SDC Business 321: Small Business Management Assignment

[Diana321]

Has anyone completed the assignment for Study.com's Small Business Management course?  I need to create a business plan for an existing small business.  The goal of the business plan is to make improvements with respect to strategic planning, change/risk management and financial planning.    I chose the business that my friend and I build together - a small real estate law firm.  I thought this would be a less difficult assignment for me since I wrote our original business plan and the only thing I don't know about our business is how to be the attorney.

This brings me to my currently dilemma.  I am completely stuck on the financial planning section where they want me to create a projected balance sheet, a projected income statement and a projected cash flow statement.    I'm at a loss as to how deep of a dive to take here.  Do they want nitty-gritty specifics, like what will I likely spend in office supplies, and how much do I anticipate my office equipment depreciating?  Or is it more of an overview of "here's what I want my revenue to be, here's my anticipated expenses (broad expenses...rent, etc)" and then go from there?  I think I got lost once I pulled my Quickbooks reports and realized just how detailed these reports are.  

This is only my 2nd study.com course that has an assignment on it.  I'm still waiting for my first one to be graded, so that's adding to my worry in that I just don't know how much/how little they scrutinize these assignments.  Any help is greatly appreciated, thank you in advance!

[lacussucceed]

I cannot access the assignment, but in general: keep it simple, no specifics needed, show you understand the relationship between the different sheets/statements and put whatever you need to put there on the right side/sheet/statement.
Final advice: follow the rubrics.

[HogwartsSchool]

Has anyone completed the assignment for Study.com's Small Business Management course?  I need to create a business plan for an existing small business.  The goal of the business plan is to make improvements with respect to strategic planning, change/risk management and financial planning.    I chose the business that my friend and I build together - a small real estate law firm.  I thought this would be a less difficult assignment for me since I wrote our original business plan and the only thing I don't know about our business is how to be the attorney.

This brings me to my currently dilemma.  I am completely stuck on the financial planning section where they want me to create a projected balance sheet, a projected income statement and a projected cash flow statement.    I'm at a loss as to how deep of a dive to take here.  Do they want nitty-gritty specifics, like what will I likely spend in office supplies, and how much do I anticipate my office equipment depreciating?  Or is it more of an overview of "here's what I want my revenue to be, here's my anticipated expenses (broad expenses...rent, etc)" and then go from there?  I think I got lost once I pulled my Quickbooks reports and realized just how detailed these reports are.  

This is only my 2nd study.com course that has an assignment on it.  I'm still waiting for my first one to be graded, so that's adding to my worry in that I just don't know how much/how little they scrutinize these assignments.  Any help is greatly appreciated, thank you in advance!

A tad bit of advice for SDC courses with assignments. (yes, I have taken SDC small biz management course and passed).
1. For written assignments, don't go overboard with details. only provide what's required in the rubric.
2. Courses with written assignments are divided into quizzes, exams and written assignment. Remember, you only need 210 points to pass the course. quizzes should be close to 100 points, take the exam now with a goal of 70+ grade. Then the written assignment will only need a 40 to pass the course.
3. Submit the assignment and get feedback and resubmit if needed.
4. SDC grades don't transfer, its simply pass or fail. Get the 210 points and move on to the next course.

[Diana321]

Thank you both for your insight. I did exactly as you both suggested and kept it simple while sticking to the rubric. I finished the assignment this evening and will give it a final look tomorrow for any glaring typos