...Overend (1896) , described for the first time that a gentle tap on the forehead evoked a reflex reponse from the orbicularis oculi muscles: the BR (as quoted by Ellrich, 2000) (23).The blink reflex (BR) is a protective, physiological trigemino-facial brainstem reflex aiming toat facilitate eyelid closure as a response to a potentially harmful and threatening stimulus. It consists of bilateral eyelid closure in response to a stimulus applied in the area innervated by the trigeminal nerve or directly on a branch of the trigeminal nerve. In routine clinical practice the BR can be elicited when the skin innervated by the supraorbital nerve is stimulated and a compound muscle action potential from the surface of the orbicularis oculi muscle is recorded with the use of surface electromyographic (EMG) electrodes. The reflex can be elicited by electrical, mechanical or laser stimulation of the skin overlying the trigeminal nerve branches at the supraorbital, infraorbital, or mental foramina (Figure 15). The afferent portion of BR is supplied by branches of the trigeminal nerve, and the efferent motor volleys are conducted by branches of the facial nerve (Figure 16). The trigeminal afferent fibres project through the trigeminal ganglion to the trigeminal brainstem complex, which represent the trigeminal main sensory nucleus and the spinal tract nucleus (45-48). Supra-segmental influences on the BR are less well understood, but evidence from studies in patients with movement disorders...
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...Abstract In addressing a plan for the operations of a sole proprietorship business in a service or manufacturing industry, I will discuss the plan of starting a Business Consulting Agency to provide assistance to businesses. Organization & Communication The relevant issues associated with opening a consulting business are building cliental; establishing lasting business relationships with business owners and providing quality service when needed. The primary services that are offered include market feasibility studies, business plans, operational reviews, re-engineering, strategic planning, seminars and workshops. We strive to provide our clients with business services that help them become more successful and to become a leader in consulting to small businesses. In order to keep our overhead costs down, Business Consulting Agency will be located in the home of Monica Lathan which is equipped with a computer, fax machine and photocopier. Business Consulting Agency is a sole proprietorship, owned by Monica Lathan. As the business grows the firm may develop strategic alliances with other companies. Business Consulting Agency will initially only have one employee, Monica Lathan; additional staff support will be obtained on a subcontract basis and secretarial service will be contracted out as required. Business Consulting Agency is in the process of obtaining a bank loan for $35,000 to finance the start up of the business. During the first year of operation, our key...
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...Danisha Williams ACC 537 Paper 1 October 29, 2011 Accounting is very important part of business aspect. This paper will discuss four different topics of accounting: generally accepted accounting practices, effective accounting information, the difference between accrual based accounting and cash basis accounting, and finally the different types of business structure and defining each structure. The topics above will provide accountants with the knowledge that is need in order to be successful. Topic 1 Accountants can use many different accounting principles but there are only a few that are accepted by law known as the generally accepted accounting practices. According to Wikipedia the generally accepted accounting practices are defined as“ accounting rules used to prepare, present and report financial statements for wide variety of entities, including publicly-traded and privately-held companies.” The principles are set by Financial Accounting Standard Board(FASB), Interpretations, and staff positions; APB Opinions and AICPA Accounting Research Bulletins. FASB standard, Interpretations and Staff position. The GAAP are guidelines that all accountants must follow when preparing financial statements for different organization and companies. Each Organization listed above creates the GAAP hierarchy each one is important to the accounting principles for the reason it identifies the sources on the way that financial statements should be prepared. Topic 2 In order to comply...
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...There are three legal forms of business: Sole Proprietorship, Partnership, and Corporation. The inventor scenario sounds like the business would start as a Sole Proprietorship since there are limited finances and the inventor’s net worth is low. However, with the new technology being introduced this business could quickly grow and eventually turn into a Partnership or possibly Corporation. A Sole Proprietorship is the easiest business to start with little overhead cost. All decisions are made by the proprietor, so no worries with disagreements since the proprietor is the boss and getting started doe not cost a lot. The downfall to being a Sole Proprietor is you are an extension of your business so if things start to fall apart your personal assets can be seized. The proprietor has to make sure they have taken all the necessary steps in education and training to make sure the business doesn’t look weak and not well managed. A Partnership is a great way to start a business with a friend or family member and luckily there is no set limit on the amount of partners one business can have so a whole class could start an amazing business. The important thing to remember about a partnership is that everyone, no matter the number is equally responsible for the debt created to run the business. Very different from the Sole Proprietorship where its one for all and the Partnership is all for one. The disadvantages of a Partnership include possibly not being able to mutually agree,...
