Finance Wizard Overview
YThe financial plan of a business plan is usually the most challenging part for an entrepreneur. It requires moderately advanced accounting and financial skills and its importance is often underestimated. It is the key component that will determine whether the business plan is going to attract any investment or funding from banks or potential partners. The Finance Wizard will lead you through the preparation of the financial plan which consists of: Income statement, cash flow statements, balance sheets, and an analysis of these statements including a breakeven analysis. To start off the entrepreneur will need to have gathered data related to:
The Finance Wizard (FW) is an educational financial tool aimed at helping both learners and educators. The FW is a self service web tool that allows users to understand the basic financial lifecycle by generating financial statements for user-created fictional companies.
The FW is an easy-to-use tool with an intuitive interface. One of the objectives of the FW is to shift the focus of the entrepreneur from creating financial statements, to the more critical task of analyzing the required data.
Having this in mind, and throughout the wizard, the user can find instant help in the form of tooltips . Just hover the mouse over this image and you will get more information!
Start New Business »The Porcess
The user creates fictional companies and enters basic data about their companies. The required data will then be used by the FW to generate the financial statements. To create a new company the user would have to go thru a 3-step process:
Target Audience
1. Learners applying their knowledge2. Educators teaching financial accounting3. Young Entrepreneurs planning a new businessFeatures