How to write a financial report of the entrepreneurial program

Entrepreneurship in the financial analysis is very important, the money to be used in which is appropriate to spend the most thorough, so the general entrepreneurs will produce a financial report, but how to write a financial report, I give you to say Look, give you an example, you see if you can not understand.

Entrepreneurial project financial report writing sample

A financial forecast

(a) financial analysis of the basic data and parameter selection

The main purpose of the financial forecast is to provide basic financial data and relevant information for the project financial evaluation, financial forecasts need to collect and measure the basic data, including project forecasts of the economic activities of each year of the project period and all its Financial income and expenditure and results. Specific content includes: investment estimates; cost forecasts; price forecasts; production load; tax forecasts; forecasts of other financial parameters.

1, investment estimation

The total investment of the project is 117.3 million yuan, of which 98.3 million yuan of fixed assets investment, working capital investment of 19 million yuan, intangible and deferred assets investment counted as zero, the project investment estimate is shown in Table 6.1.

Table 6.1 Project Investment Estimation Table Unit: 10,000 yuan

Project Year 1 Year 2 Year 3 Year 4 Year 5

Fixed Asset Investment 9830 0.00 0.00 0.00 0.00 0.00

Working Capital Investment 1900 0.00 0.00 0.00 0.00 0.00

Intangible and Deferred Asset Investment 00 0.00 0.00 0.00 0.00 0.00

Total Investment of the Project 11730 0.00 0.00 0.00 0.00 0.00

2, cost forecast

After the completion of the project, in the production and operation activities, inevitably accompanied by the consumption of live labor and materialized labor, the production and operation of this process of consumption of a variety of monetary performance, known as the cost. Costs in accordance with the economic use can be divided into production costs and not included in the product cost of the production costs of the period.

(1) included in the product cost of production costs, in the cost of the production process of different specific uses, which can be further divided into a number of cost items. Generally include material costs and labor costs.

A. Material costs. Refers to the production of materials used to constitute the product entity or become a major part of the product, including raw materials and primary materials, auxiliary materials, spare parts and accessories, purchased semi-finished products, fuel, power, packaging and other direct materials. The project's material cost forecast is shown in Table 6.2.

B. Labor cost. Refers to the wages, bonuses, allowances and subsidies of the personnel directly engaged in the production of products, as well as employee welfare costs in accordance with the prescribed proportion. The forecast of labor cost of this project is shown in Table 6.2.

(2) The period cost refers to the expenses incurred by the enterprise for the formation of the operating capacity of a certain period of time, and its cost is fully compensated from the sales revenue of the current period. Period expenses include administrative expenses, financial expenses and selling expenses.

A. Administrative expenses. Refers to the enterprise administration and management for the organization and management of production and business activities of the costs incurred. The project management costs in reference to the actual level of the same type of enterprise based on a certain percentage of current sales revenue, see Table 6.3.

B. Finance costs. Refers to the costs incurred to raise funds, including net interest expenses incurred during production and operation (minus interest income), net loss on exchange, adjustment of foreign exchange fees, financial institutions fees and other financial costs incurred in raising funds. This expense is not incurred in this evaluation.

C. Selling expenses. Refers to the enterprise in the sale of products, self-made semi-finished products and the provision of labor services and other costs incurred in the process, as well as the costs of specialized sales organizations. The selling expenses of this project are estimated on the basis of a certain percentage of sales revenue with reference to the actual level of the same type of enterprises, see Table 6.3.

3. Price Forecast

In the analysis of this project, it is assumed that the whole economic operating environment will not produce great fluctuations, and the domestic and international political and social environment will remain in a basically stable state, therefore, the forecast does not take into account the impact of relative price changes and inflation during the production and operation period of this project. Therefore, the impact of relative price changes and inflation is not considered in this forecast during the project's production and operation period, i.e., the predicted fixed price is used throughout the production and operation period to calculate the product sales revenue and raw materials, fuel and power costs. The forecast prices of the products of this project are shown in Table 6.2.

