Repairs and maintenance -- Regular maintenance and repair, including periodic large expenditures such as painting. Advertising -- Include desired sales volume and classified directory advertising expenses.
Car, delivery and travel -- Include charges if personal car is used in business, including parking, tolls, buying trips, etc. Accounting and legal -- Outside professional services. Fixed Expenses! Rent -- List only real estate used in the business! Depreciation -- Amortization of capital assets. Utilities -- Water, heat, light, etc. Insurance -- Fire or liability on property or products. Include workers' compensation.
Loan repayments -- Interest on outstanding loans. Miscellaneous -- Unspecified; small expenditures without separate accounts. Net Profit loss! Subtract total expenses from gross profit before taxes Taxes! Include inventory and sales taxes, excise tax, real estate tax, etc. Subtract taxes from net profit before taxes after taxes Annual Total!
For each of the sales and expense items in your income projection statement, add all the monthly figures across the table and put the results in the annual total column. Annual Percentage!
Loan repayments 1. Your debt load for a given month will vary depending on the repayment schedule of the loan. Commercial loans are typically figured on different schedules; for example, some of your equipment may be paid on monthly installments, other equipment may be on a quarterly installment schedule, and a capital asset loan may be repaid in annual installments.
This will help you monitor the amount of money from your business that is going to debt service. The income statement is usually attached to the balance sheet.
The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. Assets List anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from the original costs of acquiring the assets.
Current Assets! Cash -- List cash and resources that can be converted into cash within 12 months of the date of the balance sheet or during one established cycle of operations. Include money on hand and demand deposits in the bank, e. Petty cash -- If your business has a fund for small miscellaneous expenditures, include the total here. Accounts receivable -- The amounts due from customers in payment for merchandise or services. Inventory -- Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale.
Short-term investments -- Also called temporary investments in marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market value, whichever is less. Prepaid expenses -- Goods, benefits or services a business buys or rents in advance.
Examples are office supplies, insurance protection and floor space. Long-term investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and no intended for resale.
Fixed assets, except for land, are listed at cost less depreciation. Fixed assets may be leased. Depending on the leasing arrangement, both the value and the liability of the leased property may need to be listed on the balance sheet. Land -- List original purchase price without allowances for market value. Typically they include the following:! Accounts payable -- Amounts owed to suppliers for goods and services purchased in connection with business operations.
Notes payable -- The balance of principal die to pay off short-term debt for borrowed funds. Also include the current amount due of total balance on notes whose terms exceed 12 months.
Interest payable -- Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business.
Taxes payable -- Amounts estimated by an accountant to have been incurred during the accounting period. Payroll accrual -- Salaries and wages currently owed. Long-term Liabilities Notes payable -- List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operations.
Net Worth Also called owner's equity, net worth is the claim of the owner s on the assets of the business. In proprietorship or partnership, equity is each owner's original investment plus any earnings or withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match at of total assets.
Your final plan may vary according to your needs or because of the individual requirements of your lender. What Are the Benefits? Every business can benefit from the preparation of a carefully written plan. There are two main purposes for writing that plan: 1. To serve as a guide during the lifetime of the business. It is the blueprint of your business and will provide you with the tools for analysis and change. A business plan is a requirement if you are planning to seek a loan.
It will provide potential lenders with detailed information on all aspects of your company's past and current operations and provide future projections. Business Plan Outline I. Cover sheet Serves as the title page of your business plan. It should contain the following:! Name of the company! Company address! Company phone number include area code! Logo if you have one! Names titles addresses phone numbers include area code of owners!
Month and year your plan was issued! Name of preparer II. This is the thesis statement and includes business plan objectives. Use the key words who, what, where, when, why, how, and how much to briefly tell about the following:! What your company is also who what where and when. What your objectives are.
If you need a loan why you need it. How much you need. Why you will be successful. How and when you plan to repay your loan. Table of contents A page listing the major topics and references. The business Covers the details of your business. Include information about your industry in general, and your business in particular. Address the following:! Legal structure -- Tell what legal structure you have chosen and state reasons for your choice. Description of the business -- Detail your business.
Tell about your history present status and future projections. Outline your product or service in terms of marketability. Project a sense of what you expect to accomplish in the next few years.
Products or services -- Give a detailed description of your products from raw materials to finished items. Tell about your manufacturing process. If you provide a service tell what it is how it is provided and why it is unique. List future products or services you plan to provide. Location -- Describe site and why it was chosen. If location is important to your marketing plan focus on this in the marketing section below.
Management -- Describe who is behind the business. For each owner tell about responsibilities and abilities. Support with resumes. Personnel -- Who will be doing the work why are they qualified what is their wage what are their responsibilities? Methods of record keeping -- What accounting system will you use? Who will do your record keeping? Do you have a plan to help you use your records in analyzing your business?
