Small Business Idea

Small descent Idea

ACC 561
September 3, 2012
Dr. James Krause

Small Business Idea
Recently the government has ventingd funds for creating small crinklees. These funds would book any person who wants to start their own business who competency have not had all of the funds that they needed. In addition, to the release of funds a company would have to look to inspect what type of business organization they would like to use for ones uncomparable service or product. Consideration needs to be interpreted into account for profound, tax, accounting, and other implications when a business proprietor makes a decision about one of many types of business. Four types of business organizations are restore proprietorship, fusion, corporations, limited liability partnerships. Based on this information it will me decide which form of business would be best suited for my company.
Sole Proprietorship
According to Cheeseman (2010), sole proprietorship is a form a business in which the owner is actually the business and it is not a separate legal entity. There are some advantages and disadvantages to using this form of business. The advantage to going with the sole proprietorship is that there is no partnership agreement and the disadvantage is that personal assets are open to antiaircraft gun in legal cases (Ohio Government, 2012).




Financial avouchments
The main financial statement that would benefit a sole proprietorship is the statement of notes flow. Since, this statement shows where the cash came from and where it went during the period and how much the company has on hand is very important for the company (Kimmel, Weygandt, & Kieso, 2009). This allows the sole proprietor to have great cash management because it is significant for the survival of the business.
Consequences
Since, the sole proprietorship is educately linked to the various(prenominal) who started the business this means that any debt of losses the company endures is the direct responsibility of the owner. This means that any personal...If you want to get a full essay, order it on our website: Ordercustompaper.com



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