Ent_7 - MNG00314 Entrepreneurship Top 7: Financial...

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MNG00314 Entrepreneurship Top 7: Financial Preparation
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Learning Objectives On completion of this topic, you should be able to: Explain the principal financial statements needed for any entrepreneurial venture estimating the amount and timing of finance required preparation of financial projections establishing systems to monitor financial progress.
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The Importance of Financial Information for Entrepreneurs Significant Information for Financial Management The importance of ratio analysis in planning Techniques and uses of projected financial statements Techniques and approaches for designing a cash-flow schedule Techniques and approaches for evaluating the capital budget
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A Financial Glossary for the Entrepreneur
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Balance Sheet Represents the financial condition of a company at a certain date. • It details the items the company owns (assets) and the amount the company owes (liabilities). • It also shows the net worth of the company and its liquidity. Assets = Liabilities + Owners’ Equity • An asset is something of value the business owns. – Current and fixed assets • Liabilities are the claims creditors have against the company. – Short- and long-term debt • Owners’ equity is the residual interest of the firm’s owners in the company.
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The Balance Sheet
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Income Statement Commonly referred to as the P&L (profit and loss) statement from activities of the firm. Provides the results of the firm’s operations. Income Statement Categories
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This document was uploaded on 03/26/2011.

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Ent_7 - MNG00314 Entrepreneurship Top 7: Financial...

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