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 attach is a budget example
Expert Solution Preview
Introduction: In order to implement the goals and objectives created in Part II of the strategic plan, a 3- to 5-year financial plan needs to be created. This plan will include a projected budget created in Microsoft® Excel® and a report in Microsoft® Word that explains the financial plan.
1. What should be included in the projected budget?
The projected budget should be a Microsoft® Excel® spreadsheet that contains a 3- to 5-year financial projection. It should include detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable). Also, budget strategies to increase volume and budget assumptions should be included.
2. What should be included in the financial plan explanation?
The financial plan explanation should be a 1,050- to 1,400-word narrative that discusses the fiscal details of the plan and the assumptions used in developing the projected budget. It should include all the elements required in the projected budget, capital expenditure planning and contingency plans for unexpected events. The budget summary should describe the organization’s current business model, evaluate the impact of internal resources and financial capabilities on the business model implementation, and explain the details of the budget assumptions and the strategies to increase volume. Additionally, at least 4 peer-reviewed, scholarly, or similar resources should be cited to support the information provided. The paper should be formatted according to APA guidelines.
