To the blog for small and medium sized business (SME) owners.

Monday, March 26, 2007

Financial Plans

There may be a desire to develop a financial forecasting model, using spreadsheets, on cost grounds. Whilst the up-front investment price of a proprietary financial forecast model will be avoided, care should be taken to ensure the total cost, including your own time, of developing and updating your own model does not exceed that of purchasing proprietary software.

Remember a financial forecast including profit and loss, balance sheets, cash flow, and funds flow is a complex model and will require much time to develop and test.

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