Assets and liabilities at the end of previous year, 31.12.20Х1 Index CZK Current income tax liabilities Simple shares Accounts receivable Raw materials inventories, Cash and cash equivalents Retained earnings Short-term bank credit Finished products Buildings (original value), Accounts payable Accumulated depreciation Equipment (original value), Conditions № Index Quarters I II III IV 1 Payment of accounts receivable: % of sales in the current quarter % of sales in the previous quarter % doubtful debts 2 Finished products inventories at the end of the period, % 3 Raw materials inventories at the end of the period, % 4 Payment for raw materials: % of purchases in the current quarter % of purchases in the previous quarter 5 Price of the raw materials unit, CZK. 6 Office rent for a year, CZK. 7 Raw material requirements per unit of finished goods, kg 8 Representative expenses for a quarter, CZK. 9 Direct labour costs per unit of finished goods, hours 10 The cost per hour of direct labor costs, CZK. 11 Depreciation of equipment in the quarter, CZK. 12 Depreciation of administrative tangible assets in the quarter, CZK. 13 General production costs, % in the quarter 14 Quarterly % of sales expenses 15 % of the spoilage costs 16 The minimum cash balance at the end of the quarter, CZK. 17 Salary fund of the administrative staff for the quarter, CZK. 18 Heating, lighting of the administrative offices for the year, CZK. 19 Share of short-term financial investments,% 20 Annual % of the loan 21 Purchase of equipment in the IV quarter, CZK. 22 Income tax, % 23 Sale price, CZK. 24 Sale of finished products, units 25 Cost of finished products unit in the past year, CZK. Budgets for planning year: Table 1 Sales budget Indicator Quarters Annual sale Quarters І ІІ ІІІ ІV І ІІ 1. Sale of finished products, units 2. Sale price, CZK. 3. Revenue (row 1 * row 2), CZK. Table 2 Production budget Indicator Quarters For the year Quarters І ІІ ІІІ ІV І ІІ 1. Sale of finished products, units 2. Finished products inventories at the end of the period, units 3. Total need for the finished products, units (row 1+ row 2) 4. Finished products inventories at the beginning of the period, units ^ ^ 5. The required output of finished products, units (row 3 – row 4) Table 3 Budget of the direct costs for materials Indicator Quarters For the year Quarters І ІІ ІІІ ІV І ІІ 1. The required output of finished products, units 2. Raw material requirements per unit of finished goods, kg 3. Need for materials for the finished goods production, kg (row 1* row 2) 4. Raw materials inventories at the end of the period, kg ^ 5. Total need for materials for the finished goods production, kg (row 3 + row 4) 6. Raw materials inventories at the beginning of the period, kg ^ 7. Volume of the necessary raw materials purchase in the period, kg (row 5 – row 6) 8. Price of the raw materials unit, CZK. 9. Costs of the raw materials purchase, CZK. (row 7*row 8) Table 4 Budget of the direct labour costs Indicator Quarters For the year І ІІ ІІІ ІV 1. The required output of finished products, units 2. Direct labour costs per unit of finished goods, hours 3. Total number of hours required for the finished products output, hours (row 1*row 2) 4. The cost per hour of direct labour costs, CZK. 5. Single social contribution (37%), CZK. 6. Total direct labour costs, CZK. (row 3* row 4+ row 5) Table 5 Budget of the other direct costs and general production costs Indicator Quarters For the year І ІІ ІІІ ІV 1. Other direct costs: 1.1. Spoilage costs 1.2. Depreciation of equipment 2. General production costs 3. Total (row 1+ row 2) 4. Depreciation of equipment 5. Cash outflow for the other direct and general production costs (row 3- row 4) Table 6 Total production costs (cost of finished products) Indicator Quarters For the year І ІІ ІІІ ІV 1. Total direct costs for materials 2. Total direct labour costs 3. Other direct costs: 3.1. Spoilage costs 3.2. Depreciation of equipment 4. General production costs 5. Cost of finished products (row 1+ row 2+ row 3.1+ row 3.2+ row 4) Table 7 Budget of the administrative and sales expenses Indicator Quarters For the year І ІІ ІІІ ІV 1. Sales expenses 2. Administrative expenses 3. Total (row 1+ row 2) 4. Depreciation of administrative tangible assets 5. Cash outflow for administrative and sales expenses (row 3- row 4) Table 8 Budget of cash inflow from sale of finished products Indicator Quarters For the year І ІІ ІІІ ІV 1. Repayment of accounts receivable for the 20X1year ^ 2. Quarterly payments of finished products sales in 20Х2 year І