Best Practice Model Example 6.1

7/28/2019 Best Practice Model Example 6.1

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Best Practice ModellingExample Best Practice Model 6.1

Primary Developer: BPM

Cover Notes

- This is a simple example of a best practice historical and forecast business planning model.

-

- To navigate or view the content of this model, click on the 'Go to Table of Contents' hyperlink above.

- Subscribe to the Best Practice Modelling Network to be notified of new best practice example models.

- For more information see: Model Notes

Go to Table of Contents

IMPORTANT NOTE: BPM does not provide any warranties or guarantees relating to the correctness of

the formulas or outputs contained in this model.

The purpose of this model is to provide an example of a historical and forecast business planning model developed using

bpmToolbox in accordance with the Best Practice Spreadsheet Modelling Standards (Version 6.1).
http://www.bestpracticemodelling.com/network/subscribehttp://www.bestpracticemodelling.com/network/subscribehttp://www.bestpracticemodelling.com/network/subscribe


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Table of ContentsExample Best Practice Model 6.1

Section & Sheet Titles Page

4

56

7

1516

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19

2021

2223

24

26

2829

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34

3536

37

39

4142

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Time Series Assumptions

2.2. Historical Assumptions

b. Balance Sheet - Historical Assumptions

c.

Go to Cover Sheet

Keysa. Keys

Range Naming Key

a. Income Statement - Historical Assumptions

a.

3.1. Historical Outputs

c. Cash Flow Statement - Historical Outputs

a. Forecast Outputs

a. Income Statement - Historical Outputs

b. Balance Sheet - Historical Outputs

1. Overview

1.1. Notes

Operational - Outputs

Working Capital - Outputs

a. Model Notes

1.2.

Formats & Styles Key

Sheet Naming Key

b. Standards Illustration Sheet

3. Outputs

2.3. Forecast Assumptionsa. Forecast Assumptions

Assets - Assumptions

Operational - Assumptions

Working Capital - Assumptions

2. Assumptions

2.1. Time Series Assumptions

3.2. Forecast Outputs

Cash Flow Statements - Historical Assumptions

Capital - Assumptions

Taxation - Assumptions

Other Balance Sheet Items - Assumptions


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Table of ContentsExample Best Practice Model 6.1

Section & Sheet Titles Page

Go to Cover Sheet

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49

5052

5657

58

60

6263

64

6566

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6970

73

74

Total Pages: 74

a. Time Series Lookup Tables

Balance Sheet - Forecast Outputs

b. Income Statement - Forecast Outputs

Other Balance Sheet Items - Outputs

Capital - Outputs

Taxation - Output Summary

a. Income Statement - All Periods Outputs

c.

Assets - Outputs

4. Appendices

d. Cash Flow Statement - Forecast Outputs

3.3. All Periods Outputs

c. Cash Flow Statement - All Periods Outputs

b. Balance Sheet - All Periods Outputs

Sensitivity Checks

b. Capital - Lookup Tables

3.4. Dashboard Outputsa. Business Planning Summary

4.2. Lookup Tables

c. Dashboards - Lookup Tables

4.1. Checksa. Checks

Alert Checks

Error Checks


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OverviewSection 1.Example Best Practice Model 6.1

Section Cover Notes

Contains notes explaining the purpose and use of this model and where more help can be obtained.

Contains diagrams summarising designated components of the model.

Also contains keys explaining the Formats & Styles, Sheet Naming & Range Naming principles used in this model.


139825453.xls.ms_office

Overview_SC

Printed: 1:10 PM on 4/14/2013 Page 4 of 74


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NotesSub-Section 1.1.Example Best Practice Model 6.1

Sub-Section Cover Notes

Contains general notes about the purpose and use of this model.

Also contains contact details for BPM.



Notes_SSC



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Model NotesExample Best Practice Model 6.1

x h O

Area: Notes

To order the Best Practice Spreadsheet Modelling Standards, go to:

www.bestpracticemodelling.com/downloads/standardsDownloads:

Telephone:

Email:

Website:

[email protected]

+613 9244 9800

www.bestpracticemodelling.com

Australia 3000

Address:

Brief notes have been included throughout the Section Cover Sheets and Assumption Sheets within this

workbook. These notes have been included in accordance with Best Practice and are not designed to

provide detailed insight into how this model was developed or how it could be improved or enhanced.

BPM

Level 8, 330 Collins Street

Melbourne, Victoria

Contact BPM

Annotations

BPM specializes in the provision of Best Practice Spreadsheet Modelling products and services,

including the provision of training and support services. This training and support ranges from our

base courses (such as the bpmToolbox Fundamentals course) to courses customized to meet specific

client needs. For more information on BPM's training and support services, contact BPM on the details

provided below.

Further Training

Standards

Many components of this model have been significantly simplified to prevent confusion.

This model has been built in accordance with Version 6.1 of the Best Practice Spreadsheet Modelling

Standards.

General

Intended Audience

This model has been designed to provide an example of the implementation of the Best Practice

Spreadsheet Modelling Standards Version 6.1.

Simplification


This model has been developed for those interested in implement spreadsheet best practices.
http://www.bestpracticemodelling.com/downloads/standardsmailto:[email protected]?subject=Inquiry%20-%20Re%20Forecast%20Business%20Planning%20Model%206.0http://www.bestpracticemodelling.com/http://www.bestpracticemodelling.com/mailto:[email protected]?subject=Inquiry%20-%20Re%20Forecast%20Business%20Planning%20Model%206.0http://www.bestpracticemodelling.com/downloads/standards


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Standards Illustration SheetExample Best Practice Model 6.1

SMA 1. General Concepts

BPMS 1-1 Workbook Purpose

The purpose of a workbook should be the primary consideration of a model developer during every stage of a workbooks development.

The purpose of a workbook can be universally segregated into three levels as follows:

a) The purpose of the workbook;

b) The purpose of each sheet; and

c) The purpose of each component within each sheet.

BPMS 1-2 Sheet Classification

The sheet content and sheet purpose of every sheet in a workbook should be visually identifiable at all times.

BPMS 1-3 Sheet Content

Every sheet in a workbook should be visually identifiable as being one of the following sheet types:

a) Cover sheetb) Contents sheet

c) Section cover sheet

d) Model schematic sheet

e) Time series sheet

f) Blank sheet

g) Lookup sheet

h) Chart sheet

BPMS 1-4 Sheet Purpose

Every sheet in a workbook should have the purpose of either collecting assumptions or not collecting assumptions.Hence, every sheet in a workbook should be visually identifiable as having one of the following sheet purposes:

a) Assumption sheet; or

b) Output sheet.

BPMS 1-5 Cell Classification

The cell content and cell purpose of every cell in every worksheet should be visually identifiable at all times.

BPMS 1-6 Cell Content

Every cell in every worksheet should be visually identifiable as containing one of the following content types:

a) Constant;b) Formula; or

c) Mixed (combination of constant and formula).

Go to Blank Sheet Example

Go to Lookup Sheet Example

Go to Table of Contents x h O

Go to Workbook Purpose Example

Go to Sheet Classification Example

Go to Cover Sheet Example

Go to Cell Classification Example

Go to Cell Content Example

Go to Contents Sheet Example

Go to Section Cover Sheet Example

Go to Assumption Sheet Example

Go to Output Sheet Example

Go to Time Series Sheet Example


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Standards Illustration SheetExample Best Practice Model 6.1Go to Table of Contents x h O

BPMS 1-7 Cell Purpose

Every cell in every worksheet should have the purpose of either collecting assumptions or not collecting assumptions.

Hence, every cell in every worksheet should be visually identifiable as having one of the following cell purposes:

a) Assumption cell; or

b) Output cell.

BPMS 1-8 Assumption Classification

An assumption is defined as anything within a workbook that is intended to be manipulated by model users to affect output.

Every assumption in a workbook must be classified as one of the following types:

a) Base assumption; or

b) Sensitivity assumption.

BPMS 1-9 Assumption Cell Content

Every assumption cell in every worksheet should contain constant cell content.

SMA 2. Workbook Structure

BPMS 2-1 Workbook Cover Sheet

Every workbook that contains more than one sheet should contain a separate cover sheet as the first sheet in the workbook.

BPMS 2-2 Workbook Sections

Every workbook that contains multiple categories or similar types of information should be separated into sections.

A separate section should be created in a workbook for each sheet or group of sheets containing similar types of information.

BPMS 2-3 Section Cover Covers

A section cover sheet should be used at the start of each section in a workbook to indicate the commencement of each new section.

BPMS 2-4 Table of Contents

Every workbook with more than one sheet should contain a table of contents outlining the structure and composition of the underlying workbook.

