Ask the Accounting Community

This message has been cross posted to the following Discussions: IMA Answer Exchange and Small Business Center .
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Greeting to all!

A bit of background - my name is Charlene, I'm a CMA candidate due to take the second part in just 2 weeks!  Presently I work as an Assistant Controller at a manufacturing firm.  Over the last 6 months my husband and I have worked toward starting our own business.  We have recently been in touch with an investor group who has shown interest in our business model.  After review of a summary plan they have requested a detailed business plan to be delivered in about a month.

As the company CFO this is a responsibility I must complete, with of course the assistance of the CEO.  I realize how important this is, it could determine the yay or nay decision.  Since this will be my first real Business Plan I'm feeling a little overwhelmed.  In terms of establishing accounting processes, internal controls and producing financials I feel confident but this.......not so much.  I was wondering if anyone could offer some advice or suggestions they wouldn't mind sharing with me?  What should I include, what should I not?  Should I include a 3 year projection, 5 year?  Should I do a discounted cash flow analysis or just an undiscounted payback period?  Besides the standard ROI what other metics should be included?  Is there a particular business plan software I should invest in?  So many questions!  Any suggestions would be greatly appreciated!

Thank You!

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Nanette Karin
Accountant
CONTINUUM COMMERCE LLC
Woodland Hills CA
United States
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Charlene,

I work with an organization called SCORE.  They offer free counseling for people like you.  Before you do that, my recommendation would be to follow this link:  http://www.score.org/resources/tab-a

You will find tons of information and templates there.  Just as important, when you have had a chance to look at all of the information available, find yourself a counselor.  My first recommendation would be to find a counselor that you can meet with face to face.  If that is not possible, I would be happy to put you in touch with someone in the Los Angeles chapter that can help you via email.

Best regards,

Nan Karin




Original Message:
Sent: 06-16-2012 11:58 PM
From: Charlene Main
Subject: Business Plan for Small Business

This message has been cross posted to the following Discussions: IMA Answer Exchange and Small Business Center .
-------------------------------------------

Greeting to all!

A bit of background - my name is Charlene, I'm a CMA candidate due to take the second part in just 2 weeks!  Presently I work as an Assistant Controller at a manufacturing firm.  Over the last 6 months my husband and I have worked toward starting our own business.  We have recently been in touch with an investor group who has shown interest in our business model.  After review of a summary plan they have requested a detailed business plan to be delivered in about a month.

As the company CFO this is a responsibility I must complete, with of course the assistance of the CEO.  I realize how important this is, it could determine the yay or nay decision.  Since this will be my first real Business Plan I'm feeling a little overwhelmed.  In terms of establishing accounting processes, internal controls and producing financials I feel confident but this.......not so much.  I was wondering if anyone could offer some advice or suggestions they wouldn't mind sharing with me?  What should I include, what should I not?  Should I include a 3 year projection, 5 year?  Should I do a discounted cash flow analysis or just an undiscounted payback period?  Besides the standard ROI what other metics should be included?  Is there a particular business plan software I should invest in?  So many questions!  Any suggestions would be greatly appreciated!

Thank You!