ABSTRACT
This chapter presents an integrated spreadsheet model that allows the entrepreneur to place all forecasts, assumptions, goals, and objectives into a single spreadsheet. There are three versions of the Integrated Financial Statements Template Spreadsheet. The first version is for businesses that have inventory. The second version is for businesses with no inventory. The third version is for nonprofits, which are part of a new field of entrepreneurship called social entrepreneurship. The plan for the entrepreneur’s income from the business should be as deliberate and explicit as the plan to pay rent and employee payroll. Once the entrepreneur establishes the wealth and income goals for the business that will serve as the foundation of financial planning, the actual spreadsheet modeling can begin. A business plan typically includes a most-likely-case scenario and a worst-case scenario of assumptions and the accompanying financial statements, particularly if bank financing is being pursued.
