BSBSMB406 - Manage small business finances Management Assignment Help

The small business: a small yoga studio

Part 1.

Prepare the outline of a financial plan for a small business. (300 words)

In your plan include descriptions/ explanations of:

• the financial records that will be kept

• the accounting procedures that will be used

• how the financial projections will be calculated—including assumptions made

• whether business capital is required and if it is, how it will be sourced

• the taxation records that will be kept

• the procedures for keeping taxation records

• how debtors will be managed

• the KPIs that will be used as well as an appropriate target for each one

• any financial ratios that will be used

• how the financial targets will be monitored and reviewed

• how other plans and policies will be monitored for their impact on the business’s
bottom line

• how the financial plan will be evaluated and reviewed

Part 2. (200 words)

Create a brochure that could be given to people considering starting their own business
and who want to know the key considerations when developing a business plan and
determining the best methods of managing the business’s finances.

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