Computer Buyer 1996 May

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B-Plan Template B-Plan International Software Ltd. ─────────────────────────────────────────────────────────────────────────────── Table of Contents ───────────────── Page Executive Summary....................................... The Company - History and Present....................... The Products and Services............................... The Market Analysis..................................... The Marketing Strategy and Plan......................... The R&D Plan............................................ Management and Organization............................. The Operational Plan.................................... Facilities and Equipment................................ The Financial Plan...................................... Appendices.............................................. Curriculum Vitae...................................... The Technology........................................ Executive Summary ───────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │ The executive summary is a crucial part of the business plan. Most business │ │ plan readers will make their decision either to continue reading the full │ │ business plan or to stop, based on their impressions from the executive │ │ summary. │ │ │ │ This chapter should give the "five minute reader" a clear and short view of │ │ the main business and the business opportunity. Therefore the Executive │ │ Summary │ │ should deal with the following : │ │ │ │ 1. The Business Description │ │ 2. The Products │ │ 3. The Market & Business Opportunity │ │ 4. The Financial Highlights │ └─────────────────────────────────────────────────────────────────────────────┘ The Business Description ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe briefly and clearly the business including the main activities, │ │date of establishment, the owners, the market positioning and the │ │main objectives. │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Products and Services ───────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe in short the main products, product lines or services. Try to │ │emphasize the main advantages of your product. Be aware that the potential │ │investor needs to understand what differentiates your products. Do not │ │forget that the potential investor is after a "winning product". │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Market & Business Opportunities ─────────────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Give a short description of the target markets, the market size, your │ │product's market share. Devote a few sentences to the business opportunity │ │that the market offers. │ └─────────────────────────────────────────────────────────────────────────────┘ The Financial Highlights ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Give a short description of the projected financial highlights for the │ │forecasting period. The financial highlights should present the projected │ │sales, profit, cash flow, main financial indicators and the required │ │investment. │ └─────────────────────────────────────────────────────────────────────────────┘ The projected sales for the period 19xx-19xx are about xxx million dollars, which yield over xxx million dollars net profit (xx % return on sales). After the first x years, sales of xx million dollars and net profit of xx million dollars are expected. The company plans to be profitable within xx years, and the expected Payback period is x years (based on xx million dollars investment). The expected N.P.V. (Net Present Value - discounted by xx%) is about xx million dollars and the expected I.R.R. (Internal Rate of Return) over the period is above xx%. ┌───────────────────────────────────┐ │ Use B-Plan Highlights report │ └───────────────────────────────────┘ The Financial Requirements ────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the future financial requirements to cover the expected needs. │ │You may find the following table useful : │ │ │ └─────────────────────────────────────────────────────────────────────────────┘ ┌────────────────────────┬────────────────────────┬────────────────────────┐ │ │ Period 1 │ Period 2 │ ├────────────────────────┼────────────────────────┼────────────────────────┤ │ Equity │ │ │ │ Owners Loans │ │ │ │ Loans │ │ │ │ Other │ │ │ ├────────────────────────┼────────────────────────┼────────────────────────┤ │ Total Financial │ │ │ │ Requirements │ │ │ ├────────────────────────┼────────────────────────┼────────────────────────┤ │ Fixed Assets │ │ │ │ Research & Development │ │ │ │ Working Capital │ │ │ │ Contingency │ │ │ ├────────────────────────┼────────────────────────┼────────────────────────┤ │ Total Financial Needs │ │ │ └────────────────────────┴────────────────────────┴────────────────────────┘ The Company - History and Present ───────────────────────────────── (for existing company only) The Company's Main Business ─────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the company's main business, company objectives, main products, │ │target markets , major customers, product positioning in the market, │ │market share and company facilities. │ └─────────────────────────────────────────────────────────────────────────────┘ The Company's Owners ──────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Explain who are the company owners, what are their main businesses. │ │Note that one of the important questions that any investor asks is: │ │" with who do I intend to do business?". │ └─────────────────────────────────────────────────────────────────────────────┘ The Financial Position and Past Performance ─────────────────────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │One of the major elements that requires clear explanation is the financial │ │situation and the last five years performance. Therefore define │ │the following: │ │1. The revenue over the last five years. │ │2. The profits over the last five years. │ │3. The total assets over the last five years. │ │4. The total liabilities over the last five years. │ │5. The main financial ratios over the last five years. │ └─────────────────────────────────────────────────────────────────────────────┘ ┌───────────────────────────────┬─────────┬──────────┐ │ │ 19XX │ 19XX │ ├───────────────────────────────┼─────────┼──────────┤ │Revenue │ │ │ │Net Profit │ │ │ │Net Profit (% of Sales) │ │ │ │Equity │ │ │ │Total Assets │ │ │ └───────────────────────────────┴─────────┴──────────┘ ┌─────────────────────────────────────────┐ │ Use B-Plan Previous Ratios Report │ └─────────────────────────────────────────┘ The Products and Services ───────────────────────── General ─────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │This chapter should present the main products, product lines or services │ │that the business offers. "How the Product meets the Market Needs". │ │It is well known that a winning product is one that satisfies market needs. │ │To be a real winner your product should give the best solution to market │ │needs,. Therefore you must explain very carefully the following : │ │- What is the market demand │ │- How your product satisfies market needs │ │- The product main advantages │ │ │ └─────────────────────────────────────────────────────────────────────────────┘ The Product Description and Specifications ────────────────────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the product's main features and specifications. │ │The description should be clear and understandable. │ │Describe the following: │ │- A general description │ │- The main features │ │- The main specifications │ │- The operational method │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Product Costing ─────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │You are required to define the product costing by main features and main │ │inputs. The main product inputs are: │ │ - Direct labor │ │ - Materials │ │ - Sub-contractors │ │ - Other │ │If you estimate future trends in product costing, present the projected │ │trends. If you are in the preliminary R&D stage, describe the expected │ │variance range. │ └─────────────────────────────────────────────────────────────────────────────┘ ┌───────────────┬─────────┬─────────┬───────────┬──────────┬───────────┐ │Main Components│ Labor │ Labor │ Material │ Other │ Total │ │ │ Hours │ Cost │ Cost │ Cost │ Cost │ ├───────────────┼─────────┼─────────┼───────────┼──────────┼───────────│ │ 1. │ │ │ │ │ │ │ 2. │ │ │ │ │ │ │ 3. │ │ │ │ │ │ │ 4. │ │ │ │ │ │ │ 5. │ │ │ │ │ │ ├───────────────┼─────────┼─────────┼───────────┼──────────┼───────────┤ │TOTAL │ │ │ │ │ │ └───────────────┴─────────┴─────────┴───────────┴──────────┴───────────┘ The Competitive Products ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │List the major existing or anticipated competitor products and describe │ │their advantages and disadvantages compared to your product, such as : │ │ - Price │ │ - Performance │ │ - Quality │ │ - Support │ │ - Easy to use │ │ - Capacity │ │ - Life cycle │ │ It is very useful to present a comparative