City of Good Character

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DISCIPLINE • GOOD TASTE • EXCELLENCE Department of Education
National Capital Region
SCHOOLS DIVISION OFFICE
MARIKINA CITY
MALANDAY NATIONAL HIGH SCHOOL

STVEP – Information and Communication Technology

Entrepreneurship
Fourth Quarter– Module 2
The Financial Plan
(Business Plan Booklet P5)

Writer: Meien Grace C. Salvador

Cover Illustrator: Christopher E. Mercado

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What I Need to Know

This module was designed and written with you in mind. It is here to help
you develop knowledge, skills, and attitudes in the performance of Entrepreneurial
tasks. The scope of this module permits it to be used in many different learning
situations. The language used recognizes the diverse vocabulary level of students.
The lessons are arranged to follow the standard sequence of the course.

The module is composed of four lessons, which are:

Lesson 1 – Financial Planning
Lesson 2 – Startup Capital
Lesson 3 – Financial Statements
Lesson 4 – Financial Ratios

After going through this part of module, you are expected to:
1. describe the production process
2. illustrate the work area layout
3. identify the needs of the business
4. differentiate variable cost from fixed cost

Definition of Terms:

1. Amortization – the process of incrementally charging the cost of an asset to

expense over its expected period of use
2. Asset – properties owned by the business
3. Building – the structure wherein the business will conduct its operations
4. Business – a profitable venture or undertaking
5. Cash flow – money transferred into or out of the business
6. Collateral – usually a property pledged as security for repayment of debt
7. Cost – amount that is projected to be spent to make or sell goods or services
8. Debt – money owed; loan
9. Equipment – machineries, tools, workshop fittings, vehicles
10. Equity – money invested in the business as capital
11. Expense – amount used for consumption
12. Financial – related to finance or handling money
13. Fund – (amount of) money
14. Furniture and fixture – properties at the location which are used to furnish
the office or workplace
15. Gross profit – calculated by subtracting cost of goods sold from the revenue
16. Income – money earned; profit
17. Inflow – money going into the business; money earned
18. Labor – manpower or human effort
19. Land – the ground which the business use for its operations
20. Liability – financial obligations or payables of the business
21. Loss – result when income is less than the expenses incurred

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22. Mark-up – difference between selling price and the amount of its cost
23. Net profit – result when gross profit amounts greater than the expenses
24. Outflow – money going out of the business; disbursements or expenses
25. Payable – financial obligations of the business
26. Profit – money earned or gained by the business; income; earnings
27. Raw materials – all the materials and parts that go into the products
28. Receivable – balance of money to be received
29. Salary – employees’ wages

What I Know
Read the questions carefully. Write True if the statement is correct and
False if the statement is not true. Write your answers on the answer sheet
provided.

1. The financial plan consolidates the monetary impact of revenues, costs and
expenses incurred for operations and in running the business.
2. It is important to not run out of cash, and make sure that the operation
created will eventually become profitable.
3. Financial planning also involves an analysis of possible future events and
how these events might affect the firm.
4. Proper utilization of funds are critical to business success.
5. Financial planning is the task of determining how the business will afford to
achieve its goals.
6. The project cost is the total income on the first year of starting the business.
7. Debts and loans are the two types or sources of start-up capital.
8. The business plan is the only requirement to apply for a business loan.
9. A debt is borrowed money, usually, from a lending institution.
10. The owner’s equity is also sometimes called the risk capital.
11. Financial statements provide major financial data about the business.
12. The projected cash flow informs the entrepreneur when sales can generate
enough money to cover cash requirements for each period.
13. The balance sheet will give the financial profile of the business at any given
point showing its assets, liabilities, and net worth.
14. The income statement is different from the profit and loss statement.
15.There are income statements of a manufacturer, trader, and a service
provider are all the same.
16. Financial ratios are created using the figures found in the financial
statements.
17. Current ratio indicates the extent to which the claims of short-term lenders
are covered by current assets.
18. Gross profit margin indicates the average mark-up on products sold.
19. To compute for the gross profit margin, divide net income by the sales.
20. Dividing sales by the average fixed asset results to total asset turnover.