4. Production load

Production load refers to the degree of production capacity exerted during the production and operation period of the project, which is also called the utilization rate of production capacity. In the financial forecast of the project, the production load is expressed by the value of the expected annual output of the products, see Table 6.2.

Table 6.2 Forecast of cost, price and sales volume of the patented (project) products

Product name Unit price (yuan) Production

Cost Estimated sales volume (tonnes)

1st year 2nd year 3rd year 4th year 5th year

Selenium-enriched Edible Mushroom 8800 6937.5 600 1000 1600 2000 2000

Selenium-enriched Milk 6000 3000 15000 25000 40,000 50,000 50,000

Note: 1) Unit price and production cost: According to the selling price of relevant raw materials provided by the patentee, the average level of wages in each region, and in order to make the product occupy a favorable competitive position in the market, this product has been designed and developed by the patentee. In order to make the products occupy a favorable competitive position in the market, the project has taken the low-end route to develop, the above is the ex-factory price, the project enterprise can be adjusted according to the consumption level of different regions, the production cost includes material and labor costs.

2) sales volume: combined with the investment in the production scale of the design, due to the enterprise in the first year there is a construction period, so the sales volume is relatively small, and later with the production and marketing into the normal period, the sales volume will gradually increase. We are in the specific assessment of its price, is based on the medium-sized manufacturers of similar products. It should be noted that if you increase the scale of investment, its production, economic efficiency will also rise.

5, tax forecast

Financial evaluation of the reasonable calculation of various taxes and fees, is an important basis for the correct calculation of project benefits and costs. The taxes and fees involved in financial evaluation mainly include value-added tax, business tax, resource tax, consumption tax, income tax, urban maintenance and construction tax and education surcharge, etc. In this financial evaluation, the tax calculation is divided into sales tax and income tax, and the tax rate is set according to the relevant national and local laws and regulations, policies and the specific conditions of the project. The sales tax rate and income tax rate of this project are shown in Table 6.3.

6. Other Financial Parameters Prediction

(1) Financial benchmark rate of return (ic)

Benchmark rate of return is one of the most commonly used indexes in project evaluation, which is the benchmark and criterion of the project's financial internal rate of return index and the minimum requirement for the project's financial feasibility, and also used as the basis for calculating the financial net present value. It is also used as the discount rate for calculating the financial net present value. The project financial benchmark rate of return represents the minimum level of profitability and marginal rate of return that should be obtained by the investment funds, generally consisting of two parts: the normal rate of return on investment and the rate of return on risk investment.

The financial benchmark rate of return of the project is set according to the "Methods and Parameters for Economic Evaluation of Construction Projects" (the second edition of 1993) issued by the relevant state departments on the basis of and with due consideration to the level of investor's expectation of returns, and the specific indicators are shown in Table 6.3.

(2) Ratio of accounts receivable and payable

The ratio of the project's accounts receivable and payable is set with reference to the average level of the industry, and the accounts receivable and payable ratio of the year is set with reference to the average level of the industry. The ratio of accounts receivable and accounts payable of this project is set with reference to the average level of the industry. The specific ratios are shown in Table 6.3.

(3) Allowance for bad debts

The relevant documents of the Ministry of Finance of the PRC stipulate that the accrual ratio of allowance for bad debts shall be determined by the Company itself, but the accrual ratio shall be reasonably estimated. The bad debt provision rate of the Project is set with reference to the customary standards of the industry, and the specific ratios are set out in Table 6.3.

(4) Calculation period of the Project

The calculation period of the Project is generally based on a combination of factors, such as the lifespan of the products (the life of the resource extraction), the lifespan of the major facilities and equipment, and the lifespan of the major technologies. Since the most prominent advantage of this project lies in the application of advanced technology, the life span of the project's technology should be the primary consideration when considering the project's calculation period.

