- Funny enough, this entire section is exactly what I'm learning in the Business Plan lab at UF. Like exactly the same material. The reinforcing coincidence of that is what stood out to me the most. Also, this section was presented in a way more complicated manner than I think it needs to be. Just reading this was really overwhelming and I think if it were to be explained in simpler terms it wouldn't have been as bad.
2) Identify at least one part of the reading that was confusing to you.
- I don't think the author did a great job at explaining credits and debits and how one goes on the left and the other goes on the right. When I took financial accounting this was a really confusing issue to me that I think is still confusing. And I'm doing a business minor so this has to be really confusing for non-business students.
3) If you were able to ask two questions to the author, what would you ask? Why?
- Are operating expenses the same as fixed costs? The example financial sheets are confusing me because I thought accounting was suppose to look the same regardless of the class teaching it...
- For an entrepreneur, what is the most important financial tools or formulas an entrepreneur should use? And does pricing factor in to how you label certain costs? I'm confused about that too.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
- I think the author could have done a better job at explaining how the financials of a business all tie in together and give investors a concrete view of how the business is going to make money. Also I don't think capacity was mentioned, which is what needs to be calculated for understanding a business's sale goal. (Unless I missed that?)
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