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The financial plan is a crucial element of a business plan, encompassing projected revenues, costs, anticipated return on investment, and available financial resources. It aims to attract investors and lenders while assessing the viability of the business idea. The plan outlines the company's historical financial status, if applicable, and future projections. Key components include assumptions for projections, three essential financial statements (income statement, cash flow statement, balance sheet), break-even analysis, funding requests, and exit strategies. Startups should detail startup expenses and assets, while established businesses must present financial statements from the past three years and provide a financial outlook for the next three to five years, including forecasted statements.