- Writing a Business Plan
- Financial Statements
- Business Forecasting
- Business Checklist
Creating the Notes to Your Forecasted Financial Statements:
After completing your Financial Budgets (step 1) and all your Forecasted Statements & Analysis (steps 2 through step 7) for each forecasted business year, your final step involves creating Notes to the Forecasted Financial Statements.
Recall from previous discussions, The Notes to Financial Statements, summarize or explain the "activities" and "assumptions" made by the entrepreneur when creating the forecasted financial statements. The purpose of developing these Notes is to reduce any confusion a reader may have when viewing your forecasted financial statement section. Further, the Notes will equip the readers (bankers, investors, and other readers) with the necessary information needed to understand and comprehend the forecasted financial statements.
Important: never, ever, ever, create the "Notes to the Forecasted Financial Statements" until you have fully completed your forecasted financial statements and analysis.
There is no set structure nor specific guideline that dictates which topic(s) should be included in the notes to the financial statements. Instead, it is left up to the entrepreneur to decide which items warrant a "note" and which items are self explanatory. The following list provides some suggestions you may use when creating your notes to the forecasted financial statements.
POSSIBLE NOTES TO THE FORECASTED FINANCIAL STATEMENTS:
To view Murray Wilson's (Scholarship Information Services) "Notes to the Forecasted Financial Statements", please click HERE.
ADDITIONAL EXAMPLES OF "NOTES to the FORECASTED STATEMENTS":