Create A Successful Business Plan By Forecasting Financial Statements

“A man who does not think and plan will find trouble right at his door” Confucius

There is no need to explain this famous quote as a realistic plan shows where do we stand, what we own, what we owe and the footsteps we should follow to progress well in the future. Many a business have faced early demise just because of they had not bothered to plan the course of action to achieve the very objective.

The part of financial aspect in making a business plan viable and successful is very crucial as each and every penny needs to be spent in the most efficient way. If the financial statements are not properly forecasted the business would never prosper but will only have time for financial crises management. Fundamental aspects of financial statements underline its necessity for formulating a successful business plan.

Balance Sheet

This part of financial statement explains the state of any firm at a given point of time. It is categorized in to assets, liabilities and net worth. It shows what you have and what you owe so that how much you need to allocate and from what means for future requirements.

Income Statement or Profit Loss Account

Income statement shows the revenue of an entity over a period of time. Forecasting financial statements would help in judging the expected revenue over the period of expected operations. If the income is found to be less than the requirements additional arrangements like public offer etc. need to be done for the augmentation of extra pennies required.

Cash Flow Statement

Inflows and outflows of cash resulted from the day to day functions of the business like investments, operations and financing activities are specified in this section. It also enumerates the financial requirement of every step of operations and hence the corresponding revenue can be ensured. The endeavor should be to make the inflows surpass the outflows in the long run to ensure better profits.

Statements of Retained Earnings

This type of statement describes the movement of the equity held by the owner of the business and its effects on the overall financial state and operations over a given period. Forecasting this would help in incorporating necessary amendments so as to ensure smooth running of business such as dividend payments, merger or splitting up of equities etc.

Business plan is what you aspire to achieve and how you are going to achieve. You may be able to plan it without forecasting financial statements but to ensure it an attainable and viable solution you need to forecast your financial strengths, weakness and liquidity.

How to Budget on your Little Monthly Income

Everyone wants to have a budget plan for their income and save a little amount of money for their future expenses. But most of the people are struggling in this case and they are not capable of creating a realistic and effective budget. You don’t have to be petrified for not knowing how to budget. Anything can be done with the right kind of practice. It might be quite difficult for you to create and follow a budget at first, but you can learn a lot in the sands of time and do great wonders in the future.

First you got to set your mind that you are going to learn how to budget. You must be clear about what you are doing. Some people use to create a budget and follow it just for some experience. Try to do it continuously.  Start with creating a worksheet in your computer or paper. Write down your total income for the month.

After mentioning your income, write down all the things that are required for the month and the amount of money it might consume. Make a list and keep it to yourself. Try to include all your expenses in the list. Don’t leave anything whether it is big or small. Now make it a habit to avoid unnecessary expenses by stop using certain things. It may be difficult at first, but you can see a lot of improvement after a period of time. Now calculate the total amount of expense you make and compare it with your income. You might have got some idea now on how to budget for a small amount of income.

Start practicing this for every month and you will be able to know the nook and corner on how to budget for your income. You must also be able to adjust your budget regularly as per the changing needs. Try to avoid anything that you can’t afford right now. No one can master any act within a little span of time. You got to follow the budget at least for a period of three months to get hold on how to budget for your income.

What You Need to Know About Gold Buffalo Coins and Other Gold Bullion

You’ve probably heard a lot about the gold Buffalo Coin and other gold bullion. You may have even heard that you can create a gold-backed IRA and fund it with the gold Buffalo Coin (among others). If so, you’ve heard right.  But if you’ve never invested in gold or created a gold-backed IRA before, then you probably have questions.  Here are your answers…

Do you need to be a coin collector to purchase gold Buffalo Coin and other gold coins?

No.

People who invest in common coins like the gold Buffalo Coin, the Gold Eagle, the Canadian Maple Leaf and similar gold coins aren’t doing it because they like collecting coins – they’re doing it because these coins are a convenient way to carry and store gold.  Thus you don’t have to know anything about coins like the gold Buffalo Coin in order to invest in gold.

