Forecasting and Preparing Financial Statements: Evaluate the challenges faced by your friend in her new business venture.


  •   Assignment 1: Discussion—Forecasting and Preparing Financial Statements
    Tina, one of your friends, approached you and proposed a  partnership in a new venture that she is planning to start—a fashion  boutique that will sell women’s clothing and accessories. She told you  that she leafed through several books on how to prepare forecasts and  pro forma financial statements, but the books were geared toward  existing firms that have several years of historical financial  statements on which to base their projections.
    In this assignment, you will review the accounting  concepts and financial statements presented in this module to critically  evaluate the challenges faced by your friend in her new business  venture.
    Respond to the following points:
  • If your friend asked you for advice on how to prepare forecasts for a new fashion boutique for women, what would you tell her?
  • As a potential partner, what would be the important financial  statements to be in place for an initial assessment of the venture?  Provide details and justification of each choice.
  • Submission Details:
  • By the due date assigned, in about 300 words, post your responses to this Discussion Area.
  • Through the end of module, respond to at least two  of your classmates’ posts who chose terms different from yours. While  responding, address issues brought up in your classmates’ posts and  compare them with yours.
  • Write your initial response in 300–500 words. Your response should be  thorough and address all components of the discussion question in  detail, include citations of all sources, where needed, according to the  APA Style, and demonstrate accurate spelling, grammar, and punctuation
    Do the following when responding to your peers:
  • Read your peers’ answers.
  • Provide substantive comments by
    • contributing new, relevant information from course readings, Web sites, or other sources;
    • building on the remarks or questions of others; or
    • sharing practical examples of key concepts from your professional or personal experiences
  • Respond to feedback on your posting and provide feedback to other students on their ideas.
  • Make sure your writing
    • is clear, concise, and organized;
    • demonstrates ethical scholarship in accurate representation and attribution of sources; and
    • displays accurate spelling, grammar, and punctuation.
    • Grading Criteria
      Grading Criteria  Maximum Points    Quality of initial posting, including fulfillment of assignment instructions  16    Quality of responses to classmates  12    Frequency of responses to classmates  4    Reference to supporting readings and other materials  4    Language and grammar  4    Total:  40


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