Author Announcement:A lot of analyst and authors has described about the similarity & non- conformity between profit and non- profit business paneling, although they explained very well but sometimes it’s really difficult to understand for the learners clearly. I had an awful experience when I was a learner. Now, as a financial analyst I felt to write this matterin a very and easy way so that the learners/professionals don’t have to go door to door to understand this.
Introduction:profit and non-profit businesses planning are similar in many ways. Both are generally businesses in which properties are held and business transacted in the name of the business rather than the persons involved. To carry on and rise, both need to generate or bring in more profits than they spend on procedures. Both are involved in producing a good or service for people. And, of course, both are managed and run by the people who are employed by the business.
Business review:
Business review explained the organization, business project or product, reviewing its purpose, management, operations, marketing and finances. Every category of business plan requires analysis, careful assessment of all known factors, and analytical potential results of special options that are open to the company
Meaning of Profit Company:
It is obvious that every business function in order to earn profit. In most cases the main ambition of a business is making profit. A business may have other ambitions but if they do not earn profit in the business then they will have to end the business.
In this article I have presented what is the meaning of profit and how it is obtained. What is business profit? The easiest way to elucidate profit is the income a company earned in a certain period of time. There are two types of profit specifically gross profit and net profit. Gross profit is not the actual profit of a business and it is found by deducting the cost of goods sold from net sales. Thus, net profit is considered as the actual profit retained by a business and it is actually the variation among the revenue earned by the company and the expenses incurred.
Profit margin is very useful when comparing companies in similar industries profit calculated as net income divided by revenues, or net profits divided by sales. It measures how much out of every sale a company actually keeps in earnings.
Meaning of non-profit company?
Operated as nearly as possible at cost; an organization not seeking profit and which does not disgorge excess income to its members, in the form of dividends or otherwise Operated as nearly as possible at cost; an organization not seeking profit and which does not disgorge income in excess of expenses to its members, in the form of dividends or otherwise.
Definition: A non-profit organization is one that has committed legally not to distribute any net earnings (profits) to individuals with control over it such as members, officers, directors, or trustees. It may pay them for services rendered and goods provided.
Why Do a Business Plan?
Business planning is an efficient and official advance to accomplishing the planning, coordinating, and control responsibilities of management. It involves the growth and purpose of: long-range objectives for the project; Business plans become visible in many special formats, depending on the consultation for the plan and difficulty of the business. However, most business plans a business plan is often prepared when:
1. Opening a new organization, business venture, or product (service) or
2. Growing, acquiring or improving any of the above.
There are numerous benefits of doing a business plan, including:
1. To identify a problem in your plans before you implement those plans.
2. To get the commitment and participation of those who will implement the plans, this leads to better results.
3. To set up a roadmap to compare results as the venture proceeds from paper to reality.
4. To accomplish greater profitability in your organization, products and services all with less work.
5. To achieve financing from investors and financer.
For these reasons, the planning process often is as useful as the business plan document itself
Similarity:
Profit and non-profit businesses are similar in many ways. There are many similarities against
Non-profits and profit businesses. The similarities are largely attributed to organizational vision, strategic planning, and mission statement and to efficiently run those processes which help support these philosophies. That is explained following
Non-profit and profit businesses are worlds distant in many of their characteristics. This is primarily due to the core ambitions and the ideology established to meet these ambitions. For profit businesses have a responsibility to give their shareholders a beneficial return while nonprofits' responsibility is naturally fixed in shared growth.
Nonprofit businesses silent have expenses and operating costs to meet so they can carry on to operate and accomplish their mission. They also have individuals and businesses to respond to and express how they are successfully operating. This is a strong similarity against Non-profits and profits.
