How to Create a Business Financial Plan

SAP Concur published an article detailing how to create a business financial plan. A financial plan is a forward-looking projection of income and expenses that helps determine cash flow, financing needs, and timing for new initiatives. The article outlines core elements including income statement, balance sheet, personnel plan, business ratios, sales forecasts, cash flow projections, income projections, assets and liabilities, and break-even analysis, and provides four key steps to create a financial plan.