Money 101 - FOUNDATION program - pre-class questionnaire (June 2021)

WELCOME - there are 32 questions in this survey - should take you 15-20 minutes

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* 1. Full Name and Email

Name

Email Address

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* 2. Are you the person that PRIMARILY handles your household finances

Yes

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* 3. Within the past year, have you prepared a written Personal Financial Statement for your net worth (assets, debts, etc.)?

No - have not needed to do this so far

Yes - I did it once or twice

Yes - and I have done it for multiple years so I can track the change in my net worth

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* 4. Have you reviewed your personal tax return (line by line) and understand where the information is coming from?

No - I'd rather have my teeth pulled !

Yes - briefly - I get the big picture

Yes - line by line and I understand how it all comes together and has changed year to year

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* 5. Do you understand why estimated taxes may need to be paid, when to pay them, and how to calculate?

No - I've never made any estimated payment so I don't worry about it

More or less - and my accountant tells me what to pay so I don't worry about it

Yes - and I understand the nuances of how to calculate, and avoid penalties

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* 6. Have you ever applied for a personal bank loan, other than a credit card?

Yes

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* 7. Have you checked your credit report in the past six months?

Yes - but only my credit score, not the details

Yes - I have checked both my credit score and reviewed the details (debt and payment history) for accuracy

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* 8. On a scale of 1 to 5, with 1 being inactive, and 5 being very active, how active are you in managing your long term investments (savings, IRA, 401K, etc)

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* 9. Is your business a "START UP" or an "ESTABLISHED BUSINESS" ? -

A Startup = a business that has not yet been PAID for their product or service (do not count payments from family members and friends).

An Established Business = is defined as one which has sold and been PAID for their product or service by someone other than family members or friends

No - I do not have any business (nor am I working on starting one)

Yes - I have a startup, but have not yet completed my startup financial projections

Yes - I have a startup business and have completed my startup financial projections

I have an " established business" as I have been PAID for my product/service, however I have not prepared a profit and loss or balance sheet for the business

I have an "established business" as I have been PAID for my product/service, and I have at least one year's full financial statements (profit and loss, balance sheet, cash flow statements)

Other (please specify)

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* 10. Have you defined your business' sources of revenue?

No - Still working on different ideas

Yes -

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* 11. Have you projected a business budget for next year?

No - still working on it

Yes - but I am struggling with knowing if my projections are accurate

Yes - and I have historical data on which I am basing my projections

Other (please specify)

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* 12. Have you decided how much of your own personal assets you are willing to put at risk (invest) in your business? While we expect your venture to be successful, we often ask entrepreneurs to calculate how much they are able to invest in their venture, so that even if they lost it all, it would not have a major significant impact on their personal life.

Yes

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* 13. Have you identified from where you will get the additional assets to fund your business ?

No - because I have calculated that I will not need additional investments or loans for the next two years

No - I have not yet identified where to get the extra funding I believe I will need

Yes - I have a plan of how to get the extra resources I will need (but I have not received them)

Yes - and I have already received investments or loans from others to fund my business

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* 14. For how many years have you been working on or in your business?

Under 2 years

2 - 9 years

10 or more years

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* 15. What does your business sell?

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* 16. During the last few years you have been in business, have your sales grown?

I am not sure

Yes - primarily upward

Yes - a steady trend up

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* 17. When you work in your business, do you get compensation for your time?

Yes

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* 18. What financial software accounting system do you use to keep track of your business income and expenses?

None

Excel

Google spreadsheet

Numbers (App in Macbook)

Quickbooks

Pen & Paper

Other (please specify)

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* 19. Do you use the services of bookkeeper or do it all yourself?

No - I do it all myself

No - I don't do any bookkeeping

Yes - I use a bookkeeper on a part-time basis (or outsource as needed)

Yes - I use a bookkeeper and they work for my business full time

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* 20. Do you have an accountant who reviews your business records and files your tax returns?

No - I do it all myself

Yes - I use an accountant, but I ONLY meet with him annually at tax time to file my taxes

Yes - I use an accountant and we meet regularly to review my progress during the year

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* 21. How often do you review your business financial progress?

I don't review it, formally, I just look to see if there is any money in the bank

I review it annually - (generally at tax time)

At least every quarter (three months)

Monthly

Daily, as I track all income and expenses on a real "live-time" program

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* 22. Are your financial reports prepared in a timely manner? (within 15 days of the close of the prior month)

Yes

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* 23. Have you ever used financial ratios or metrics to measure your business progress? i.e. income ratio, sales turnover, aging of Accounts Receivable, Gross Profit Margin etc.

No - never look at ratios

On occassion

Yes - I look at key metrics on a regular basis

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* 24. Do you understand your business balance sheet, income statement and cash flow statement?

