The Happy Accountant

A business plan should always include an analysis and forecast of the company’s financial position.  It will detail things such as:

start up costs
personal investment
additional sources of finance
cashflow forecast
profit & loss forecasts
balance sheet forecasts
historical financial information (if the business is an existing one rather than a start up)

Just as important as the figures themselves are

details of [...]

This is the area where, if you haven’t already covered it elsewhere, you can demonstrate your deep understanding of the business, marketing and sales, as well as areas such as capital expenditure, recruitment, statutory compliance and timing (as it applies to your business).

If you are a manufacturer, you need to detail how you are going to produce the goods, literally.  For example: what sort of equipment is required?  Where will manufacturing take place?  What are the costs involved?  What are your timescales? Where will your materials come from? Who are your suppliers?
This section also encompasses things like [...]

This section of the business plan assesses the market that you are pitching for.  It covers things like:

price
competitors
where the gap in the market is assumed to be
substitute products or services
Your unique selling point
How will you react to your competitors
legal protection (such as patents, copyright registration)
market share
marketing strategy

This section outlines the key people who will be responsible for delivering the plan.  These might be directors, non-executive directors, managers or employees. It normally includes a brief CV for each person demonstrating their relevant experience for their role in the plan.  The purpose is to show that the team is competent and experienced.  It is [...]

If  there is a history to either the company, the idea or product, it could also be included in the business plan.  It might detail the company’s past performance, successes or other notable information.

This sums up, the key elements of the business, and may include:

what the product or service is
the market it is aimed at
why they will buy it
what the result will be
key reasons for success
barriers to entry to the market
risks and how they will be managed
strategic objectives
potential for growth
key strecths of the management team
summary financial projections

Reason One
The first reason for writing a business plan is to formally decide what the company is doing, where it is going and how it will get there - kind of a “focusing the mind” exercise.
Reason Two
The second reason, which is possibly the primary reason why people call in accountants and business advisors, is to [...]

The great thing about MS Excel (and others say it’s greatest downfall) is that it is so adaptable and because it normally comes bundled with the PC you bought for your business, it’s cheaper than buying accounting software.
For start ups and possibly for the sole trader or small limited company, it’s a very easy way of keeping track of [...]

Investment Income
The various types of investment income can be broken down into three main headings:

Income from shares
Income from other fixed assets (for example, property)
Interest

If there are any losses or interest payable, these are then deducted (but they are shown separately on the face of the Profit and Loss Account as opposed to being hidden away in a note to [...]