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Practical Advice
Contents of a Financial Business Plan
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A financial business plan outlines the financial estimates of a venture. It gives insight on the start-up and running costs of the firm. It can also reveal whether your business will be making profits or loss in the long run. It comprises of three main elements namely the balance sheet, the profit and loss statement and the cash flow statement.


Essential statements in the financial section of a business plan

1. Balance Sheet – Statement of Financial Position

This statement shows the worth of business at a particular date usually the end of a financial year. It has three main...

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4 top skills CFOs must adopt in the digital age
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Digital revolution is now changing the way business organisations operate. Thanks to data technology, existing business models and services are quickly rendering. As a result, many top companies including automotive, telecommunication, and media are being reshaped in order to give rivals a competitive advantage. Here are some of the essential skills CFOs must have to stay ahead in the digital age:


CFOs must become analytics experts

A CFO should only spend 10 per cent of their time and efforts on transactional and the remaining 90 per cent on analytics. The more time they invest on...

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A brief overview of Germans' saving habits
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In the past twenty years, Germans’ spending and saving habits haven’t drastically changed, as the latest study carried out in Europe. It is clear that the majority of Germans still prefer risk-free investments and this trend is set to continue. While it is true that Germany is Europe’s biggest and richest economy, the percentage of homeowners in this country is just over 40 per cent. 


Germans are reluctant to buy homes

When comparing Germany’s home ownership data with the rest of EU, countries like Spain, Greece, and Italy make up around 80 per cent...

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