The technology adopted in this project is patented technology, and the economic life of patented technology generally depends on the development and update speed of industry technology, the leading degree of technology, the confidentiality status, the product update cycle, the substitutability, the market competition and the intensity of legal and administrative protection.

In general, the economic life of patented technology is shorter than its legal life. This is because science and technology is constantly developing, and the speed of scientific and technological development is getting faster and faster, the emergence of a new, more advanced, applicable or more efficient patented technology, will make the original patented technology depreciation. For the economic life of the patented technology of this project, the method of measuring the technology renewal cycle is adopted. The specific calculation is based on the historical experience of similar patented technologies and the use of statistical models to analyze.

Through the comprehensive judgment of this project, the calculation period of this project is taken as 10 years, and the following table shows the calculation parameters of the first 5 years, and the next 5 years are the same. (II) Sales revenue and cost estimation

1, sales revenue estimation

Sales (operating) revenue refers to the income obtained from the sale of products or the provision of services. In this project, the sales revenue of different products is calculated in items, and for those who are not easy to calculate the sales revenue according to the detailed classification of the varieties, the method of discounting to the standard products is adopted to calculate their sales revenue. The sales revenue of the products of this project is shown in Table 6.4.

Table 6.4 Estimated Sales Revenue of Products Unit: 10,000 Yuan

Patented Products Year 1 Year 2 Year 3 Year 4 Year 5 Year 6~10 Years

Selenium-enriched Edible Mushroom 528 880 1408 1760 1760 8800

Selenium-enriched Milk 9000 15000 24000 30000 30000 150000

Total 9528 15880 25408 31760 31760 158800

The project's financial cash sales revenue takes into account the factor of accounts receivable, and the basic formula is as follows:

Cash Sales Revenue = Product Sales Revenue of the Year - Accounts Receivable of the Year + Last Year Accounts receivable

This financial analysis assumes that the accounts receivable in the last year of the calculation period are fully recovered, see Table 6.5.

Table 6.5 Estimated cash sales revenue Unit: million yuan

Item Year 1 Year 2 Year 3 Year 4 Year 5 Year 6~10

Product sales revenue 9528 15880 25408 31760 15880 25408 31760 31760 158800

2. Estimation of Costs and Expenses

Costs and expenses are all kinds of expenses incurred in the production and operation of this project.

(1) Depreciation of fixed assets

The depreciation estimate of fixed assets of this project is shown in Table 6.6.

Table 6.6 Depreciation Estimate of Fixed Assets Unit: 10,000 Yuan

Specification Depreciable life Depreciation rate Depreciation rate 1st year 2nd year 3rd year 3rd year ?

Plant and warehouse 20 10.00% 4.50% 257.4 257.4 257.4 257.4 ?

Production equipment 10 10.00% 9.00% 369.9 369.9 369.9 ?

Total 627.3 627.3 627.3 ?

(2) Amortization of intangible and deferred assets

The amortization of intangible and deferred assets for the project is shown in Table 6.7.

Table 6.7 Estimated Amortization of Intangible and Deferred Assets Unit: 10,000 Yuan

Items Year 1 Year 2 Year 3 Year 4 Year 5

Investment in intangible and deferred assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Current amortization 0.00 0.00 0.00 0.00 0.00 0.00

Net intangible assets 0.00 0.00 0.00 0.00 0.00 0.00

(3) Estimation of cost of product sales

Cost of product sales includes depreciation, materials and labor, and the basic formula is:

Cost of product sales = depreciation + material costs + labor costs

According to the previous statement, the production cost of this commissioned project includes material costs and labor costs, so the estimated cost of product sales of the project is shown in Table 6.8.