These steps and measures involve the progress of a strategic marketing and a management plan to get their name out with the goal of bringing higher identification and wakefulness to their respective projects. Commercialized for profits are forceful in their attempts to increase recognition, but nonprofits these days are also increasing their efforts to become generally accepted. Both types of businesses use several of the same tools and methodologies to gain wakefulness and draw notice
A non-profit business is similar to a profit in the background that they both are created to fulfill the need of a specific position in the marketplace for a community of public. When anyone starts a business, the first step is to make sure that there is a need for that company to be created. If there is no need there will be no clients, and therefore the company will fail. A nonprofit is very similar. If you are looking to start a non-profit business then there must be some kind of a need for the direct service that you are going to propose.
At a glance
1. There are many similarities against for-profit and non-profit organizations. First and principal, both categories of organizations start with a solid mission report and a vision report that take the strategic planning procedure,
2. A nonprofit has ambitions other than raising profits for anyone related with it. They are established to benefit a public or private good of some kind during its behaviors, other than simply appropriate a money making activity.
3. Having worked for together non-profit organizations and for-profit business, I judge they are likeness in three ways. They together provide the wants of a role in the marketplace, work to make a difference in that role, and get paid
The overall evaluation of how a non-profit business is similarto a profit company is that they both are going to near creation change in an area of the world that it's needed, as wanting to make a similarity, and they together get paid a lot for what they do.
Non-conformity
A primary non-conformity between a nonprofit and a for-profit business is that a nonprofit does not issue stock or pay dividends, and may not augment its directors. However, like for-profit businesses, nonprofits may motionless have employees and can compensate their directors within logical limits.
1. The major non-conformity is in the legal organization of the business. A nonprofit has a shared management model- an Executive Director and a Board of Directors. A for-profit belongs to the person who took the risk of setting it up
2. A nonprofit has a dissolution clause-at the end of its life-once liabilities have been satisfied, the outstanding assets must be donated back to the public. At the end of a for-profit, the stuff outstanding belongs belongs to the debtors/owners.
3. Nonprofits can produce profits through social activity and direct it into huge salaries, programs, buildings, and build assets. Nonprofit does not equal poor companies, low salaries or small organizations.
4. Non-profit organizations are not classified from earning a profit, but legislature does impose exact policy and boundaries on them. Donors cannot receive a tax deduction for charitable donations if an organization has not applied for excused status. No charitable deduction can be received for personal benefits, such as life insurance, annuity, or endowment contracts transferred to a nonprofit organization.
Bylaws are formed setting up businesses governing rules, including decision-making strategy and selection rights. Businesses topic stock; unlike with nonprofits, voting rights go to the shareholders of the business, not the board of directors.
5. A nonprofit organization's objective is to obtain finances either through government grants or private foundations. Generally, the organization tries to keep a low operating cost by using donated facilities and equipment. Employees are generally paid less, or the organization relies on volunteers to execute day-to-day activities. Revenues generated by a nonprofit are often less than what is actually needed to meet the organization's financial needs.
A for-profit business should produce private awareness in service to the public while pursuing the objective of rotating a profit. Each business should have its own reason, and occasionally that purpose may be in disagreement with people. Ecological groups like Greenpeace often complaint and display when people's well-being is damaged by a business. Preferably a business should be an addition of its people, and compelled to manage and elucidate its contact on human being rights, public well-being, and the usual situation and prospect generations.
6. Non-profit organizations usually do not operate to make profit, a attribute broadly measured to be defining of such organizations. However, Non-profit organizations may believe, hold, and pay out money and other things of worth. It may also officially and decently deal at a profit. The scope to which it can create income may be embarrassed, or the use of those profits may be limited. Non-profit organizations so classically funded by donations from the private or public sector, and often have tax excused status. Contributions may sometimes be tax deductible.
Some 'non-profits' are operated by paid positions. As well, Non-profit organizations may have members or participants or beneficiary or students as opposed to customers in a for-profit organization. One should not oversimplify about the proportional cost of a 'non-profit' verses profit’ organization; there may be an important internalized profit in a non-profit organization.