BPMS 2-5 Table of Contents Information

A Table of Contents should:

a) Show the sections of the workbook (if any sections have been created);b) Reference the sheet title of each sheet in the model;

c) Clearly number each section and sheet; and

d) Be located near the front of the workbook (generally the second sheet in the workbook).

BPMS 2-6 Workbook Navigation



Go to Workbook Navigation Example

Go to Assumption Cell Example

Go to Assumption Cell Content Example

Go to Cover Sheet Example



Go to Output Cell Example


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SMA 3. Sheet Structure

BPMS 3-1 Sheet Titles

Every sheet in a workbook should contain a clearly highlighted sheet title that is:

a) Consistently formatted on every sheet;

b) Consistently located on every sheet type; and

c) Always in view on the screen when that sheet is active.

BPMS 3-2 Sheet Type Consistency

Sheets of the same sheet type within a workbook should be consistently structured and formatted.

This standard applies to:

a) Sheet title, styles and positioning;

b) Heading styles and spacing;

c) Column and row dimensions;

d) Data entry points;e) Hyperlink positioning;

f) Visibility of gridlines;

g) Grouping levels;

h) Zoom and viewing properties;

i) Window panes and splits; and

j) Formats and colours.

BPMS 3-3 Grouping Rows or Columns

When hiding rows or columns in a worksheet, the rows or columns should always be grouped, not hidden.

SMA 4. Formats & Styles

BPMS 4-1 Formats and Styles Key

Every workbook should contain a key or legend that explains the purpose of each format and style that has been applied to the cells in the workbook.

BPMS 4-2 Worksheet Data Alignment

All data of the same type on a worksheet should be consistently aligned down rows or across columns.

BPMS 4-3 Denomination Identification

Every number in a workbook should clearly indicate what type of denomination it is by either:

a) Stating the denomination of a number in an appropriate corresponding heading, title column, row or label; or

b) Formatting the number such that it is displayed as its denominator (e g $20 20 tonnes 20% or 20 0x)

Go to Worksheet Data Alignment Example A

Go to Denomination Identification Example

Go to Sheet Type Consistency Example B

Go to Sheet Type Consistency Example C

Go to Worksheet Data Alignment Example B

Go to Sheet Titles Example

Go to Sheet Type Consistency Example A

Go to Grouping Rows or Columns Example

Go to Formats and Styles Key Example


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BPMS 4-5 Hyperlink Consistency

All hyperlinks within a workbook should use a consistent, dedicated style or format so that they are visually identifiable as being hyperlinks.

BPMS 4-6 Work in Progress

Any cell within a workbook that is subject to further work or not finalised should be visually identifiable as being work in progress.

SMA 5. Assumption Entry Interfaces

BPMS 5-1 Assumptions Location

All assumptions contained in a workbook should be located on dedicated and visually identifiable assumption sheets.

Assumptions should never be located on output sheets.

BPMS 5-2 No Assumption Repetition

Any single assumption should never be entered more than once into a workbook.

BPMS 5-3 Control Cell Link Placement

Every cell link that is attached to a control in a workbook should be located in the top left cell of the range over which its control is placed.

BPMS 5-4 Control Lookup Data

When using a control in a workbook that requires an input range (lookup data), the lookup data should always be located on a separate lookup sheet.

BPMS 5-5 In-Cell Drop Down Lists

A cell in which data validation is used to create in cell drop down lists the range in which the drop down list is inserted should always be formatted as an assumption cell.

SMA 6. Sensitivity Analysis

BPMS 6-1 Separate Sensitivity Assumption Sheets

Every workbook that contains sensitivity analysis functionality should contain a dedicated sensitivity assumptions section (which is separate to the base assumptions section).

BPMS 6-2 Sheet Type for Sensitivity Assumption Entry Interfaces

All sensitivity assumptions in a workbook should be located on assumption sheets.

BPMS 6-3 Separate Sensitivity Assumption Entry InterfacesSensitivity assumptions should always be located on a dedicated sensitivity assumption sheet which is separate to its corresponding base assumption sheet.

Go to Hyperlink Consistency Example

Go to Work in Progress Example

Go to Control Cell Link Placement Example

Go to In-Cell Drop Down Lists Example

Go to Lookup Sheet Example

Go to Assumption Sheet Example

Go to No Assumption Repetition Example


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SMA 7. Outputs & Presentations

BPMS 7-1 Segregation of Outputs

Output sheets and presentations, which may take the form of tables, graphs, diagrams or pictures, amongst other forms, should always be located in either:

a) a separate, clearly labelled section of a workbook; orb) a separate dedicated output workbook.

BPMS 7-2 Presentation Sheets

A workbook may contain sheets which do not comply with the standards and conventions, but these sheets must be presentation sheets.

A presentation sheet is a sheet that is included in a workbook in order to present output which is exempt from the standards and conventions in order to meet aesthetic or corporate requ

BPMS 7-3 Presentation Sheet Usage

Presentation sheets should only be included in a workbook where it is not possible to use non-presentation sheets to achieve the same objective.

SMA 8. Calculation Formulae

BPMS 8-1 Consistent Formulae

When more than one adjacent cell contains a similar type of output the structure and components of the formulae within the cells should always be consistent,

so that the cell can be copied across / down the relevant range without needing to make changes.

BPMS 8-2 No Assumptions in Mixed Cell Content

Assumptions should not be embedded in cells containing mixed cell content i.e. cells containing content with a combination of constant and formula.

BPMS 8-3 Circular ReferencesA workbook or group of linked workbooks should never contain a circular reference.

SMA 9. Naming Principles

BPMS 9-1 Workbook Naming

Each workbook should be named such that the name:

a) Allows for different versions of the workbook;

b) Remains consistent between versions of the workbook; and

c) Differentiates the workbook from other workbooks.

BPMS 9-2 Sheet Naming

Every sheet name in a workbook should indicate the sheet type.

BPMS 9-3 Range Naming

Go to Segregation of Outputs Example

Go to Presentation Sheets Example

Go to Presentation Sheets Example

Go to Consistent Formulae Example

Go to Circular References Example

Go to Sheet Naming Example

Go to Range Naming Example


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BPMS 9-4 Standardised Naming Prefixes

Every range name in a workbook should have a standardised prefix to identify what type of range the name refers to or the purpose of that range.

SMA 10. Time Series Analysis

BPMS 10-1 Time Series Assumptions

Every workbook that undertakes time series analysis should clearly state, for each distinct time series:

a) the time series start date; and

b) the time series periodicity.

BPMS 10-2 Time Series Period Labels

A time series should always contain a consistent set of periodicity labels and counters that are located in the same position on every relevant worksheet in the workbook.

The periodicity labels and counters that should appear in every time series sheet are:

a) Period start date;b) Period end date; and

c) Period number (counter).

BPMS 10-3 Time Series Period End Dates

The period end date label for each period in a time series sheet should always be in view on the screen.

BPMS 10-4 Time Series Periodicity Identification

The periodicity of each time series sheet should be clearly identified and always in view on each time series sheet.

BPMS 10-5 Time Series Number of PeriodsA workbook that undertakes time series analysis should always include a cell or cell range that indicates the number of periods in each distinct time series.

BPMS 10-6 Time Series Sheet Consistency

Time series sheets for each distinct time series within a workbook should always:

a) Contain the same number of periods; and

b) Have the first period starting in the same column (or more rarely, row).

SMA 11. Checks

BPMS 11-1 Checks Classification

All checks in a workbook should be classified as being one of the following check types:

a) Error check;

b) Sensitivity check; or

c) Alert check

Go to Error Check Example

Go to Alert Check Example

Go to Checks Classification Example

Go to Time Series Assumptions Example

Go to Time Series Period Labels Example

Go to Time Series Period End Dates Example

Go to Time Series Periodicity Identification Example

Go to Time Series Number of Periods Example

Go to Time Series Sheet Consistency Example

Go to Standardised Naming Prefixes Example


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BPMS 11-3 Sensitivity Checks

Every workbook that contains one or more sensitivity assumptions should contain sensitivity checks to identify when there is an operative sensitivity assumption.

BPMS 11-4 Alert Checks

Every workbook that requires checks that are not classified as error checks or sensitivity checks should contain alert checks to identify when such a check has been triggered.

BPMS 11-5 Error Checks Summary

The outcome of every error check in a workbook should be displayed in a dedicated and separate error checks summary.

BPMS 11-6 Sensitivity Checks Summary

The outcome of every sensitivity check in a workbook should be displayed in a dedicated and separate sensitivity checks summary.

BPMS 11-7 Alert Checks Summary

The outcome of every alert check in a workbook should be displayed in a dedicated and separate alert checks summary.

BPMS 11-8 Check Indicator Flag

A message or indicator that clearly notifies the model developer or user that a check has been triggered in a workbook should always be in view on every worksheet in a workbook.

