Intro to Entrepreneurship
Video Link: https://www.cengage.com/management/book_content/9781305576247_kuratko/kuratko_ysu_b2b_cfo/index.html
It is time to decide on how financial statements should be set up for a proposed venture. Even though they may be pro forma statements at this point, there needs to be a clear understanding of who will be creating and managing the documents.
The purpose is to develop a sense of how the financial statements for a venture should be created and managed. Is it better to outsource or develop the knowledge on your own? This question must be answered.
Watch the Cengage video – B2B CFO -to discuss the pros and cons of using an outside source for financial preparation. You will have to decide if it is better to outsource or develop the knowledge on your own.
This is part of step 1.
You should read The Entrepreneurial Process feature in Chapter 11 “Watching Your Accounts Receivables” and discuss the importance of managing accounts receivables for more effective cash flow.
This is part of step 1.
Activities to do: Create a document and attach it.
Step 1: Each of you provides input on the best way to handle the financial statements for the venture. Watch the 32B CFC – to discuss the pros and cons of using an