Table 6.8 Estimated cost of product sales

Unit: million yuan

Item 1st year 2nd year 3rd year 4th year 5th year 6~10 years

Item 1 year 2 years 3 years 4 years 5 years 6~10 years Year

Material cost 4916.25 8193.75 13110.00 16387.50 16387.50 81937.50

Labor cost

Depreciation 627.30 627.30 627.30 627.30 627.30 3136.50

Total 5543.55 8821.05 13737.30 17014.80 17014.80 85074.00

(4) Estimation of payable operating costs

The financial payable operating costs of this project take into account the factor of accounts payable, and the basic formula is:

Payable operating costs = cost of product sales - current year's payables - depreciation + last year's payables

This financial analysis assumes that all accounts payable are paid in the last year of the calculation period, as shown in Table 6.9.

Table 6.9 Estimation of payable operating cost

Unit: million yuan

Item Year 1 Year 2 Year 3 Year 4 Year 5 Year 6~10

Cost of product sales 5543.55 8821.05 13737.30 17014.80 17014.80 85074.00

Accounts payable 554.36 882.11 1373.73 1701.48 1701.48 8507.40

Depreciation of fixed assets 627.30 627.30 627.30 627.30 627.30 627.30 627.30 3136.50

Payment of operating costs 4361.90 7311.65 11736.27 14686.02 14686.02 73430.10

Third, the determination of the discount rate

Discount rate, also known as the discount rate, is used to restore (or convert) the future earnings of the patented technology assets to the present value of the rate. Can be seen, the essence of the discount rate is a kind of investment compensation rate. The compensation required by the investor can be divided into two parts, one for the investor's risk-free compensation, equivalent to the purchase of treasury bills and government bonds interest, the compensation rate is called the risk-free interest rate. The second is the investor's risk premium (or risk value), that is, the investor risks not being able to recover the principal and interest on time the compensation required by the rate of compensation known as the risk compensation rate. These risks include business risk, interest rate risk and market risk three. So that the rate of return on investment, that is, the discount rate can also be regarded as the risk-free rate of return plus the rate of return on risk.

The risk-free rate of return is the interest rate without taking into account the reward for risk, generally refers to the treasury bill or government bond interest rates, in our country can also refer to bank deposit rates.

The risk-reward rate needs to take into account the technical risk, market risk, business risk, financial risk. As the patented technology in the future there are more and more uncertainties, so its risk-reward rate should also be higher. The discount rate is a parameter that reflects the degree of project risk. According to the current national bond yields, bank interest rates, the industry in which the project is located, the project itself, such as risk, to be determined.

The discount rate is a key element in discounting the net benefit of technology to present value. Since the return generated by the invention patent technology and proprietary technology is with the investment in the technology of other assets (capital, equipment, housing, etc.) together *** with the generation, so its rate of return should also be related to all types of assets.

For this analysis of ? Cultivation of selenium-rich edible fungi and its offcuts to produce natural selenium-rich milk method? Patented technology of invention, analysts believe that the risk is greater than the overall enterprise. Therefore, the risk overlay model method (also known as the Built-in Method), which is common internationally, is used to determine its discount rate, which consists of the risk-free rate of return plus various risk premiums:

No. Overlay Content Amount

1 Risk-free rate 5.46%

2 Purchasing power risk 2.00%

3 Market risk 2.00%

4 Industry Risk 1.00%

5 Interest Rate Risk 1.50%

6 Small Company Risk 1.00%

Total 12.96%

The analysts take into account the actual situation of the project, and at the same time, refer to the Venture Capital Model (VC)? Return on Venture Capital (ROC), the comprehensive determination of the discount rate is finally taken as 13%.

This discount rate is higher than the general average rate of return of similar production industry. It is because its investment in a new technology to be opened up the market, this investment relative to the old technology and old products, there is certainly more risk.

Fourth, the project's financial evaluation

(a) financial evaluation statement preparation

The project's financial profitability analysis is mainly to examine the level of profitability of the project's investment. For this purpose, the preparation of cash flow statement and income statement two basic financial statements, calculate the financial internal rate of return, payback period, financial net present value, investment profit margin, investment tax rate and other indicators.