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What’s In

The Financial Plan is the aspect of the business plan which consolidates the
monetary impact of the revenues expected from the marketing efforts and
strategies, the costs and expenses incurred in producing the product or service, as
well as the expenses in running the business. From these, the financial plan will
prove that the business idea is feasible and is profitable.

What’s New

Read the question. Write your answer on the answer sheet provided.

How do you define ‘financial planning’?

What is It

Sound planning of finances and the proper utilization of funds are critical to
business success. Normally during the first few months after a business begins
operating, it is difficult to recover costs or to make a profit. It takes some time
before money from sales starts to come in. During this time, the business is very
vulnerable and you must keep a careful eye on the financial situation.

When an entrepreneur starts a new business, these two things are very
important: do not run out of cash, and make sure that the operation created will
eventually become profitable.

Lesson 1 Financial Planning

In entrepreneurship, financial planning is the task of determining how the
business will afford to achieve its goals. It describes the activities, resources,
equipment, and materials that are needed to achieve the enterprise’s business
objectives as well as the time frame.

Financial planning also involves an analysis of possible future events and

how these events might affect the firm. It is an activity that involves financial flows
of the firm as a whole.

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Developing a financial plan is important for the success of the business. It

validates the business plan by confirming the objectives set are achievable from a
financial point of view.

Normally, the financial statements in the financial portion of the business

plan are presented in the following order:
1. Income or Profit and Loss Statement
2. Projected Cash Flow
3. Projected Balance Sheet

These statements will be briefly discussed in the latter part of this module.

Lesson 2 Start-up Capital

We simply define the total project cost as the total funds needed to start
(or complete) a business project. After calculating how much money will be needed
to start, you can now identify how you will fund your business project.

There are two types of start-up capital: owner’s equity and debts or loans.

The equity is the owner’s private money that is put into the business to be
able to start it. An entrepreneur’s savings can be a possible source of owner’s
equity. Entrepreneurs can use targeted savings accounts to accumulate some or
all of the funds needed to start the business.

The owner’s equity is also sometimes called the risk capital because the
owner is risking his/her own money on the business.

A debt or a loan is the borrowed money, usually, from a lending institution.

When you borrow money, you will have to repay the amount borrowed and you will
probably have to pay the interest charges and/or fees. The loan can be paid either
in installments or all at once, depending on the agreement with the lender.

The two major requirements when borrowing money from a lending

institution are:
1. Business plan – to prove the feasibility of the business idea
2. Some kind of collateral – to make sure that the loan can be repaid

To identify the source of your start-up capital, you have to consider the
following questions:
 Where are you going to get the funds to finance your total project cost?
 How much of the total project cost will be funded by equity?
 How much will be funded by borrowed money?
Tosama Cloth Bags’ Source of Funds

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Equity Debt Total

Fixed Investments ₱ 55,000.00 ₱ 180,400.00 ₱ 235,400.00
Pre-operating Costs 11,900.00 11,900.00
Working Capital 219,651.10 219,651.10
Total Project Cost ₱ 274,651.10 ₱ 192,300.00 ₱ 466,951.10

Lesson 3 Financial Statements

In the business plan, there are three financial statements. These statements
provide major financial data about the business. However, when the business is yet
to be started, the financial projections presented through these statements will
prove that the business is indeed profitable.

Income Statement

The Income or Profit and Loss Statement indicates how profitable the
business will be and when it will become profitable. The profitability projection
depends upon your assumptions and how realistically they reflect future trends.
The Income Statement also tells the amount of income tax you may have to pay.

There are slight variations in the income statements of a manufacturer,

trader, and a service provider.

