Exercises identify the kinds of data needed to project the revenue, start-up, and operating costs of a business, and the module introduces breakeven analysis as a tool to assist the entrepreneur in measuring financial feasibility. In this session participants learn how to construct realistic cash flow statements by developing good financial assumptions. In addition, participants learn about the role of basic financial ratios in financial analysis and business decision-making. In this session, participants focus on the marketing plan and the importance of market analysis in projecting sales. Market research information for a sample business demonstrates the connection between a marketing plan and a cash flow statement.
Participants identify market segments and use market segmentation to project sales.
An important step in staying out of trouble as a business owner is understanding tax reporting responsibilities. In the government's eye ignorance of the law is no excuse for failing to comply. In this module participants become familiar with tax procedures and forms that owners must file to comply with state and federal regulations for reporting business activity. Tax compliance is an essential part of business management. In this module participants become familiar with the procedures and forms required to report sales and payroll tax liabilities.