No - it does not make a lot of sense to me

Somewhat - I get the big picture, but some details may get lost

Yes - I have a firm understanding of how those three financial reports work together and chart the business progress

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* 25. Do you have W-2 employees?

Yes - but no more than 3 at any one time

Yes - 4 or more on average

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* 26. Do you employ outside contractors to whom you have given a 1099 at the end of the year?

Yes

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* 27. Do you have a business borrowing relationship with a bank?

No - but I have a personal line of credit I can use

Yes - I have a business borrowing relationship with a bank

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* 28. Have you reported your business income/loss to the taxing authorities? (IRS)

I have NOT reported my business income or loss on a tax return as of yet

I report my business income/loss on my personal tax return (generally Schedule C)

I report my business income/loss on a business tax return

Other - please explain

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* 29. Have you purchased any fixed assets for your business in the past?
A fixed assets would be something like machinery, a truck, computer, any items with a useful life of more than one year.

Yes

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* 30. Do you understand the concept of "Depreciation Expense" and how it effects your taxable income and cash flow? (see levels of understanding below)

No - not a clue

A bit, but I never really understood the impact

Yes, and I understand how depreciation expense effects my taxable income and cash flow

Yes, and I understand how to calculate depreciation expenses using different techniques (straight line, accelerated, double declining balance, etc )

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* 31. Do you have ANY business insurance policies? this could include, General Liability, Workers Compensation, Umbrella policies, Employee Benefits,

Yes

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* 32.

TELL US ABOUT YOURSELF - in the comment section, for example

What are your greatest financial literacy challenges?

What do you hope to get out of this course?

Have you ever taken an accounting or business financial classes?

Would you rather be on the beach than in this class? or anything fun we should know about you.

Money 101 - FOUNDATION program - pre-class questionnaire (June 2021)

WELCOME - there are 32 questions in this survey - should take you 15-20 minutes

Question Title

* 1. Full Name and Email

Question Title

* 2. Are you the person that PRIMARILY handles your household finances

Question Title

* 3. Within the past year, have you prepared a written Personal Financial Statement for your net worth (assets, debts, etc.)?

Question Title

* 4. Have you reviewed your personal tax return (line by line) and understand where the information is coming from?

Question Title

* 5. Do you understand why estimated taxes may need to be paid, when to pay them, and how to calculate?

Question Title

* 6. Have you ever applied for a personal bank loan, other than a credit card?

Question Title

* 7. Have you checked your credit report in the past six months?

Question Title

* 8. On a scale of 1 to 5, with 1 being inactive, and 5 being very active, how active are you in managing your long term investments (savings, IRA, 401K, etc)

Question Title

Question Title

* 10. Have you defined your business' sources of revenue?

Question Title

* 11. Have you projected a business budget for next year?

Question Title

Question Title

* 13. Have you identified from where you will get the additional assets to fund your business ?

Question Title

* 14. For how many years have you been working on or in your business?

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* 15. What does your business sell?

Question Title

* 16. During the last few years you have been in business, have your sales grown?

Question Title

* 17. When you work in your business, do you get compensation for your time?

Question Title

* 18. What financial software accounting system do you use to keep track of your business income and expenses?

Question Title

* 19. Do you use the services of bookkeeper or do it all yourself?

Question Title

* 20. Do you have an accountant who reviews your business records and files your tax returns?

Question Title

* 21. How often do you review your business financial progress?

Question Title

* 22. Are your financial reports prepared in a timely manner? (within 15 days of the close of the prior month)

Question Title

* 23. Have you ever used financial ratios or metrics to measure your business progress? i.e. income ratio, sales turnover, aging of Accounts Receivable, Gross Profit Margin etc.

Question Title

* 24. Do you understand your business balance sheet, income statement and cash flow statement?

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* 25. Do you have W-2 employees?

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* 26. Do you employ outside contractors to whom you have given a 1099 at the end of the year?

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* 27. Do you have a business borrowing relationship with a bank?

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* 28. Have you reported your business income/loss to the taxing authorities? (IRS)

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* 29. Have you purchased any fixed assets for your business in the past? A fixed assets would be something like machinery, a truck, computer, any items with a useful life of more than one year.

Question Title

* 30. Do you understand the concept of "Depreciation Expense" and how it effects your taxable income and cash flow? (see levels of understanding below)

Question Title

* 31. Do you have ANY business insurance policies? this could include, General Liability, Workers Compensation, Umbrella policies, Employee Benefits,

Question Title

* 29. Have you purchased any fixed assets for your business in the past?
A fixed assets would be something like machinery, a truck, computer, any items with a useful life of more than one year.