Title: (Optional) Project business income and expenses.
Course: Make It Your Business (12151-12) > Section: Developing a Financial Plan

Projection should include

- anticipated sales of the product or service
- the cost of the product or service
- the cost of promotional activities
- operating expenses (e.g., taxes, insurance, labor, regulatory costs, licenses)
- other variable costs
- other fixed costs.

Process/Skill Questions:

- What business actions affect profit?
- What is the difference between fixed expenses and variable expenses?
- When developing a budget, how can you estimate variable expenses?
- Why should a business establish a financial plan?
- What financial statements are vital to the development of a financial plan?
- How does seasonality of a product or service affect income?