quarter ІІ quarter ІІІ quarter ІV quarter 3. The total amount of cash inflows (row 1+ row 2) 4. Accounts receivable at 31.12.20Х2. Table 9 Doubtful debts Indicator Quarters For the year І ІІ ІІІ ІV Doubtful debts Table 10 Budget of cash outflow for the raw materials purchase Indicator Quarters For the year І ІІ ІІІ ІV 1. Repayment of accounts payable for the 20Х1 year ^ ^ 2. Quarterly payments for the raw materials in 20Х2 year: І quarter ІІ quarter ІІІ quarter ІV quarter 3. The total amount of cash outflows (row 1+row 2) 4. Accounts payable at 31.12.20Х2. Table 11 Cash plan Indicator Quarters For the year І ІІ ІІІ ІV 1. Cash at the beginning of the period ^ 2. Cash inflows: 2.1. Payment of finished products 2.2. Repayment of accounts receivable for the 20X1year 2.3. Other cash inflows 3. Total cash (row 1+ row 2) 4. Cash outflows: 4.1. Payment of raw materials 4.2. Repayment of accounts payable for the 20Х1 year 4.3. Repayment of other current liabilities 4.4. Payment of direct labor costs 4.5. Cash outflow for the other direct and general production costs 4.6. Cash outflow for administrative and sales expenses 4.7. Purchase of equipment 4.8. Other cash outflow 5. Total cash outflows (Σ row 4.1 – 4.8) 6. Excess (deficit) of cash (row 3- row 5) 7. Financing: 7.1. Getting credit 7.2. Repayment of credit 7.3. Repayment of the credit’s interest 8. Cash at the end of the period (row 6 + row 7.1 – row 7.2 – row 7.3) 9. The minimum cash balance at the end of the quarter Table 12 The income statement (The statement of comprehensive income) for __________________ 20__ . Form № 2 І. Financial results Position Code For the reporting period For the previous year 1 2 3 4 Net revenue from sales of production (goods, works, services) 2000 Cost of production (goods, works, services) sold 2050 ( ) ( ) Gross: profit 2090 loss 2095 ( ) ( ) Other operating income 2120 Administrative expenses 2130 ( ) ( ) Sales expenses 2150 ( ) ( ) Other operating expenses 2180 ( ) ( ) The financial result from the operational activity: profit 2190 loss 2195 ( ) ( ) Income from investments in other enterprises equity 2200 Other financial income 2220 Other income 2240 Financial costs 2250 ( ) ( ) Loss from investments in other enterprises equity 2255 ( ) ( ) Other costs 2270 ( ) ( ) The financial result before taxation: profit 2290 loss 2295 ( ) ( ) Expenses (income) from income tax 2300 Income (loss) from discontinued operations after taxation 2305 Net financial result: profit 2350 loss 2355 ( ) ( ) II. The comprehensive income Position Code For the reporting period For the previous year 1 2 3 4 Revaluation (markdown) of fixed assets 2400 Revaluation (markdown) of financial instruments 2405 Accumulated translation differences 2410 Share of other comprehensive income from associates and joint ventures 2415 Other comprehensive income 2445 Other comprehensive income before taxation 2450 Income tax related to other comprehensive income 2455 Other comprehensive income after taxation 2460 Comprehensive income (sum of positions 2350, 2355, 2460) 2465 Table 13 Planned balance sheet Assets At the end of the period Liabilities and equity At the end of the period І. Tangible assets: І. Equity: Buildings Data Simple shares Data Equipment Data + Purchase of equipment Retained earnings Data + Net profit for the period Depreciation Data + Depreciation accumulated for the period Total tangible assets І Total equity I ІІ. Current assets: ІІ. Current liabilities: Finished products Finished products inventories at the end of the period * Cost of finished products unit Accounts payable Accounts payable at 31.12.20Х2. Raw materials Raw materials inventories at the end of the period * Price of the raw materials unit Accounts payable by the budget Tax profit for the period Accounts receivable Accounts receivable at 31.12.20Х2. Short-term bank credit Data + Getting credit – Repayment of credits Short-term financial investments Purchase – sale Cash and cash equivalents Cash plan Total current assets ІІ Total current liabilities ІІ Balance sheet Σ Balance sheet Σ Table 14 balance sheet (Financial statement report) at ____________ 20__. Form № 1 1801001 Assets Code At the beginning of the reporting period At the end of the reporting period 1 2 3 4 I. Fixed assets (Non-current assets) Intangible assets: technical expertise, trademarks, patents, reputation (goodwill), a skilled management, well-trained labor force 1000 original value 1001 accumulated depreciation 1002 Incomplete capital investment (unactuated equipment, equipment that is not put into