Businesses: they use it to set goals‚ to measure progress toward those goals‚ and to make adjustments when needed. 3- Taxing authorities: Local state and federal governments> income tax is figured using accounting information. Sales tax depends upon company sales. 4- Investors: they often provide the money to get a business going. To decide whether to invest‚ a person predicts the amount of income to be earned on the investment. 3. In details ‚explain the difference between Financial Accounting
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divided into bank overdraft‚ hire purchase‚ trade credit‚ leasing etc Limited liability companies are the largest form of business enterprise. The larger the business‚ the more they depend on investment from individuals. Finance is supplied by individuals buying shares of company. Limited companies depend mostly on external sources of finance. External long term sources of funds SHARE CAPITAL: for a limited company share capital is likely to be the most important source of funds. The sale
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University of Phoenix Material Business Forms Worksheet There are seven forms of business: sole proprietorship‚ partnership‚ limited liability partnership‚ limited liability company (including the single member LLC)‚ S Corporation‚ Franchise‚ and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally necessary to file
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of useful tips for starting a business: First‚ you need to be clear about why you want to start a business. Determine the type of business and business structure you want to start (sole proprietorship‚ partnership‚ corporation‚ or (LLC) Limited Liability Company). Create a business plan that covers what you offer (type of product or service)‚ the target audience‚ and how much you will charge. Your target audience is the core of your business. Before you start a business‚ conduct a market survey
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when one chooses to start a business is knowing the type of legal organizations to select because the decision affects many aspects of the business. What can be affected are the amount and type of paperwork required‚ tax payments‚ possible personal liability one may face‚ the ability to borrow money‚ legal obligations‚ and the business laws that have to be followed. Financial Accounting is a course that introduces basic concepts and methods of corporate financial statements that are most commonly used
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FUNDAMENTALS OF Corporate Finance Jonathan Berk Stanford University Peter DeMarzo Stanford University Jarrad Harford University of Washington ISBN 0-558-65200-X Fundamentals of Corporate Finance‚ by Jonathan Berk‚ Peter DeMarzo‚ and Jarrad Harford. Published by Prentice Hall. Copyright © 2009 by Pearson Education‚ Inc. Editor in Chief: Donna Battista Sr. Development Editor: Rebecca Ferris Market Development Manager: Dona Kenly Assistant Editors: Sara Holliday‚ Kerri McQueen Managing
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brother out of the company and renamed it to the ‘Domino’s’ that we know today. Domino’s is now one of the largest pizza franchises in the world with 9‚350 stores in over 70 countries. It employs 175‚000 people worldwide and delivers over a million pizzas per day. Tom developed his company using franchising‚ allowing people to set up their own Domino’s pizza shops‚ in doing so he eventually made over 1 billion dollars before retiring in 1998. Domino’s is a LLC (limited liability company)‚ merging the
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is being formed as a private company offering services to student pilots. Southern Indiana Aviation will offer well-maintained aircraft for individual rental and for flight training. Southern Indiana Aviation will also provide primary and advanced flight instruction through the use of independent flight instructors possessing corporate backgrounds. The Company Southern Indiana Aviation‚ LLC has been created and legally organized as an Indiana Limited Liability Company based in Rockport‚ Indiana
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are not necessary. Lesson 1 (3.0 points) 1. What is liability‚ and what does it mean to have personal liability for a company? (0.5 points) Liability is the authorized word for being alleged responsible as well as compelled to complete a commitment. If you attain a personal liability for a company‚ this means that you can be held personally responsible for your company; including financial obligation as well as illegal actions your company may perform. 2. What are taxes‚ and what is the IRS
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Chapter 1 Case The McGee Cake Company Q1: What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC? Since the company’s inception‚ the McGee’s have operated The McGee Cake Company as a sole proprietorship which has provided them with several key advantages. The first among these advantages is the relative ease with which the McGee’s likely experienced in starting their business where essentially they were only required
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