TecBridge - Financial Model Spreadsheet - 2019 Version (Revised 20190311)
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Welcome to the tecBRIDGE Business Plan Competition!
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This spreadsheet workbook will generate a set of financial statements for your company including a Balance Sheet, Profit & Loss Statement and Operating Expenses Statement. The purpose for each of these statements is as follows:
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The Balance Sheet presents the financial position of a company on a given date which will be assumed to be December 31 of the first and second years of operation.
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The Profit and Loss Statement presents all income and expenses and the resulting profit or loss for a one year period (two years are presented on one statement).
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The Operating Expenses Statement presents a company's operating expenses for a one year period (two years are presented on one statement) on a more detailed level which are summarized on the Profit and Loss Statement.
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To create your financial statements:
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1) Fill in all applicable highlighted fields on the "INPUT - YEAR 1" tab using only positive values. Note that on Line 122 (capital asset purchases), a total of 5 items must be listed.

Please see the bottom of this Instruction Sheet for further information on capital asset useful life estimates.
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2) Fill in all applicable highlighted fields on the "INPUT - YEAR 2" tab using only positive values. Note that on Line 122 (capital asset purchases), a total of 3 items must be listed and reflect only new Year 2 purchases.

Please see the bottom of this Instruction Sheet for further information on capital asset useful life estimates.
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3) The financial statements will auto-populate based on the input sheets and can then be printed.
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If you encounter any issues, please contact one of the competition advisors.
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The following information will assist you in determining which purchased assets should be capitalized and which should be expensed. To begin, the concept of capitalizing assets must first be understood:
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Capital Asset - depreciable and/or real property held by a company to use in carrying out business activities which can include land (and improvements), buildings (and improvements), vehicles, equipment/machinery, furniture/fixtures, start-up costs, etc.
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These assets are not expensed in the year purchased (which would appear on the Profit and Loss Statement) but are instead included on the Balance Sheet. Each asset is assigned a "useful life" and then "depreciated" over that life (expensing the asset's cost over the life of the asset). To offset the debit asset balance on the Balance Sheet, "accumulated depreciation" (the build-up of each year's depreciation expense using a straight-line methodology) is a credit balance that is netted against the asset's original cost. If the asset is held until its "useful life" is exhaused, it will be considered fully depreciated and have a "net book value" (the difference between an asset's original cost and accumulated depreciation to date) of $-0- on the Balance Sheet even if the asset remains in service.
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Normally, a company will set a "capitalization policy" stating that all assets costing $500 or less individually will be expensed in the year purchased and therefore not capitalized, supported by IRS regulation. As such, only those items costing over $500 individually and conforming with the above definition will be capitalized in the year of purchase and depreciated over a useful life.
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The IRS has determined that the following capital asset classifications and useful lives:
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Land 0yrs
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Land Improvements 15yrs
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Building 39yrs
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Building Improvements 39yrs
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Vehicles 5yrs
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Equipment 5yrs
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Machinery 5yrs
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Computers 5yrs
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Software 3yrs
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Furniture 7yrs
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Fixtures 7yrs
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Start-up Costs 15yrs
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These classifications and lives should be used on Line 122 within both input tabs.
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