Resource: Preopening Budget Example
Create a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan. The deliverables for the financial plan include a projected budget created in Microsoft® Excel® and a report in Microsoft® Word® that clarifies and explains the financial plan.
Section One: Projected Budget
Create a projected budget.
- The projected budget should be a Microsoft® Excel® spreadsheet that contains a 3- to 5-year financial projection that includes detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable).
Include budget strategies to increase volume and budget assumptions.
Section Two: Financial Plan Explanation
Write a 1,050- to 1,400-word narrative discussing the fiscal details of the plan and the assumptions that were used in developing the projected budget.
- Include all the elements required in the projected budget.
- Include capital expenditure planning and contingency plans for unexpected events.
- Budget summary: When explaining your budget:
- Describe the organization’s current business model.
- Evaluate the impact of internal resources and financial capabilities on the business model implementation.
- Determine how the organization’s internal resources and financial capabilities affect your financial plan.
- Determine how they will affect implementation of the plan.
- Explain the details of the budget assumptions and the strategies to increase volume.
Cite at least 4 peer-reviewed, scholarly, or similar resources to support your information.
Format your paper according to APA guidelines.
Submit your assignment as Microsoft® Excel® and Microsoft® Word® attachments.
Click the Assignment Files tab to submit your assignment.
How to solve
Strategic Plan Part III – Financial Plan, health and medicine homework help Nursing Assignment Help
Introduction:
Creating a financial plan is an essential task in implementing the goals and objectives of a strategic plan. In this assignment, you are required to develop a 3- to 5-year financial plan using Microsoft Excel and provide a comprehensive explanation of the plan in a report using Microsoft Word. The financial plan should include detailed projections of expenditures, income, contingency, gain or loss, capital outlay, and ROI if applicable. Additionally, you should incorporate budget strategies to increase volume and clearly outline the assumptions made in developing the projected budget. It is essential to support your explanations and assumptions with at least 4 peer-reviewed, scholarly, or similar resources. Remember to adhere to APA guidelines when formatting your paper.
Answer to the content:
To successfully complete this assignment, you should follow the two sections outlined:
Section One: Projected Budget
To create the projected budget:
1. Open Microsoft Excel and create a new spreadsheet.
2. Organize the spreadsheet to include columns for each year of the 3- to 5-year financial projection.
3. Fill in the projected budget details for each column, including expenditures, income, contingency, gain or loss, capital outlay, and ROI if applicable.
4. Ensure that all figures and calculations are accurate and properly linked within the spreadsheet.
5. In a separate section, include budget strategies that can effectively increase volume. These strategies should be realistic and supported by evidence from peer-reviewed, scholarly, or similar resources.
Section Two: Financial Plan Explanation
To write the narrative discussing the fiscal details of the plan:
1. Open Microsoft Word and create a new document.
2. Start by introducing the financial plan and its purpose within the overall strategic plan.
3. Provide a comprehensive explanation of the assumptions that were used in developing the projected budget. This should include a thorough analysis of future financial trends and market conditions.
4. Include capital expenditure planning, taking into account potential investments required to achieve the goals and objectives of the strategic plan.
5. Discuss contingency plans for unexpected events that might impact the financial plan.
6. In the budget summary, describe the current business model of the organization. Evaluate how internal resources and financial capabilities influence the implementation of the business model and the financial plan. Explain how these factors will affect the execution of the plan.
7. Elaborate on the details of the budget assumptions and present strategies to increase volume, ensuring they are supported by evidence from at least 4 peer-reviewed, scholarly, or similar resources.
8. Cite all the sources used to support the information provided in the financial plan explanation, adhering to APA guidelines.
Remember to save your Excel spreadsheet and Microsoft Word document as attachments and submit them as required by the assignment instructions.
By following these steps, you will successfully complete both the projected budget and financial plan explanation sections of the assignment. Remember to provide accurate and detailed information throughout, supported by credible sources, and format your paper according to APA guidelines. Good luck!
