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Messages - OtherStudent

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Role Play / Re: Hotel and Lodging Management Tips
« on: January 31, 2018, 03:14:23 pm »
Hi Oliver,

My main tip for people taking role play test is practice, practice, and practice.
A quizlet is a great way to study terms that will appear on the test.
Also, make sure to use TX DECA's practice testing site to your full advantage. Through it, you can receive immediate feedback on all tests you take.
Here is the link to the practice testing site. You should've received information regarding how to login from your advisor.
https://www.answerwrite.com/deca/tx-d07p

Best of luck!

2
Written Events / Re: Independent Business Plan Tips: Financials
« on: January 31, 2018, 03:00:27 pm »
Hi Oliver,

Your cashflow should show how cash is moving around through your business. It should show your cash inflow and outflow, combining to form your net cash flow.
The most common cash inflow would be revenue generated from customer purchases or royalties if applicable.
Some cash outflow examples are investments, purchases, and loan repayment.

Your income statement should show your net profit, found by subtracting expenses from income. Income is typically constituted of customer purchases while expenses cover things such as research and development, cost of goods sold, marketing costs, and taxes.


Good luck!

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