Introduction
By the end of this module learners will get necessary information about the financial implications of setting up their Social Enterprise. This will cover from determining the financing need to calculating the transition point to profit as well as calculating the required sales amount for the desired profit.
Purpose
The general purpose of this module is to provide entrepreneurs with basic knowledge of accounting, budgeting and financial
The general purpose of this module is to provide entrepreneurs with basic knowledge of accounting, budgeting and financial management for their Social Enterprise.
Learning Outcomes
Knowledge: Participants will be able to understand and interpret financial information and explanations by grasping the relationship and interaction between accounting, basic financial statements and financial management concepts by using the basic concepts and knowledge gained in financial management, budget and accounting.
As entrepreneurs, they will be able to understand pro forma financial statements by determining what kind of financial situation they will encounter after determining the financing need of the enterprise during the establishment phase.
- Skills: Participants will enhance their skills in calculating the enterprise’s transition point to determine the amount of sales needed for the desired profit as well as developing a sustainable budget for their enterprises.
- Competences: Participants will increase their knowledge of financial management, budget and accounting, and will be able to exchange information and discuss with their peers, investors, partners or eco-system stakeholders.
Keywords
Finance, Budget, Accounting, Financial Statement, Balance Sheet.
Main content of the chapter
In this chapter, participants will have the chance to get information about the necessary finance to set up and run their business, the cash amount their business will generate and when they reach to breakeven point for their Social Enterprise.
