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On successful completion of this assessment, students should be able to:

  • develop a budget for a business idea presented in unit 4, projecting costs associated with the venture,
  • analyze the funding need and provide breakdown of appropriate cost centers, and
  • identify the profit or loss for the venture in year one and show when the business will be profitable.

 Brief Description

The assignment requires the completion of a budget to project costs associated with the new venture and will be used as a guide in terms of how much funding is needed to launch the business. The budget statement should reference the business opportunity submitted in unit 4. The budget statement will be augmented with notes to explain the choices and projections.

 The paper should include notes to accompany and explain the budget decisions and budget lines. The paper should follow the APA guidelines for format and citation. In your assignment you should:

  1. Identify the problem the venture will address and its scope.
  2. Support claims about the problem with appropriate sources, including at least three academic sources such as books, juried articles found in the YU library.
  3. Demonstrate the validity of the idea and identify what makes this a true opportunity.

(NOTE:  

assignment requires you to include three pro forma financial statements so, here are some templates and links that may help you.  Please edit the template to reflect your business and only include relevant information.  Just because it appears on the template does not mean that you should include it for your company. Remember to include explanations, notes, or rationale for some of the important numbers on the financial statements.  I want to know that you can justify the numbers for your business.

Here are some links to use:

https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/templates-business-guides/financial-plan-template

https://www.smartsheet.com/content/business-plan-financial-templates

https://bench.co/blog/accounting/pro-forma-financial-statements)

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