Construct a easy Income statement, Steadiness Sheet, and money circulation statement for the enterprise you may have been contemplating in earlier weeks. This isn’t an train in enterprise planning, it is an train in serious about the assorted components that make up these three key monetary statements each entrepreneur is required to grasp.
Directions:
- Watch this 50 minute video lecture on monetary statements Financial Planning/Budgeting – Entrepreneurship 101
- Take display photographs to your notes of every of the monetary statements. So, when the presenter begins speaking in regards to the Income statement, cease the presentation, make a screenshot (PRTSCR on keyboard) and duplicate and paste it to your first tab in an Excel workbook.
- Do that similar process for all three monetary statements.
- Be sure that there’s a clean web page or tab following every screenshot so that you can construct an identical monetary statement for your corporation.
- Make notes as you undergo this video on what you assume is perhaps cheap numbers you could insert for your corporation enterprise.
- Then on every clean sheet, construct a pro-forma statement following the screenshot of the statement from the video. Fill within the numbers that make sense for you within the FIRST YEAR of your corporation and calculate all the outcomes.
- Full this course of for all three statements, save the workbook and submit it.