analysis as follows: │ └─────────────────────────────────────────────────────────────────────────────┘ Competitive Analysis ──────────────────── ┌────────────────┬─────────────────┬────────────────┬───────────────────┐ │ │ Competitor A │ Competitor B │ Planned Product │ ├────────────────┼─────────────────┼────────────────┼───────────────────┤ │ 1. Price │ $ │ $ │ $ │ │ 2. │ │ │ │ │ 3. │ │ │ │ │ 4. │ │ │ │ │ 5. │ │ │ │ │ 6. │ │ │ │ │ 8. │ │ │ │ │ 9 │ │ │ │ └────────────────┴─────────────────┴────────────────┴───────────────────┘ The Market Analysis ─────────────────── General ─────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Introduce the target market and explain the need and demand, major │ │characteristics, market size and the business opportunity. │ └─────────────────────────────────────────────────────────────────────────────┘ Segmentation ──────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │In order to evaluate the market we need to divide the overall market to │ │specific segments. The main segmentation keys are : │ │1. By geographical marketplace │ │2. By customer type │ │3. By application type │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Market Size & Trends ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Evaluate the market size and trends per market segment. Table presentation is│ │recommended. │ └─────────────────────────────────────────────────────────────────────────────┘ ┌──────────┬────────────────┬──────────────────┐ │ │ 19xx │ 19xx │ ├──────────┼───────┬────────┼────────┬─────────┤ │Segment │ Market│ Market│ Market│ Market │ │ │ Share │ Size │ Share │ Size │ ├──────────┼───────┼────────┼────────┼─────────┤ │ 1 │ XX % │ $ XX M│ XX % │ $ XX M │ │ 2 │ XX % │ $ XX M│ XX % │ $ XX M │ │ 3 │ XX % │ $ XX M│ XX % │ $ XX M │ │ 4 │ XX % │ $ XX M│ XX % │ $ XX M │ │ 5 │ XX % │ $ XX M│ XX % │ $ XX M │ ├──────────┼───────┼────────┼────────┼─────────┤ │ Total │ 100% │ $ XX M│ 100 % │ $ XX M │ └──────────┴───────┴────────┴────────┴─────────┘ The Competition ─────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe your main competitors. The main aspects that you should discuss are:│ │1. Who is the competitor │ │2. How strong is he in the market │ │3. What is his market share │ │4. What are the distribution channels │ └─────────────────────────────────────────────────────────────────────────────┘ ┌──────────┬─────────┬─────────┬────────────┬────────────┬───────────┐ │Competitor│Current │Current │Growth │Distribution│ Strength │ │ │Market │Sales │Trends │Channels │ (Scale │ │ │Share │($M) │(%) │ │ 1 to 10) │ │ │(%) │ │ │ │ │ ├──────────┼─────────┼─────────┼────────────┼────────────┼───────────┤ │1. │ │ │ │ │ │ │2. │ │ │ │ │ │ │3. │ │ │ │ │ │ │4. │ │ │ │ │ │ │5. │ │ │ │ │ │ └──────────┴─────────┴─────────┴────────────┴────────────┴───────────┘ The Marketing Strategy and Plan ─────────────────────────────── The Marketing Objectives ─────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the main strategy and objectives. │ │Main objectives to be considered are: │ │1. Profitability goals │ │2. Sales targets │ │3. Market share targets │ │4. Product positioning │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Marketing ───────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe your existing and planned marketing and sales activities including: │ │1. The marketing organization structure │ │2. The main marketing and sales activities │ │3. The sales and distribution channels │ └─────────────────────────────────────────────────────────────────────────────┘ The Marketing Setup Structure ───────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the existing marketing and sales structure and how it operates. │ │Then, explain how it will operate in the future. You should mention : │ │ - The basic approach │ │ - Staff │ │ - Structure │ │ - Location │ └─────────────────────────────────────────────────────────────────────────────┘ The Basic Approach ────────────────── Staff ───── Structure ───────── Location ───────── Promotion Plan ────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Present the promotion plan (what, how, when), including: │ │- Advertising │ │- Public Relations │ │- Exhibitions │ │- Sales promotion material │ │- Special events │ │- Other activities │ └─────────────────────────────────────────────────────────────────────────────┘ Advertising ─────────── Exhibitions ─────────── Sales Promotion Material ──────────────────────── Special Events ────────────── Other Activities ──────────────── Sales and Distribution Channels ─────────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe the existing and the planned distribution channels and tactics , │ │and analyze why they fit the organization needs. │ │ │ └─────────────────────────────────────────────────────────────────────────────┘ 1. 