BPMS 11-9 Check Cell Formatting

Each check cell in a workbook should be formatted in such a way that it will visually indicate when an error, sensitivity or alert check has been triggered.

BPMS 11-10 Dedicated Checks Summaries

A workbook should not contain more than one of each of the following types of check summaries:

a) Error checks summary;

b) Sensitivity checks summary; and/orc) Alert checks summary.

SMA 12. Printing & Viewing

BPMS 12-1 Table of Contents Page Numbers

Every workbook with more than one sheet should contain a table of contents that displays the corresponding printed page numbers for each sheet.

As such a workbook should always print with a Table of Contents that is consistent with any page numbers printed on the individual sheet pages.

BPMS 12-2 Sheet Page NumbersEvery sheet within a workbook should contain page numbers that correspond with the printed page numbers stated in the workbook table of contents, when printing the entire workboo

BPMS 12-3 Page Margin Consistency

The page margins on every sheet in a workbook should be consistent.

Go to Sheet Page Numbers Example

Go to Alert Check Example

Go to Error Checks Summary Example

Go to Alert Checks Summary Example

Go to Check Indicator Flag Example

Go to Check Cell Formatting Example

Go to Dedicated Checks Summaries Example

Go to Table of Contents Page Numbers Example


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BPMS 12-5 Page View Consistency

The view type should be the same for each sheet in a workbook.

BPMS 12-6 Worksheet View Consistency

Prior to providing a workbook to a model user, the view of every worksheet in the workbook should be set such that the top-left corner of the worksheet is in view (i.e. cell A1 is selected).

SMA 13. Multiple Workbooks

BPMS 13-1 External Workbook Imports

All links from an external workbook into a workbook should be made via dedicated and separate model import sheets.

BPMS 13-2 External Workbook Exports

All links to an external workbook from a workbook should be made via dedicated and separate model export sheets.

BPMS 13-3 Workbook Output Links

All formulae on a model export worksheet should always be linked directly to the workbook calculations.

Content on a model export worksheet should never be moved from one workbook to another workbook in a manner (e.g. copied and pasted as values) which creates static data that will not c

when changes are made to the workbook from which the data originated.

SMA 14. Security and Protectionn/a

SMA 15. Visual Basic Programmingn/a

SMA 16. Miscellaneous

BPMS 16-1 Automatic Calculation Setting

A workbook should, where practical, be set to calculate automatically.


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KeysSub-Section 1.2.Example Best Practice Model 6.1


Contains Formats & Styles, Sheet Naming and Range Naming Keys explaining the approaches adopted throughout this model.



Keys_SSC



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KeysExample Best Practice Model 6.1

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Formats & Styles Key

Color Name Color Description / Purpose

Font Colors

Fill Colors

Hyperlink Type Hyperlink Description / Purpose

Sheet Right Hyperlink Links active worksheet to the next visible worksheet.

Custom Hyperlink Links worksheet ranges to other worksheet ranges in the model. Linked Cell Text

Sheet Top Hyperlink Scrolls worksheet to the upper-most viewable section.

Hidden White (White) Indicates Assumption Cells when used on the interior of Assumption

Sheets.

Example

Sheet Left Hyperlink Links active worksheet to the previous visible worksheet.

Cover Hyperlink Links Contents Sheet to Cover Sheet. Go To Cover Sheet

Home Hyperlink Links worksheets to Contents Sheet. Go To Table of Contents

Work in Progress (WIP) (Yellow) Indicates ranges contain data or formulae that remain uncertain or are

subject to change.

ErrorError (Red) Indicates calculation errors normally used as a conditional format.

HyperlinkHyperlink Indicates ranges contain Hyperlinks to other ranges within the workbook

or to other linked models.


Example

Input (Blue) Indicates ranges contain 100% input text / numbers. Input

Assumption Sheet (Grey) Indicates sheet is an Assumption Sheet.

Output (Black) Indicates ranges contain 100% formulas / output calculations. Output

Mixed CellMixed Cell (Green) Indicates ranges contain a mixture of input text / numbers and formulae

/ output calculations.


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x h OGo to Table of Contents

Sheet Naming Key

Base Sheet Type Sheet Description / Purpose

Notes

* The names of the Cover and Contents sheets are always "Cover" and "Contents" respectively.

** Model Import and Export Sheet suffixes are used in addition to the other sheet naming suffixes.

MEModel Export** Contains worksheet ranges that are referenced by formulas in another

workbook.

LULookup Contains lookup data for use in forms / controls and in worksheet

formulas.

Model Schematic Contains model diagrams and flow charts. MS

Chart Contains a chart. Cht

MIModel Import** Contains formulas that reference worksheet ranges in another workbook.

Blank Assumption Residual category (contains assumptions). BA

TATime Series Assumption Contains time series titles for entering assumptions over a set t ime

frame.

Blank Output Residual category (contains outputs). BO

TOTime Series Output Contains time series titles for calculating outputs over a set time frame.

Suffix

Cover* Indicates the start of a workbook. CoverContents* Contains the workbook Table of Contents. Contents

Section Cover Indicates the start of a workbook section. SC

Sub-Section Cover Indicates the start of a workbook sub-section. SSC


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Range Naming Key

Range Type / Purpose Range Description / Purpose

Option Button Option button cell link. OB_

Spin Button Spin button cell link. S_

Scroll Bar Scroll bar cell link. SB_

Residual Residual category (i.e. single cell non-base cells, etc). No Prefix

Hyperlink Hyperlink cell reference. HL_

Check Box Check box cell link. CB_ Drop Down Box Drop down box cell link. DD_

List Box List box cell link. LB_

Lookup Names a Lookup Table Array on a Lookup Sheet. LU_

Block Array Single area, multiple cell, non-row, non-column array. BA_

Multiple Area Array Multiple area (includes areas of any type). MAA_

Prefix

Base Cell Single cell base cell (for OFFSET function reference, etc). BC_

Row Array Single row, multiple column, single area array. RA_

Column Array Single column, multiple row, single area array. CA_


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AssumptionsSection 2.Example Best Practice Model 6.1

Section Cover NotesContains base case assumptions used to generate the base case outputs.



Assumptions_SC



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Time Series AssumptionsSub-Section 2.1.Example Best Practice Model 6.1

Sub-Section Cover Notes:

Contains assumptions used to drive the time series analysis within the model.



TS_Ass_SSC



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Time Series AssumptionsExample Best Practice Model 6.1

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Time Series Assumptions

Core Time Series Assumptions

Title

Periodicity

Financial Year End 31 12

Start Date

Periods

Denomination

Historical & Forecast Period Titles

Include in Period Titles?

Actual PeriodsBudget Periods

Data & Projections - Timing Assumptions

Data Term Basis

Data - Active Periods

Projections - Start Date

Notes

- A Financial Year End assumption of 28th of February is assumed to be a month end financial year end, even in a leap year.- The "Model Denomination" assumption will not necessarily automatically change the denomination of the outputs of this model.

- A "Budget Period" refers to either a period in the current financial year or periods containing combined actual and forecast data.

- "Data & Projections - Timing Assumptions" are used as the basis for related data and projections time series sheets.

- "Inactive Columns Treatment" will only be operative if macros have been included in the active workbook to manage inactive data and projectio

1-Jan-13

-

1

3

2

TRUE

3


Primary

Annual

1-Jan-10

8

139825453 xls ms office


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Historical AssumptionsSub-Section 2.2.Example Best Practice Model 6.1


Contains historical financial statement assumptions.