Conclusion:this article explained some similarities in how profit and non-profit businesses are run. For example, like their business cousins, most non-profit organizations have to face stiff struggle – but rather than for a product, they are most often competing for funds, members, sponsors, media exposure and supporters. It is obvious that every business function in order to earn profit. In most cases the main ambition of a business is making profit. A business may have other ambitions but if they do not earn profit in the business then they will have to end the business.
About the Author
MHOHAMMAD WAHID ABDULLAH KHAN
S/O MOHAMMAD SAADULLAH KHAN
Dhaka, Bangladesh
Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He has published more than 100 articles & case study in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model- The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part)“WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis,Wahid theory– the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion- non-conformity among the performance audit and financial audit,Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook- The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT-difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’S MEASURE - the influential and evaluated of similarity between profit & non- profit business planning
& Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning,PPBS MODEL,
he has consulted with more than 25 service & product companies,in recent years Mr. khan has been spending most of his professional time for financial consulting , Mr. Wahid is the owner of “WAM” Associates and “WAK” business solutions;
Summary: “Wahid theory” is a new method of successful financial consulting, “Wahid theory” explanation that if you want to be a successful financial consultant, you must have brilliant diagnostic skills and great awareness to detail. Also you need to have a strong sense of purpose-it is not a job for those who are uncertain that their future lies in the financial world. A financial consultant is a practicing professional, who helps people deal with various personal financial issues through proper planning,
Financial Consultant will help you become more knowledgeable by providing research, advice and guidance regarding planning and portfolio management. Not limited to these major areas: in addition cash flow management, education & retirement planning, investment adviser, risk management and insurance consulting, tax consulting, estate planning and business succession for business owners.
Today financial consultant function lucrative profession as financial and business consultants to a wide range of industries, from global banking to service industries. A certified and expert consultant can enter into wide spectrum of the business field internationally – All the Multinational Corporations and companies need to restart their financial statements to comply with GAAP (Generally accepted accounting principle) the area where a financial specializes ( essentially financial consultant) are in demand both in practice’ and ‘industry’ sectors
Financial consultant is specifically designed to meet the demands of modern accounting professionals. This program integrates into its body of knowledge, areas like management, information technology & e-Business, code of ethics, and soft skills, along with the core areas like accounting, auditing, taxation and business law,
I believe that a financial consultant don’t just learn a business, they learn the business world. He will open doors of opportunity. A financial consultant can provide such services as auditing and accounting, tax, personal financial planning, and management consulting for diverse client’s individuals and businesses from the biggest conglomerates to the smallest start-up companies.
If you want to be a successful financial consultant, I think you need to be able to identify patterns and relationships that you help to positive result form the clients; this will prove very valuable because an integral part of being a Financial Advisor is to perceive the balance between theory and practice,
All the above discussion I confident that a profession consultant has bright future in professional area, if any an financial consultant able to perform himself, also it will raise up his business or job consultant career, My theory just guide the students, learner, & future consultant for formulate and implement the consulting aim. He will able to create a ideal platform for the dissemination of knowledge in my chosen field of specialization
I would like to elucidation my view on the enlightenment about the management consulting and financial consulting actions prior to going into the “Wahid theory” I have tried to approached all of the every importance parts about the management consulting and financial consulting, I hope it will be very helpful for understanding the “Wahid theory” that is the series of successful financial consulting, I believe that the people who are related with accounts, finance, auditing and also the business owners will recognize overall about financial consulting. What is the compulsory of financial consulting? And how “Wahid theory” helps the consultant for completing successful financial consulting,
Section – A > Overview the management consulting:
The consultants are people who are supposed to provide some useful advice to others depending on their area of proficiency. It can be anything and every thing where you can sell your knowledge in the form of advice to the clients. If you have vast knowledge and practical skills in accountancy, medicine, law, business, technology, designing, public relations or psychology, you can become a successful consultant easily as there are thousands of people who wish to acquire some helpful knowledge before plunging into these fields and they will like to seek advice from the consultants. Hence the most important element that should be present in a successful consultant is knowledge in the relevant field.