For manufacturers and traders:

Projected Income Statement
Year 1 Year 2 Year 3
Total sales
Less: cost of goods sold
Gross Profit from Sales
Less: Selling expenses
Less: Administrative expenses
Net Operating Profit
Less: Interest charges
Net Income before Taxes

For service providers:

Total Expenses
Year 1 Year 2 Year 3
Selling expenses
Administrative expenses
Depreciation for machines,
equipment, tools
Total supplies/spare parts used
Total expenses

Projected Income Statement

Year 1 Year 2 Year 3
Total sales

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Less: Total expenses

Net Operating Profit
Less: Interest Charges
Net Income before Taxes

Projected Cash Flow

The Projected Cash Flow informs you when sales can generate enough
money to cover the cash requirements for each period. If the business happens to
be short of cash during certain periods, then you should do something about it
even before the shortfall happens. One way of doing this is to increase your
working capital requirements, which is part of your project cost as you have
estimated in the technical plan portion.

Projected Cash Flow

Pre- Year 1 Year 2 Year 3
operating
Cash Inflows
Loan proceeds
Owner’s Equity
Cash sales
Add: Collection of receivables
Total Cash Inflows

LESS: Cash Outflows

Pre-operating expenses
Fixed investment
Materials purchases
Direct labor
Production overhead minus
depreciation and indirect
materials
Selling and administrative
expenses minus depreciation
and amortization of pre-
operating expenses
Total Cash Outflows

NET CASH FLOW

Add: Beginning cash balance 0
Less: Principal repayments /
interest payments
ENDING CASH BALANCE

Balance Sheet

The balance sheet comes last in the statements in the financial plan. You
can prepare it only after you have determined the net income after tax from the
income statement as well as your ending cash balances from your cash flow

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statement. Furthermore, the balance sheet will give the financial profile of the
business at any given point showing its assets, liabilities, and net worth. The
balance sheet will show at a glance the financial health of the business.

Projected Balance Sheet

Pre- Year 1 Year 2 Year 3
operating
ASSETS
Cash
Accounts receivable
Raw materials inventory
Finished goods inventory
Merchandise inventory
Supplies and spare parts inventory
TOTAL CURRENT ASSETS
Property, plant, and equipment
Less: Accumulated depreciation
NET PROPERTY, PLANT, AND
EQUIPMENT
Pre-operating expenses
Less: Amortization of pre-
operating expenses
NET PRE-OPERATING
EXPENSES
TOTAL ASSETS

LIABILITIES AND
OWNER’S EQUITY
Accounts Payable
Current portion of loans
payable
TOTAL CURRENT LIABILITIES
Long-term loans
TOTAL LIABILITIES

Owner’s equity
Retained earnings
TOTAL OWNER’S EQUITY
TOTAL LIABILITIES AND
OWNER’S EQUITY

Lesson 4 Financial Ratios

Financial ratios are useful tools used by entrepreneurs to project and/or
determine the financial health of the business. Financial ratios are created using
the figures found in the financial statements.

Financial Ratios
Ratio Equation Computation

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Gross profit margin

Sales – Cost of goods sold
indicates the average mark-up
Sales
on products sold
Net profit margin
Net income
indicates the firm’s ability to
Sales
generate profits
Return on equity
__Net income__
reveals the return on the
Total equity
owner’s equity
Return on investment
Operating income
reveals the return on your
Total assets
investment
Total asset turnover
indicates how efficiently the ________Sales________
firm is making use of all of its Average total assets
resources
Fixed asset turnover
indicates how efficiently the _______Sales_______
firm is making use of its fixed Average fixed assets
assets
Inventory turnover
indicates the number of times ___Cost of goods sold___
the same volume of goods is Average inventory
sold during the period
Current ratio
indicates the extent to which
__Current assets__
the claims of short-term
Current liabilities
lenders are covered by current
assets
Quick ratio
Current assets
measures the firm’s ability to
less Inventory
pay off short-term debts
less Prepaid expenses
without having to sell
Current liabilities
inventories
Debt equity ratio
determine the extent of use of Long-term liabilities
long-term debts to finance Equity
firm’s requirements

 
What’s More
Answer the following question. Write your answer on the answer sheet.