Hist_Ass_SSC



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Income Statement - Historical AssumptionsExample Best Practice Model 6.1

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Year Ending 31 December 2010 (A) 2011 (A) 2012 (A) - - - - -

Income Statement

Revenue 125.0 128.1 131.3 134.6 138.0 141.4 145.0 148.6

Cost of Goods Sold (25.0) (25.6) (26.3) (26.9) (27.6) (28.3) (29.0) (29.7)

Gross Margin 100.0 102.5 105.1 107.7 110.4 113.1 116.0 118.9

Operating Expenditure (40.0) (41.0) (42.0) (43.1) (44.2) (45.3) (46.4) (47.5)

EBITDA 60.0 61.5 63.0 64.6 66.2 67.9 69.6 71.3

Depreciation (13.5) (13.8) (14.2) (14.5) (14.9) (15.3) (15.7) (16.0)

Amortization (0.6) (0.6) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7)

Depreciation & Amortization (14.1) (14.5) (14.8) (15.2) (15.6) (16.0) (16.4) (16.8)

EBIT 45.9 47.0 48.2 49.4 50.6 51.9 53.2 54.5

Interest Expense (3.3) (3.3) (3.3) (3.3) (3.4) (3.6) (3.6) (3.6)

Net Profit Before Tax 42.6 43.8 44.9 46.2 47.2 48.3 49.6 51.0

Tax Expense / (Benefit) (12.8) (13.1) (13.5) (13.8) (14.2) (14.5) (14.9) (15.3)

Net Profit After Tax29.8 30.6 31.5 32.3 33.1 33.8 34.7 35.7

Notes

1. All assumptions are entered in $Millions.

2. Revenue and expense assumptions are entered as positive and negative numbers respectively.




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Balance Sheet - Historical AssumptionsExample Best Practice Model 6.1

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Balance Sheet Opening1-Jan-10

Current Assets

Opening Cash at Bank 5.0 7.5 12.1 24.6 37.4 55.5 68.9 82.7

Change in Cash at Bank 2.5 4.6 12.5 12.8 18.1 13.4 13.8 14.1

Cash at Bank 5.0 7.5 12.1 24.6 37.4 55.5 68.9 82.7 96.8

Accounts Receivable 10.3 10.3 10.5 10.8 11.1 11.3 11.6 11.9 12.2

Other Current Assets 3.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

Total Current Assets 18.3 20.8 26.7 40.4 54.5 73.9 88.5 103.5 119.0

Non-Current Assets

Assets 146.5 146.5 148.0 149.6 151.2 152.9 154.6 156.3 158.1Intangibles 13.4 13.4 15.3 17.3 19.3 21.4 23.5 25.7 27.9

Deferred Tax Assets - - - - - - - - -

Other Non-Current Assets 4.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0

Total Non-Current Assets 163.9 163.9 168.3 172.9 177.5 182.2 187.1 192.0 197.0

Total Assets 182.1 184.6 195.0 213.3 232.0 256.1 275.6 295.5 316.0

Current Liabilities

Accounts Payable 8.0 8.0 8.2 8.4 8.6 8.8 9.1 9.3 9.5Tax Payable 12.8 12.8 13.1 13.5 13.8 14.2 14.5 14.9 15.3

Interest Payable - - - - - - - - -

Ordinary Equity Dividends Payable - - - - - - - - -

Other Current Liabilities 5.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0

Total Current Liabilities 25.8 25.8 27.3 28.9 30.5 32.0 33.6 35.2 36.8


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Balance Sheet - Historical AssumptionsExample Best Practice Model 6.1

x h O



Non-Current Liabilities

Debt 50.0 50.0 50.0 50.0 50.0 55.0 55.0 55.0 55.0

Deferred Tax Liabilities - - - - - - - - -Other Non-Current Liabilities 6.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0

Total Non-Current Liabilities 56.0 56.0 57.0 58.0 59.0 65.0 66.0 67.0 68.0

Total Liabilities 81.8 81.8 84.3 86.9 89.5 97.0 99.6 102.2 104.8

Net Assets 100.3 102.8 110.7 126.4 142.6 159.1 176.0 193.4 211.2

Equity

Ordinary Equity 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0Other Equity 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0

Retained Profits - Unadjusted 20.3 22.8 30.7 46.4 62.6 79.1 96.0 113.4 131.2

Retained Profits - Balancing Item - - - - - - - - -

Retained Profits 20.3 22.8 30.7 46.4 62.6 79.1 96.0 113.4 131.2

Total Equity 100.3 102.8 110.7 126.4 142.6 159.1 176.0 193.4 211.2

Total Error Check Result - - - - - - - - - -

Total Alert Check Result - - - - - - - - - -

Notes




26/74

Cash Flow Statements - Historical AssumptionsExample Best Practice Model 6.1

x h O


Cash Flow Statement

Cash Flow from Operating Activities

Revenue 125.0 128.1 131.3 134.6 138.0 141.4 145.0 148.6

Decrease in Accounts Receivable 10.7 (0.3) (0.2) (0.3) (0.3) (0.3) (0.3) (0.3)

Cash Receipts 135.7 127.9 131.1 134.3 137.7 141.1 144.7 148.3



Increase in Accounts Payable (8.0) 0.2 0.2 0.2 0.2 0.2 0.2 0.3

Cash Payments (73.0) (66.4) (68.1) (69.8) (71.5) (73.3) (75.2) (77.0)

Interest Paid (3.3) (3.3) (3.3) (3.3) (3.4) (3.6) (3.6) (3.6)

Tax Paid (3.5) (12.8) (13.1) (13.5) (13.8) (14.2) (14.5) (14.9)

Decrease in Other Current Assets (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0)Increase in Other Current Liabilities 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Operating Activities 56.0 45.4 46.6 47.8 48.9 50.1 51.5 52.8

Cash Flow from Investing Activities

Capital Expenditure - Assets (15.0) (15.4) (15.8) (16.2) (16.6) (17.0) (17.4) (17.8)

Capital Expenditure - Intangibles (2.5) (2.6) (2.6) (2.7) (2.8) (2.8) (2.9) (3.0)

Decrease in Other Non-Current Assets (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Non-Current Liabilities 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Investing Activities (17.5) (17.9) (18.4) (18.8) (19.3) (19.8) (20.3) (20.8)




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Cash Flow Statements - Historical AssumptionsExample Best Practice Model 6.1

x h O



Cash Flow from Financing Activities

Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - (45.0) - - -

Equity Raisings - - - - - - - -Equity Repayments - - - - - - - -

Dividends Paid During Period (14.9) (15.3) (15.7) (16.2) (16.5) (16.9) (17.4) (17.8)

Increase in Other Equity 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

Net Cash Flow from Financing Activities (14.8) (15.2) (15.6) (16.1) (11.4) (16.8) (17.3) (17.7)

Net Increase / (Decrease) in Cash Held 23.7 12.2 12.6 12.9 18.2 13.5 13.9 14.2

Notes



CFS_Hist_TA



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Forecast AssumptionsSub-Section 2.3.Example Best Practice Model 6.1


Contains forecast assumptions for all areas within the underlying business.



Fcast_Ass_SSC



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Forecast AssumptionsExample Best Practice Model 6.1

x h O

Year Ending 31 December - - - 2013 (F) 2014 (F) 2015 (F) 2016 (F) 2017 (F)

Operational - Assumptions

Revenue 125.0 128.1 131.3 134.6 138.0 141.4 145.0 148.6

Cost of Goods Sold 25.0 25.6 26.3 26.9 27.6 28.3 29.0 29.7Operating Expenditure 40.0 41.0 42.0 43.1 44.2 45.3 46.4 47.5

Capital Expenditure - Assets 15.0 15.4 15.8 16.2 16.6 17.0 17.4 17.8

Capital Expenditure - Intangibles 2.5 2.6 2.6 2.7 2.8 2.8 2.9 3.0

Notes

1. Revenue and expense assumptions are entered in $Millions.

2. Revenue and expense assumptions are entered as positive numbers.

Working Capital - Assumptions

Accounts Receivable1-Jan-13

Opening Balance 10.8

Debtors Days 30 30 30 30 30 30 30 30

Accounts Payable1-Jan-13

Opening Balance 8.4

Creditors Days 45 45 45 45 45 45 45 45

Notes

1. Debtors/creditors days assumptions cannot be greater than the number of days in that period.




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x h OGo to Table of ContentsAssets - Assumptions

Assets

1-Jan-13


Depreciation - % of Capital Expenditure 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0% 90.0%

Intangibles1-Jan-13


Depreciation - % of Capital Expenditure 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0% 25.0%

Capital - Assumptions

Debt

Funds Drawn ($Millions)

1-Jan-13

Opening Balance 50.0 - - - 50.0 50.0 55.0 55.0 55.0

Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - 45.0 - - -

Closing Debt Balance - - - 50.0 55.0 55.0 55.0 55.0

Drawdowns/Repayments % into Period 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%

Interest Expense

1-Jan-13Opening Interest Payable ($Millions) -

Base Interest Rate (% p.a.) 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%

Margin (% p.a.) 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50% 1.50%

All-In Interest Rate (% p.a.) - - - 6.50% 6.50% 6.50% 6.50% 6.50%



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x h OGo to Table of ContentsOrdinary Equity

Ordinary Equity Balances ($Millions)

1-Jan-13

Opening Balance 75.0 - - - 75.0 75.0 75.0 75.0 75.0

Equity Raisings - - - - - - - -

Equity Repayments - - - - - - - -

Closing Ordinary Equity - - - 75.0 75.0 75.0 75.0 75.0

Dividends Payable & Paid

1-Jan-13

Opening Dividends Payable ($Millions) -

Determination Method: 1

Dividend Declaration Period? Yes Yes Yes Yes Yes Yes Yes Yes

Dividend Payout Ratio - % of NPAT 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0% 50.0%

Assumed Dividends - Not Applied - - - - - - - -

###

###

Notes

1. Dividends cannot be negative.

2. Dividends cannot exceed accumulated Retained Profits (Opening Retained Profits + Net Profit After Tax) in any period.

Include Opening Retained Profits in NPAT?