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...entrepreneur can choose from or in other words can be a part of one. Starting with proprietorship or sole proprietorship is a business operation in which one person or one entrepreneur owns or holds the business. It is one of the simple business operations because it gives full control of the business and it is simple to get started with and set up. This is perfect for small business that is just starting up, small stores like retail stores, hardware shop, retail shops , barber shops, repair shops or other small business. You own the business and you’re your own boss. Moving on to partnerships these maybe the same business mentioned above or any other business but this time you are with a partner this is not all bad, partners can bring better change, they may have better skills and quality to make a business grow and plus it also helps to share the cost but you will also have to share the profits but all that burden on one entrepreneur can be to much and he or she may need help. The last business organization is cooperation this is when stocks get involved the owner ship of the company is in stocks so if you are a investor in a cooperation the company will give you shares of stocks and these are what the company is worth this is also proof that you have some owner ship of the company. The easy things about stock are that are easy to sell unlike partnerships or sole proprietorship, a investors can by stock and investing small amounts of money most cooperation’s have...
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...beneficial to being able to balance your work and personal life with family and friends; all while you are challenging yourself by the new opportunities that will constantly be presented and the creativity that goes along with it. More importantly establishing what type of business is the most important; sole proprietorship, partnership and or a corporation. A sole proprietorship, often being identified as one-person operation, is the most common business structure throughout the world. With a sole proprietorship you have complete control of your organization, making all decisions from your target market, employees, location, and so on. It is simple and easy to establish this type of business structure and the start-up cost are low as well. There are several disadvantage of this type of business structure. Personal liability is a major disadvantage because it is not separate from our business; meaning creditors can sue you directly. Another issue is the ability to raise money to start your business. Most lenders are fearful to financing sole proprietors simple because if the business fails no money will be collected. A partnership is that of two or more persons. Similar to sole proprietorship, a partnership has a low start-up cost, and a simple agreement between partners that needs to be signed. Partnership provides a scope for association of persons with diverse skills and expertise. Partners having expertise and skills in different functional areas of business can manage the...
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...A business undertaking is an organisation which is engaged in some industrial or commercial activity. It represents an institutional arrangement for carrying on any kind of business activity. It may be owned and controlled by a single individual or by a group of individuals who have entered into a formal or informal agreement to jointly conduct the business. Every business undertaking is a separate and distinct business unit. It has its own identity and separate ownership. It can be distinguished from other undertakings on the basis of its ownership, management and control. According to Wheeler, a business undertaking is a concern, company or enterprise which buys and sells, is owned by one person or a group of persons and is managed under a specific set of operating policies". Thus, a business undertaking may be defined as an organisation operating under separate ownership, management and control and carrying on any business activity with independent risk- bearing. All business undertakings are directly or indirectly engaged in the transfer or exchange of goods and services for value. They deal in goods and services on a regular basis. Their main motive is to earn profits and they are exposed to various types of risks. Characteristics of a Business Undertaking The basic features of a business undertaking are as follows: 1. Separate identity: Every business undertaking has a separate identity. It has a distinct name and separate existence. Its assets and liabilities are...
