Tweet AICPA Statement of Position SOPPersonal Financial Statements, addresses the preparation and presentation of personal financial statements, or, more specifically, financial statements of individuals or groups of related individuals i.
Business Case, Business Plan: Do You Know the Difference? Can you explain the difference?
People often use the terms interchangeably or ask for one of them when they mean the other. Business Case, Business Plan.
Do the Terms Mean the Same Thing? Firstly, they no doubt they confuse the two because both tools support decision-making and planning.
Secondly, they confuse the two probably because both tools project future business results. They address different questions. Before you set out to build a business case or build a business plan, or before you ask someone to bring you one or the other, be sure that everyone understands clearly the special focus of each.
About the Action Or About the Business? The business case and the business plan both look into the future and complement each other. How do they differ? And what can we expect if we choose the HP Proposal? What will we need as a capital budget next year if we decide to buy the service vehicles instead of leasing them?
And, is there a positive ROI? What will we see in sales and margins next year? And, what can we expect in revenue growth next year? What should we set as targets for strategic business goals? And, what are our business performance and financial position when we reach those goals?
How many years will it take before this startup company starts earning profits?
A single action or single decision and its alternatives. An organization or the enterprise. The plan may cover a single product or product line or an organization. Business performance of the business. Predicts the main income statement categories, such as revenues and profits.
Also, refers to major components of proposed action. These refer to future cash flows.
Also include important non-financial impacts. May focus on funding needs, budgetary needs. Visit the Master Case Builder Shop online.
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Financial data is always at the back of the business plan, but that doesn't mean it's any less important than up-front material such as the business concept and the management team.
Product Description. Business PlanMaker Professional provides all the tools you need to write a quality plan and get funded. Easy, step-by-step guide walks you through every part of your plan with "plain-English" instructions, advice, and how-to hints.