Need some help in figuring out where startup costs and Yr 1 costs end or merge.
My business plan is about a website. It will take 7 months to develop, etc. So, I have calculated my startup cost for all expenses incurred until the site goes live.
When creating Yr 1 financial statements i.e cash flow, income stat, & balance sheet do I add startup costs (7 months) to the 3 months left in the year and call it my Yr 1 financial statements?
Or does Yr 1 begin in the 8th month? If yes, how do I deal with startup costs for financial statement situation.