Assume that you have the basics of financial record keeping down pat. You have a
ID: 2814339 • Letter: A
Question
Assume that you have the basics of financial record keeping down pat. You have a good handle on your personal cash flow and other day-to-day issues, such as expenses (i.e. gas, daycare, groceries, etc) In some cases, you may need to undertake a fairly detailed financial analysis of your personal financial position because you are to purchase an item wherein you will need a loan (i.e. new car, home improvements, start a busi .How will you determine if you are in the position to financial take on my debt? . What items/documents will you review to determine your financial position? What tools will you use to analyze and understand your financial position? Please answer all prompts to ensure you get full credit and make sure to support your answer.Explanation / Answer
1. What was my total income in the considered period, what are my expenses, what are the repeated expenses, what are contigencies funds like medical and what is the size of those expenses. if my income less expenses which are recurring plus miscallenous is more than the interest to be paid on debt I am in position for your debt.
2. Income sources, Expenses sources, Bill books, Daily expense diary, bills, etc.
3. Spreadsheets, calculators, Formulaes etc.