By Linette Arnoux at September 17 2020 19:18:17
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry?
The financial statements section should show the way things are now if you have an existing business, as well as a forward look at your checking account, or projected income statement. The only way a start_up company can provide an income statement and balance sheet is by projecting these figures based upon well defined assumptions. Both start_ups and existing businesses should include a statement of owner's equity.