Week 10 Reading Reflection

After reading this chapter, I concluded that it was mostly a summary of my financial accounting class.  Most of the information was extremely familiar, such as the balance sheet,  income statement, and the explanations of these two finance tools. Especially because I am a finance major, paragraphs about aspects of finance such as cost of goods sold and cash flows were review. One thing that did surprise or interest me was the information about pro forma statements. The book described them as forecasts or projections of a firms financial period during a future period.  I either do not remember covering this information in earlier classes, or we did not have time to go over it in the semester. This chapter is complicated, not confusing.  There is not much to debate or disagree with because the information is very straight ford and deals with math and finances.  There are set ways that business's keep track of their funding and accounting, so theres really no disagreeing with the author.  If I were to ask the author a question, I would ask if he thinks that the financial aspects of a business are the most important part.  Are entrepreneurs still able to successfully start a business if they know little about finance?  What is the correlation between entrepreneurs being successful, and their finance knowledge?