Limit dividends to prevent negative Cash at Bank?

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Taxation - Assumptions

Tax Payable1-Jan-13

Opening Tax Payable ($Millions) 13.5

Taxation Rate

Corporate Taxation Rate 30.0%

Notes

1. Tax is assumed to be paid in the period after tax expense is incurred.

2. The Corporate Taxation Rate is limited to a minimum of 0% and a maximum of 100%.

3. Tax calculations do not allow for tax losses, deferred tax assets or deferred tax liabilities - i.e. negative tax expense will result in cash tax receipts.


Fcast_TA


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Other Balance Sheet Items - Assumptions

Cash at Bank

Opening Cash at Bank 24.6

Retained Profits

Opening Retained Profits 46.4

Other Balance Sheet Items Opening

1-Jan-13


Other Non-Current Assets 6.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0

Other Current Liabilities 7.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0

Other Non-Current Liabilities 8.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0

Other Equity 5.0 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8

Notes

1. Balance sheet items are specified in $Millions.

2. Other Current Assets and Other Current Liabilities assumed to impact Other Operating Cash Flows.

3. Other Non-Current Assets and Non-Other Current Liabilities assumed to impact Other Investing Cash Flows.

3. Other Equity is assumed to impact Other Financing Cash Flows.



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OutputsSection 3.Example Best Practice Model 6.1

Section Cover Notes

Contains base case outputs - i.e. includes only the impacts of base case assumptions.



Outputs_SC



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Historical OutputsSub-Section 3.1.Example Best Practice Model 6.1


Contains historical financial statement outputs.



Hist_OP_SSC



36/74

Income Statement - Historical OutputsExample Best Practice Model 6.1

x h O


Income Statement

Revenue 125.0 128.1 131.3 - - - - -

Cost of Goods Sold (25.0) (25.6) (26.3) - - - - -

Gross Margin 100.0 102.5 105.1 - - - - -

Operating Expenditure (40.0) (41.0) (42.0) - - - - -

EBITDA 60.0 61.5 63.0 - - - - -

Depreciation & Amortization (14.1) (14.5) (14.8) - - - - -

EBIT 45.9 47.0 48.2 - - - - -

Interest Expense (3.3) (3.3) (3.3) - - - - -

Net Profit Before Tax 42.6 43.8 44.9 - - - - -

Tax Expense / (Benefit) (12.8) (13.1) (13.5) - - - - -

Net Profit After Tax 29.8 30.6 31.5 - - - - -

Notes

1. All revenues and expenses are specified in $Millions.2. Revenues and expenses appear as positive and negative numbers respectively.



IS_Hist_TOf


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Balance Sheet - Historical OutputsExample Best Practice Model 6.1

x h O



Current Assets

Cash at Bank 5.0 7.5 12.1 24.6 - - - - -

Accounts Receivable 10.3 10.3 10.5 10.8 - - - - -

Other Current Assets 3.0 3.0 4.0 5.0 - - - - -

Total Current Assets 18.3 20.8 26.7 40.4 - - - - -

Non-Current Assets

Assets 146.5 146.5 148.0 149.6 - - - - -

Intangibles 13.4 13.4 15.3 17.3 - - - - -


Other Non-Current Assets 4.0 4.0 5.0 6.0 - - - - -Total Non-Current Assets 163.9 163.9 168.3 172.9 - - - - -

Total Assets 182.1 184.6 195.0 213.3 - - - - -

Current Liabilities

Accounts Payable 8.0 8.0 8.2 8.4 - - - - -

Tax Payable 12.8 12.8 13.1 13.5 - - - - -


Ordinary Equity Dividends Payable - - - - - - - - -Other Current Liabilities 5.0 5.0 6.0 7.0 - - - - -

Total Current Liabilities 25.8 25.8 27.3 28.9 - - - - -



BS Hist TO


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39/74

Cash Flow Statement - Historical OutputsExample Best Practice Model 6.1

x h O


Cash Flow Statement


Cash Receipts 135.7 127.9 131.1 - - - - -

Cash Payments (73.0) (66.4) (68.1) - - - - -

Interest Paid (3.3) (3.3) (3.3) - - - - -

Tax Paid (3.5) (12.8) (13.1) - - - - -

Decrease in Other Current Assets (1.0) (1.0) (1.0) - - - - -

Increase in Other Current Liabilities 1.0 1.0 1.0 - - - - -

Net Cash Flow from Operating Activities 56.0 45.4 46.6 - - - - -


Capital Expenditure - Assets (15.0) (15.4) (15.8) - - - - -Capital Expenditure - Intangibles (2.5) (2.6) (2.6) - - - - -

Decrease in Other Non-Current Assets (1.0) (1.0) (1.0) - - - - -

Increase in Other Non-Current Liabilities 1.0 1.0 1.0 - - - - -

Net Cash Flow from Investing Activities (17.5) (17.9) (18.4) - - - - -



CFS Hist TO


40/74

Cash Flow Statement - Historical OutputsExample Best Practice Model 6.1

x h O




Debt Drawdowns - - - - - - - -

Debt Repayments - - - - - - - -


Dividends Paid During Period (14.9) (15.3) (15.7) - - - - -

Increase in Other Equity 0.1 0.1 0.1 - - - - -

Net Cash Flow from Financing Activities (14.8) (15.2) (15.6) - - - - -

Net Increase / (Decrease) in Cash Held 23.7 12.2 12.6 - - - - -

Notes

1. All cash flows are specified in $Millions.


CFS_Hist_TO



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Forecast OutputsSub-Section 3.2.Example Best Practice Model 6.1


Contains forecast outputs for all areas within the underlying business other than financial statements.



Fcast_OP_SSC



42/74

Forecast OutputsExample Best Practice Model 6.1

x h O


Operational - Outputs

Revenue - - - 134.6 138.0 141.4 145.0 148.6

Cost of Goods Sold - - - 26.9 27.6 28.3 29.0 29.7

Operating Expenditure - - - 43.1 44.2 45.3 46.4 47.5Capital Expenditure - Assets - - - 16.2 16.6 17.0 17.4 17.8

Capital Expenditure - Intangibles - - - 2.7 2.8 2.8 2.9 3.0



Fcast_OP_TO


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Working Capital - Outputs

Accounts Receivable Balances ($Millions)

Opening Balance - - - 10.8 11.1 11.3 11.6 11.9

Revenue - - - 134.6 138.0 141.4 145.0 148.6

Cash Receipts - - - (134.3) (137.7) (141.1) (144.7) (148.3)

Closing Balance - - - 11.1 11.3 11.6 11.9 12.2

Closing Balance Periodic Growth (% per Year) - - N/A 2.5% 2.5% 2.2% 2.8%

Debtors Days - - - 30 30 30 30 30

Total Error Checks Result - - - - - - - - -

Accounts Payable Balances ($Millions)

Opening Balance - - - 8.4 8.6 8.8 9.1 9.3

Costs - - - 70.0 71.7 73.5 75.4 77.3

Cash Payments - - - (69.8) (71.5) (73.3) (75.2) (77.0)Closing Balance - - - 8.6 8.8 9.1 9.3 9.5

Closing Balance Periodic Growth (% per Year) - - N/A 2.5% 2.5% 2.2% 2.8%

Creditors Days - - - 45 45 45 45 45



Fcast_OP_TO


44/74



Assets - Outputs

Assets Balances ($Millions)

Opening Balance - - - 149.6 151.2 152.9 154.6 156.3

Capital Expenditure - Assets - - - 16.2 16.6 17.0 17.4 17.8

Depreciation - - - (14.5) (14.9) (15.3) (15.7) (16.0)

Closing Balance - - - 151.2 152.9 154.6 156.3 158.1


Intangibles Balances ($Millions)

Opening Balance - - - 17.3 19.3 21.4 23.5 25.7

Capital Expenditure - Intangibles - - - 2.7 2.8 2.8 2.9 3.0

Amortization - - - (0.7) (0.7) (0.7) (0.7) (0.7)

Closing Balance - - - 19.3 21.4 23.5 25.7 27.9



Fcast OP TO


45/74



Capital - Outputs

Debt - Outputs

Funds Drawn ($Millions)

Opening Balance - - - 50.0 50.0 55.0 55.0 55.0

Debt Drawdowns - - - - 50.0 - - -Debt Repayments - - - - (45.0) - - -

Closing Debt Balance - - - 50.0 55.0 55.0 55.0 55.0

Interest Expense

Base Interest Rate (% p.a.) - - - 5.00% 5.00% 5.00% 5.00% 5.00%

Margin (% p.a.) - - - 1.50% 1.50% 1.50% 1.50% 1.50%

All-In Interest Rate (% p.a.) - - - 6.50% 6.50% 6.50% 6.50% 6.50%

Months in Financial Year - - - 12 12 12 12 12Period % of Full Year - - - 100.0% 100.0% 100.0% 100.0% 100.0%

Drawdowns/Repayments % into Period - - - 50.0% 50.0% 50.0% 50.0% 50.0%

Average Debt Outstanding - - - 50.0 52.5 55.0 55.0 55.0

Interest Expense - - - 3.3 3.4 3.6 3.6 3.6

Opening Interest Payable ($Millions) - - - - - - - -

Interest Expense - - - 3.3 3.4 3.6 3.6 3.6

Interest Paid - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Closing Interest Payable - - - - - - - -

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Ordinary Equity - Outputs

Ordinary Equity Balances ($Millions)

Opening Balance - - - 75.0 75.0 75.0 75.0 75.

