Financial Plan

1. Generate a Sales and an Expense budget for the business. The sales forecast should include a breakdown of monthly sales and expenses.

2. Based on the forecast, create the income statement, balance sheet and a statement of cash flow.

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Sample Solution

Man is a scientific being, as a scientific being, he lives in a scientific world. The world that is full of signs and wonders. A scientific man living in a scientific world can never avoid scientific exploration. This exploration does not necessarily mean to enhance the standard of living but most importantly, to interpret, explain and to understand the laws and forces which characterize the scientific world. The way science goes about this is through a method known as Scientific Methodology; it is believed to distinguish Science from Non-Science. Popper, however, was not pleased with this methodology because it is purely inductive in nature. Popper, in the search to underscore the Logic of Scientific Discovery, of any scientific inquiry arrived at first in working out a criterion, a modus, a basis, a foundation upon which science can and should operate.
2.1 Inductive Inference
Induction is a systematic arrangement of data from and experimentation to provide justification in a certain degree of probability for a particular conclusion. Induction normally consists of some manner of generalization from a number of particular instances to a universal proposition. The distinctive character of induction is that there is no necessary connection between the particular proposition and hypothesis derived from such particulars. Unlike inductive proposition, the deductive proposition or reasoning holds to a very high standard of correctness. A deductive inference succeeds when its premises provide such absolute and complete support for its conclusion that it would be utterly inconsist