Collecting Financial Comprehension of The New Venture
Organizational and Financial Plans
Explore the organizational plan and the financial plan.
Collect financial comprehension of the new venture based on sources of capital,
informal risk capital, venture capital, and going public Compare the importance of the management team in launching a new venture.
Explain the advantages and disadvantages of the alternative legal forms for organizing a new venture.
Explain and compare the S Corporation and Limited Liability Company as alternative forms of incorporation.
Learn the importance of both the formal and the informal organization.
Illustrate how the board of directors or board of advisors can be used to support the management of a new venture.
Define what difficulties may arise when owners are reluctant to delegate or give up responsibility.
Explore the role of budgets in preparing pro forma statements.
Interpret why positive profits can still result in a negative cash flow.
Learn how to prepare monthly pro forma cash flow, income, balance sheet, and sources and uses of funds statements for the first year of operation.
Explain the application and calculation of the break-even point for the new venture.
Illustrate the alternative software packages that can be used for preparing financial statements.
Reading
Hisrich, Robert D., Peters, Michael P., Shepherd, Dean A..
(2020). Entrepreneurship (11th ed.). McGraw-Hill Higher
Education. ISBN 9781260043730. Read Chapters 9 and 10
Discussion
Identify three corporations that are different in their legal form of organization (for example an S corporation, an LLC, and a C corporation). How are these companies different?
How are they similar? What advantages and disadvantages
does each company achieve by maintaining their legal form or organization?
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