operation, unfinished building) 1005 Tangible assets; Property, equipment, buildings, vehicles 1010 original value 1011 accumulated depreciation 1012 Investment property 1015 Long-term biological assets 1020 Long-term financial investments: calculated by the equity method in other enterprises (Investments in associates and joint ventures) 1030 Other financial investments 1035 Long-term accounts receivable; Long-term trade and other receivables 1040 Deferred tax assets 1045 Other fixed assets 1090 Total fixed assets І 1095 II. Non-fixed assets (Current assets) Inventories (production inventories (raw materials and components); incomplete production (work in process); finished product; goods, commodities) 1100 Current biological assets 1110 Accounts receivable; Trade receivables 1125 Prepayments and accrued income 1130 Accounts receivable from the budget 1135 Accounts receivable from the income tax (Current income tax assets) 1136 Other current receivables 1155 Short-term financial investments 1160 Cash and marketable securities; Cash and cash equivalents 1165 Prepayments and deferred costs 1170 Other current assets 1190 Total current assets ІІ 1195 III. Fixed assets held for sale 1200 Balance sheet 1300 Liabilities and equity Code At the beginning of the reporting period At the end of the reporting period 1 2 3 4 I. Equity The registered capital; share capital; Common stock capital 1400 Capital from fixed assets revaluation 1405 Additional paid-in capital 1410 Reserve capital 1415 Retained earnings (accumulated deficit; uncovered loss) 1420 Unpaid capital 1425 ( ) ( ) Treasury stock; Treasury shares 1430 ( ) ( ) Total equity I 1495 II. Long-term liabilities and provisions Deferred tax liabilities 1500 Long-term bank credits 1510 Other long-term liabilities 1515 Long-term provisions (provisions for future losses and payments) 1520 Targeted funding 1525 Total long-term liabilities and provisions II 1595 IІІ. Current liabilities and provisions Short-term bank credit 1600 Current payables by long-term debt 1610 Accounts payable; Trade payables 1615 Accounts payable by the budget 1620 Accounts payable by the income tax (Current income tax liabilities) 1621 Accounts payable by insurance 1625 Accounts payable by wages 1630 Current provisions (provisions for future losses and payments) 1660 Accruals and deferred income 1665 Other сurrent liabilities 1690 Total сurrent liabilities and provisions IІІ 1695 ІV. Liabilities directly associated with assets held for sale 1700 Balance sheet 1900 Table 15 The statement of cash flows (by the direct method) for 20___ . Form № 3 Position Code For the reporting period For the previous year 1 2 3 4 І. Operating cash flow Cash inflow from: sales of production (goods, works, services) 3000 Return of taxes and charges 3005 including value added tax 3006 Targeted funding 3010 Other cash inflow 3095 Cash outflow for payment: Goods (works, services) 3100 ( ) ( ) Labor 3105 ( ) ( ) Deductions for social events 3110 ( ) ( ) Taxes and charges liabilities 3115 ( ) ( ) Other cash outflow 3190 ( ) ( ) Net operating cash flow 3195 II. Cash flow from investing activities Cash inflow from sales of: financial investments 3200 fixed assets 3205 Cash inflow from received: percent 3215 dividends 3220 Cash inflow from derivatives 3225 Other cash inflow 3250 Cash outflow for purchase of: financial investments 3255 ( ) ( ) fixed assets 3260 ( ) ( ) Cash outflow by derivatives 3270 ( ) ( ) Other cash outflow 3290 ( ) ( ) Net Cash flow from investing activities 3295 III. Cash flow from financing activities Cash inflow from: Equity 3300 Getting loans 3305 Other cash inflow 3340 Cash outflow for: Purchase of treasury shares 3345 ( ) ( ) Repayment of loans 3350 Payment of dividends 3355 ( ) ( ) Other cash outflow 3390 ( ) ( ) Net cash flow from financing activities 3395 Net cash flow for the reporting period 3400 Cash and cash equivalents at beginning of year 3405 Influence of currency retranslations 3410 Cash and cash equivalents at end of year 3415 Table 16 The statement of cash flows (by the non direct method) for 20___ . Form № 3-n Стаття Code For the reporting period For the previous year Inflow Outflow Inflow Outflow 1 2 3 4 5 6 І. Operating cash flow The financial result before taxation (profit(loss)) 3500 Adjustments for: fixed assets depreciation 3505 Х Х increase (decrease) of provisions 3510 loss (profit) from unsold translation reserve 3515 loss (profit) from non-operating activity and other noncash operations 3520 Decrease (increase) of current assets 3550 Increase (decrease) of сurrent liabilities 