Session on "Building Robust Financial Model"

The Two-day mentoring session was organized by AIC-RNTU Foundation for the participating startups of Discover Cohort 2023. Session on "Building Robust Financial Model" was taken by Mr. Darshan Rathod.
Day 1:
First day of session started with warm welcome from Mr. Darshan who he started the session with defining Business Financial Model. He included following important points one need to keep in head while preparing financial model:
1. What period you're talking about?
2. What currency and number system you're using
3. Structure and interrelationship of financial statements
4. Balance sheet
5. Income Flow Progress
6. Cash Flow Statement
He briefly explained all the above points. While making startups understand about Balance sheet he mentioned, balance sheet can be prepared at any point of time. He also talked about Liabilities, assets- tangible/intangible, preference shares, convertible preference shares and veto rights. In his session, Mr. darshan also made founders understand that while running a startup, you should never make payments from your personal account. Mr. Darshan explained Gift Tax, 11NA Rules and components of cash flow- cash flow from operations, cash flow from investing and cash flow from financing. While concluding Day 1 of mentoring session, Mr. Darshan shared a format of financial model with startups and asked to prepare their startups model using the same.
Day 2:
Day 2 of "Building robust Financial model" was more about Q&A and discussing financial models of participating startups. It provided light on jargons and insights of the format of financial model.

Date and Venue: 2023-05-12 - Zoom Meeting

Objectives in Brief: To impart knowledge on Financial structure and its element along with the importance and process to develop financial for one’s startup.

Key Speaker: Mr. Darshan Rathod, Founder & CEO Acumen
Name of Convener(s): Ms. Krati Jain, Asst. Manager, AIC-RNTU Foundation

Organizers/Co-Organizers: AIC-RNTU Foundation