MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024
MNE3701 Assignment 4 (COMPLETE ANSWERS) Semester 2 2024 - DUE 11 October 2024
MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024; 100% TRUSTED Complete, trusted solutions and explanations.
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Entrepreneurship and Small Business Management
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, MNE3701 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 12 September 2024 ; 100%
TRUSTED Complete, trusted solutions and explanations.
Having acquired sufficient knowledge and skills on financial
management for small business, you must demonstrate practical
competencies in constructing financial statements and in
conducting feasible financial forecasting. As a new entrepreneur
understanding financial management and accounting, forms an
integral part of running your small business. You should also be
able to forecast the financial outcomes that could result from
your decision. The projections of business’s profits, its assets
and financial requirements, and its cash flows are essential in
determining whether your business is economically viable or
not. In light of the above citation you are expected to respond to
the following assessment criteria: QUESTION 1 • Demonstrate
how you would go about constructing financial statements of
your small business with reference to practical examples. (30)
To construct financial statements for a small business, it’s
essential to understand the three key financial statements
typically used: the Income Statement, the Balance Sheet, and
the Cash Flow Statement. These statements help track the
business's financial performance and position, providing
valuable insights into its profitability, assets, liabilities, and cash
flows.
1. Income Statement (also known as Profit and Loss
Statement)
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