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...These are sole proprietor, partnership and company. Option 1: Sole proprietor A sole propriety is an option for the start-up whereby one individual of the pair would control and manage the business. For example, David starts up, controls and manages the business and Christina is merely employed by David. The registration requirements of a sole proprietor would include David as the owner applying for an Australian Business Number and for a Tax File Number (Birt et al. 2012). David will need a TFN as and income he earns as a sole trader will be treated as his income and taxed accordingly. David will have sole responsibility for paying tax on the business’ income. David will have many options for the way he chooses to report the entity’s financial position. This may include using an accounting package such as MYOB to determine profit. A sole-trader structure is commonly used for hairdressers and tradesmen (Birt et al. 2012). Advantages: * The company start-up and wind-down is fast and is not costly. * The paperwork required to start-up is minimal (Birt et al. 2012). * David will have complete autonomy over the running of his business. * David will not be bound by accounting standards and legal regulations. * David can use accounting packages to report financial position of company- easier to use. * David does not pay a separate income tax for his business (Birt et al. 2012). Disadvantages: * David as the owner will have full and sole liability...
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...“Executive Summary” Little Bumble Bees Daycare facility will operate as sole proprietorship and is located on the corner of North six street in Hopewell, Va. Our daycare facility is a full service child facility that offers 24 hours/ 7days a week care, with the exception of holidays. We offer services for children 3 months to 12 years of age. The Little Bumble Bees Daycare Facility will be focusing on the middle to upper class market. This group of families has both parents working, not allowing them time to raise their child during the day. This group has the money for child care, and is willing to spend a little extra to get a higher level of care. Our staff have specialize training in child care providing services, first aid, and CPR. Little Bumble Bees Daycare Facility has innovative learning systems and facility has small classes for pre-K students, for more one on one learning in the class. Employees are expected to wear scrub type uniforms while they are on the clock; street wear is not permitted while on the clock. There will be five classrooms rooms in the facility with chairs, desk, blackboard, and etc. Our mission is to provide a safe and fun learning environment for our children. We take pride in our center and focus on meeting each individual child and family needs, while providing quality, safety, and reliable child care. The market that we want to target is one specific customer group, the middle to upper class, two income professional families. This...
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...Basic Accounting Concepts and Business Structures Basic Accounting Concepts and Business Structures The accounting environment is constantly changing to improve so decision-making in the business world will thrive. To be successful in a business, understanding the fundamental concepts are essential to make informed decisions. The federal government formed the SEC to standardize financial information and to keep the financial environment regulated. In the following sections the basic concepts of accounting will be addressed along with the three business structures. Generally Accepted Accounting Principles The framework of guidelines on standards and rules for financial accounting are referred to as the generally accepted accounting principles (GAAP). The American Institute of Certified Public Accountants (AICPA) issued the hierarchy of generally accepted accounting principles as an auditing standard. It has four categories ranging from most authoritative, Category A to least authoritative, Category D. The major sources are FASB Standards, Interpretations, and Staff Positions, along with the ABP Opinions, and AICPA Accounting Research Bulletins. The hierarchy is important because there are times when these sources do not provide the guidance needed by companies. When a company is looking for guidance and there is conflicting information, the company should always refer to the pronouncements in the higher...
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...An Introduction to Accounting The biggest part of a business is the role of financial accounting. It has individuals, businesses and nonprofit organizations when recording the financial transactions, preparing reports that reflects performance and current financial positions, and when making important decisions about users. There are different types of business structures, such as proprietorship and partnership. a proprietor is the sole owner and a partnership is having multiple owners. Proprietors are solely responsible for success and failure of the company, while partnership is distributed amongst them. There is also a corporation which is owned by stockholders. Each is different but still follows the same set of guidelines set by the Financial Accounting Standards Board (FASB). The FASB is an organization that created the outline of available sources for the generally accepted accounting principles (GGAP) (Keiso et al., 2007, p. 12). The outline is based on a hierarchy, determining how accountants would proceed in recording and preparing the company’s financial statements. The top of the hierarchy has the FASB’s statements and The American Institute of Certified Public Accountants’ (AICPA) opinions. The bottom consists of the FASB’s questions and answers and interpretations from AICPA. Top sources come first then down the hierarchy if there are no pronouncements at the top level (Keiso et al., 2007, p. 13). Accountants are a vital part of companies since they provide...
