financial planning and forecasting

... 一、 Financial planning content Assumptions – Financial planning should be to make a prediction for the future, and based  on certain assumptions. Once these assumptions are defeated by  ... needs, the sales is the independent variable, to predict future financial position, must first predict future sales, to increase the accuracy of the  forecasts of future  。 Expectation to the preparation of financial statements  • Financial planning process needs to forecast future  ... Financial planning process needs to forecast future  financial statements, usually are based on projections of sales,  and through sales and balance sheet, income  statement relationship between individual subjects in the ...

Ngày tải lên: 27/06/2014, 20:20

... PAYABLE AND ACCRUED LIABILITIES WILL ALSO GROW IN PROPORTION TO SALES, AND (4) THAT THE 2002 PROFIT MARGIN AND DIVIDEND PAYOUT WILL BE MAINTAINED UNDER THESE CONDITIONS, WHAT WILL THE COMPANY’S FINANCIAL ... EFFECT WOULD THIS HAVE ON ITS AFN AND ITS FINANCIAL RATIOS? ANSWER: [SHOW S17-24 HERE.] THE DSO AND INVENTORY TURNOVER RATIO INDICATE THAT NWC HAS EXCESSIVE INVENTORIES AND RECEIVABLES THE EFFECT OF ... gives good forecasts of financial requirements if the ratios A*/S0 and L*/S0, as well as M and RR, are stable Otherwise, another forecasting technique should be used 17-3 False At low growth rates,...

Ngày tải lên: 01/07/2014, 21:28

... 14 - Financial Planning and Pro Forma Statements  Three important uses: Forecast the amount of external financing ... have on the value of the firm Set appropriate targets for compensation plans 14 - Steps in Financial Forecasting  Forecast sales  Project the assets needed to support sales  Project internally ... of asset grows proportionally with sales  Payables and accruals grow proportionally with sales  2004 profit margin ($54/$2,000 = 2.70%) and payout (40%) will be maintained  Sales are expected...

Ngày tải lên: 06/04/2015, 19:41

... uncertainties and the earnings will be taxed You need to diversify and investigate the international landscape and alternative investments such as tax-free bonds, gold, and even art and collectibles ... with saving and investing your money and let the power of time and compounding work for you • Pay off your debts before the power of time and compounding works against you • Make saving and investing ... viewthe micro picturebecause everyone has his or her own needs and desires, both personal and financial Morgan and JeNell Sibbald Take Morgan and JeNell Sibbald, who have been married for four years...

Ngày tải lên: 29/06/2014, 08:20

... Outline • What Is Financial Planning? • Financial Planning Models: A First Look • The Percentage of Sales Approach • External Financing and Growth • Some Caveats Regarding Financial Planning Models ... financing needed and identify the determinants of a firm’s growth • Understand the four major decision areas involved in long-term financial planning • Understand how capital structure policy and dividend ... Key Concepts and Skills • Understand the financial planning process and how decisions are interrelated • Be able to develop a financial plan using the percentage of...

Ngày tải lên: 07/03/2015, 12:22

... businesses There are dozens of planning guides and planning outlines, books, audio tapes, computer programs and online planning services All of them have things in common and all have differences (In ... are: • Business Planning and Financial Forecasting • Exploring Business Opportunities: a guide for entrepreneurs • Resource Guide for British Columbia Businesses: information and guidelines • ... Competition, Science taxation, statistics and business planning as and Enterprise well as a wide range of business information and interactive business planning tools Both agencies are committed...

Ngày tải lên: 25/01/2014, 13:20

... LIRPC’s finances and financial transactions, their financial operations, management control and safeguards, and any other related financial activities including record keeping and adherence to general ... reviewed and evaluated for completeness and responsiveness according to pre-determined standards and selection criteria Proposals will be deemed responsive only if the proposer responds to and meets ... Director of the Planning Department in Suffolk, the Executive Commissioner of the Nassau County Planning Commission, the Commissioner of Economic Development and Workforce Housing in Suffolk and the...

Ngày tải lên: 19/06/2014, 15:20

... strategic planning preceding the other processes, and operational planning and financial modeling pursued in tandem The horizontal flow reflects links between key topics 4 BUSINESS PLANNING AND FINANCIAL ... strategic and operational planning Strategic planning Operational planning Financial modeling Setting up the model and entering initial balances Articulating the mission and goals Defining markets and ... iii iv BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK PART TWO OPERATIONAL PLANNING AND FINANCIAL MODELING Chapter Using Microfin in Operational Planning 31 3.1...

Ngày tải lên: 09/08/2014, 19:21

... show only income and 41 42 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK FIGURE 3.3 Sample section of the balance sheet expenses related to financial services ... to attract and retain sufficient clients And only by offering products that are efficient and that minimize financial risk can a microfinance institution hope to reach and maintain financial sustainability ... salaries, real value analyses, and financial sustainability calculations (figure 3.2) Rates can be modified monthly for years and and quarterly for years 3, 4, and They must be entered in annual...

Ngày tải lên: 09/08/2014, 19:21

... financial prudence, discipline, and skill In addition to dealing with the legal and regulatory issues relat- 65 66 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK ... Products page and then projecting seasonal demand on the Program/Branch page This approach assumes that clients have two active loans, one standard and one seasonal 82 BUSINESS PLANNING AND FINANCIAL ... Microfin and the handbook’s business planning framework have a “market-driven” orientation, and the model bases projections of active clients on estimates of demand The analysis of clients and markets...

