Report Essay Example | Topics and Well Written Essays - 2000 words - 23

Report - Essay Example From the concerted effort, I made during financial planning and subsequently presenting this report to you, presents Yorkshire Building Society with an opportunity to grow its revenues at a more accelerated pace. Through this financial plan, you have been presented with the numerical logic for decision making. In addition, it serves to show the Yorkshire Building Society’s Board where the need to employ its resources for maximum returns and costs management. Through efficient financial management, Yorkshire Building Society, through its Board, will be able to set aside enough funds for marketing this new venture, expanding its operations to bring about more growth. Through this plan, I specifically addressed the required start-up costs, breakeven analysis, forecasted profit and loss, forecasted cash flow, and projected balance sheet. Additionally, financial ratios were conducted to show the expected performance. Having a good financial plan is a good starting point for answering the critical and fundamental questions on how much it will cost Yorkshire Building Society to get the venture started. The plan by Yorkshire Building Society to start a new business requires that it determines its budgetary needs in a critical manner. Since every business is unique from each other, it has its particular monetary needs at various stages of it development. In estimating the initial capital outlay, I considered the size of our company since there does not exist any universal approach for estimating the start-up costs. Some investment would require considerable investment in equipment and inventory. Additionally, there will be costs involved in the acquisition of the new store in Leeds. Some of the costs that Yorkshire Building Society will incur will be one-off costs as is the case with the new store and the fee for the new venture. Other costs will