3560 Operating cash flow 3570 Income tax paid 3580 Х Х Net operating cash flow 3195 II. Cash flow from investing activities Cash inflow from sales of: financial investments 3200 Х Х fixed assets 3205 Х Х Cash inflow from received: percent 3215 Х Х dividends 3220 Х Х Cash inflow from derivatives 3225 Х Х Other cash inflow 3250 Х Х Cash outflow for purchase of: financial investments 3255 Х Х fixed assets 3260 Х Х Cash outflow by derivatives 3270 Х Х Other cash outflow 3290 Х Х Net сash flow from investing activities 3295 III. Cash flow from financing activities Cash inflow from: Equity 3300 Х Х Getting loans 3305 Х Х Other cash inflow 3340 Х Х Cash outflow for: Purchase of treasury shares 3345 Х Х Repayment of loans 3350 Х Х Payment of dividends 3355 Х Х Other cash outflow 3390 Х Х Net cash flow from financing activities 3395 Net cash flow for the reporting period 3400 Cash and cash equivalents at beginning of year 3405 Х Х Influence of currency retranslations 3410 Cash and cash equivalents at end of year 3415 Table 17 Financial position indexes Formula Norm Previous year Planning year Dynamics 1. property state: 1.1. coefficient of Tangible assets Depreciation, % Net Fixed Assets (Tangible assets)= Gross Fixed Assets (Tangible assets)– Accumulated Depreciation (Accumulated Depreciation / original value)*100% Or (Accumulated Depreciation / Gross Tangible assets)*100% Decreasing 1.2. coefficient of Tangible assets retirement Value of retired Tangible assets / original value at the beginning of the year 1.3. coefficient of Tangible assets renewal Value of arrived Tangible assets / original value at the end of the year More than index 1.2 2. liquidity: 2.1. Current Ratio Current assets/ Current liabilities More than 1 2.2. Quick ratio (Current assets – inventories)/ Current liabilities; Or (Cash and marketable securities (cash equivalents)+ Short-term financial investments + Accounts receivable)/ Current liabilities 0,6-0,8 2.3. cash (absolute) ratio (Cash and marketable securities (cash equivalents)+ Short-term financial investments)/ Current liabilities More than 0,2 2.4. Net working capital Current assets – Current liabilities; Or Equity + Long-term liabilities and provisions – Fixed assets More than 0, increasing 2.5. financing policy: (Current assets - Current liabilities)/ Current assets Increasing (conservative, moderate, aggressive) 3. financial stability : 3.1. Equity ratio (financial autonomy) Equity / (Equity + liabilities) More than 0,5 3.3. coefficient of Equity mobility Net working capital / Equity More than 0, increasing 4. business activity: 4.1. assets outstanding Net revenue / [(assets at the beginning of the year + assets at the end of the year)/2] increasing 4.2. Days Inventory Outstanding (or production cycle), days 360 / [Cost of production sold / [(Inventory at the beginning of the year + Inventory at the end of the year)/2] ] Decreasing 4.3. Days Sales Outstanding, days 360 / [net revenue / [(accounts receivable at the beginning of the year + accounts receivable at the end of the year)/2] ] Decreasing 4.4. operational cycle, days Days Inventory Outstanding (or production cycle) + Days Sales Outstanding Decreasing 4.5. Days Payables Outstanding , days 360 / [Cost of production sold / [(accounts payable at the beginning of the year + accounts payable at the end of the year)/2] ] Decreasing 4.6. Cash Conversion Cycle (or financial cycle), days Days Inventory Outstanding (or production cycle) + Days Sales Outstanding – Days Payables Outstanding Or operational cycle - Days Payables Outstanding Decreasing/ increasing ( it depends) 5. profitability: 5.1. return on assets ROA (Net profit/ assets)*100% More than 0, increasing 5.2. return on activity (net profit/ net revenue)*100% More than 0, increasing 5.3. return on production cost (net profit / cost of production)*100% More than 0, increasing 5.4. return on equity ROE (net profit / equity)*100% More than 0, increasing 6. Cash flows : 6.1. Net operating cash flow + 6.2. Net Cash flow from investing activities - 6.3. Net cash flow from financing activities - Table 18 Planned income statement Indicator Amount, CZK. 1. Revenue for the year 2. Variable costs: 2.1. Variable cost of sales Variable cost of production per unit * quantity of finished products sale for the year 2.2. Variable sales expenses 2.3. Doubtful debts 3. Total variable costs 4. Marginal income (row 1- row 3) 5. Fixed costs: 5.1. Other direct costs 5.2. General production costs 5.3. Administrative expenses 6. Total fixed costs 7. Net production profit (row 4 - row 6)