2. 3. The Pricing Policy ────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Explain your pricing policy and quote your product sales price. │ └─────────────────────────────────────────────────────────────────────────────┘ The Sales Plan ────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Present your sales plan including sales quantities, sales price, revenues. │ └─────────────────────────────────────────────────────────────────────────────┘ ┌───────────────────────────┐ │Use B-Plan Sales report │ └───────────────────────────┘ The Marketing Budget ──────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │ │ │Prepare a marketing budget. The marketing budget includes : │ │ - Salary │ │ - Commissions │ │ - Advertising │ │ - Public Relations │ │ - Travels │ │ - Exhibitions │ │ - Sales promotion material │ │ - Special events │ │The convenient way to present the budget is by table. │ └─────────────────────────────────────────────────────────────────────────────┘ ┌────────────────────────────────────────┐ │ Use B-Plan marketing budget report │ └────────────────────────────────────────┘ The Research & Development Plan ──────────────────────────────── General ─────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Business plan dealing with a new product requires an R&D plan. │ │The R&D plan should deliver to the reader a clear picture about the plan │ │and the risks involved. │ │Give a short description of the goals , objectives and the main plan. │ └─────────────────────────────────────────────────────────────────────────────┘ The Major Milestones and Timetable ────────────────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Present the main milestones and prepare a timetable covering the R&D plan │ │period. Table presentation is recommended │ └─────────────────────────────────────────────────────────────────────────────┘ ┌───────────┬─────────────┬─────────────────────────────────────────────────┐ │ │ │ Months │ │ │ ├───┬───┬───┬───┬───┬───┬───┬───┬───┬────┬────┬───┤ │Activities │ Man │ 1 │ 2 │ 3 │ 4 │ 5 │ 6 │ 7 │ 8 │ 9 │ 10 │ 11 │12 │ │ │ Months │ │ │ │ │ │ │ │ │ │ │ │ │ ├───────────┼─────────────┼───┼───┼───┼───┼───┼───┼───┼───┼───┼────┼────┼───┤ │1. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │2. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │3. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │4. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │5. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │6. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │7. │ │ │ │ │ │ │ │ │ │ │ │ │ │ │8 │ │ │ │ │ │ │ │ │ │ │ │ │ │ │9. │ │ │ │ │ │ │ │ │ │ │ │ │ │ └───────────┴─────────────┴───┴───┴───┴───┴───┴───┴───┴───┴───┴────┴────┴───┘ The R&D Budget ────────────── ┌──────────────────────────────────┐ │ Use B-Plan R&D budget report │ └──────────────────────────────────┘ Management & Organization ───────────────────────── The Management ───────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │ The management is the key for success. Usually investors will consider │ │ the key personnel on the management team as a major success parameter. │ │ Your aim is to convince the reader that the you have a winning team. │ │ Describe briefly your key personnel: │ │ 1. Position │ │ 2. Experience │ │ 3 Education │ └─────────────────────────────────────────────────────────────────────────────┘ Brief Resume : ┌────────────────────────────────────────────────────────────────────────────┐ │Name: │ │ │ │Title : │ │ │ │Responsibilities: │ │ │ │Education : │ │ │ │Background & Experience : │ │ │ └────────────────────────────────────────────────────────────────────────────┘ The Organization ──────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Draw up your organizational structure and describe the main │ │sub-organization units such as: factories, departments, main │ │production lines. │ └─────────────────────────────────────────────────────────────────────────────┘ The Operational Plan ──────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │ if your business plan deals with manufacturing industry you │ │ should describe your production environment as follows: │ │ 1. The production structure │ │ 2. The production process │ │ 3. The special facilities and equipment │ │ 4. The main subcontractors │ │ 5. The main material