Entrepreneurship Plan and Track Your Finances

Pro forma financial statements are based on projections.

Cash receipts – Cash disbursements = Net cashflow.

To examine how sales and expenses are changing over time, you can use your 

An income statement is used to analyze your costs to determine where you may need to cut back.

If you have a personal checking account, you still need a separate account for your business.

Secured loans are a type of debt capital , and unsecured loans are equity capital

The reason a bank may turn down your loan application is 

Net cash flow is positive if cash receipts are 

To prepare a pro forma cash flow statement, estimate your startup costs and operating expenses

A balance sheet shows assets, liabilities,and capital of a business at a specific point in time

Operating expenses include salaries, rent, costof goods sold, and utilities.

The only way to get equity capital is through people you know or through venture capitalists.

Social security and Medicare contributions by employees are shown 

The liabilities section of a balance sheet includes 

The balance sheet reflects the accounting equation: assets = liabilities - owner’s equity

The financial statement that shows what a business owes and what it owns is the 

The SBA helps small businesses by 

The financial statement that shows what a business is worth at a particular point in time is :

A business keeps tax records to record payments for 

SBICs are licensed by the SBA to make loans to and invest capital with entrepreneurs