Kinh doanh marketing - Part 5: Basic financial planning and control

Part 5: Basic Financial Planning and ControlBasic Financial PlanningBudgeting and Controlling TaxesUsing Computer Technology in Small BusinessesRisk Management, Insurance, and Crime PreventionChapter 14Basic Financial PlanningMcGraw-Hill/IrwinCopyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.BasicFinancial PlanningNeed For Profit PlanningChanges In Company Financial PositionFinancial StructurePlanning For Profit14 - 3Nick Rowe/Getty ImagesMcGraw-Hill/IrwinProfit Planning“a series of prescribed steps to be taken to ensure that a profit will be made.”Profit planning must precede other activitiesDrop InFinancial PositionUncollectible A/RToo Many AssetsNegative Cash FlowBenchmarking“setting up standards (for reference) and then measuring performance against them.”Accounting Records“records of a firm’s financial position that reflect any changes in that position.”Accounting Equation Owners’ Equity+Liabilities Total AssetsAssets“things a business owns.”Liabilities“the financial obligations of a business.”Owner’s Equity“owners’ share of (or net worth in) the business after liabilities are subtracted from assets.”Balance SheetCurrent AssetsCashAccounts ReceivableInventoryShort-Term InvestmentsPrepaid ExpensesPhotoLink/Getty ImagesTotal LiabilitiesCurrent LiabilitiesAccounts PayableNotes PayableLong-Term LiabilitiesLong-Term Loans (non-mortgage)Mortgage PayableRoyalty-Free/CORBISOwners’ EquityCapital StockRetained Earnings(c) Duncan Smith/Getty ImagesIncome StatementRevenueCashAccounts ReceivableRoyalty-Free/CORBISExpensesMaterialsSalariesUtilitiesDepreciationRentBuilding ServicesInsuranceInterestOffice & SuppliesSales PromotionTaxes & LicensesMaintenanceDeliveryMiscellaneousProfit (Income)“the difference between revenue earned and expenses incurred.”Well-ManagedSmall BusinessLiquidBalance Sheet ImportantStability vs. GrowthLong-Range PlanningRoyalty-Free/CORBISInitial StepsIn Profit PlanningEstablish GoalDetermine Volume For ProfitEstimate ExpensesDetermine Estimated ProfitCompare Estimate With GoalRyan McVay/Getty ImagesAction StepsIn Profit PlanningList AlternativesDetermine ExpensesDetermine ProfitsAnalyze AlternativesSelect & ImplementLawrence Lawry/Getty ImagesNeed For Realismin Profit PlanningUncertaintyPlanning=Planning For ProfitEstablish Profit Goal $ 52,000Determine Sales Volume 530,000Estimate Expenses 490,000Determine Profit Est. $ 40,000Compare Profit To Goal -$12,000List AlternativesChange Sales VolumeDecrease ExpensesAdd Products/ServicesSubcontractAction StepsIn Profit PlanExpenses Vary With Volume Sales Expenses$364,000 $364,000$530,000 $490,000$700,000 $618,700 Volume Profit$364,000 $ -0-$530,000 $ 40,000$700,000 $ 81,300Analyze AlternativesSelect/Implement PlanBreakeven ChartPro FormaIncome Statement