创业学课件

nullFinancial AnalysisFinancial Analysis Idea generationOpportunity recognitionBusiness modelFeasibility analysisProduct analysisIndustry analysisMarketing analysisFinancial analysisBuilding teamBusiness planFundingCase StudyEntrepreneurForecasting SalesForecasting SalesBicycle shop near a college 25,000 students, 60% living near campus, 40% commuters. How many students are potential buyers?TermsTermsIncome statement (profit & loss statement) Tells how much money it is making or losing Balance sheet The structure of its assets and liability Cash flow How much cash on hand and how the cash coming from and going to Forecast Estimate of a firm’s future income and expenses Budget Detail forecast of a company’s income, expenses, and capital needsFirm’s Financial Objectives A company’s ability to make a profitA company’s ability to use its assets productivelyA company’s ability to meet its short-term debtProfitabilityLiquidityEfficiencyFirm’s Financial Objectives A company’s overall health of the financial structureStability Financial ManagementFinancial ManagementAre we making or losing money? How much cash do we have on hand? Enough cash to meet short-term debt? Are assets efficiently used? How are the growth and net profits compare to those of the same industry? Where funds come from?Process of Financial ManagementIncome statement Balance sheet Cash flowsIncome statement Balance sheet Cash flowsIncome ExpensesHistorical Financial statementForecastsPrepare financial statementRatio analysis Check results with plansFinancial results Process of Financial ManagementnullINCOME STATEMENTIncome StatementIncome StatementIncome statement tells how much money it is making or losing. “profit & loss statement” Are sales increasing? Is the net income increasing? The past strategies effective? Key Words and TermsKey Words and TermsThree numbers for evaluating income statement Sales Cost of sales: all the direct costs associated with producing or delivering a product or service (material costs & labor) Operating expenses: marketing, administrative costs, indirect cost related to producing or service.Income Statement PracticeIncome Statement PracticeConditions: Sales 586,600; cost of sales 268,900; operating expenses 117,800; depreciation 13,500; interest income 1,900; interest expense 15,000; other income 10,900; income tax expense 53,200 How much gross profit? Operating income? Income before income taxes? Net income?nullnullnullIs it a healthy trends for this company? Why or why not? How do you know?A Company’s Income Statement of 02-04Who Should be Selected?Who Should be Selected?Three experienced CEO are interviewed for a position of food industry, how to select? STATEMENT OF CASH FLOWSTATEMENT OF CASH FLOWnullHow much cash on hand and how the cash coming from and going monthly Is the firm generating enough cash that could be used to pay down debt or returned to stockholders? Is the firm generating enough cash to fund its investment activities? Is the firm generating enough cash to pay down its short-term liabilities or its short-term liabilities increasing as the result of an insufficient amount of cash? Structure of Cash FlowStructure of Cash FlowOperating activities income, depreciation Investing activities purchase, fixed assets, real estate Financing activities borrowing money from bank or selling stockKey Words and TermsOperating activities: net income, depreciation, accounts receivable Investing activities: purchase of fixed assets Financing activities: borrowing money or selling stocks Key Words and TermsCash Flow Practice(1)Cash Flow Practice(1) 前两个月每月将实现现金销售5000元，3月增加3000元，以后每月比上月增加2000元；2、3月每月收回应收款1000元，以后每月比上月增加1000元；每月租金3000元；员工工资每月合计4000元；1月办公用品支出2000元，2，3月每月比上月增加1000元，以后和3月相同。Cash Flow Practice 单位：千元Cash Flow Practice 单位：千元Cash Flow Practice 单位：千元Cash Flow Practice 单位：千元Cash Flow Practice(2)Cash Flow Practice(2)Data for year 2004: depreciation 13,500; accounts receivable 9,300; inventory 1,200; accounts payable 16,700; income 131,000; equipment purchase 250,500; long-term debt from bank 119,500. 1. How much cash flow from operating activities? 2. How much cash flow from investing activities? 3. How much cash flow from financing activities?nullBALANCE SHEETBALANCE SHEETnullThe structure of its assets and liability Does the firm have sufficient short-term assets to cover its short-term debts? Is it financially sound overall? Key Words and TermsKey Words and TermsAssets: Current assets: cash and that which can become cash, including accounts receivable, inventories Fixed assets: long time use equipments, real estate, buildings, furniture Other assets: fame, brand, patent, trademarks Liabilities: Current liabilities: debt within a year need to be paid back, account payable，current portion of long-term debt Long-term liabilities: loans beyond one year, buying real estate, buildings, equipment Owners’ equity: equity invested in the business by its owners nullA Company’s Balance Sheet of 04Financial Figures ManagementFinancial Figures ManagementHow much is current ratio and what does it suggest? How much is overall financial stability ratio and what does it suggest? DefinitionsDefinitions Income statement Balance sheet Cash flow Forecast budgetDiscussionsWhat are the four main financial objectives of a firm? What is meant by the term “stability” as it relates to the financial management of a firm? What are the three numbers that receive the most attention when evaluating an income statement?DiscussionsApplication Questions(1)Application Questions(1)Cordell is the owner of a digital photography service in Madison. The company has been profitable every year. Its debt ratio is currently 68%, its current ratio is 1.1. Does these financial numbers cause any reason to be concerned? Why?