Overview of Financial Statements

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As mentioned in the Announcements, you are to decide on an entrepreneurial venture you would like to pursue. As we progress through the course, you will develop Projected Financial Statements, Profit and Loss (Week 4) and Balance Sheet and Cash Flow Statement (Week 5), for a proposed company you would like to pursue as an Entrepreneurial venture. In Week 1 you first do an Overview of Financial Statements. Then in Week 2 you prepare a Revenue Forecast that will support the preparation of the Income Statement for your Entrepreneurial Venture. There will also be Team assignments that give you additional background in financial analysis techniques

Purpose of Assignment

The purpose of this assignment is for students to utilize critical thinking skills to understand the information contained within a company’s financial statements (Income Statement, Balance Sheet, Statement of Cash Flow). Also consider how the Financial Statements are related to each other. This company should be in a business line similar to the business your Entrepreneurial Venture would be in.

You can use the website financials.morningstar.com to help with or confirm your analysis.

For example, if you wanted to open a bakery and coffee shop you might consider analyzing a company like Panera Bread.

Resource: Search the Internet for financial statements of publicly traded companies. Consider financials.morningstar.com as a source for financial information.

Assignment Steps

Develop a 800-word minimum evaluation on the Overview of Financial Statements using the following as guides:

  1. Locate a financial statement (income, balance, statement of cash flow) for a company similar to one you wish to create.
  2. Identify the salient information contained in the financial statements (income statement, balance sheet, statement of cash flow).
  3. Identify the company’s net income (income statement), total assets (balance sheet), and total net cash flow (statement of cash flow).
  4. Explain how financial statements (income, balance, statement of cash flow) are connected to each other.
  5. Examine the importance and the relevance of financial statements for the entrepreneur.

Cite a minimum of one peer reviewed reference from the University Library.

Format the assignment consistent with APA guidelines.

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