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...New York. During 2009, Alex and his wife, Aubrey, used their personal jet to travel to their lumber farm in Oregon 15 times a year. The lumber farm is operated in a business like fashion and is reported as a sole proprietorship on their Federal Form 1040. Using their personal jet, they traveled to seven computer symposia, to their Bora Bora property twice and stayed there for several weeks each time. They also traveled to Aspen, Colorado 8 times during the winter months to go skiing. The total annual costs of operating the jet, including depreciation, are $500,000. Issue: Can Alex and Aubrey deduct the $500,000 annual costs of operating the jet as a business expenses? Authorities: IRC Sec. 162 (a) (2); IRC Sec. 274 (d); IRC Sec. 262 (a) Rev. Proc. 2003-76, 2003-2 CB 924, 10/15/2003 Stanley M. Kurzet, et ux. v. Commissioner, TC Memo 1997-54 IR 296, 6/12/59. Conclusion: Alex and Aubrey should be denied business deductions for their jet use $500,000: expense for jet travel to skiing and personal residence Bora Bora property and to non-business place Aspen, Colorado weren’t ordinary and necessary; But, taxpayers could deduct estimated travel expenses they would have incurred traveling from New York City to lumber farm, which taxpayer is reported as a sole proprietorship on the Federal Form 1040 and to various computer symposia. Analysis: In general, the cost of travel is deductible if the primary purpose of the trip is business IRC Sec. 162 (a) (2). However...
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...Explaining Basic Accounting Concepts and Business University of Phoenix Introduction Accounting has become an indispensible part of today’s economy. It is being used to keep a track of company’s profit or loss, assets, liabilities and owner’s equity. Financial accounting, on the other hand, is to prepare financial reports to external parties such as: investors, creditors, and governmental agencies. However, prior to reporting any information to external users, financial accounting must be completed according to Generally Accepted Accounting Principles guidelines. Identify the hierarchy of sources for generally accepted accounting principles. Generally accepted accounting principles, or GAAP for short, are the accounting rules used to prepare and standardize the reporting of financial statements, such as balance sheets, income statements and cash flow statements, for publicly traded companies and many private companies in the United States (Paul, 2008). The main sources of GAAP are the United States Securities and Exchange Commission (SEC), American Institute of Certified Public Accountants (AICPA), Financial Accounting Standard Board (FASB), Financial Accounting Standards Board (FASB), and the Governmental Accounting Standards Board (GASB). The SEC is a structure for setting accounting standards. The ACIPA created the Accounting Principle Board and serves as an organization to provide CPA services the best professional resources, guidance, and information....
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...economic struggle the Unites States is in would be challenging. I have produced a product that is cheaper than the competition and it is certain to benefit the homemaker in all of us. It is a necessity to choose the way I am going to go to manufacturing and distributing my products. For my product to meet my ultimate goal it has to hit widespread market, Maximize profits and lower Liability. I will certainly not be success, if I do not explore my opportunities. There are three main categories that businesses are broken down into from the legal position they are; Sole Proprietorship, Partnership and Corporation. One of the supreme mutual varieties of the new developing trivial business is Sole Proprietorship. Each aspect of my business and making of all main judgments is in my control. Each and every one of my proceeds gets approached by myself or to support production and allocate my products. In all actuality a Sole Proprietor would create a simpler way to make the great conclusions and for my labor I would acquire all the recognition. Yet, you would need a low financial plan to get everything to proceed; with this business...
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...his credit. Generally, a higher minimum balance as compared to Savings Account is required to be maintained in Current account. As per RBI directive banks are not allowed to pay any interest on the balances maintained in Current accounts. However, in case of death of the account holder his legal heirs are paid interest at the rates applicable to Savings bank deposit from the date of death till the date of settlement. Because of the large number of transactions in the account and volatile nature of balances maintained, banks usually levy certain service charges for operating a Current account. Current Account can be opened by: • An individual who has attained majority. • Two or more individuals in their joint names. • Sole proprietorship concerns. • Partnership concerns. • Hindu Undivided Family (HUF). • Limited Companies. • Clubs, Societies. • Trusts, Executors and Administrators. • Others - Govt. and semi Govt. bodies, local authorities etc. Documents Required for Opening a Current Account Following documents are required in case of individuals • Two passport size photographs • Proof of residence i.e. Passport/driving license/Gas / Telephone / Electricity Bill/ Ration card/voters...
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