1, income statement

The profitability of the project in each year through the income statement to reflect the statement shown in Table 6.10. With the help of profit and loss account, the profitability of the project can be analyzed by calculating the investment profit margin and investment tax rate and other indicators.

Table 6.10 Profit and Loss Estimate

Unit: million yuan

Item Year 1 2 3 4 5 6~10

Sales Revenue 9,528.00 15,880.00 25,408.00 31,760.00 31,760.00 158,800.00

Less: Production Costs 5,. 543.55 8,821.05 13,737.30 17,014.80 17,014.80 85,074.00

Gross profit 3,984.45 7,058.95 11,670.70 14,745.20 14,745.20 73,726.00

Expense of sales (5%) 476.40 794.00 1,270.40 1,588.00 1,588.00 7,940.00

VAT and surcharges (8.5%) 333.48 555.80 889.28 1,111.60 1,111.60 5,558.00

Overhead (8%) 476.40 4,597.55 7,732.46 9,822.40 9,822.40 49,112.00

Less: Income Tax (33%) 827.51 1,517.19 2,551.71 3,241.39 3,241.39 16,206.96

Net Profit 1,680.10 3, 080.36 5,180.75 6,581.01 6,581.01 32,905.04

Plus: Depreciation 627.30 627.30 627.30 627.30 627.30 627.30 627.30 3,136.50

Net Cash Flow 2,307.40 3,707.66 5,808.05 7, 208.31 7,208.31 36,041.54

(1) Cash inflow is the sum of product sales revenue, recovery of the residual value of fixed assets and recovery of liquidity, of which, the yearly data of product sales revenue are taken from the estimated table of product sales revenue; the residual value of fixed assets and liquidity are recovered in the last year of the calculation period, and the amount of recovery of the residual value of fixed assets is the amount of the residual value of fixed assets in the estimated table of depreciation expense. Depreciation expense estimation table for fixed assets at the end of the total net value, working capital recovery amount for the project all liquidity.

(2) The cash outflow item consists of investment, operating costs and taxes. The amount of investment in fixed assets and working capital is taken from the relevant sub-item in the investment estimate table; operating costs are taken from and the amount of sales taxes and surcharges and income tax data from the income statement.

(3) The net cash flow for each year of the project calculation period for the cash inflow in each year minus the cash outflow of the corresponding year. The cumulative net cash flow of each year is the sum of the net cash flow of the current year and the previous years.

Based on the above analysis, the sum of the net cash flows of the project in the next 10 years is $622,812,700 (without considering the time value).

(ii) Analysis of project financial profitability

Financial analysis of the project enterprise, generally consider the internal rate of return, financial net present value, payback period, investment profit margin, investment tax rate and other indicators to measure the reliability and effectiveness of investment.

1, the financial internal rate of return (FIRR)

The financial internal rate of return is a measure of the financial viability of the project is the main evaluation index, is the project in the calculation period, the cumulative present value of the net cash flow in each year is equal to zero when the discount rate. In general, FIRR> industry benchmark discount rate, indicating that the project is financially viable. The expression is:

Where:

CI: cash inflows (including sales revenue, recovery of fixed asset residual value, recovery of working capital, etc.);

CO: cash outflows (including investment in fixed assets, liquidity, operating costs, taxes, etc.);

(CI-CO)t: the net cash flow in the tth year;

n: the calculation period of the project.

2, financial net present value (FNPV)

Financial net present value is the project according to its industry benchmark rate of return, the project calculation period of the net cash flow discounted to the beginning of the construction period of the present value of the sum of the value of the larger, the higher the level of project profitability. The expression is:

Where:

ic : benchmark rate of return of the industry to which the project belongs.

