1. BUSINESS HIGH SCHOOL-ENTREPRENEURSHIP
Managing Business Finances
Put Together a Financial Plan
Obtain Financing for Your Business
Protect Your Business
Insure Your Business
Finance, Protect and Insure Your Business
Content Vocabulary:
Assets
Capital
Liabilities
Expenses
Startup costs
Inventory
Payroll
Transaction
Audit
Breakeven point
Unexpected Business Expenses
Manage Your Cash Flow
Analyze Your Financial
Performance
Hire Experts
Finances
Unit 6
The Entrepreneur and Record Keeping
Set Up a Record-Keeping System
Understand Basic Accounting
Track Your Inventory
Record Keeping and Accounting
Financial Management
Essential Learning Expectations-Unit 6:
Your financial plan will consist of 5 financial statements: start up costs, a cash flow statement, an income statement, a balance sheet, and a personal financial statement.
Banks and government agencies can help you to find your business venture.
The types of risks faced by business that are based on result, control, and insurability of the risk.
Journals are accounting records of the transactions a business makes.
Some businesses hire professionals to help keep accurate records.
Computerized record keeping increases the efficiency of record keeping.
Credit can help a business increase its sales, but unpaid credit also can cause a decrease in the profits of a business.
In order to assess how well a business is doing, financial statements must be analyzed.
Professionals can assist with financial planning, strategic planning and tax planning.