In order to consult you must have specific experience usually resulting from an in depth knowledge of a particular industry function or technique. Knowledge is of two types:
1. Theoretical knowledge2. Practical knowledge, For example- Someone with an advanced degree from a major/reputed university but with no practical experience in the real world is a candidate for on the job training and will not likely make much of a contribution to his employer, doing the early going. On the other hand because his impact has to be immediate, the independent consultant is often expected to have both types of knowledge with more weight on the practical side. It is true that two individuals complete graduation from the same major/reputed university with the same advance degree and one become wildly successful and the other mediocre in the same profession. Although both have similar credentials, the one which is more consistently applies that knowledge is the one who becomes wildly successful.
Consulting:
A "consultant" typically has multiple customers at a time, and it's more about a long-term relationship than it is about a specific project. There will certainly be projects in the course of a consulting relationship, sometimes big ones, but the general idea here is that you're an always-available resource they can call on for big matters or small. In a few cases, I am the finance department for several customers, and they use me so they don't have to hire a dedicated person for it.
What are Consultants?
Consultant generally specialized in the particular area, consultant means they giving advice for pay, consultant offer their advice and still in showing problem, they may be good at solving problems or doing research exploring alternative.
Consultant usually work or contract, they sell their knowledge or services for a fee, professional consultant bring new ideas, to community projects and your organization or community con often loan from working with them.
Consulting on alternative to corporate employment being honest with yourself and keeping your eyes open will increase your chances of building a successful consultant services.
Who are consultants?
Business consultants as people are generally:
1. Knowledgeable about the topic at hand
2. Well-connected within the industry
3. Have a reputation and/or brand (based on experience, publications, etc)
4. Effective communicators
How does Consultant work?
Management consultant is a very lucrative, recession proof field, in-fact some specialized consulting fields are experience a whopping increase of revenue during the current slow economy.
I would like to say that approach is the important to choose a consultant who uses on approach that fits how you want the job done. A professional consultant follows to standard approach that has been proven to work with the business industry or environment and then gets adopted by mot people within that specific context.
The types of consulting that firms offer lots of options when it comes to consulting communications- e-business- operation- marketing- technologies- human resources- strategies- finance - planning, but consulting firm; one thing is common, they run on their power of their people to makes projects success.
Careers in Consulting:
"Consulting is the business of providing advice to firms in trouble, on the move, or trying to do what they do better, faster, and more cheaply. It is one of the fastest growing industries in today's corporate world and one of the most popular career choices for new MBA's."
General classifications of consultants:
It seems like everyone these days is a consultant – strategy consultants, financial consultants, business consultants, technology consultants, IT consultants, marketing consultants, the list goes on and on. It’s a catch-all title for someone who gets paid to give their advice on particular subjects to companies
Role of consultant:
Graduates with BA or BS degrees are often employed in 2 -3 year entry level positions. After this time many employees go on to Business school, other graduate/professional school or positions with client companies. Contrary of popular belief .you do not need a specific business degree to become business consultant, need your interest, skills, and experience to help your excel,
Daily activities of an analyst might include:
• Creating financial models in Excel
• Interviewing clients for case information
• Locating data needed for cases through library and internet resources
• Sharing information with other team members on client cases
• Researching client-related industries
• Performing competitor benchmarking analysis and identifying savings opportunities
• Conducting activity-based analysis of key business processes,
• Creating PowerPoint slides for client presentations
Qualities & skills qualifications:
The following qualities and skills are often valued by recruiters in consulting. The priorities and requirements of individual employers will vary significantly given the focus of their consulting activity. It is not necessary for candidates to be highly qualified in each of these areas. Check with targeted employers to determine the specific requirements for their positions.
