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|Meet Day||M/W||2:40 PM - 4:00 PM||LAND|
“Creating something from nothing,” the essence of entrepreneurship, requires more than the capacity to innovate, recruit, inspire, and strategize. Building a new organization also demands facility with the language of commerce. Whether leading for-profit or not-for-profit ventures, entrepreneurs must speak fluently with those who fund, oversee, and support them about the financial dynamics of their operations. This course teaches such leaders essential financial terms, tools, and concepts with an emphasis on “business plan” development. Those interested in innovation from the standpoint of policy, regulation, or politics also will benefit from gaining this type of knowledge about independent enterprises, as will those who seek to be “intrapreneurs” in governments or corporations. Subject matter will include the entrepreneurial process, expectations of investors / funders, key accounting terms / concepts, valuation, and the practical application of these topics to financial planning and performance analysis. Students will acquire familiarity and comfort with financial statements (income statements, balance sheets, statements of cash flows) and with related accounting issues. We also will review how an understanding of economic drivers enables the successful development of an organization’s strategy, forecasts, systems, and culture. As they learn key concepts and practices, students will construct an integrated financial plan for their proposed (or hypothetical) venture, sharing their work regularly with the instructor via Dropbox. Weekly short assignments will allow students to demonstrate comprehension of key concepts (graded check, check minus or check plus). There also will be a final exam. Grades will be based ¼ on class participation, ¼ on the weekly short assignments, ¼ on the financial projections project and ¼ on the final exam.