Q57
What are Financial Assumptions? [1 Mark]
Expert Answer
Financial Assumptions:
Financial Assumptions are necessary for every business. The business plan in every business must have financial assumptions like income statement, balance sheet, cash flow statement.
Income Statement:
Income statement is very essential in business it reflect earning and spending of the business and sales purchase of company. When you plan for business income statement should be prepared for the next 3 or 2 years. From income and expense statement sales strategy would be created and one can make better market analysis.
Balance Sheet:
Balance sheet reflects the assets and liabilities for the financial year.
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