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Canada (510,160)
Accounting (31)
BAC121 (30)
Lecture

business plan

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Department
Accounting
Course
BAC121
Professor
Serge Coulombe
Semester
Fall

Description
What is the Business Plan The business plan sets out how the ownersmanagers of a business intend to realise its objectives Without such a plan a business is likely to driftThe business plan serves several purposesit 1 enables management to think through the business in a logical and structured way and to set out the stages in the achievement of the business objectives 2 enables management to plot progress against the plan through the management accounts 3 ensures that both the resources needed to carry out the strategy and the time when they are required are identified 4 is a means for making all employees aware of the businesss direction assuming the key features of the business plan are communicated to employees 5 is an important document for for discussion with prospective investors and lenders of finance eg banks and venture capitalists 6 links into the detailed shortterm oneyear budgetThe Link Between the B
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