom Ho is a married man with a spouse and 2 children. He owns 2 business holding companies. The purpose of this proposal is to outline Mr. Tom Ho's financial status and standing in order to create a financial plan capable of achieving Mr. Tom Ho's life and financial goals. This proposal will address the action plans from several key and fundamental financial aspects, namely, insurance and risk management, savings and investments, education planning, retirement and estate planning and also, tax planning. The action plans and recommendations shall act as a guide in assisting Mr. Tom Ho to achieve sufficient financial protection, lower tax burdens, increased investment (passive) income, good retirement planning and also proper estate planning. The financial plan outlines all the financial planning and strategies that are designed and developed to: • Help to set aside an emergency fund preparing the client for unfortunate events and mishaps. • Provide client with budgeting plan and cash flows planning to support client and family's current lifestyle. • Help client in accumulating sufficient retirement funds to support him and his spouse's retirement lifestyle and needs. • Establish a profitable investment portfolio with balanced assets allocation according to client's risk profile and prospect analysis report. • Assist client in reducing client's tax burden by utilizing tax reliefs and other tax savings methods and strategies...
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...As best you can, comment on yur organization's application of the Corporate Financial Systems depicted in Figures I and IV of Assesing a Firm's Future Financial Health. Do the general principles, if not the exact steps, seem to be evidence? If so, which step(s) seem to be the strongest at your organization? Which step(s) have the most room for improvement? If the principles aren't in place, which step(s) do you believe are most crucial for your organization to implement? What specific problems exist because the principles are missing? How could you influnce the decision-makers at work that the principles should be in place? The steps that are strongest in our orginization are Mission, Managment Goals, Product-market choices, Outlook for sales through future revenues and cost structures, Investment in assests, Finances and Financial planning. We have a clear Mission, that is, to better serve our customers with a commpetivie edge while contiuing to grow our business to be fincialy stabile over the years to come. Management goals are set by each market type within our business. Each market within our business consits of Party, Construction (Big Equipment) and (Home owner), L.P. Gas and Storage including outside stroage. These goals are set on how they are going to grow through past proformance. And where that market is headed in the future and the risk that it carries to grow that market within our orginization. Along with the profit that it is...
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...fin 1060 Budget Killer Quiz My main budget killer is spending money without a plan. Although I am usually tight with spending, I sometimes buy wants rather than necessities. My budget calculations from last week proves my weakness of unnecessary expenses such as Entertainment Expenses, going out to eat and the movies. If I plan to start now, rather than holding off financial planning which is another budget buster relevant to my case, my budget will improve. I can also work on my lack of discipline and not eat out as much, which will reduce my expenses. By creating a financial plan now rather than holding off and improving my lack of discipline, my budget will remain stable. My main budget killer of unplanned spending is similar to my friend Sesen's budget killer problem. We both share the same budget issues, possibly because we are under similar financial circumstances. We are both students receiving support from our parents and loans for financial help, so we don't always realize what exactly we're spending our money on. I think the tracking spending lessons from the Cash Course will aid both of us most in improving our financial planning. Deciphering small amounts spent throughout a couple weeks’ time will show us where exactly our money is going. For me, I can be able to see how much going out to eat and movie tickets add up. I can then use this information in my budgeting, and possibly develop a control system to reduce my expenses. For Sesen, she will...
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...Personal Financial Planning The number one goal of Century Management is to assist our clients in the attainment of financial security through financial planning and money management. The financial planning process combines planning with ongoing advice to help each client make certain that the total financial picture is constantly being evaluated with respect to changing conditions. We make specific recommendations that are designed to provide more efficient use of the client's growing resources, to improve net worth, to reduce income and estate taxes, and to increase after-tax cash flow. A fact-finding session helps us become totally familiar with your current financial situation, as well as your personal goals and priorities. Working from the comprehensive information gathered in the fact-finding session, a detailed financial plan is prepared which documents your current situation, identifies all areas that will be impacted, and makes specific goal-oriented recommendations. Recognizing our ever-changing tax environment, we also work to assure that you are positioned in the most effective manner relative to your personal tax situation. Each recommendation in our analysis is then thoroughly reviewed with you to confirm your understanding and support of each recommendation. If desired, we actively assist in the full implementation of every plan recommendation in conjunction with the other members of your financial advisory team. The following example is a combination...
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...FINANCIAL PLANNING AGREEMENT This Financial Planning Agreement (“Agreement”) is entered into by and between Alpha Global Investments, LLC (“The Adviser”) a registered investment adviser and (“Client”), whereby Client desires to receive financial planning services as outlined below. 1. SERVICES AND FEES The Adviser provides personal financial plans consistent with a client’s financial status, investment objectives and tax status. The Adviser will obtain the necessary financial data from the Client to prepare the financial plan. The financial plan may include information regarding retirement planning, education planning, planning for major purchases, life and disability insurance needs, longterm care needs, and estate planning issues. Client will receive a written financial plan from The Adviser. The financial plan will not include information or analysis with respect to liability risks or tax planning. Fees for the financial planning services referenced above are as stated below. Client may elect to pay the fee upon execution of this Agreement, upon delivery of the written financial plan, or a combination of upfront and arrears. Client may choose to periodically update his/her personal financial plan through The Adviser. Such updates may be conducted at the election of the Client and a new agreement disclosing the services and fees will be required between The Adviser and the Client. FEES: Hourly Fees are billed at $150 per hour and are paid in full at the completion of the Financial...