(1) Why is projected income statement important?

(2) Why is projected cash flow important?
(3) Why is the projected balance sheet important?

What I Have Learned

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Complete the paragraph. Choose your answer from the box provided. Write
your answers on the answer sheet provided.

The (1) consolidates the monetary impact of revenues, costs and expenses
incurred for operations and in running the business. Sound planning of finances
and the proper utilization of (2) are critical to business success. In
entrepreneurship, financial planning is the task of determining how the business
will afford to achieve its goals. It also involves an (3) of possible future events and
how these events might affect the firm.

To start the business’ financial plan, after calculating the total (4)_, the
entrepreneur will have to identify how he/she will fund the business project. The
two types of start-up capital are the owner’s (5) or acquiring a (6) or loan.

There are also financial (7) which provide major financial data about the
business. However, when the business is yet to be started, the financial (8)_
presented through these statements will prove that the business is indeed (9) .

Normally, the financial statements are presented in the following order: (1st)
_(10) or Profit and Loss Statement, which indicates how profitable the business
will be and when it will become profitable; (2nd) Projected (11) , which shows when
sales can generate enough money to cover cash requirements for each period; and
(3rd) Projected (12) , which gives the financial profile of the business showing its
_(13) , _(14) , and net worth and show at a glance the financial health of the
business.

Lastly, _(15) which are useful tools used by entrepreneurs to project and/or
analyze the financial health of the business, are created using the figures found in
the financial statements.

analysis assets balance sheet

cash flow debt equity
financial plan financial ratios funds
income liabilities profitable
project cost projections statements

Assessment

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Read the questions carefully. Write True if the statement is correct and
False if the statement is incorrect. Write your answers on the answer sheet.

1. The financial plan consolidates the monetary impact of revenues, costs and
expenses incurred for operations and in running the business.
2. It is important to not run out of cash, and make sure that the operation
created will eventually become profitable.
3. Financial planning also involves an analysis of possible future events and
how these events might affect the firm.
4. Proper utilization of funds are critical to business success.
5. Financial planning is the task of determining how the business will afford to
achieve its goals.
6. The project cost is the total income on the first year of starting the business.
7. Debts and loans are the two types or sources of start-up capital.
8. The business plan is the only requirement to apply for a business loan.
9. A debt is borrowed money, usually, from a lending institution.
10. The owner’s equity is also sometimes called the risk capital.
11. Financial statements provide major financial data about the business.
12. The projected cash flow informs the entrepreneur when sales can generate
enough money to cover cash requirements for each period.
13. The balance sheet will give the financial profile of the business at any given
point showing its assets, liabilities, and net worth.
14. The income statement is different from the profit and loss statement.
15.There are income statements of a manufacturer, trader, and a service
provider are all the same.
16. Financial ratios are created using the figures found in the financial
statements.
17. Current ratio indicates the extent to which the claims of short-term lenders
are covered by current assets.
18. Gross profit margin indicates the average mark-up on products sold.
19. To compute for the gross profit margin, divide net income by the sales.
20. Dividing sales by the average fixed asset results to total asset turnover.

Additional Activity
You were asked to keep a back-up copy of your What I Can Do activities
since the second quarter. To further refresh and complete what you have learned
in the modules for the subject, compile all your Business Plan Booklet activities
in one document. Save the file in DOCX or PDF. Follow instructions for uploading
your work output. The rubric for the activity is shown below.

Parts 1 to 18 35
Timeliness and instruction compliance 5
Total Activity Points 40
Bonus: Executive summary 5
Cover page (showing the business idea) 5

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What I Can Do
Recall the business idea you have been discussing in the activities (What I
Can Do) last 2nd Quarter. Remember, the business idea will guide you as you write
the rest of the Business Plan. Accomplish this Part 5 of your Business Plan Booklet
found on the next page. Discuss the legal form of ownership of your proposed
business.

