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Financial Planning Jh V2 100202

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John Haftke’s presentation to ravensbourne for Financial Planning

Economia e finançasNegócios
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Business Planning Financial Budgets
Financial Accounts ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Financial Metrics Measuring Wealth How do you know if you're rich?
Types of Wealth INCOME Earn £150k+ / annum ASSETS Own £1m house Ferrari LIQUIDITY £20k Now or £100k Trust fund?
Measures of Wealth Profit (Loss) = Income - Expenses Net Worth (Debt) = Assets - Liabilities Liquidity = Availability of funds
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Financial Statements
Balance Sheet ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Simple Example Balance Sheet
Profit & Loss Statement ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Simple P&L Statement Example BlankCo Trading Profit & Loss Statement dated 30th November 2009 £ (000) INCOME 100 less Cost of Sales (COGS) 25 Gross Profit 75 less General Expenses (Overheads) 62 Net Profit 13
Budgeting ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Budget P&L ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Building a Budget P&L Sales Prices & Volumes Wages Expenses / Overheads Cost of Sales / Stock Movements Profit & Loss Separate Spreadsheets
Sales Forecasting ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Cost of Sales ,[object Object],[object Object],[object Object],[object Object],[object Object]
Wages ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Expenses & Overheads ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Review of P&L Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Budget Cashflow ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Building Cashflow ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Review Cashflow ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Conclusion Remember! You can ignore accounts but not the taxman Advice always costs more in retrospect

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Financial Planning Jh V2 100202

  • 2.
  • 3. Financial Metrics Measuring Wealth How do you know if you're rich?
  • 4. Types of Wealth INCOME Earn £150k+ / annum ASSETS Own £1m house Ferrari LIQUIDITY £20k Now or £100k Trust fund?
  • 5. Measures of Wealth Profit (Loss) = Income - Expenses Net Worth (Debt) = Assets - Liabilities Liquidity = Availability of funds
  • 6.
  • 7.
  • 9.
  • 10. Simple P&L Statement Example BlankCo Trading Profit & Loss Statement dated 30th November 2009 £ (000) INCOME 100 less Cost of Sales (COGS) 25 Gross Profit 75 less General Expenses (Overheads) 62 Net Profit 13
  • 11.
  • 12.
  • 13. Building a Budget P&L Sales Prices & Volumes Wages Expenses / Overheads Cost of Sales / Stock Movements Profit & Loss Separate Spreadsheets
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22. Conclusion Remember! You can ignore accounts but not the taxman Advice always costs more in retrospect