Business Plan Financials: Cash vs. Accrual Bookkeeping
By Tim Berry
I hate the buzzwords and general environment related to accounting and financial terms. No wonder business owners shy away from it. “Accrual accounting” sounds like something you do with thumb screws, rack, and chains. But – damn – it matters. If you run a business, you have huge incentive to understand this stuff. And there... Read More »
Standard Business Plan Cash Flow: LivePlan
By Tim Berry
Most of my series on standard business plan financials is generic, meaning that it is about concepts, not business planning software. Of course I’m biased about business plan software, because I believe in LivePlan as the best available solution. I try to keep that out of most of my posts. However, when we look seriously... Read More »
Standard Business Plan Financials: How to Project Cash Flow
By Tim Berry
No matter what your business planning objectives, cash flow is still the most vital resource in the business, and managing cash is the single most important business function. Without cash, you go under. So I always assume cash flow is included in every kind of real business plan. And it is the most important component... Read More »
Standard Business Plan Financials: Important Cash Flow Vocabulary
By Tim Berry
As I continue with my series on standard business plan financials, I want to look at the basic cash flow These words put some people off because they sound like accounting and financial analysis. But they’re good terms to know, especially if you’re running a business. This is important cash flow vocabulary. Cash in business... Read More »
Standard Business Plan Financials: Keep the Balance Simple
By Tim Berry
In standard business plan financials, the balance sheet is a projection, not a recounting of actual money. It links to projected Profit and Loss to help project cash flow. It’s the most important example of the difference between planning and accounting. In accounting, the Balance Sheet statement has exact details broken into categories and sub... Read More »
Standard Business Plan Financials: Projected Balance
By Tim Berry
This is another in a series of posts on standard business plan financials, continuing from last week. “Think of it as your business dashboard, providing a snapshot of the financial health of your company at a specific moment in time. The purpose is simple: balance sheets list assets, liabilities and owner equity, typically in order... Read More »
Standard Business Plan Financials: Projected Profit and Loss
By Tim Berry
Continuing with my series here on standard business plan financials, all taken from my Lean Business Planning site, the Profit and Loss, also called Income Statement, is probably the most standard of all financial statements. And the projected profit and loss, or projected income (or pro-forma profit and loss or pro-forma income) is also the... Read More »
Standard Business Plan Financials: 3 Essential Projections
By Tim Berry
Yesterday I posted here the six key financial terms every business owner or startup leader needs to know. That’s reposted from my site on Lean Business Planning. These six terms work into three essential statements (for past results) or projections (in business plans or anything referring to the future) for standard business plan financials. A... Read More »
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