Upon completion of this chapter students will be able to:
- identify the seven steps in financial planning
- demonstrate how a venture can establish clear, specific, and measurable financial objectives
- demonstrate an understanding of the financial statements required by a new venture (eg. personal budget, income forecast, balance sheet)
- demonstrate the purpose and structure of a cash-flow projection
- identify possible sources of capital
- compare the advantages and disadvantages of different kinds of business financing (eg. debt and equity financing)
- prepare a financial strategy for a venture plan
Video Explanations