Ngày tải lên: 09/08/2014, 19:21

... divides costs between financial costs and indirect nonfinancial costs Financial costs include all interest payments on portfolio financing loans and unrestricted loans.2 Indirect nonfinancial costs ... changes in portfolio at risk and annual 95 96 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK FIGURE 6.4 Setting portfolio at risk and loan write-off rates write-off ... sections and other operational expenses sections of the Program/Branch and Admin/Head Office pages and in the calculation of financial costs section of the Fin.Sources page 6.2.2 Loan provisioning and...

Ngày tải lên: 09/08/2014, 19:21

... staff left the land and building analysis sections blank 119 120 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK FIGURE 6.22 Analyzing land and buildings divided ... 6.4.4 Land and building analysis This section allows the analysis of any land and buildings owned by the institution (figure 6.22) Land is tracked at the value that appears on the balance sheet and ... dis- 115 116 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK FIGURE 6.19 Allocating administrative nonfinancial costs tribution as for financial costs (see section...

Ngày tải lên: 09/08/2014, 19:21

... BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK 9.2 Annual planning In addition to benchmarks for ongoing variance analysis, the business planning and financial ... relationships and margins for a financial institution (see the sample in annex 2) Income from the credit and savings program and from any investments is summed to arrive at total financial income The financial ... how much it earns on its financial services and how much it pays for its debt financing 141 142 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK The loan loss provision...

Ngày tải lên: 09/08/2014, 19:21

... Income on Investments Total Financial Income Non -Financial Services Income Financial Costs Interest and fees on borrowed funds Interest paid on savings deposits Total Financial Costs TOTAL 166,320 ... identified, and liquidity requirements are set [Fin.Sources] Investment Income Financing Flows and Investment Strategy After planning financing flows, income from investment of excess funds and cost ... #N/A 20,000 #N/A Financial Ratios FY97 FY96 #N/A #N/A Income Statement Analysis Return on Total Assets Financial Cost Ratio Gross Financial Margin Loan Loss Provision Ratio Net Financial Margin...

Ngày tải lên: 09/08/2014, 19:21

... Feb-98 NOTE: In this section, input land and buildings for the entire institution, not just the head office Land Analysis Purchase and sale of Land Total value of land Jan-98 0 0 0 0 Note: Buildings ... Jun-98 Jul-98 Aug-98 Sep-98 10 Oct-98 11 Nov-98 12 Dec-98 Land and Building Analysis Land Analysis Purchase and sale of Land Total value of land Building Analysis Total month's acquisition Undepreciated ... Income Statement Financial Income Interest on loans Commissions and fees incl penalties Indexing income on loans Income on Investments Total Financial Income * Financial Costs Interest and fees on...

Ngày tải lên: 09/08/2014, 19:21

... Program 225 226 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK Secondary reading Waterfield, Charles, and Ann Duval CARE Savings and Credit Sourcebook (New ... loan to the client 223 224 BUSINESS PLANNING AND FINANCIAL MODELING FOR MICROFINANCE INSTITUTIONS: A HANDBOOK In addition to allowing more detailed analysis of financial factors considered previously, ... for Public and Nonprofit Organizations (San Francisco: Jossey-Bass, 1995), chapter 4: Clarifying Organizational Mandates and Mission CGAP Financial Sustainability, Targeting the Poor, and Income...

Ngày tải lên: 09/08/2014, 19:21

... companies and industries chosen 19 Pro forma financial statements (balance sheets, income statements, and sources and uses of cash), a description of planned capital expenditures, and a summary ... inflation affects the value of inventory (and, hence, cost of goods sold), the value of plant and equipment, the value of debt (both longterm and short-term); and so on Given these distortions, the ... of a discussion and bargaining process involving virtually all top and middle management, at least to some degree A completed plan sets performance targets and governs operating and investment...

Ngày tải lên: 14/08/2014, 11:20

... and behaviors towards personal financial planning There are age groups such as 18-24, 25-34, 35-44, 45-54, 55-64 and over 65 with common financial goals and activities that affect financial planning ... personal financial planning for better financial management and brighter future It also suggests academia and public sectors to consider on monitoring and improving people‟s positive financial ... financial planning activities ii Develop financial goals: Periodically analyze financial values and goals are to differentiate needs from wants Specific financial goals are vital to financial planning...

Ngày tải lên: 23/10/2015, 11:38

... scores: trade (exports and imports) and invisibles (payments and receipts for financial and other services) We transformed each measure into a to 100 scale taking 100*(CAPITAL/4) and 100*(CURRENT/8) ... Iceland, India, Israel, Japan, Austria, Belgium, Denmark, Finland, Germany, Ireland, Italy, Jamaica, the Netherlands, Norway, Sweden, Switzerland, Trinidad, the United Kingdom, Australia, and ... liberalization in financial repressed economies have tended to result in speculative bubbles with subsequent financial crashes (See Reinhart and Kaminsky 1998 and Williamson and Mahar 1998 for...

Ngày tải lên: 24/10/2012, 08:50

... for Denmark, Switzerland, Spain, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway and the UK, a threemonth Treasury bill rate for Belgium, Sweden and the US, and a three-month commercial ... equity and residential property price data: Australia, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Norway, Spain, Sweden, Switzerland, the UK and ... at the 95% level in Canada, Finland, the Netherlands, Norway, Sweden, Switzerland, the UK and the US Moreover, while in some countries, (including Finland, the UK and the US) residential property...

Ngày tải lên: 24/10/2012, 09:40