Equity Raisings - - - - - - -

Equity Repayments - - - - - - -

Closing Ordinary Equity - - - 75.0 75.0 75.0 75.0 75.0

Dividends Payable & Paid

Opening Balance - - - - - - -

Dividends Declared During Period - - - 16.2 16.5 16.9 17.4 17.

Dividends Paid During Period - - - (16.2) (16.5) (16.9) (17.4) (17.

Closing Dividends Payable - - - - - - -

Total Error Checks Result - - - - - - - -

Alert Check (Limited Dividends) - - - - - - - -

Dividends Payable & Paid - Calculation

Determination Method: % of NPAT

Dividend Declaration Period? - - - Yes Yes Yes Yes Yes

Opening Retained Profits - - - 46.4 62.6 79.1 96.0 113.

Net Profit After Tax (NPAT) - - - 32.3 33.1 33.8 34.7 35.

Maximum Dividends Allowed - - - 78.7 95.6 112.9 130.7 149.0Opening Cash at Bank - - - 24.6 37.8 56.0 69.5 83.

Cash Flow Available for Dividends - - - 29.4 34.7 30.4 31.3 32.

Total Available Cash For Dividends - - - 54.0 72.5 86.4 100.7 115.5

Dividend Payout Ratio - % of NPAT - - - 50.0% 50.0% 50.0% 50.0% 50.0%

Assumed Dividends - Not Applied - - - - - - -

Target Dividends Declared - - - 16.2 16.5 16.9 17.4 17.

Actual Dividends Declared - - - 16.2 16.5 16.9 17.4 17.8


47/74



Taxation - Output Summary

Tax Expense ($Millions)

Revenue - - - 134.6 138.0 141.4 145.0 148.6

Cost of Goods Sold - - - (26.9) (27.6) (28.3) (29.0) (29.7)

Operating Expenditure - - - (43.1) (44.2) (45.3) (46.4) (47.5)

Depreciation - - - (14.5) (14.9) (15.3) (15.7) (16.0)Amortization - - - (0.7) (0.7) (0.7) (0.7) (0.7)

Interest Expense - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Net Profit Before Tax (NPBT) - - - 46.2 47.2 48.3 49.6 51.0

Accounting Taxable Profit / (Loss) - - - 46.2 47.2 48.3 49.6 51.0

Corporate Taxation Rate - - - 30.0% 30.0% 30.0% 30.0% 30.0%

Tax Expense / (Benefit) - - - 13.8 14.2 14.5 14.9 15.3

Tax Payable (& Paid)

Opening Balance - - - 13.5 13.8 14.2 14.5 14.9

Tax Expense / (Benefit) - - - 13.8 14.2 14.5 14.9 15.3

Tax Paid - - - (13.5) (13.8) (14.2) (14.5) (14.9)

Closing Balance - - - 13.8 14.2 14.5 14.9 15.3



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Other Balance Sheet Items - Outputs

Other Current Assets ($Millions)

Opening Balance - - - 5.0 6.0 7.0 8.0 9.0

Movement - - - 1.0 1.0 1.0 1.0 1.0

Closing Balance - - - 6.0 7.0 8.0 9.0 10.0

Other Non-Current Assets ($Millions)

Opening Balance - - - 6.0 7.0 8.0 9.0 10.0

Movement - - - 1.0 1.0 1.0 1.0 1.0

Closing Balance - - - 7.0 8.0 9.0 10.0 11.0

Other Current Liabilities ($Millions)

Opening Balance - - - 7.0 8.0 9.0 10.0 11.0

Movement - - - 1.0 1.0 1.0 1.0 1.0

Closing Balance - - - 8.0 9.0 10.0 11.0 12.0

Other Non-Current Liabilities ($Millions)

Opening Balance - - - 8.0 9.0 10.0 11.0 12.0

Movement - - - 1.0 1.0 1.0 1.0 1.0

Closing Balance - - - 9.0 10.0 11.0 12.0 13.0

Other Equity ($Millions)

Opening Balance - - - 5.0 5.4 5.5 5.6 5.7

Movement - - - 0.4 0.1 0.1 0.1 0.1Closing Balance - - - 5.4 5.5 5.6 5.7 5.8


Fcast_OP_TO


49/74

Income Statement - Forecast OutputsExample Best Practice Model 6.1

x h O


Income Statement

Revenue - - - 134.6 138.0 141.4 145.0 148.6

Cost of Goods Sold - - - (26.9) (27.6) (28.3) (29.0) (29.7)

Gross Margin - - - 107.7 110.4 113.1 116.0 118.9

Operating Expenditure - - - (43.1) (44.2) (45.3) (46.4) (47.5)

EBITDA - - - 64.6 66.2 67.9 69.6 71.3

Depreciation & Amortization - - - (15.2) (15.6) (16.0) (16.4) (16.8)

EBIT - - - 49.4 50.6 51.9 53.2 54.5

Interest Expense - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Net Profit Before Tax - - - 46.2 47.2 48.3 49.6 51.0

Tax Expense / (Benefit) - - - (13.8) (14.2) (14.5) (14.9) (15.3)

Net Profit After Tax - - - 32.3 33.1 33.8 34.7 35.7

Error Check - - - - - - - - -

Notes

1. All revenues and expenses are specified in $Millions.

2. Revenues and expenses enter the Income Statement as positive and negative numbers respectively.

Go to Balance Sheet - Forecast Outputs



IS F TO


50/74

Balance Sheet - Forecast OutputsExample Best Practice Model 6.1

x h O


Balance Sheet

Current Assets

Cash at Bank - - - 37.8 56.0 69.5 83.4 97.6

Accounts Receivable - - - 11.1 11.3 11.6 11.9 12.2

Other Current Assets - - - 6.0 7.0 8.0 9.0 10.0

Total Current Assets - - - 54.9 74.4 89.1 104.2 119.8

Non-Current Assets

Assets - - - 151.2 152.9 154.6 156.3 158.1

Intangibles - - - 19.3 21.4 23.5 25.7 27.9

Deferred Tax Assets - - - - - - - -

Other Non-Current Assets - - - 7.0 8.0 9.0 10.0 11.0Total Non-Current Assets - - - 177.5 182.2 187.1 192.0 197.0

Total Assets - - - 232.4 256.6 276.2 296.2 316.8

Current Liabilities

Accounts Payable - - - 8.6 8.8 9.1 9.3 9.5

Tax Payable - - - 13.8 14.2 14.5 14.9 15.3

Debt Interest Payable - - - - - - - -

Ordinary Equity Dividends Payable - - - - - - - -Other Current Liabilities - - - 8.0 9.0 10.0 11.0 12.0

Total Current Liabilities - - - 30.5 32.0 33.6 35.2 36.8




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Balance Sheet - Forecast OutputsExample Best Practice Model 6.1

x h O




Debt - - - 50.0 55.0 55.0 55.0 55.0

Deferred Tax Liabilities - - - - - - - -

Other Non-Current Liabilities - - - 9.0 10.0 11.0 12.0 13.0Total Non-Current Liabilities - - - 59.0 65.0 66.0 67.0 68.0

Total Liabilities - - - 89.5 97.0 99.6 102.2 104.8

Net Assets - - - 143.0 159.6 176.6 194.1 212.0

Equity

Ordinary Equity - - - 75.0 75.0 75.0 75.0 75.0

Other Equity - - - 5.4 5.5 5.6 5.7 5.8Retained Profits - - - 62.6 79.1 96.0 113.4 131.2

