Business Financial Planning

The Business Life Cycle Part 1: The Conceptual Stage

Course Overview:
This course will introduce the user to the different steps in a business life cycle. This includes an overview of the new business idea conception, identification of customers, location, and pricing, as well as product supply, financial feasibility, and forecasting. Finally, the advantages and disadvantages of different business structures (i.e. sole proprietorship, C Corp, LLC, etc.) are also presented.

Learning Objectives:

After completing this course, participants should be able to:
  • Identify the key issues to consider when formulating a new business idea.
  • Recognize the factors to consider when identifying potential customers.
  • Identify the questions to ask yourself with respect to demand, quality, price, and market location.
  • Assess the financial feasibility of a new business as well as short term forecasting for both accounting and cash flow.
  • Differentiate between the various business structures and identify the advantages and disadvantage of each.

Prerequisites/Advanced Preparation:


Speaker / Author:

Richard L. Hecht, CPA, is the Managing Member of Audubon Consulting Group LLC. Mr. Hecht advises clients on a variety of strategic, financial, accounting and tax issues. He counsels business owners on critical decisions relating to growth opportunities, mergers and acquisitions, divestitures, corporate restructuring and ownership transitions.

Previously, Mr. Hecht was a senior partner and member of the Operating Committee of Marks Paneth LLP, the 14th largest accounting firm in the New York metropolitan area. Marks Paneth LLP has grown from revenue of $25 million at its founding in 2000 to a $100 million firm. His practice focus was business and tax consulting with clients. He has also spoken before legal groups regarding law firm management and accounting issues.

An active participant in numerous professional organizations, Mr. Hecht is a member of the American Institute of CPAs and the New York State Society of CPAs (NYSSCPA), where he was a Vice President.

Mr. Hecht donates his time and expertise to nonprofit organizations. He is a Member of the Board of Directors of Community Capital New York, a CDFI, and the Budget, Management and Advisory Committee for the City of White Plains and is a past Director of Story Corps.

Mr. Hecht holds a Bachelor of Arts in Political Science from Cornell University and a Master of Business Administration in Accounting from New York University.


Price (USD)

Standard: $49.90


Course Code : 99HEC01

Release Date : 04/07/2015
Expire Date : 12/31/2020
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Basic
Course Type : New Standards
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Finance

Theme : Business Financial Planning

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