suppliers │ │ │ │ If your business plan deals with the trade or services industry you should │ │ include in your operational plan : │ │ │ │ 1. The operational structure │ │ 2. The services and activities │ │ 3. The facilities and equipment │ │ 4. The main suppliers │ └─────────────────────────────────────────────────────────────────────────────┘ Facilities and Equipment ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │Describe your fixed assets investment plan. The plan should include │ │1. The main equipment, plant and other investments required. │ │2. The cost, including set-up expenses │ │3. The purchasing period │ └─────────────────────────────────────────────────────────────────────────────┘ ┌───────────────────────────────────────────┐ │ Use B-Plan Fixed Assets Budget report │ └───────────────────────────────────────────┘ The Financial Plan ────────────────── The Financial Highlights ──────────────────────── ┌─────────────────────────────────────────────────────────────────────────────┐ │ Notes (not to be printed) │ ├─────────────────────────────────────────────────────────────────────────────┤ │The financial highlights should draw the main projected financial │ │picture based on the plan and the basic assumptions as presented in │ │other chapters. It should also include: interest rates, depreciation, │ │terms of payment. │ └─────────────────────────────────────────────────────────────────────────────┘ The Projected sales for the period 19xx-19xx are about xxx million dollars, which yield over xxx million dollars net profit (20 % return on sales). After the first x years, sales of xx million dollars and net profit of xx million dollars are expected. The company Plans to be profitable within x years, and the expected Payback period is x years (based on x million dollars investment). The expected N.P.V. (Net Present Value - discounted by xx%) is about xx million dollars and the expected I.R.R. (Internal Rate of Return) over the period is above xx%. ┌──────────────────────────────────┐ │ Use B-Plan Highlights report │ └──────────────────────────────────┘ Scenario Analysis ───────────────── ┌───────────────────────┬────────────────┬─────────────────┬────────────────┐ │ │ Pessimistic │ Most Likely │ Optimistic │ ├───────────────────────┼────────────────┼─────────────────┼────────────────│ │sales- quantities │ │ │ │ │Sales- price │ │ │ │ ├───────────────────────┼────────────────┼─────────────────┼────────────────┤ │Sales │ │ │ │ │Net Profit │ │ │ │ │Net Profit (% of Sales)│ │ │ │ └───────────────────────┴────────────────┴─────────────────┴────────────────┘ Break Even Analysis ─────────────────── ┌──────────────────────────────────────────┐ │Use B-Plan Break Even Analysis report │ └──────────────────────────────────────────┘ Sensitivity Analysis ──────────────────── ┌──────────────────────────────────┐ │Use B-Plan Sensitivity report │ └──────────────────────────────────┘ The Basic Assumptions ───────────────────── The financial projection is based among other things, on the following data and assumptions : ┌────────────────────────┬─────────────────────────┐ │Discount rate │ xx% │ │Interest rate - Debit │ xx% │ │Interest rate - Credit │ xx │ │Inventory cycle │ xx Months │ │Production O/H │ xx% of .......... │ │Sales commissions │ xx% of .......... │ │Marketing Expenses │ xx% of .......... │ │G & A │ xx% of .......... │ └────────────────────────┴─────────────────────────┘ Depreciation period (Straight line) in years : ┌────────────────────────┬────────────┐ │Plant │ xx │ │Production line │ xx │ │Office equipment │ xx │ │Computers │ xx │ └────────────────────────┴────────────┘ Salary level (in $ thousands per annum) : ┌────────────────────────┬────────────┐ │Direct labor │ xx │ │Indirect production │ xx │ │R&D │ xx │ │Engineering │ xx │ │Marketing │ xx │ │G&A │ xx │ └────────────────────────┴────────────┘ Proforma Profit & Loss report ───────────────────────────── ┌─────────────────────────────────────┐ │ Use B-Plan Proforma P&L reports │ │ (5 Year Plan and 12 Month Budget) │ └─────────────────────────────────────┘ Proforma Cash Flow report ───────────────────────── ┌───────────────────────────────────────────┐ │ Use B-Plan Proforma Cash Flow reports │ │ (5 Year Plan and 12 Month Budget) │ └───────────────────────────────────────────┘ Proforma Balance Sheet report ───────────────────────────── ┌───────────────────────────────────────────────┐ │ Use B-Plan Proforma Balance Sheet reports │ │ (5 Years Plan and 12 Month Budget) │ └───────────────────────────────────────────────┘