Entrepreneurship Quarter 2 Module 7: Forecasting Revenue and Cost

Introduction to Business Forecasting00:00:01

An overview of module objectives, explaining the importance of forecasting in business, similar to weather forecasting, to prepare for potential risks and maximize success.

Lesson 1: Forecasting Revenue00:02:49

Discussion on identifying markup, setting selling prices, and understanding external/internal factors that affect revenue, such as economic conditions, competitors, and production capacity.

Practical Computation of Projected Revenue00:10:32

Step-by-step tutorial on calculating markup prices and daily, monthly, and yearly projected revenues using the 'Pit Moto' online clothing business as a case study.

Adjusting for Growth and Decline00:14:52

Methods for adjusting revenue projections based on anticipated monthly fluctuations, including percentage-based increases or decreases.

Lesson 2: Forecasting Costs and Expenses00:20:17

Explaining the difference between Cost of Goods Sold (COGS) and operating expenses. Details how to calculate inventory, transport costs (freight-in), and monthly utilities.

Final Cost Calculation00:28:57

Finalizing the total business cost by combining the total cost of goods sold with the total operating expenses to determine the full financial commitment for business operation.