Finance is one of the most important aspects of a business. As you know, without finances and proper management, an organization will no longer exist. The next step for E-MAGINE Biomedical for the new international venture is to put together the financial picture for the CEO to understand the impact the venture will have to the organization’s bottom line.
First, you will meet with the VP of Finance at the virtual E-MAGINE corporate office to discuss how to develop a financial plan for the international venture. Click here [Links to an external site.] to view the E-MAGINE interactive in a new window.
Next, open the Excel spreadsheet template and go to the Preliminary Financial Data tab. You will need to look at the E-MAGINE case study and locate the financial numbers for 2020, then enter them into the spreadsheet.
This week in the Word document template, you will write the section Financial Plan. The template outlines what you should cover in the section. In this section, the proverbial “rubber meets the road.” Accurate presentation of the estimates results in increased validity of the venture.
The venture viability and timetable will be on display in this section. The use of financial exhibits will be expected, and you can use your 2nd template to cut and paste sections right into the document. Any profit or loss forecasts would help as well, along with the income statements and balance sheets.
Hint: Depending on what you wrote for your operations plan, you might need to add in the $250,000 re-tooling expense for the plant in Mexico.
Hint: If you are making some assumptions about the financials [you might have to], explain the assumptions.