Music Business

How can we prepare a statement of financial requirement?

The Music Telegraph | Text 2019/03/08 [13:06]
Music Business

How can we prepare a statement of financial requirement?

The Music Telegraph| 입력 : 2019/03/08 [13:06]

 

 



 

How can we prepare a statement of financial requirement?

 

 

How can we determine how much money we actually need to start up and survive in our business for the first 3 months?

 

 

We need to figure out our:

1. Start up costs

2. Operational costs

3. Personal Costs

4. Capital costs (sources)

 

 

Determine what expenses you might have in your particular business. (make a list)

 

 

*Fixed Costs - Cost that stay the same every month

*Variable Costs - Costs that differ from month to month

 

—————————————————————————————————————-

 

Statement of Financial Requirements (3 months)

 

 

 

1. Start-up costs Amount
Licenses: $
Trademark Application Fee: $
Rent Deposits $
Legal Fees: $
Equipment: $
Inventory/Supplies: $
Advertising/Promotion $
Utility Deposits: $
Decorating/Furnishing: $
Subtotal $

 

 

 

 

 

 

2. Operational costs Amount
Rent: $
Utilities: $
Salaries: $
Taxes: $
Insurance: $
Inventory/Supplies: $
Advertising/Promotion: $
Accounting: $
Travel/Misc.: $
Subtotal $

 

 

 

 

 

 

3. Personal costs Amount
Housing: $
Food: $
Utilities: $
Transportation: $
Insurance: $
Miscellaneous: $
Subtotal $
Total Expenses $

 

 

 

 

 

 

4. Capital sources Amount
Personal saving: $
Friends, family, relatives: $
Subtotal $
Bank $ 
Total Capital sources: $

 

  

*Grand total of Expenses must = your total capital sources

 

 

 

 

 

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