Insurance -- What kinds of insurance will you need? What will these cost and who will you use for a carrier? Security -- Address security in terms of inventory control and theft of information. Marketing Covers the details of your marketing plan. Include information about the total market with emphasis on your target market. Identify your customers and tell about the means to make your product or service available to them. Target market -- Identify characteristics of your customers.
Tell how you arrived at your results. Back up information with demographics questionnaires and surveys. Project size of your market. Competition -- Evaluate indirect and direct competition. Show how you can compete. Evaluate competition in terms of location market and business history. Methods of distribution -- Tell about the manner in which products and services will be made available to the customer. Back up decisions with statistical reports rate sheets etc.
Advertising -- How will your advertising be tailored to your target market? Include rate sheets promotional material and time lines for your advertising campaign.
Pricing -- Pricing will be determined as a result of market research and costing your product or service. Tell how you arrived at your pricing structure and back it up with materials from your research. Product design -- Answer key questions regarding product design and packaging. Include graphics and proprietary rights information. Timing of market entry -- Tell when you plan to enter the market and how you arrived at your decision.
Location -- If your choice of location is related to target market cover it in this section of your business plan. See location in the business section of this outline. Industry trends -- Give current trends project how the market may change and what you plan to do to keep up. The following are the major documents you will want to include in your business plan. The work is easier if these are done in the order presented. Summary of financial needs -- This is an outline indicating why you are applying for a loan and how much you need.
Sources and uses of funds statement -- It will be necessary for you to tell how you intend to disperse the loan funds. Back up your statement with supporting data. Cash flow statement budget -- This document projects what your business plan means in terms of dollars.
It shows cash inflow and outflow over a period of time and is used for internal planning. Cash flow statements show both how much and when cash must flow in and out of your business. Three-year income projection -- A pro forma income statement showing your projections for your company for the next three years.
Use the pro forma cash flow statement for the first year's figures and project the next according to economic and industry trends. Break-even analysis -- The break-even point is when a company's expenses exactly match the sales or service volume.
It can be expressed in total dollars or revenue exactly offset by total expenses or total units of production cost of which exactly equals the income derived by their sales. This analysis can be done either mathematically or graphically. Note: The following are actual performance statements reflecting the activity of your business in the past.
If you are a new business owner your financial section will end here and you will add a personal financial history. If you are an established business you will include the actual performance statements that follow. Balance sheet -- Shows the condition of the business as of a fixed date. It is a picture of your firm's financial condition at a particular moment and will show you whether your financial position is strong or weak. It is usually done at the close of an accounting period and contains assets liabilities and net worth.
Income profit and loss statement -- Shows your business financial activity over a period of time monthly annually. It is a moving picture showing what has happened in your business and is an excellent tool for assessing your business. Your ledger is closed and balanced and the revenue and expense totals transferred to this statement.
Business financial history -- This is a summary of financial information about your company from its start to the present. The business financial history and loan application are usually the same. Supporting documents These are the records that back up the statements and decisions made in the three main parts of your business plan.
A guide to selecting and specifying cross-laminated timber for various building applications. Provides information on a variety of floor framing and wood structural panel products that can be used in floor construction. Includes product descriptions and specification recommendations for glulam. Includes product descriptions and specification recommendations for I-joist.
Includes product descriptions and specification recommendations for structural panels. Includes application of structural panel sheathing for roofs, preframed roof panels, long span systems, soffits and roof diaphragms.
Includes product descriptions and specification recommendations for structural composite lumber. Includes application recommendations for APA structural panel wall sheathing, single-wall siding and panel and lap siding installation over sheathing.
Siding joint details, siding patterns and grades, exterior finish recommendations and panel shear wall construction are also covered. Simple steps to proper installation that ensures glulam beams perform as designed.
Issued October Overview of engineered wood products and the applications in which they are used. Volume 1 of the JLC Field Guide is the ultimate visual guide to building a sound structure and durable exterior shell. It's packed with professional details and proven techniques that have been successfully developed by leading builders, remodelers, subcontractors, engineers and architects.
This volume is a visual guide to every stage of constructing a durable, high-quality shell on a firm foundation. And it features over detailed technical drawings and concise instructions on the fundamental principles, proven techniques, and practical rules of thumb for every builder and remodeler.
Spiral bound with heavy-duty cover to give you years of practical on-the-job guidance on virtually every aspect of residential building and remodeling. Summary: This is a guide to framing any gable, Dutch, Tudor, California, gambrel, shed, or gazebo roof -- including irregular roofs that can stump even experienced roof cutters. This book takes you through every measurement and every cut on each type of roof so you can understand exactly what's required.
The author explains how to use an inexpensive hand-held calculator to figure any common, hip, valley, or jack rafter length in seconds -- including rafters on irregular roofs and rafter pitches or lengths that aren't in any rafter table.
The book is concerned with the business of residential construction, including the maintenance, restoration, renovation, and construction of private homes and related properties.
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