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...long term goals Short term- I would like to establish a budget for monthly expenses. I would also like to pay off the debt caused by my recent divorce and establish a savings account. Long term- I would like to pay off student loans and eventually start a savings fund for my sons college tuition. 2. Present financial situation vs desired financial situation. Present financial situation- working for hourly pay and barely able to pay the bills. No benefits. No Insurance. Desired financial situation- Better pay ( salary pay). Benefits, Medical insurance. The ability to live comfortably What is necessary to get there?- finish school and obtain a business degree. Get a better paying job abd work my way up. Invest wisely and purchase affordable medical insurance. 3. Action Plan I will need to finish school and obtain my Bachelor’s degree. Get a job with a company that offers a 401K. Establish a savings account that gains interest. Also invest in an IRA for retirement purposes. 4. Importance of retirement planning. It is super important to plan for retirement. Social security only supplements your income while you are retired. You need to plan accordingly, so you are not left financially unstable in your end stages of life. If you are able, you should also have employment that offers payment while you are retired. 5. What effect will federal and state taxes have on estate planning? What will you do to prepare? You will need to prepare accordingly...
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...Financial Plan The financial plan shall be essential if we are to meet our objectives. The intention is to finance growth through cash flow and equity. One of the most important factors will be the payment terms as agreed between the client or customer. We can't push our customers hard on collection days, because they are extremely sensitive and will normally judge us on our terms. Therefore there is need to develop a permanent system of receivables financing systems mutually agreed between both parties. Hence in the financial plan we intend to have the following: 1. A fundamental respect for giving our customers value, and for maintaining a healthy and congenial workplace. 2. Cash flow as first priority, growth second, profits third. 3. Respect for realistic forecasts, and conservative cash flow and financial management. 7.1 Important Assumptions The financial plan depends on important assumptions. From the beginning, we recognize that payment terms and hence collection days are critical, but not a factor we can influence easily. At least we are planning on the problem, and dealing with it. Interest rates, tax rates, and personnel burden are based on conservative assumptions. Some of the more important underlying assumptions are: * We assume a strong economy, without major recession. * We assume, of course, that there are no unforeseen changes in economic policy to make our service immediately obsolete or unwanted. We assume amongst other things a...
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...Financial Plan Ginger Talley AB104 Personal Financial Management Kaplan University Prof. Denise Schoenherr 07/12/2016 I have learned that I am going to have to do some more research and see how I can put some more money towards retirement. From reading the News Release on the ssa website the year that the funds are projected to become depleted I will just become eligible for early retirement and five years later eligible for full retirement and then I would need to work another three years to be able to survive retirement if I am depending on what I paid in from the time that I started working. It will be eight years after the money is depleted that I would need the money that I have been paying in since I was sixteen, that looks like I will never see. So if the money that they are taking out of what I earned is not going to be there when I need it then why am I having the government put aside money for me that will not be there? I think they need to stop taking my money and let me put it into an account so that I can make sure that it will be there when I need it and not depend on the government to make sure that I get back what I have paid in because it looks to me like they are not going to be able to give me my money back. According to Mandell (2014) some retirees are fortunate to have sufficient regular income to meet their retirement needs. However, for most of us, only part of our needed income, most commonly Social Security, is protected against inflation. This...
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...Table of contents 1. Executive Summary .................................................................................................. 3 2. Service Policy and Disclaimers ................................................................................ 4 3. Family Profile ................................................................................................................. 6 4. Goals and Objectives .................................................................................................... 8 4.1. Short-‐term Goals ................................................................................................................ 9 4.2. Mid-‐term Goals .................................................................................................................... 9 4.3. Long-‐term Goals .................................................................................................................. 9 5. Risk Profile ................................................................................................................... 10 5.1. Risk Profile Conclusion .................................................................................................. 12 5.2. Risk Recommendation ......................................................
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...Financial Plan Michael Weis Introduction I graduated from Missouri Southern in May 2013 with a degree in accounting and in finance. I started my career, working for my father at Evergreen Investments. We are a company that our main objective is to manage and grow the Plaster family's money. On a day to day basis, I deal with accounting, management decisions, and also investment decisions. Goals Most of my financial goals are long term. I plan to be able to save enough to live a comfortable life after retirement. I also plan to grow my savings by way of managing my own investments. This goes hand in hand with my job, and I feel like my job will help me manage and grow my own wealth. As far as short term goals go, I would like to save money in order to buy my first house, get married, and live a comfortable life. Financial Statements Balance Sheet | Assets | Liabilities | Current Assets | | Current Liabilities | | Cash | $3,600 | Loans | | Total Current Assets | $3,600 | Credit Card Debt | $500 | Marketable Investments | | Bonus Due in Taxes | | Securities | $24,000 | Total Current Loans | | Total Marketable Securities | $24,000 | Long Term Liabilities | | Household Assets | | Total Liabilities | $500 | Furniture | $2,000 | | | Other Assets | $3,000 | Equity | Total Household Assets | $5,000 | Total Equity | $32,100 | Total Assets | $32,600 | Total Liabilities and Equity | $32,600 | Cash Flow Statement | Revenues | 2013 | Salary...
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