The crucial part of a business plan is to estimate and develop a plan which denotes the amount of funds a company needs to start a business. Profit and loss statements, balance sheets, cash flows are all a part of the business plan. Profit and Loss statements will include the projections for the monthly expenses of the company. Examples of such monthly expenses are rent, utilities etc. The balance sheet includes the company’s assets, liabilities, and equity. Cash, accounts receivable, and equipment are included under assets, whereas company’s debts and loans are included under liabilities. The statement of cash flows will denote how the money is going in and out of the business. Financial statements may also include Sales Forecast and Personnel Plan if the business has employees working for it. Sales Forecast is a chart which denotes how much a business expects to sell in a year or a month. If a business is involving employees, Personnel plan will show the type of employees working for the business and also their wages, health insurance details etc. The financial section of the business plan also denotes where the company currently stands and where it aspires to be in future. In other words, the financial section shows the long term and short term vision of the business.
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