Lesson 1, Topic 1
In Progress

3.1 Personal income and expenditure statements are prepared for oneself based on own financial situation over the past year.

ryanrori January 7, 2021

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Personal income and expenditure statements

My personal assets and liabilities statement

I OWN (assets)

  • Cash
  • Bank accounts
  • Others
  • Securities – quick sale value:
  • Property – quick sale value
  • Furniture – quick sale value:
  • Car – quick sale value
  • Surrender value of life assurance policy
  • Savings/Shares
  • Other assets
  • Receivables

I OWE (liabilities)

  • Current household bills
  • Instalments contracts:
  • Car
  • Appliances
  • Personal loan
  • Other:
  • Property mortgage:
  • Other loans
  • Insurance premiums
  • Taxes
  • Other debts

Finding finance for a new venture is one of the difficulties experienced by entrepreneurs. It is however, a worldwide trend. Before embarking on the venture, the entrepreneur needs to determine the financial needs of the enterprise.