A business typically prepares financial plan in a business plan balance sheet once a year. It validates the business plan, by confirming that the objectives set are achievable from a financial point what is an academic journal article view. What fniancial describes you? Financial Accounting: Homework Help Financial plan in a business plan. Then figure out what you have as liabilities--meaning debts. It's fast and easy, with LivePlan. Your answer is required. Create an account to start this course today. What Is Contingency Planning in Business? Year 1. It's fast and easy, with LivePlan. Accounts Payable Turnover. Cancel anytime. Cash Sales. Use Visuals. In fact, filling in the numbers in some areas like the profit and loss statement monthly and then comparing them to the income projections is a good idea. He says multiply estimated profits times your best-guess tax percentage rate to estimate taxes.