$119666.$Practical Activity: Determine financial requirements of a

EEK$1-9$

new venture

CCFO$1-8$

Individually complete the following:

You need to show that you can determine financial requirements of a new venture Complete the following in your workplace for your own specific new venture:

Determine the financial and cash flow requirements of a new venture. Complete the following tasks and provide workplace evidence to show that you have done the following:

a$.$ Determine the start$-$up requirements and costs for your own new venture, according to your financial capacity and resources. Submit a summary of your financial and cash flow requirements $($to start your business$).$ Include the following:

Financial and cash flow requirements for a new venture with examples

Profit and loss in relation to the financial requirements of a new venture

Profit and loss in relation to the market needs of a new venture

Start$-$up requirements and costs according to financial capacity and resources

Start$-$up capital and working capital in relation to own business

The relationship between 'cash flow' and 'profit' with examples

Assets and liabilities with examples that relate to own business venture

The importance of finances as part of a business plan with examples

Determine income and expenditure of new venture. Complete the following tasks and provide workplace evidence to show that you have done the following:

a$.$ Submit a list of your expenses for your new venture

b$.$ Compile and submit a budget for your new venture. Include the following:

Explain the concept of budgeting with examples of how budgets apply to new ventures

Budget income according to market research and business growth opportunities

Identify fixed and variable costs within own business context

Explain methods for managing and controlling budget, with examples