financial-planning-财政计划(课堂PPT)

1.1FinancialPlanning&Forecasting2.2FinancialplanGenerallyspeaking,afinancialplancanbeabudget,aplanforspendingandsavingfutureincome.Thisplanallocatesfutureincometovarioustypesofexpenses,suchasrent,andalsoreservessomeincomeforshort-termandlong-termsavings.Afinancialplancanalsobeaninvestmentplan,whichallocatessavingstovariousassetsorprojects,expectedtogeneratefutureincome,suchasanewbusinessoraproductline,sharesinanexistingbusiness,orarealestate.3.3FinancialplanInbusiness,afinancialplancanrefertothethreeprimaryfinancialstatementscreatedwithinabusinessplan.Financialforecastorfinancialplancanalsorefertoanannualprojectionofincomeandexpensesforacompany,divisionordepartment.Afinancialplancanalsobeanestimationofcashneedsandadecisiononhowtoraisethecash,suchasthroughborrowingorissuingadditionalsharesofacompany.Whileafinancialplanreferstoestimatingfutureincome,expensesandassets,afinancingplanorfinanceplanusuallyrefertothemeansbywhichcashwillbeacquiredtocoverfutureexpenses,forinstancethroughearning,borrowingorusingsavedcash.4.4FinancialplanningFinancialplanningisataskofdetermininghowabusinesswillaffordtoachieveitsstrategicgoalsandobjectives.Usually,acompanycreatesaFinancialPlanimmediatelyafterthevisionandobjectiveshavebeenset.TheFinancialPlandescribeseachoftheactivities,resources,equipmentandmaterialsthatareneededtoachievetheseobjectives,aswellasthetimeframesinvolved.5.5PerformingFinancialPlanningiscriticaltothesuccessofanyorganization.ItprovidestheBusinessPlanwithrigor,byconfirmingthattheobjectivessetareachievablefromafinancialpointofview.ItalsohelpstheCEOtosetfinancialtargetsfortheorganization,andrewardstaffformeetingobjectiveswithinthebudgetset.Theroleoffinancialplanningincludesthreecategories:•Strategicroleoffinancialmanagement•Objectivesoffinancialmanagement•Theplanningcycle6.6Theplanningcycle•Addressingpresentfinancialposition•Determiningfinancialelementsofthebusinessplan•Developingbudgets•Cashflows•Interpretationoffinancialreports•Maintainingrecordsystems•Planningfinancialcontrols•MinimisingfinancialrisksandlossesTheroleoffinancialplanning7.7TheFinancialPlanningactivityinvolvesthefollowingtasksAssessthebusinessenvironmentConfirmthebusinessvisionandobjectivesIdentifythetypesofresourcesneededtoachievetheseobjectivesQuantifytheamountofresource(labor,equipment,materials)CalculatethetotalcostofeachtypeofresourceSummarizethecoststocreateabudgetIdentifyanyrisksandissueswiththebudgetset8.8FinancialMarketsRelevanttoBusinessFinancialNeedsMajorparticipants•Banks•Financialandinsurancecompanies•Merchantbanks•Superannuation/mutualfunds•Companies•Government9.9Overseasanddomesticmarketinfluencesandtrendsinfinancialmarketsandtheirimplicationsforbusinessfinancialneeds•DomesticEconomicgrowth–businesscycleInterestratesInflationEmployment•InternationalPoliticsExchangeratesWorldeventsFinancialMarketsRelevanttoBusinessFinancialNeeds10.10ManagementoffundsSourcesoffunds•InternalOwner’sequityRetainedprofits•ExternalShorttermdebt–Bankoverdraft–BankbillsLong-termdebt–Leasing:operating/financial–TradeCredit–Factoring–Venturecapital–Grants11.11ManagementoffundsFinancialConsiderations•Matchingsourceoffinancetobusinesspurposeandstructure•Factorstoconsiderinfinancingbusinessactivities:Set-upcostsInterestcostsAvailabilityoffundsFlexibilityoffundsLevelofexternalcontrol12.12ManagementoffundsComparisonofdebtandequity•Costsandbenefits•Risks•Gearing/leverageLeverageistheproportionofdebt(externalfinance)andtheproportionofequity(internalfinance)thatisusedtofinancetheactivitiesofabusiness.13.13FinancialForecastingPreparingforecastswillhelpaCEO/CFOtoassesslikelysalesincome,costs,externalfinancingneedsandprofitability.FinancialforecastsareessentialiftheCEO/CFOneedstoraisemoneyfromastakeholder,suchasabank.ButtheyalsoprovidetheCEO/CFOwiththemeanstomonitorperformanceonaperiodicalbasisandtherebyexerciseeffectivefinancialcontrol-arguablythesecondmostimportantmanagementfunctioninrunningabusiness.14.14Break-evenanalysisBreak-evenanalysisidentifiesthepointatwhichabusinessstartstomakeaprofit.TheCEO/CFOcanworkoutthebreak-evenpointusinganytimescale,eg.weekly,monthly,yearly,etc.Tocalculatethebreak-evenpointitisneededtoknowthefollowing:•thetotalfixedcostsofthebusiness-theseincluderentandrates,drawings,loanrepayments,etc;•thetotalvariablecostsforproducingaproduct-theseincludelabour,materialsandpackaging;and•thesellingpriceoftheproduct.15.15CostingandpricingAlthoughaccountantsdefinecostsinseveraldifferentways,thereare,effectively,justtwotypesofcost.Thefirstcostisthatwhichisdirectlyattributabletotheproductorservice.Directcostsincluderawmaterialsandsub-contractwork.Ifthecompanymakesdesks,forexample,thecostofwoodwillbeadirectcost.Withinreason,thecostwillbethesameforeachdesk,nomatterhowmanydesksareproduced.16.16Allothercostsareoverheads,eg.staffsalaries,marketing,rent,ratesandinsurance.Theyalsoincludedepreciation;thatis,anallowanceforwearandtearoncapitalequipment.Overheadsareoftencalledfixedcostsbecause,generally,theyarefixedfort