• Record of academic achievement
• Problem solving skills
• Logical reasoning
• Business acumen
• Team orientation
• writing skills
• Presentation skills
• Ability to cultivate relationships
• Facility with computer software
• Quantitative and statistical skills
• Energy/stamina
• Pattern of leadership
Finding clients for consulting business:
If you conduct yourself properly, you will accumulate a list of customers who will speak well about you, in many cases these will be your best source of new business, and in any case they have a name: your references. No matter how renowned you are for your technical skills, it is hard to exaggerate just how important your references are to a successful consulting practice. Think what you would ask if you were checking up on somebody you were about to hire. You’ll ask about his skills, of course, but that's not all,
Section – B > Overview the financial consulting:
The level of depth of financial consulting varies according to the company needs sector and competitive environment but in any case all the critical issues affecting directly or indirectly the company operation should be considered and taken into account, the overall aim of the “Wahid theory” is to provide a successful conclusion of financial consulting and Wahid theory is practical importance in order to company financial strategy,
Financial Consultancy:
The Finance staff, offer consultancy services across all aspects of finance and all sectors of the public sector. Staff with relevant expertise will be dedicated to work with you to investigate specific issues and develop workable recommendations and solutions, which are acceptable and feasible in the framework of your organization.
What is a Financial Consultant?
A financial consultant, sometimes referred to as a financial advisor, is someone who will give advice to personal clients and companies on a range of financial issues. They can look at current financial plans and determine the best solutions for the future. They will sometimes be trouble shooters employed by companies to research where they are going wrong financially and how to fix these problems. They will also research and advice on the best financial products to suit a companies needs or personal finance products for those.
Responsibility of financial consultant:
Money is not enough to become an effective financial consultant. a financial consultant, often called as financial advisor, is an individual who offers professional advice on money management. They serve individuals or organizations who are having issues with debt management, setting up their long term financial goals, developing a savings plan, and who are looking for sound investment advice.
A great number of financial consultants work for companies and large organizations that are dealing with financial challenges. Consultants help these entities with their budgeting and debt management issues. Sometimes, they may also be called in to develop retirement and benefits plan for employees
Aspiring financial consultants can work for mortgage lenders, banks, or tax companies to get valuable experience in handling loans and special financial services. Through this, they'll get a better understanding of various finance-related issues that they will most likely to deal with when they finally start a career in financial consulting.
•Develop, manage, and retain client relationships with the support of our finance practice management team, strategic alliances and technical resources.
•Partner with our wealth management & finance team to build clear and comprehensive financial plans for new and existing clients.
•Implement financial plans through selling and servicing financial products from a number of top-tier financial services companies.
•Work with clients to help ensure that their financial goals are met by providing customized, comprehensive financial planning advice. & Work in a challenging environment with upside potential.
Classification 0f financial consultant:
• Financial consultant
• Sales
• Financial adviser
• Financial planner
• Financial analyst
An organizations looking for experienced finance & financial services professionals & financial sales planners who are interested in expanding their opportunities and taking their businesses to the next level. As a premier full-service financial planning and finance advisory firm,
Financial consultant qualification required:
A bachelor’s degree in any discipline is acceptable, so long as the potential analyst’s course of study demonstrates an ability to understand and work with numbers. Business majors don’t necessarily have an advantage, to become a financial consultant you need to have a strong sense of purpose-it is not a job for those who are uncertain that their future lies in the financial world. Candidates must be able to meet and interact with clients, handle a heavy work load, prioritize and complete work under strict deadlines, work as part of a team, and work with computer spreadsheet and valuation programs,
• Creating a comprehensive financial approach
• Protecting your assets and managing risk with appropriate levels of insurance
• Managing taxes better for you and your business
• Helping you secure your retirement
• Building an investment approach to help you reach your goals
• Enhancing the value of your estate to take care of your loved ones
Earning possibilities:
Becoming an independent consultant usually means that you set your own hours; and these can be very long. You are basically working for you so the more hours you put in the more profit you can make. Those working for companies can have more regular hours and this factor does need to considered, especially by those with families. Salaries can be high, especially for those who excel in the field of sales. Company consultants will usually receive a base salary and then commission on top of this.
