Session on the topic: How to prepare Financial Projections

Date: Saturday, 30th January, 2021 Time: 4.30 pm

Speaker: Mr. Amit Kumar Soni, CA, Hebe Financial Services Pvt Ltd

VenturePark, a business incubator under the aegis of Bihar Industries Association organised a session for its incubatees. The topic of the session was "How to prepare Financial Projections". The speaker of the session was Mr. Amit Kumar Soni, CA, Hebe Financial Services Pvt Ltd.

"Financial Projections" forms a significant part of Detailed Project Report which is mandatory for a start up to prepare when he wishes to join VenturePark as an incubatee. Every incubatee, especially the ones from non finance background face a lot of challenges in preparing this projection impeccably. Against this background, a session with Mr. Amit Soni, an expert in this field is organised to train the incubatees what are the different contours of the projections and what factors they should consider while making projections about their entrepreneurial ventures.

Mr. Soni explained elaborately various components of Profit and Loss Statement, Liabilities and Assets which make the balance sheet as well as Cash Flow Statement. He used a sample projection sheet to make the incubatees comprehend the subject with precision. He made a special mention of the fact that assets should be equal to liabilities and cash and bank statement should match the closing balance.

Following his deliberation, there was Question and Answer Session. Entrepreneurs raised various queries such as N.P. Ratio, how to carry forward the previous closing balance and reserve and surplus to compute the current projections.

The incubatees attended the session both physically as well as virtually. Few of them duly filled up the feedback form which was circulated to them at the beginning of the session.

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