The plan should also have provisions for projecting income statements, performing cash-flow analysis, measuring the progress of the business at regular intervals, and revising all financial plans and goals in light of new information and developments. Additionally, the plan must also provide for the enterpreneurs' compliance with professional standards. All entrepreneurs have plans on how to start their businesses, but few, unless forced, will take the time to write them down. A business plan is a document in which the entrepreneur writes down detailed plans for such functions as accounting, finance, production, marketing, and organization. Writing the plan forces the entrepreneur to consider problems in advance and to devise strategies for success.
All banks require that a loan application be accompanied by a business plan.
Financial Sections of The Business Plan Sales Forecast. The data for forecasts comes from the entrepreneur. An accountant can assist by questioning the assumptions and compiling the findings in a useful format. The sales forecast is always prepared first and should receive the most scrutiny. For example, to prepare the sales forecast for a start-up restaurant, the questions that should be asked include the following.