Total Equity - - - 143.0 159.6 176.6 194.1 212.0

Total Error Check Result - - - - - - - - -

Alert Check (Negative Cash) - - - - - - - - -

Notes

1. All balances are specified in $Millions.

Go to Income Statement - Forecast Outputs

Go to Cash Flow Statement - Forecast Outputs


S O


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Cash Flow Statement - Forecast OutputsExample Best Practice Model 6.1

x h O


Direct Cash Flow Statement


Cash Receipts - - - 134.3 137.7 141.1 144.7 148.3

Cash Payments - - - (69.8) (71.5) (73.3) (75.2) (77.0)

Interest Paid - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Tax Paid - - - (13.5) (13.8) (14.2) (14.5) (14.9)

Decrease in Other Current Assets - - - (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Current Liabilities - - - 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Operating Activities - - - 47.8 48.9 50.1 51.5 52.8


Capital Expenditure - Assets - - - (16.2) (16.6) (17.0) (17.4) (17.8)

Capital Expenditure - Intangibles - - - (2.7) (2.8) (2.8) (2.9) (3.0)

Decrease in Other Non-Current Assets - - - (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Non-Current Liabilities - - - 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Investing Activities - - - (18.8) (19.3) (19.8) (20.3) (20.8)


Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - (45.0) - - -


Dividends Paid During Period - - - (16.2) (16.5) (16.9) (17.4) (17.8)

Increase in Other Equity - - - 0.4 0.1 0.1 0.1 0.1

Net Cash Flow from Financing Activities - - - (15.8) (11.4) (16.8) (17.3) (17.7)

Net Increase / (Decrease) in Cash Held - - - 13.2 18.2 13.5 13.9 14.2



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x h O



Indirect Cash Flow Statement


Net Profit After Tax - - - 32.3 33.1 33.8 34.7 35.7

(Add Back) Tax Expense - - - 13.8 14.2 14.5 14.9 15.3

(Add Back) Total Debt Interest Expense - - - 3.3 3.4 3.6 3.6 3.6

(Add Back) Total Book Depreciation & Amortisation - - - 15.2 15.6 16.0 16.4 16.8

Decrease in Accounts Receivable - - - (0.3) (0.3) (0.3) (0.3) (0.3)

Increase in Accounts Payable - - - 0.2 0.2 0.2 0.2 0.3

Interest Paid - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Tax Paid - - - (13.5) (13.8) (14.2) (14.5) (14.9)

Decrease in Other Current Assets - - - (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Current Liabilities - - - 1.0 1.0 1.0 1.0 1.0



Capital Expenditure - Assets - - - (16.2) (16.6) (17.0) (17.4) (17.8)

Capital Expenditure - Intangibles - - - (2.7) (2.8) (2.8) (2.9) (3.0)

Decrease in Other Non-Current Assets - - - (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Non-Current Liabilities - - - 1.0 1.0 1.0 1.0 1.0



Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - (45.0) - - -



Dividends Paid During Period - - - (16.2) (16.5) (16.9) (17.4) (17.8)


Net Cash Flow from Financing Activities - - - (15.8) (11.4) (16.8) (17.3) (17.7)

Net Increase / (Decrease) in Cash Held - - - 13.2 18.2 13.5 13.9 14.2

Cash Flow Statement - Forecast Outputs


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x h O




CFS_Fcast_TO



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x h O



Capital Providers - Cash Flow Reconciliation



(Add Back) Interest Paid - - - 3.3 3.4 3.6 3.6 3.6

Cash Flow Available To Capital Providers - - - 32.2 33.0 33.9 34.7 35.6

Interest Paid - - - (3.3) (3.4) (3.6) (3.6) (3.6)

Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - (45.0) - - -


Cash Flow Available to Equity (CFAE) - - - 29.4 34.7 30.4 31.3 32.1



Cash Flow Available for Dividends - - - 29.4 34.7 30.4 31.3 32.1

Dividends Paid During Period - - - (16.2) (16.5) (16.9) (17.4) (17.8)Net Increase / (Decrease) in Cash Held - - - 13.2 18.2 13.5 13.9 14.2


Notes

1. All values are stated in $Millions unless stated otherwise.

Go to Income Statement - Forecast Outputs

Go to Balance Sheet - Forecast Outputs


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All Periods OutputsSub-Section 3.3.Example Best Practice Model 6.1


Contains the Income Statement, Balance Sheet and Cash Flow Statement for all periods.



All_Pers_OP_SSC


Income Statement - All Periods Outputs


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Income Statement - All Periods OutputsExample Best Practice Model 6.1

x h O

Year Ending 31 December 2010 (A) 2011 (A) 2012 (A) 2013 (F) 2014 (F) 2015 (F) 2016 (F) 2017 (F)

Income Statement

Revenue 125.0 128.1 131.3 134.6 138.0 141.4 145.0 148.6


Gross Margin 100.0 102.5 105.1 107.7 110.4 113.1 116.0 118.9


EBITDA 60.0 61.5 63.0 64.6 66.2 67.9 69.6 71.3

Depreciation & Amortization (14.1) (14.5) (14.8) (15.2) (15.6) (16.0) (16.4) (16.8)

EBIT 45.9 47.0 48.2 49.4 50.6 51.9 53.2 54.5

Interest Expense (3.3) (3.3) (3.3) (3.3) (3.4) (3.6) (3.6) (3.6)

Net Profit Before Tax 42.6 43.8 44.9 46.2 47.2 48.3 49.6 51.0

Tax Expense / (Benefit) (12.8) (13.1) (13.5) (13.8) (14.2) (14.5) (14.9) (15.3)

Net Profit After Tax 29.8 30.6 31.5 32.3 33.1 33.8 34.7 35.7

Notes

1. All revenues and expenses are specified in $Millions.2. Revenues and expenses appear as positive and negative numbers respectively.



Balance Sheet - All Periods Outputs


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Balance Sheet - All Periods OutputsExample Best Practice Model 6.1

x h O



Current Assets

Cash at Bank 5.0 7.5 12.1 24.6 37.8 56.0 69.5 83.4 97.6

Accounts Receivable 10.3 10.3 10.5 10.8 11.1 11.3 11.6 11.9 12.2


Total Current Assets 18.3 20.8 26.7 40.4 54.9 74.4 89.1 104.2 119.8

Non-Current Assets

Assets 146.5 146.5 148.0 149.6 151.2 152.9 154.6 156.3 158.1

Intangibles 13.4 13.4 15.3 17.3 19.3 21.4 23.5 25.7 27.9


Other Non-Current Assets 4.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0Total Non-Current Assets 163.9 163.9 168.3 172.9 177.5 182.2 187.1 192.0 197.0

Total Assets 182.1 184.6 195.0 213.3 232.4 256.6 276.2 296.2 316.8

Current Liabilities

Accounts Payable 8.0 8.0 8.2 8.4 8.6 8.8 9.1 9.3 9.5

Tax Payable 12.8 12.8 13.1 13.5 13.8 14.2 14.5 14.9 15.3


Ordinary Equity Dividends Payable - - - - - - - - -Other Current Liabilities 5.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0

Total Current Liabilities 25.8 25.8 27.3 28.9 30.5 32.0 33.6 35.2 36.8



Balance Sheet - All Periods Outputs


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Balance Sheet All Periods OutputsExample Best Practice Model 6.1

x h O




Debt 50.0 50.0 50.0 50.0 50.0 55.0 55.0 55.0 55.0

Deferred Tax Liabilities - - - - - - - - -

Other Non-Current Liabilities 6.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0Total Non-Current Liabilities 56.0 56.0 57.0 58.0 59.0 65.0 66.0 67.0 68.0

Total Liabilities 81.8 81.8 84.3 86.9 89.5 97.0 99.6 102.2 104.8

Net Assets 100.3 102.8 110.7 126.4 143.0 159.6 176.6 194.1 212.0

Equity

Ordinary Equity 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0 75.0

Other Equity 5.0 5.0 5.0 5.0 5.4 5.5 5.6 5.7 5.8Retained Profits 20.3 22.8 30.7 46.4 62.6 79.1 96.0 113.4 131.2

Total Equity 100.3 102.8 110.7 126.4 143.0 159.6 176.6 194.1 212.0

Total Error Check Result - - - - - - - - - -

Alert Check (Negative Cash) - - - - - - - - - -

Notes

1. All balances are specified in $Millions.


Cash Flow Statement - All Periods Outputs


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Cash Flow Statement All Periods OutputsExample Best Practice Model 6.1

x h O


Direct Cash Flow Statement


Cash Receipts 135.7 127.9 131.1 134.3 137.7 141.1 144.7 148.3

Cash Payments (73.0) (66.4) (68.1) (69.8) (71.5) (73.3) (75.2) (77.0)

Interest Paid (3.3) (3.3) (3.3) (3.3) (3.4) (3.6) (3.6) (3.6)

