- Writing a Business Plan
- Financial Statements
- Business Forecasting
- Business Checklist
Part 1 - Determine the Fixed Assets You Plan to Invest into the Business
Often entrepreneurs have personal fixed assets that can be used in their businesses. For example, many entrepreneurs invest their personal computer, their photocopier, their fax machine, a building, land, their car, and so on, into their business. Once such assets are recorded on the company's books, they're no longer considered personal assets; that is, they become the property of the business.
If you plan to invest any personal fixed assets into your company, each asset must be appraised. Appraisals simply determine the Current Market Value of each fixed asset. Lets assume, Murray plans to invest his automobile, computer, printer, and other computer accessories into his company. Lets further assume, the "Automobile" was appraised at $6,000 and the "Computer & Accessories" were appraised at $3,900. As a result, the total value of the fixed assets Murray plans to invest into his company is $9,900.
|Automobile - appraised value||$6,000|
|Computer and accessories - Appraised||$3,900|
|Total Fixed Assets Invested into the Business||$9,900|