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On today’s episode, we are joined by Carlos Careaga, a Finance Director for Associated Students at San Diego State University. He is here to break down the importance of pro formas financials and why they are key to your business. We discuss what goes into a pro forma (05:14), the importances of questions and research (07:32), we share a couple of stories (17:04), and talk about rules and regulations (36:27).
The Get Found Get Funded podcast is at the intersection of entrepreneurship and social justice where we focus on entrepreneurship as a possible path to wealth creation — specifically for Black and Latinx communities.
Carlos Careaga, Senior Finance Professional with 19 years expertise in the areas of Financial Analysis, Annual plan, Forecasting, Financial Modeling, Leadership, Coaching, Strategic Analysis, Percentage of Completion Methodology, Change Management, Controllership experience, Mentoring, Process Improvement, Oracle, and SAP
Learn More About Carlos Careaga:
01:56 Carlos Careaga’s background
03:40 The definition of pro forma financials
05:14 What goes into a pro forma?
12:14 Pro forma numbers versus reality
14:54 Where do to begin
28:03 Profit and loss definition
30:41 Balance sheet definition
33:53 The cash flow statement
36:27 Tax rules, accounting rules, and regulations
39:55 Understanding your numbers