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Lecture Entrepreneurial finance - Chapter 4: Measuring financial performance

Chapter 4 describe the process for obtaining and recording resources needed for an early-stage venture, describe and prepare a basic balance sheet, describe and prepare a basic income statement, explain the use of internal statements as they relate to formal financial statements, briefly describe the cost of production schedule and the inventories schedule,.and another content. | Chapter 4 Measuring Financial Performance 1 © 2012 South-Western Cengage Learning ENTREPRENEURIAL FINANCE Leach & Melicher Chapter 4: Learning Objectives Describe the process for obtaining and recording resources needed for an early-stage venture Describe and prepare a basic balance sheet Describe and prepare a basic income statement Explain the use of internal statements as they relate to formal financial statements Briefly describe the cost of production schedule and the inventories schedule Prepare a cash flow statement and explain how it helps monitor a venture’s cash position Describe operating breakeven analysis in terms of EBDAT breakeven (survival) revenues Identify major drivers on the amount of revenues needed to survive Describe operating breakeven analysis in terms of NOPAT breakeven revenues 2 Basic Accounting Concepts Generally Accepted Accounting Principles (GAAP): guidelines that set out the manner and form for presenting accounting information Accrual Accounting: the | Chapter 4 Measuring Financial Performance 1 © 2012 South-Western Cengage Learning ENTREPRENEURIAL FINANCE Leach & Melicher Chapter 4: Learning Objectives Describe the process for obtaining and recording resources needed for an early-stage venture Describe and prepare a basic balance sheet Describe and prepare a basic income statement Explain the use of internal statements as they relate to formal financial statements Briefly describe the cost of production schedule and the inventories schedule Prepare a cash flow statement and explain how it helps monitor a venture’s cash position Describe operating breakeven analysis in terms of EBDAT breakeven (survival) revenues Identify major drivers on the amount of revenues needed to survive Describe operating breakeven analysis in terms of NOPAT breakeven revenues 2 Basic Accounting Concepts Generally Accepted Accounting Principles (GAAP): guidelines that set out the manner and form for presenting accounting information Accrual Accounting: the practice of recording economic activity when recognized rather than waiting until realized 3 Basic Accounting Concepts (continued) Depreciation: reduction in value of a fixed asset over its expected life intended to reflect the usage of wearing out of the asset Accumulated Depreciation: sum of all previous depreciation amounts charged to fixed assets 4 Basic Balance Sheet Terms & Concepts Balance Sheet: financial statement that provides a snapshot of a venture’s financial position as of a specific date Balance Sheet Equation: Total Assets = Total Liabilities + Owners’ Equity Assets: financial, physical and intangible items owned or controlled by the business 5 Basic Balance Sheet Terms & Concepts (continued) Listing Order of Assets: assets are listed in declining order of liquidity, or how quickly the asset can be converted into cash Liabilities: short-term liabilities are listed first followed by long-term debts owed by the venture Owners’ Equity: equity capital contributed by the .