Experience Counts in Financial Careers:
A great number of private financial consultants have had many years of work experience within a number of company consulting jobs. This experience can be gained through a number of different industries including commercial banks, tax companies and the investment banking market. Experience of a wide range of financial issues and products will be necessary to start your own private consultancy.
Scope of the financial consultant:
Scope Financial Services provides a quick, easy and obligation free service that allows you to compare your current home loan against the hundreds available from our panel of lenders. It is common for people to refinance as they can get a better interest rate, lower monthly repayments and change their loan to suit their lifestyle. Best of all, it won’t cost you anything to have a Scope Financial Services consultant compare loans for you,
The Role of a Financial Consultant:
A Financial Consultant assumes many roles related to your overall investment strategy and can assist you in a variety of ways. Below are some of the many roles a Financial Consultant might incorporate into their practice,
• Trusted Advisor - Your Financial Consultant is a licensed professional who will frequently communicate with you to build a long-term relationship.
• Educator - Your Financial Consultant will help you become more knowledgeable by providing research, advice and guidance regarding planning and portfolio management.
• Planning Facilitator - Your Financial Consultant has extensive planning capabilities and will provide you with a process for building, managing and protecting your assets.
• Portfolio Manager - Your Financial Consultant's primary responsibility is to help you build, diversify and monitor your portfolio. Research analysts, equity and fixed income trading specialists and asset managers will assist in the process.
• Community Citizen - Your Financial Consultant is often involved in his or her own community as a volunteer, educator, fundraiser, coach, council member and organization board member.
An organization really needs a financial consultant?
A financial consultant or personal financial consultant is a practicing professional who helps people deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning for business owners. A financial consultant will manage your investment but generally does not offer an additional financial advice on other aspects of your financial life such as insurance, retirement or estate planning. Often stockbrokers will recommend a money manager in which chase you may be paying a fee to the stockbroker and an additional fee to the money manager, both of which are based on the amount you invest.
Do we even need a Financial Consultant?
Most financial advisors study the stock market on a daily basis. Their primary job is to make an educated guess on where the market is headed – up or down. Because of this daily research, they become an expert in stock market fluctuations. This financial advice is a risky business.
However, the biggest risk you face to your retirement nest egg is the cost of care – in your own home, an assisted living community facility. Because of this risk, you should have a very conservative approach to investing your financial future. Your financial advisor should be focused on asset protection. They should be trying to stretch your income and assets to provide you with a high-quality living environment – no matter where you might need care, no matter how long you might live.
Financial Management consultancy:
Financial management consultant has the capability to undertake assignments ranging from reviewing an organization’s financial planning structure and processes through to providing on-site provisional financial expertise on a day to day basis.
Elements of Financial consultancy:
The elements of financial management consultant in which we are able to provide specialist support for existing and new organizations include:
• Financial forecasting and planning
• Business planning - constructing plans and
• critically reviewing existing plans
• Financial due diligence
• Treasury management
• Financial controls and systems development
• Development of business cases
• Drafting and agreeing financial regulations
At a glance of financial consultant job:
Financial consultants, also known as financial advisers or financial analysts, are licensed professionals trained to help individuals or organizations make intelligent financial decisions. These professionals typically use information about market trends, stock values, taxes and other economic factors to help a client decide if an investment is appropriate or not.
1. Responsibilities
Financial consultants examine financial statements, evaluate investment opportunities, provide advice to clients about possible investment opportunities and provide advice to stockbrokers and other individuals who are attempting to sell securities (stock, bonds, etc.)
