ENTREPRENEURSHIP
QUARTER 2-MODULE 2: STARTING AND OPERATING A SMALL
BUSINESS
WHAT’S IN
1. Manpower
2. Machine
3. Supply Chain
4. Materials
5. Value Chain
6. Business Model
7. Method
8-10. Sales forecasting helps businesses to allocate capital for potential growth effectively and
monitor their cash flow. Sales forecasting also enables companies to accurately predict their costs
and profits on the basis of which they can forecast their short-term and long-term results.
WHAT’S MORE
A.
Cruz Law Firm Income Statement for the year ended December 31, 2020
Revenues: ₱ 520,000
Expenses
Utilities Expenses ₱8,500
Rent Expenses ₱10,500
Salaries Expenses ₱125,000
Advertising Expense ₱5,000
Total Expense: ₱ 149,000
Net Income: ₱371,000
B.
Lopez Bakeshop Income Statement for the year ended December 31,2020
Revenues: ₱450,000
Expenses:
Less: Cost of Goods Sold
Materials: ₱80,000
Labor: ₱28,000
₱108,000
Gross Profit:
₱450,000
₱108,000
₱342,000
Less: Expenses
Utilities Expense: ₱12,000
Advertising Expense: ₱3,000
Rent Expense: ₱8,000
₱23,000
Income before interest and taxes
₱342,000
₱23,000
₱319,000
Taxes:
Less:Tax ₱319,000
₱101,280
Net Income: ₱217,720
WHAT I HAVE LEARNED
1. Objectives
Tasks
Time Allocation
Progress
2. Certificate of Business Name Registration
Barangay Clearance
SSS,PhilHeath,PAG-IBIG Registration
Mayor’s Permit
BIR Registration
3. Records are very essential to business. These will serve as source documents and
references,both physical and electronic, it includes transaction dates and amounts, legal agreements,
private customers,and other business details.
• plan and work more efficiently;
• meet legal and tax requirements;
• measure profit and performance;
• generate meaningful reports;
• protect your rights; and
• manage potential risks.
4. A bookkeeper should maintains and update the company's financial
records either daily or at
least weekly. This is done to ensure all transactions are reported and accounted for.
5. Subtract the expenses from the revenue and you get your company's
net earnings – it will be a profit or a loss. When your revenue is higher than your expenses, you make a
profit.
WHAT I CAN DO
Yogurt Business
Product produce and prices
Product Price Qty./Day
Yogurt 35 20
Yogurt with Strawberry 50 20
Yogurt with Banana 50 20
Yogurt with Blueberry 50 20
Yogurt with Papaya 50 20
Yogurt with Mango 50 20
TOTAL 120
Day 1-5 Sales income
Day 1 Day 2 Day 3 Day 4 Day 5
₱700.00 ₱700.00 ₱700.00 ₱700.00 ₱700.00
₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00
₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00
₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00
₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00
₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00 ₱1,000.00
₱5,700.00 ₱5,700.00 ₱5,700.00 ₱5,700.00 ₱5,700.00
₱28,500.00
Statement Income
Revenues ₱ 28,500.00
Cost of Goods ₱ 3250
Gross Profit ₱ 25,250.00
Miscellaneous Expenses ₱ 1,300.00
Permit and License ₱ 3,000.00
Income before tax ₱ 17,700.00
Tax ₱ 5,664.00
Net Income ₱ 12,036.00
ASSESSMENT
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. FALSE
6. TRUE
7. TRUE
8. TRUE
9. FALSE
10. TRUE
