What is the purpose of a statement of cash flows?
Answer to relevant QuestionsWhat are the three separate categories of activities that are reflected on a firm’s statement of cash flows? Briefly explain the importance of each activity. Suppose a friend of yours showed you the pro forma income statements for his start-up and exclaimed excitedly that during the first three years of operations his firm will make a net income of $150,000 per year, which is ...Suppose a colleague of yours is gearing up to write a business plan for a business she intends to start. She told you she plans to prepare the financial statements first, to get that job out of the way before she tackles the ...What is the purpose of a forecast? What factors does a firm use to create its forecasts of future income and expenses? Identify three sources of business assistance or advice (that are not mentioned in this feature) that would be particularly useful to someone who’s starting a business without prior business experience. Briefly describe ...
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