Business planning is fundamental to any business. A well considered, structured plan should provide an understanding of the market in which your firm operates, set goals and monitor performance. It should include as a minimum a current pro-forma balance sheet, an income or profit-and-loss statement and a cash-flow analysis. In addition, the plan should provide specific information about your firm's debt levels and debt-servicing requirements, and how the firm will repay borrowed money. A good business plan is crucial for any business loan or credit (overdraft) application or extension. More detailed business plans would include information on management systems of your firm's operations and finance management, promotion and marketing, and goal and objective attainment. Effective business plans are reviewed regularly and adjusted in response to changing conditions.