What is a gold-backed IRA?

The United States IRS allows people to create gold-backed IRAs (individual retirement accounts) by investing in real gold. So instead of merely having stocks in gold-mining businesses, you’ll have real gold sitting in a repository.  More information about creating gold backed IRA can be read here http://www.57gold.com/gold-and-silver-resources/how-to-create-a-gold-backed-ira.

 

Acceptable coins for your gold-backed IRA include the gold Buffalo Coin, the US Gold Eagle, the Austrian Philharmonic coin, the Canadian Maple Leaf and the Australian Kangaroo gold coin. You can also create your gold IRA by buying gold bars and other bullion.

However, do note that you need to follow these two rules when creating a gold-backed IRA:

·         The gold in our gold IRA must be .999 pure.

·         You can’t add your existing gold to your gold IRA.  So, for example, if you have gold Buffalo Coins already in your possession, you can’t add them to your gold-backed IRA. Instead, you’ll need to buy gold Buffalo Coins from an approved gold seller like 57Gold.com and direct them to put the coins into your gold-backed IRA.

Do I take physical possession of the gold?

If you’re creating a gold IRA, then the gold will be stored in a trusted repository. However, if you’re investing in gold that’s not going to be used in a gold-backed IRA, then yes… you can take physical possession of it.  You can store your gold Buffalo Coin rolls at home or in the safe repository of your choosing – it’s up to you.

Where can I buy the gold Buffalo coins and other bullion?

You need to go through the trusted companies to get them. Check them out right now, because they have the precious metals and all the answers you need to start investing in gold, silver or platinum right away.

How to Quickly Secure Hard Money Loans in Arizona

One of the advantages of working with hard money lenders in Arizona is that you often can secure your funding more quickly than if you go through traditional mortgage lenders.  However, this is only true if don’t do anything to unintentionally delay the process.  That’s why if you’re seeking out hard money loans in Arizona, you’ll want to keep the following guidelines in mind…

Tip 1: Work with Arizona Hard Money Lenders who’re committed to Fast Turnaround Times

As a real estate investor, you know that you need to be quick in order to take advantage of certain real estate opportunities. That’s why you need to work with hard money lenders in Arizona who’ll approve your application and deploy your hard money as quickly as possible.

One such company is the Active Funding Group. This well-established company is equipped to make same-day or next-day application decisions, plus they’re committed to deploying your hard money in Arizona as quickly as possible. And since they’re the largest specialty finance company in the Desert Southwest, you know your business is in good hands.

Tip 2: Make Sure Properties Are Accessible to Your Arizona Hard Money Lenders

Because hard money loans in Arizona are asset-based loans, your Arizona hard money lender needs to inspect both the exterior and interior of the property before they can approve your request for funding. Some Arizona hard money lenders may make certain exceptions to this inspection requirement, such as in the case of trustee sales. 

Tip 3: Double Check Your Hard Money Loans Application

The better hard money lenders in Arizona (such as the Active Funding Group) seek to expedite the loan application process by allowing you to do complete the application online.  However, if you neglect to complete the Arizona hard money loans application, or if you provide inaccurate information, then you may experience delays.

Read the interesting yahoo voice about hard money loans at http://voices.yahoo.com/hard-money-loans-real-estate-investing-717249.html?cat=54

To that end, be sure that you double check your hard money loans application before you click the submit button. In particular, pay attention to these application details:

•    The address of the property. This is important so that your Arizona hard money lender can properly evaluate the property.

•    Your name, address and telephone number. This needs to be accurate so that your Arizona hard money lender can quickly and easily reach you with your lending decision.

•    The financial details. In other words, what size loan are you requesting?

If you do find a mistake on your Arizona hard money application, be sure to correct it as quickly as possible to help avoid delays.

To get started with your hard money application now, go to Arizona’s largest specialty finance company and read the tips at http://www.activefundinggroup.com/AZ/hard-money-loans.html to know how to get hard money loans from them.