Make sure to keep a back-up copy of this activity. The rubrics below will be
accomplished by the subject teacher.

Rubric for the Activity

10 7 4 2
Content Content is Content is Content is Content is
The writeup accurate and all accurate but either inaccurate or
contains required some questionable or not in any way
appropriate information is information is incomplete. related to the
information presented in a missing and/or Information is business idea
appropriate to logical order. not presented in not in a logical previously
assigned topic. a logical order. order. discussed.
Mechanics 10 7 4 2
Spelling, No spelling, A few (2-3) No more than 7 More than 7
grammar, and grammar, or errors in spelling, spelling,
punctuation in punctuation spelling, grammar or grammar or
any text on the errors in the grammar or punctuation punctuation
poster is text. Text is in punctuation. errors. Most of errors. Text is
accurate. the student’s Most text is in the text is not in copied or not
own words. student’s own own words included.
(This criterion will
only be applicable
words. and/or no text
if the content is included.
appropriate.)

Name: ________________________________________ Subject: STVE Entrepreneurship

Grade-Section: ________________________________ Teacher: Meien Salvador

BUSINESS PLAN BOOKLET

14.SOURCE OF FUNDS
(Financial Plan)

Equity Debt Total

Fixed Investments
Pre-operating Costs
Working Capital
Total Project Cost ₱ ₱ ₱

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15.PROJECTED INCOME STATEMENT

(Financial Plan)

If manufacturer or trader:
Year 1 Year 2 Year 3
Total sales
Less: cost of goods sold
Gross Profit from Sales
Less: Selling expenses
Less: Administrative expenses
Net Operating Profit
Less: Interest charges
Net Income before Taxes

If service provider:
Year 1 Year 2 Year 3
Selling expenses
Administrative expenses
Depreciation for machines,
equipment, tools
Total supplies/spare parts used
Total expenses

Year 1 Year 2 Year 3

Total sales
Less: Total expenses
Net Operating Profit
Less: Interest Charges
Net Income before Taxes

Name: ________________________________________ Subject: STVE Entrepreneurship

Grade-Section: ________________________________ Teacher: Meien Salvador

BUSINESS PLAN BOOKLET

16.PROJECTED CASH FLOW

(Financial Plan)

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Pre- Year 1 Year 2 Year 3

operating
Cash Inflows
Loan proceeds
Owner’s Equity
Cash sales
Add: Collection of
receivables
Total Cash Inflows

LESS: Cash Outflows

Pre-operating expenses
Fixed investment
Materials purchases
Direct labor
Production overhead
minus depreciation and
indirect materials
Selling and
administrative expenses
minus depreciation and
amortization of pre-
operating expenses
Total Cash Outflows

NET CASH FLOW

Add: Beginning cash 0
balance
Less: Principal
repayments / interest
payments
ENDING CASH
BALANCE

Name: ________________________________________ Subject: STVE Entrepreneurship

Grade-Section: ________________________________ Teacher: Meien Salvador

BUSINESS PLAN BOOKLET

17.PROJECTED BALANCE SHEET

(Financial Plan)

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Pre- Year 1 Year 2 Year 3

operating
ASSETS
Cash
Accounts receivable
Raw materials inventory
Finished goods inventory
Merchandise inventory
Supplies and spare parts
inventory
TOTAL CURRENT ASSETS
Property, plant, and
equipment
Less: Accumulated
depreciation
NET PROPERTY, PLANT,
AND EQUIPMENT
Pre-operating expenses
Less: Amortization of
pre-operating expenses
NET PRE-OPERATING
EXPENSES
TOTAL ASSETS

LIABILITIES AND
OWNER’S EQUITY
Accounts Payable
Current portion of loans
payable
TOTAL CURRENT
LIABILITIES
Long-term loans
TOTAL LIABILITIES

