Reference no: EM132732842 , Length: Word count : 1050
Write a 700- to 1,050-word financial plan in which you complete the following:
Question 1: Discuss potential cash budget benefits and pitfalls for the business, including how the budget supports the strategic goal of the business to increase revenue by 10% annually.
Question 2: Outline your expected business expenses (e.g. fixed and variable costs, marketing, labor, operations, insurance) and sources of revenue (e.g. funding, sales of products/services).
Question 3: Include an income statement, balance sheet, and cash flow statement.
Question 4: Explain how you will adjust your small business cash budget to manage contingencies (such as emergencies and market shifts) as well as product and distribution shifts.
Question 5: Compare the differences between a cash budget and an operating budget, and explain why both are beneficial.
Question 6: Explain why a budget variance analysis is crucial for the operation of a business, and discuss how often a budget variance analysis should be performed.