0
   

Pro Forma Financial Statement.

 
 
Montana
 
Reply Thu 24 Jan, 2008 03:07 pm
Hi all, I need to make up pretend financial statements for 2 years and it's been a while since I've done these kinds of calculations and I could use help.

Lets say I was to take a loan of $15,000 at 8% interest, for 5 years.

I need to know how to calculate my monthly payments, seperating the interest and principal.

All help would very much be appreciated.
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Discussion • Score: 0 • Views: 1,447 • Replies: 17
No top replies

 
Montana
 
  1  
Reply Thu 24 Jan, 2008 03:09 pm
I should have put this in the Finance forum, I think.
0 Replies
 
Butrflynet
 
  1  
Reply Thu 24 Jan, 2008 03:17 pm
What you want is an amortization table. There are dozens of such free calculators on the internet. I'll look for one and post it in a sec.
0 Replies
 
Phoenix32890
 
  1  
Reply Thu 24 Jan, 2008 03:17 pm
Montana- Does this help?

http://www.bankrate.com/brm/popcalc2.asp
0 Replies
 
Butrflynet
 
  1  
Reply Thu 24 Jan, 2008 03:19 pm
Here you go:


http://www.bankrate.com/brm/popcalc2.asp
0 Replies
 
Butrflynet
 
  1  
Reply Thu 24 Jan, 2008 03:20 pm
Hey Phoenix, were you peeping over my shoulder? :wink:
0 Replies
 
Phoenix32890
 
  1  
Reply Thu 24 Jan, 2008 03:23 pm
Butrflynet wrote:
Hey Phoenix, were you peeping over my shoulder? :wink:


You know what they say about "great minds"!!! Laughing
0 Replies
 
Montana
 
  1  
Reply Thu 24 Jan, 2008 03:30 pm
Perfect! Thanks you guys. You're awesome!!!!!!!! :-D

I wish I could afford an accountant right now because everything I'm expected to fill out is something I've always depended on accountants for.

I have to make up pretend financial sheets for 2 years and I just don't get some of it.

Oh, the stress.
0 Replies
 
Butrflynet
 
  1  
Reply Thu 24 Jan, 2008 03:32 pm
I bet that ol bean counter by the name of Roger would be more than willing to help you out.

If he's not available, I can probably help a little. I'm a bit rusty but still remember the general principals of a P&L and General Ledger.
0 Replies
 
Montana
 
  1  
Reply Thu 24 Jan, 2008 03:48 pm
I'd love the help, but I don't want to burden anyone.

They want a lot of information and I'm overwhelmed.

I'm going to head down to the local Community Business Development Corporation tomorrow to see is they can't help me out with this stuff.

I'm pretty good with figures and doing books, since I've already had 2 businesses, but they're expecting me to crunch numbers that I always left for my accountant to do.

I hate red tape and wish I could have done this without having to get help from the government. It's enough work starting a business without having to jump through hoops to prove to people that you know what you're doing.

I have to put every little tiny detail in writing, including the depreciation of my car, car payments, seperating the principal from the interest, interest rates, month by month depreciation on every freakin thing and it's stupid!

Trying to make up pretend financial statements for 2 years having to deal with depreciation and all that crap is going to drive me mad!

I should have taken an accounting course years ago! <sigh>
0 Replies
 
Montana
 
  1  
Reply Thu 24 Jan, 2008 03:51 pm
I've got to type up everything I have so far, so I'll be back to check in later tonight.

<Deep breaths>
0 Replies
 
Butrflynet
 
  1  
Reply Thu 24 Jan, 2008 04:22 pm
Too late. I already sent him a PM with a link to this thread. So there!
0 Replies
 
roger
 
  1  
Reply Thu 24 Jan, 2008 07:01 pm
Thanks for the heads up, Butrflynet. Mostly, it's not something that would be helped by a general answer, and I haven't done anything of the sort since leaving school. On depreciation, always pick the simplest method, which is straight line with no salvage value. It's almost always the most valid method, anyway.

I recall that it will be important to separate fixed (overhead) expenses from operating expenses. At this moment, I can't even recall what goes into breakeven analysis, but it will probably be important.

