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Susan, Sonil, and Shao are software engineers working for IT Solutions, a top New Zealand based software house. One day over coffee Susan tells Sonil and Shao that she wants to leave her job and start her own cafe business. Sonil and Shao find the idea exciting and ask if they can also join Susan in her new business venture. Susan agrees and the three friends decide that they will run a business together. However, Sonil is a bit concerned and points out that neither of them has a lot of experience in business and accounting. Shao agrees and suggests that perhaps they should seek advice from an expert on the ins and outs of running a business in New Zealand. The three friends come to you to seek advice for their new business venture. QUESTION :
What incomes and expenses are they likely to have and how would they know if their business is performing well?
What is the role of accounting information in assisting their business secure any additional funding?
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