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Understanding financial and accounting statements is another critical aspect of running a business.

3-5 pages (not including cover page and resource page) Understanding financial and accounting statements is another critical aspect of running a business. Business owners look at their income statements and balance statements at least once a month to see how much they are profiting and what they might be losing financially. This helps to make future decisions on where you want to reallocate money into your business or what other changes you want to make to reduce costs and improve profits. Please review the articles below to learn more about income statements and balance sheets: – Why is an income statement important to you as a business owner? Read an article that can help answer this question and the following question. – What are the key components from an income statement that will affect you as a business owner when making decisions? – Why is a balance sheet important to you as a business owner?

Read an article that can help answer this question and the following question. – What components of a balance sheet will affect you as a business owner when making decisions? Objective Develop an integrated and comprehensive plan to launch a new business venture. Examine the small business environment and the aspects involved in the development of a new venture. Select strategies for managing new business ventures. Please use this template to complete your assignment. (Second Attachment)