Sorry for not being helpful on the overall project.
0 Replies
 
Montana
 
  1  
Reply Thu 24 Jan, 2008 11:06 pm
Thanks you guys. I truly appreciate your efforts! I'm going to type everything out over the weekend, leaving out figures I don't understand and the totals, so I can bring it all down to them on Monday, where they can help me understand all this mumbo jumbo.

Once I get through all this red tape, the business part will be easy. I did my research on all the Canadian business and tax laws, which is basically the same as it was when I had my other businesses, so this is the worst part. I never needed assistance to get my other businesses going, so this is a first for me.

I know I'm probably stressing over nothing as usual, but I can't help but get frustrated when I have my entire plan on paper, ready to go, except for the endless #s they expect me to crunch.

Grrrrrrrrrrrrrrrrrrr!!!!!!!!!!!!

Back to typing up my plan without some of the #s and hopefully all my hard work over the past months hasn't been for nothing.

<More deep breaths>
0 Replies
 
Montana
 
  1  
Reply Fri 25 Jan, 2008 01:22 am
Anybody got an asprin? Laughing


Ohmmmmmmmmm!!!!!!!!!!!!!!!!
0 Replies
 
Butrflynet
 
  1  
Reply Fri 25 Jan, 2008 09:33 am
That is probably their filtering out process. Anyone not willing to jump through all their hoops won't be willing to do what it takes to succeed in a new start-up business adventure.

You're way ahead of the game just by making the effort to complete it and getting the help you need to do so.

If your eyes are getting fatigued from crunching numbers, it might be a good idea to get a vision check up. That's what tipped me off to my need for glasses many years ago when I started working in the accounting department and kept getting bad headaches.

If I can help you with it, I'm here for you.


Ommmm!
0 Replies
 
Montana
 
  1  
Reply Fri 25 Jan, 2008 01:35 pm
Thanks Butrfly, you're the best :-D

It's mostly my head that gets tired from trying to figure everything out, but as soon as it starts now, I stop and get away from it for a bit and that helps a lot.

I understand that they need to filter out people to make sure someone knows what they're doing and I just get frustrated sometimes because I've been working to damn hard putting everything together.

I know that once I go down there with everything I have, they'll help me with everything else. It's just a matter of getting all the #'s in place and calculated the way they want them.
These are all calculations I only need to do once and that'll be that. When I start the business, the #'s I'll be working with will be a piece of cake and my accountant will be there to throw all my #'s together and do my taxes.

I always end up stressing over stuff like this and then when it's over, I wonder what the hell I was stressing about Laughing

I may have a few questions for you before I head that way on Tues (was gonna go Mon, but it's my birthday), if you don't mind.

Ohmmmmmmmmmm!!!!!!!!!
0 Replies
 
Montana
 
  1  
Reply Sat 26 Jan, 2008 04:58 pm
Looks like I'm going to get slammed with taxes this year because of my unemployment and if I go back on my unemployment through this program, I'll get slammed again next year. <sigh>

Having to pay the taxes along with my bills and a business loan, it's just too risky to do it now, so my plan now is to go back to work full time for a few years to pay off the tax I owe and to be able to bank enough to where I won't even need a loan.

I have 3 years to apply for this program, but I'm going to try and do it on my own without it.

I found a few night jobs that would work out great because they're 4 nights a week, 12 hour shifts and I'd have 3 day weekends, where I would actually have time to do some business on the side and built it up slowly.

I'd really like to do this on my own without anyone breathing down my neck, but that means I have to wait another few years.

Ahhhh well, what's a few more years. I can get my car paid off (huge load) and get a few other debts out of the way before I dive in.

<sigh>
0 Replies
 
 

Related Topics

Leveraged Loan - Discussion by gollum
Web Site - Discussion by gollum
Corporate Fraud - Discussion by gollum
Enron Scandal - Discussion by gollum
Buying From Own Pension Fund - Discussion by gollum
Paycheck Protection Plan - Question by gollum
Dog Sniffing Electronics - Question by gollum
SIM CARD - SimTraveler - Question by gollum
Physical Bitcoin - Question by gollum
Bitcoin - Question by gollum
 
  1. Forums
  2. » Pro Forma Financial Statement.
Copyright © 2020 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 09/19/2020 at 10:49:05