Howdy anserguy-ga!
Essentially, a person's or company's financials contain:
The worth of the person/company, including:
- money (cash) the person/company owns
- real property (house for a person, building for a company)
- real estate (land)
- other real property owned (cars, equipment, etc.)
The liabilities of the person/company, including:
- outstanding debts, such as credit card balances or loans
Cash flow of the person/company, including:
- regular income, such as salary or sales
- regular expenses, such as phone or electric bills
You can also include anything that affects any of the above, such
as regular stock dividends that are received (income), or interest
on saving accounts or other investments.
A sample personal financial statement form can be downloaded from
the United States Small Business Administration web site.
http://www.sba.gov/sbaforms/sba413.pdf
If you need the free Adobe Acrobat Reader to view the PDF document
referenced above, you can download it from the Adobe website.
http://www.adobe.com/products/acrobat/readstep2.html
Atlas Business Solutions, Inc. has a great web site that contains
definitions and details on financials, also known as a financial
statement, in the context of a business plan.
http://www.bptools.com/businessplans/
"The financials most commonly included in a business plan are a
beginning balance sheet and three years' worth of balance sheets,
profit and loss projections, cash plans, and ratio analysis reports.
Financial projections are not only essential for potential investors
who need to see how you are going to repay them."
Beginning balance sheet definition:
"A beginning balance sheet is a financial snapshot of your business at
the beginning of your forecast. It lists your business's assets,
liabilities, and owners' or stockholders' equity. Assets are anything
your business owns that has monetary value, liabilities are the claims
of creditors against the assets of the your business, and equity is
calculated by subtracting your liabilities from your assets. Basically,
it shows how much you have, how much you owe, and the difference is your
equity level."
Details on a beginning balance sheet:
http://www.bptools.com/businessplans/beginningbalancesheet.epl
Sample beginning balance sheet:
http://www.bptools.com/products/ubp/tour/screenshots/screen.sr1.epl
Balance sheet definition:
"Typically, at the end of every month of operation, a balance sheet is
built showing how the operation of the business affected the assets,
liabilities, and equity of the business."
Details on a balance sheet:
http://www.bptools.com/businessplans/balancesheet.epl
Sample balance sheet:
http://www.bptools.com/products/ubp/tour/screenshots/screen.sr1.epl
Profit and loss definition:
"A profit and loss projection (P&L) shows you how much revenue your
business will generate from the sale of products and services and
lists your operating expenses. Revenues minus expenses is how much
income your business produces."
Details on profit and loss statement:
http://www.bptools.com/businessplans/profitandloss.epl
Sample profit and loss statement:
http://www.bptools.com/products/ubp/tour/screenshots/screen.sr2.epl
Cash plan definition:
"A cash plan shows you how much cash is coming into your business and
how much cash is going out. It also shows how much cash will be left
over or how much additional cash you will need to pay your expenses."
Cash plan details:
http://www.bptools.com/businessplans/cashplan.epl
Sample cash plan:
http://www.bptools.com/products/ubp/tour/screenshots/screen.sr4.epl
If you need any clarification, feel free to ask.
Search Strategy:
Google search on: "what are financials"
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Google search on: "personal financial statement"
://www.google.com/search?q=%22personal+financial+statement%22
Google search on: "business financial statement"
://www.google.com/search?q=%22business+financial+statement%22
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