ACC 548 Week 5 Learning Team Assignment Reporting Requirements M to purchase http://allmysolution.com/ACC-548_c119.htm Product Description One issue in accounting is the qualifications of an accountant when working for a client. It is expected that a CPA will not engage in an assignment without proper qualifications. Your firm has the ability to bid on two projects: the first is engagement and examination work—not consulting or audit—for a small county hospital. The second is work for a private, not-for-profit nursing
Access the Evaluating Business Performance: Small Business Case Studies video in your online course. The video focuses on profitability, liquidity, efficiency, and stability of business. Given what you have learned about ratio analysis, choose one of the businesses from the video (Rose Chong Costumes, Anro’s Floor Maintenance, or John Osborne’s Gym and Squash Center) and identify two ratios that would be helpful for the owner of the business to monitor. Be sure to explain what the ratio would tell the owner, and how it can be improved for the business. Focus of the Final
Business, Entities, Laws and Regulations Paper BUS/415 – Business Law Tiffany January 30, 2012 Restaurant/Bar The best business entity in the scenario for Lou and Jose who plans to open a sports bar and restaurant with limited monies to begin a business with Miriam, a wealthy investor who has the capital to invest in the sports bar but does not have any time to participate in the business and wants a percentage of ownership for providing the capital would be a limited and general partnership. A limited partnership is one(s) who invest capital but do not participate in management and are not personally liable for partnership debts beyond their capital contributions (Cheesman 2010). The Revised Uniform Limited Partnership Act (RULPA)
The business is not required to file taxes, as the business and owner are considered one. Longevity or continuity: In a sole proprietorship should the owner die the business will typically lose their value. The owner can leave their business to an heir in their will, however there are many tax problems that can arise if the estate is not planned correctly. Control: In a sole proprietorship the owner is the person who has registered the business. This individual is in charge of managing the business, and has all control and makes all decision concerning the business.
Strategic planning is crucial at this stage and there are tools available to help any business perform the analysis needed to succeed. Kudler Fine Foods is an upscale food store specializing in foods and services that appeal to a niche market; gourmet chefs and gourmet chefs in training. The firm had good initial success with its first two stores, but its third store is suffering with lower than expected sales. The firm wishes to continue expansion and increase profitable growth. Before moving forward the company’s owner, Kathy Kudler, needs to understand her company fully and have accurate knowledge about the firm’s internal and external environment.
Ruth Chris had the following issues on hand; First, Dan Hannah had to decide which countries offer the greatest growth potential with the least risk. International businesses regularly offered opportunities for Ruth Chris but with strict selection criteria which in fact eliminated many of these business prospects. Secondly, the management team must agree on a standard development model and the decision of which mode of entry to use. Opportunities were evident for joint ventures or company owned stores in certain markets. Lastly but not least, Ruth Chris challenge was selecting the appropriate development model in conjunction with the management team but required additional information criteria in order to guarantee the future success of the organization.
Small business will need to think outside of the normal circumstances in marketing their product. For example large corporations offer BOGO but as a small business I can’t afford to do that so I offer a club membership stating after every 6 orders of $10 or more you will receive the next order of $10 or less on us. Every successful business must have a strategic plan and must implement it fiercely to be successful. It is important that a business monitor their strategic plan to ensure the plan is delivering everything outlined in the plan and if not then changes need to be made immediately. The scorecard will monitor the growth in each area to show what is working well and where changes need to be made.
Explain why your answers to question 4 above do or don't make you a good fit for entrepreneurship. (3-5 sentences. 2.5 points) In the beginning of starting your own business you may not make enough to pay all your bills. If you don't have enough money you may have to work for someone else while trying to run your business. Working somewhere else or working two or three jobs, there might not be enough effort being put into your own ideas or business.
All partners share in the decision making for the business. A partnership agreement is usually established in order to delegate the responsibilities of each partner such as who will make decisions for the business, how will profits and losses be shared, how much money and time each partner will contribute and even a plan in the event a partner chooses to terminate their share of the business. The main advantage of this entity is that it allows more expertise as well as financial support in order to make a business grow. The main disadvantage is that just like the sole proprietorship, the personal assets of each partner will not be spared if the company faces financial
Legal Forms of Business Law/531 March 26, 2012 Judith C. Haggerty, J.D./ Esquire Legal Forms of Business The “American Dream” is composed of several elements. The elements will vary from individual to individual. Usually, the elements are own a piece of land, financial security and become a successful business owner. In order to complete the American dream it will be important to understand the various types of business structures that exist. Not every type of business will be ran the same, and depending on the type of business the individual is planning to open will also have an impact as to allowing partners, sole proprietorship, S corporation, franchise, and corporate form.