3, payback period (Pt)

The payback period or investment payback period, is the project's net income to offset all the investment (including investment in fixed assets and liquidity) the time required to calculate the cumulative net cash flow in the financial cash flow statement, the payback period and the industry's benchmark payback period, which is to reflect the ability of the project's financial investment payback Important indicators. The expression is:

Where:

Pt: payback period, expressed in years.

4, investment profitability

Investment profitability refers to the project to reach the designed production capacity of a normal production year of total annual profits and the ratio of total project investment, it is to examine the profitability of the project unit of investment in the static indicators. Investment profitability mainly reflects the investment project can make more profit with less investment. Its calculation formula is:

Investment profit rate = total annual profit / total investment in the project?100%

5, investment tax rate

Investment tax rate refers to the project to reach the designed production capacity of a normal year after the total annual profits and taxes or the project production period of the annual average of the total profits and taxes and the ratio of the total project investment. Its calculation formula is:

Investment tax rate = total annual profit and tax/total investment?100%

Total annual profit and tax = total annual sales revenue - total annual cost and expense + annual value-added tax or:

Total annual profit and tax = total annual profit + total annual sales tax and surcharge + annual value-added tax

Based on the above formula for calculating the financial indexes, calculate the project's various financial indicators, as shown in Table 6.12.

Table 6.12 Calculation Table of Project Financial Indicators

Item Value

Internal Rate of Return 31%

Static Payback Period 3.98 Years

Investment Profit Margin 84%

Investment Profit and Tax Ratio 93%

Summary of Economic Evaluation Indicators of the Project

The economic evaluation indicators of this project are summarized as follows

The project economic evaluation indicators are summarized as follows:

Table 7.1 Summary of Project Economic Evaluation Indicators

No. Name of Indicators and Data Unit Indicators and Data

1 Total Investment of the Project 10,000,000 Yuan 11,730.00

1.1 Fixed Asset Investment 10,000,000 Yuan 98,300.00

1.2 Liquid Capital 10,000,000 Yuan 1900.00

1.3 Intangible and Deferred Assets 00.00

2 Financial Internal Rate of Return (IRR) % 31%

3 Static Payback Period of the Project 3.98

4 Financial Net Present Value (NPV) 15,761.15

5 Profitability of the Project 84%

6 Investment Profit and Tax Ratio 93%

6 Profit and Tax Ratio (IRR) % 93 /p>

Sample Business Plan 2007-06-19 10:50 I. Abstract

Project name, unit, financial plan (full investment financial internal rate of return, financial net present value, investment profit rate, investment tax rate and payback period), a brief description of the project content.

Second, the project overview

Project unit business purposes, the current state of development, the project construction address of the political, economic, cultural, resources, infrastructure and other aspects of the situation, including the construction of the location of the investment environment analysis (tax, land and other preferential policies).

Third, product production and services

The production scale of the product, raw material resources, production equipment, technical characteristics and production processes, and other circumstances, and make plans for the product market services.

Fourth, the industry and market analysis

The current situation of the industry and market capacity, accurate market positioning of the project products, the project's competitive situation, competitors, the introduction of their respective competitive advantages, to make a competitive strategy analysis.

V. Marketing Analysis

Product marketing plan, including the choice of market institutions and marketing channels, marketing team and management, pricing and distribution of products or services, promotional programs and advertising strategies, price decisions.

Six, the project unit management team

The company's main characters are introduced, including positions, education, work experience, team building process of advanced experience.

VII. Fundraising, utilization and exit

The company's current fundraising, use of funds, financing methods, launch strategy, investment methods and terms.

VIII, financial forecasting and analysis

Future financial forecasts, including financial internal rate of return, financial net present value, payback period, sensitivity analysis, profitability forecasts and cash flow.

Nine, risk and countermeasures

The company's operations encountered in the process of management risk, market risk, financial risk, policy risk, etc. to make predictions, and give the method of avoidance.

X. Appendices

Financial statements

Alteration or expansion projects, the company needs to provide the tax registration certificate, business license, organization code certificate held by the company