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Objective 4.01 Handouts

Objective 4.01 Handouts

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Published by: heatherhaymer on Jul 05, 2011
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6200/6600 Principles of Business and Finance Summer 2010 Page237Name: ______________________ Class: _______ Date: _______ 
Business Financial Planning Organizer 
Financialplanningincludes an organization evaluating it current financial position,setting financial goals, and implementingactivities and obtaining resources to reachestablished financial goals.
Part A
Directions: In the provided table, provide information about when businessesconductfinancial planning.
PhasesFinancial Planning
Start-upOperationExpansion
Basic financial equation
 _____________________ -____________________ = _______________________
 
6200/6600 Principles of Business and Finance Summer 2010 Page238
Business Financial Planning Organizer: Part A ContinuedTypes of Business BudgetsTypeWhen it is usedStart-upOperatingCash
List the four steps of completing a budget: ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________ 
 
6200/6600 Principles of Business and Finance Summer 2010 Page239
Business Financial Planning Organizer: Part B
What is the purpose of financial records? ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________ List the financial records used by businesses: ______________________________________________________________________  _____________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________ What are assets? _______________________________________________________ What are liabilities? ______________________________________________________ What is owner’sequity? __________________________________________________ What are financial statements? ______________________________________________________________________  ______________________________________________________________________ What is the difference between a balance sheet and an income statement? ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________  ______________________________________________________________________ 

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