Unit 1 Discussion - Three Types of Businesses

Based on your understanding on different forms of business organizations, which form of business would you organize once you want to start a business? Explain why did you choose it among others.

The primary reasons people become entrepreneurs include all of the following EXCEPT the desire to: a create one's own schedule. b) ear more money. c) meet the challenge of owning a business. ( d) achieve an external locus of control.

You are an accountant with a client that wants to set up a new company.  She has come to you to ask what type of company to form.  She is trying to decide between a corporation, an LLC, or a sole proprietorship.  Taking into account the ability to raise capital, liability protections, taxation issues, ability to transfer ownership, and any other aspects you can discover discuss the pros and cons of the various entity forms.  You can use your textbook but you should consult other courses as well.   (It depends on what kind of company your client is opening and what they want to accomplish.  The best you can do is give the client some information to think about. This post should cover the general aspects of the various type of business entities.)

Solve a business problem. Do you or someone that you know have a small business with a specific problem or opportunity that needs to be addressed? Expansion plans, entering a new market, establishing various policies, operations issues, training and so on? If so, you can address their problem or opportunity.    Provide a solution that a small business has. And explain how to solve it.

PART 1.) Please list 2 Sole Proprietorship companies that you know of. What do they sell and where? PART 2.) Please list 2 Partnership  companies that you know of. What do they sell and where? PART 3.) Please list 2 Corporation companies that you know of. What do they sell and where? PART 4.) For the Individual Class project of making a business, What business have you decided you would like to create? What are your services? Are you an SP, P or CORP? Please give the details that you have came up with as of yet

In each case below,  I have given a goal that a business might have.  What you need to do is to indicate for each whether the goal can better be achieved if the business is organized as a sole proprietorship or as a corporation and why. goal: to organize and start up the business easily and quickly goal: to protect owner's personal assets from lawsuits against the business goal: to raise large amount of capital for expansion

Assume that you are studying for an upcoming accounting exam with a good friend. Your friend says that she has a solid understanding of general partnerships but is less sure that she understands organizations that combine certain characteristics of partnerships with other forms of business organization. You offer to make some study notes for your friend to help her learn about limited partnerships, limited liability partnerships, S corporations, and limited liability companies. Prepare a one-page set of well-organized, complete study notes on these four forms of business organization.

Write about the positives and negatives of owning a franchise. Do you believe it is a smart business decision? Support your position with examples.

Answer the question below When planning on starting up a new business create a plan on how you will raise funding for your business.

QUESTION  Describe the three basic forms of business organization and discuss their advantages and disadvantages. Define what is meant by an agency relationship and clearly explain what an agency problem is. Use a real life example to demonstrate your understanding. Name three investment rules. Detail the mechanics for each of these rules and compare their advantages and disadvantages. Finally, tell us which rule you personally prefer and why.

An accounting and finance career goal statement should be approximately one paragraph that describes the kind of position and field one would like to move into in the future. What industry does this person hope to find themselves in if they're career goal is to be in the accounting and finance field? What are the skills do they hope to utilize in this position?

Kelly Fernandez and Michael Webster have decided to create a business. They have financing available and have a well-developed business plan. However, they have not yet decided which type of legal business structure would be best for them. Required. Write a report for these two individuals outlining the types of situations in which the corporate form of legal structure would be the best choice.

In each case below, I have given a goal that a business might have.  What you need to do is to indicate for each whether the goal can better be achieved if the business is organized as a sole proprietorship or as a corporation.  goal:  to minimize taxes on profits of the business goal:  the ability to freely transfer ownership interests in the business

Describe the qualities of great business leaders. How they take the business to success with their capabilities and skills? Mention any business leader which inspires you and why?

select a “start-up” company in an industry of your choice and provide a brief summary description of the start-up company you chose and the goods or services it provides. 1. As a start-up company, identify three Credit Risks the company currently faces today or could face in the future. Explain in detail why these risks are a threat to the company. 2. What advice would you give to the CEO of the company to prevent or minimize these credit risks?

Does someone need to start a business from scratch to be called an entrepreneur?Disscuss

Choose TWO of the following questions to discuss: In your opinion, what was the most important topic or subject you studied in this course? Explain your answer. What topic or subject did you struggle with most in this course? What did you find most surprising about this course?  What did you learn in this course that you think will benefit you in your future studies or career path? This course completes your study of the foundations of accounting. After completing this course, what area of accounting are you interested in pursuing?

A friend who recently graduated from university is planning to form a partnership. He is planning to carry out his new business with utmost integrity. What reminders can you give your friend to ensure that he can select partners with the same business perspective?

We have talked about personal financial planning as well as the planning within a business.  As we move forward in this course, answer the following questions: What do you see as the challenges in a personal financial plan with respect to all the variables? What are the challenges of a business financial plan from a financial manager perspective? How are the two similar? Different?

How can an individual who is thinking of going into business evaluate the financial picture of the enterprise?

Who are entrepreneurs? What are the characteristics of a successful entrepreneur? Which of the following does NOT fit the description of entrepreneur? Group of answer choices a. An individual who thinks, reasons, and acts to convert ideas into commercial opportunities and to create value. b.  An individual who sees and seizes a commercial opportunity. c.  An individual who tends to be doggedly optimistic (perhaps even to a fault) d.  An individual who plans to obtain the physical, financial, and human resources needed for the venture to             succeed (ch1 slide) e. An individual who gives up at the first sign of difficulty and failure.

In your everyday consumer interactions, would you rather do business with a sole proprietorship or a corporation? Why?

What drives a person to establish their own company, and what are the benefits of doing so?

You as an accountant of Al Ghalbi company. In your company the are some trainees who have just graduated and have joined for OJT in your company. You are the supervisor for these trainees. Which is an important aspect of developing any theoretical structure? a. Hope of business b. Basic elements/terms c. Rules of business d. Economics of business