2. Education/Training
A financial consultant is typically required to have a bachelor's degree in accounting, business administration, economics, finance or statistics and the appropriate consulting licenses.
3. Career Development
A financial consultant may advance to a supervisor, a branch manager or another similar type of management position. Financial consultants may also improve their employment opportunities by obtaining additional certifications.
4. Work Locations
Financial consultants typically work in banks, homes belonging to clients, investment companies, insurance companies or their own offices.
Objective of financial consultant:
A financial consultant or other personnel designated for future responsibility for district finances so as to make a smooth transition into fiscal responsibility to the district and its consumers.
Section – C >wahid THEORY:
INTRODUTION:
Not everyone who starts and runs a business begins with a business plan, but it certainly helps to have one. If you are seeking funding from a venture capitalist, you will certainly need a comprehensive business plan that is well thought out and demonstrates sound business reasoning. If you are approaching a banker for a loan for a start-up business, your loan officer may suggest a Small Business Administration (SBA) loan, which will require a business project profile, project balance sheet, cash flow statement, budget, & plan. If you have an existing business and are approaching a bank for capital to expand the business, they often will not require a business plan, but they may look more favorably on your application if you have one.
Reasons for writing a business include:
•Support a loan application
•Raise equity funding
•Define objectives and describe programs to achieve those objectives
•Create a regular business review and course correction process
•Define a new business
•Define agreements between partners
•set a value on a business for sale or legal purposes
•Evaluate a new product line, promotion, or expansion
A business plan should prove that your business will generate enough revenue to cover your expenses, but a business plan may vary depending upon whom your audience is. If you are writing a plan for your colleagues and partners, for example, to expand an existing business, then the focus of that plan may be more operational than financial. Yes, you are going to show your partners how this expansion will mean more revenues, but they are going to want to know the silly and bolts of how this new venture is going to be implemented.
If you are writing a business plan for a bank, your bank manager will want to see that your ideas are well thought out, but the most important aspect to him or her will be your financials. Are your assumptions realistic? And will the cash flow of the business be enough to ensure that you can make the monthly payments for the loan that you have requested? If your business is making $1,000 a month and your payments are $1,200 a month, the bank is likely to turn you away
“Wahid theory” is just guide to the financial consultant, financial planner, financial adviser, business owner, reader from end to end a complete financial valuation and financial valuation tools in an organization that professionals can use in preparing business valuations. I hope this prepared to possible during used on a “Wahid theory” basis.
Regardless of your path, your career success as a financial consultant depends on your doing these things reasonably well, and you cannot do that without a respectable knowledge of finance and accounting.
Financial consulting is not a simple discipline. In fact, it is one of the most complex and difficult jobs in the company. The only way you can maintain your position as a financial consulting is through successful financial consulting. But successful financial consulting doesn’t just happen; it is a complex procedure that begins with Wakefulness
>Accountable>Heed>Intelligence >Determination more than the years, I have urbanized a formula that expresses success In financial consulting in an organization or project, This formula is:
Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He has published more than 100 articles & case study in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model- The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part)“WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis,Wahid theory– the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion- non-conformity among the performance audit and financial audit,Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook- The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT-difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’S MEASURE - the influential and evaluated of similarity between profit & non- profit business planning
& Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning,PPBS MODEL,
He has consulted with more than 25 service & product companies, in recent years Mr. khan has been spending most of his professional time for financial consulting , Mr. Wahid is the owner of “WAM” Associates and “WAK” business solutions;
I have completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related position in some of the largest group companies & the join venture companies in Bangladesh.
I have consults about small- medium business owners and services professionals, business consulting service and project process. My expertise mostly in Financial Risk Assessment, Financial analysis, Financial Advising, and Project Cost Analysis. There are more than 200 articles and case studies have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance and industrial related,
In recent years I am spending most of my professional time for financial consulting; I am also owner of the “WAM” Associates and “WAK” business solutions;