Tax Paid (3.5) (12.8) (13.1) (13.5) (13.8) (14.2) (14.5) (14.9)

Decrease in Other Current Assets (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Current Liabilities 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Operating Activities 56.0 45.4 46.6 47.8 48.9 50.1 51.5 52.8


Capital Expenditure - Assets (15.0) (15.4) (15.8) (16.2) (16.6) (17.0) (17.4) (17.8)Capital Expenditure - Intangibles (2.5) (2.6) (2.6) (2.7) (2.8) (2.8) (2.9) (3.0)

Decrease in Other Non-Current Assets (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0) (1.0)

Increase in Other Non-Current Liabilities 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Net Cash Flow from Investing Activities (17.5) (17.9) (18.4) (18.8) (19.3) (19.8) (20.3) (20.8)


Debt Drawdowns - - - - 50.0 - - -

Debt Repayments - - - - (45.0) - - -


Dividends Paid During Period (14.9) (15.3) (15.7) (16.2) (16.5) (16.9) (17.4) (17.8)

Increase in Other Equity 0.1 0.1 0.1 0.4 0.1 0.1 0.1 0.1

Net Cash Flow from Financing Activities (14.8) (15.2) (15.6) (15.8) (11.4) (16.8) (17.3) (17.7)

Net Increase / (Decrease) in Cash Held 23.7 12.2 12.6 13.2 18.2 13.5 13.9 14.2



Cash Flow Statement - All Periods OutputsE l B P i M d l 6 1


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Example Best Practice Model 6.1

x h O




Notes

1. All values are stated in $Millions unless stated otherwise.

139825453.xls.ms_officeCFS_All_TO



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Dashboard OutputsSub-Section 3.4.Example Best Practice Model 6.1


Contains dashboard-style presentation output sheets.



Dashboards_SSC


Business Planning SummaryExample Best Practice Model 6.1Go to Table of Contents


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Year Ending 31 December 2010 (A) 2011 (A) 2012 (A) 2013 (F) 2014 (F) 2015 (F)

Revenue 125.0 128.1 131.3 134.6 138.0 141.4

Cost of Goods Sold (25.0) (25.6) (26.3) (26.9) (27.6) (28.3)

Gross Margin 100.0 102.5 105.1 107.7 110.4 113.1

Operating Expenditure (40.0) (41.0) (42.0) (43.1) (44.2) (45.3)

EBITDA 60.0 61.5 63.0 64.6 66.2 67.9

Depreciation & Amortization (14.1) (14.5) (14.8) (15.2) (15.6) (16.0)

EBIT 45.9 47.0 48.2 49.4 50.6 51.9Interest Expense (3.3) (3.3) (3.3) (3.3) (3.4) (3.6)

Net Profit Before Tax 42.6 43.8 44.9 46.2 47.2 48.3

Tax Expense / (Benefit) (12.8) (13.1) (13.5) (13.8) (14.2) (14.5)

Net Profit After Tax 29.8 30.6 31.5 32.3 33.1 33.8


Current Assets 20.8 26.7 40.4 54.9 74.4 89.1

Non-Current Assets 163.9 168.3 172.9 177.5 182.2 187.1

Total Assets 184.6 195.0 213.3 232.4 256.6 276.2

Current Liabilities 25.8 27.3 28.9 30.5 32.0 33.6

Non-Current Liabilities 56.0 57.0 58.0 59.0 65.0 66.0

Total Liabilities 81.8 84.3 86.9 89.5 97.0 99.6

Net Assets 102.8 110.7 126.4 143.0 159.6 176.6

Ordinary Equity 75.0 75.0 75.0 75.0 75.0 75.0

Other Equity 5.0 5.0 5.0 5.4 5.5 5.6

Retained Profits 22.8 30.7 46.4 62.6 79.1 96.0

Total Equity 102.8 110.7 126.4 143.0 159.6 176.6


Cash Receipts 135.7 127.9 131.1 134.3 137.7 141.1

Cash Payments (73.0) (66.4) (68.1) (69.8) (71.5) (73.3)

Other Operating Cash Flows (6.8) (16.0) (16.4) (16.7) (17.3) (17.7)

Operating Cash Flows 56 0 45 4 46 6 47 8 48 9 50 1

Income Statement

Cash Flow Statement

x h O

Balance Sheet

-20

40

60

80

100

120

140

160

2010(A)

2011(A)

2012(A)

2013(F)

2014(F)

2015(F)

2

Revenue

Revenue (Historical)

Revenue (Forecast)

150

200

Revenue (Historica

Operating ExpenditCost of Goods Sold

EBITDA

-5

10

15

20

25

30

35

40

45

50

2010(A)

2011(A)

2012(A)

2013(F)

2014(F)

2015(F)

Operating Expenditure

Operating Expenditure (Forecast)

Operating Expenditure (Historical)


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AppendicesSection 4.Example Best Practice Model 6.1

Section Cover Notes

Contains the model appendices



Appendices_SC



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ChecksSub-Section 4.1.Example Best Practice Model 6.1


Contains model checks and lookup tables.



Checks_SSC


Checks


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ChecksExample Best Practice Model 6.1

x h O

Error Checks

##

Errors Detected - Summary

Total Errors: -

Error Message (Empty if None):

Error Checks

Error Checks Check Include? Flag

Accounts Receivable Balances ($Millions) - Yes -

Accounts Payable Balances ($Millions) - Yes -

Assets Balances ($Mill ions) - Yes -

Intangibles Balances ($Millions) - Yes -Ordinary Equity - Outputs - Yes -

Income Statement - Forecast Outputs - Yes -

Balance Sheet - Forecast Outputs - Yes -

Cash Flow Statement - Forecast Outputs - Yes -

Total Errors: -


Include summary in model name?

Checks


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Sensitivity Checks

##

Sensitivities Detected - Summary

Total Sensitivities: -

Sensitivity Message (Empty if None):

Sensitivity Checks

Sensitivity Checks Check Include? Flag

Total Sensitivities: -


Checks


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Alert Checks

##

Alerts Detected - Summary

Total Alerts: -Alert Message (Empty if None):

Alert Checks

Alert Checks Check Include? Flag

Balance Sheet - Historical Assumptions - Yes -

Balance Sheet - Historical Outputs - Yes -

Ordinary Equity - Outputs - Yes -

Balance Sheet - Forecast Outputs - Yes -

Total Alerts: -



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Lookup TablesSub-Section 4.2.Example Best Practice Model 6.1


Contains model lookup tables.



LU_SSC


Time Series Lookup TablesExample Best Practice Model 6.1Go to Table of Contents


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Time Series Lookup Tables

Month Days Names

Month Days LU_Mth_Days

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

1718

19

20

21

22

23

24

25

26

27

28

29

30

31



TS_LU


Time Series Lookup TablesExample Best Practice Model 6.1G t T bl f C t t


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Month Names Names

Month Names LU_Mth_Names

January

February

March

AprilMay

June

July

August

September

October

November

December

Denomination Names

Denomination LU_Denom

$Billions Billions

$Millions Millions

$'000 Thousands

$ Currency

Data Term Basis Names

Data Term Basis LU_Data_Term_Basis

Active Data Periods

Projections Start


TS_LU


Time Series Lookup TablesExample Best Practice Model 6.1G t T bl f C t t


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Periodicity Names

Periodicity LU_Periodicity

Annual Annual

Semi-Annual Semi_Annual

Quarterly Qtrly

Monthly Mthly

Period Type Names Names

Period Type Names LU_Period_Type_Names

Year Yr_Name

Half Year Half_Yr_Name

Quarter Qtr_Name

Month Mth_Name

Periods In Year Names

Periods In Year LU_Pers_In_Yr

1 Yrs_In_Yr

2 Halves_In_Yr

4 Qtrs_In_Yr

12 Mths_In_Yr

Conversion Factors Names

Conversion Factors

10 Ten100 Hundred

1,000 Thousand

1,000,000 Million

1,000,000,000 Billion


TS_LU


Capital - Lookup TablesExample Best Practice Model 6.1Go to Table of Contents


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Capital - Lookup Tables

Dividend Method Lookup Names:

Dividend Method LU_Eq_Ord_Div_Meth

% of NPAT

Assume Dividend Amounts


Capital_LU


Dashboards - Lookup TablesExample Best Practice Model 6.1Go to Table of Contents


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Dashboard Lookup Tables

Selected Period Lookup Names

Selected Period LU_Dashboard_Selected_Period

2010 (A)

2011 (A)

2012 (A)

2013 (F)

2014 (F)2015 (F)

2016 (F)

2017 (F)


Dashboards_LUPrinted: 1:10 PM on 4/14/2013 Page 74 of 74

Best Practice Model Example 6.1

Documents

Transcript of Best Practice Model Example 6.1