Owner’s equity
Retained earnings
TOTAL OWNER’S EQUITY
TOTAL LIABILITIES AND
OWNER’S EQUITY

Name: ________________________________________ Subject: STVE Entrepreneurship

Grade-Section: ________________________________ Teacher: Meien Salvador

BUSINESS PLAN BOOKLET

18.FINANCIAL RATIOS
(Financial Plan)

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Ratio Equation Computation

Gross profit margin (Sales – Cost of goods sold) ÷ Sales
Net profit margin Net income ÷ Sales
Return on equity Net income ÷ Total equity
Return on investment Operating income ÷ Total assets
Total asset turnover Sales ÷ Average total assets
Fixed asset turnover Sales ÷ Average fixed assets
Inventory turnover Cost of goods sold ÷ Average inventory
Current ratio Current assets ÷ Current liabilities
Current assets less Inventory less Prepaid expenses
Quick ratio
Current liabilities
Debt equity ratio Long-term liabilities ÷ Equity

ANSWER SHEET
What I Know
1. ____________ 5. ____________ 9. ____________ 13. ____________ 17. ____________
2. ____________ 6. ____________ 10. ____________ 14. ____________ 18. ____________
3. ____________ 7. ____________ 11. ____________ 15. ____________ 19. ____________
4. ____________ 8. ____________ 12. ____________ 16. ____________ 20. ____________

What’s New
__________________________________________________________________________________
__________________________________________________________________________________

What’s More

(1)_____________________________________________________________________(2)________
_____________________________________________________________(3)__________________
___________________________________________________

What I Have Learned

1. ____________ 4. ____________ 7. ____________ 10. ____________ 13. ____________
2. ____________ 5. ____________ 8. ____________ 11. ____________ 14. ____________
3. ____________ 6. ____________ 9. ____________ 12. ____________ 15. ____________

Assessment
1. ____________ 5. ____________ 9. ____________ 13. ____________ 17. ____________
2. ____________ 6. ____________ 10. ____________ 14. ____________ 18. ____________
3. ____________ 7. ____________ 11. ____________ 15. ____________ 19. ____________
4. ____________ 8. ____________ 12. ____________ 16. ____________ 20. ____________

References
BOOK

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UP ISSI-SERDEF. (2007). “Managing the Financial Aspect of the Enterprise” in

Introduction to Entrepreneurship (Rev. ed.). Quezon City. SERDEF-ISSI.

UP ISSI-SERDEF. (2007). “The Project Feasibility Study and the Business Plan” in
Introduction to Entrepreneurship (Rev. ed.). Quezon City. SERDEF-ISSI.

UP ISSI-SERDEF. (2007). “Your Business Plan Workbook” in Introduction to

Entrepreneurship (Rev. ed.). Quezon City. SERDEF-ISSI.

E-BOOK

International Labour Office. (2015). “Part X: Financial Planning” in Start Your

Business: Manual. Start and Improve our Business (SIYB) Programme.
Switzerland. ILO Publications

INTERNET

Mckinney, P. and Scalia, S. (2016, March). “What Is a Financial Plan for a

Business? - Definition & Example.” Retrieved from
https://study.com/academy/lesson/what-is-a-financial-plan-for-a-
business-definition-example-quiz.html.

Amortization definition. 2021. Accountingtools.com. Retrieved from

https://www.accountingtools.com/articles/what-is-amortization.html

Development Team of the Module

Writer: Meien Grace C. Salvador, TI

Content Validator: Jomar P. Mogado, MT II
Proofreader: Bernie Ybanez,
Cover Illustrator: Christopher E. Mercado

Nerissa S. Estrella
ASP II / OIC – Office of the Principal

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For inquiries or feedback, please write or call:

Schools Division Office-Marikina City

Email Address: [email protected]

191 Shoe Ave., Sta. Elena, Marikina City, 1800, Philippines

Telefax: (02) 682-2472 / 682-3989