Explaining Basic Accounting Concepts and Business Structures ACT/537 January 9, 2012 Explaining Basic Accounting Concepts and Business Structures A solid understanding of basic accounting is arguably one of the most essential skills future businesses leaders require for success. The business world operates to make a profit, and in order to do so, managers must understand the numbers. Managers from marketing, production, management, or information systems should each understand fundamentals
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Legal Form of Business Paper Many different forms of business exist. Some of them are more common than others. Sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporate form are the seven forms of business that we are going to discuss in this paper. We are going to develop scenarios in which each of these forms of business would be the preferred form and justify why the corresponding business form would be most preferable
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The most basic of all business legal structures is the sole proprietorship. For new start-ups the choice of becoming a sole proprietorship is the simplest of all business forms but is it the best? I would talk about the pros and cons of a doing business as sole proprietorship. A sole proprietorship is a business of one without corporation or limited liability status. The individual represents the company legally and fully. Common proprietorship structures include part-time businesses, direct
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As the arbitrator, how do you settle this grievance? What factors from the case come into play in making your decision? When analyzing this particular case, I gathered information from both sides and added my own information to conclude my decision favors towards company. I came to this conclusion based on a few critical pieces of information presented from each side. Not all union employees are eligible for the new dental plan because they needed to have three months of active employment and
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and Hour Division within the U.S. Department of Labor. With this being the law of who is covered and who the employee may take FMLA Leave to care for shows that yes Tony may take leave for up to twelve weeks to care for his father. The law does not state that parent had to have sole custody or that they had to have a significant role in their child’s upbringing and life. 2. Explain whether the size of the business can have any effect on whether Tony is eligible for family leave under the
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legal form of business. There are several issues the investor is facing to begin a business such as little financial skills and no management skills and I will identify a few others. The two examples of the new technology ideas will be mentioned as requested by the spouse. A brief interpretation of the scenario issues will also be given. I will discuss the three business structures Sole Proprietorship, Partnership, and Corporation. The advantages and disadvantages of each business structure and
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Assignment 2, Family Related Issues Instructor Theresa Dike Law, Ethics, and Corporate Governance – LEG500 May 1, 2011 1. Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. The way that the Family and Medical Leave Act (FMLA) is written, it does not specify whether or not a biological parent participated in the upbringing of the child or not. The
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that parent? It does not matter if the parent had any thing to do with the child growing up or not, that person is still the parent. “The Family and Medical Leave Act (FMLA) were signed into law in 1993 as a means of addressing the changing needs of workers' family responsibilities. Under the law, anyone who works in a company that employs 50 or more people can take up to 12 weeks of medical leave per year without threat of losing his or her job. FMLA covers both pregnancy and ADOPTION, as
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simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner (subject to taxation specific to the business). All assets of the business are owned by the proprietor and all debts of the business are the proprietors'. This means that the owner has no lesser liability than if he was acting as individual instead of a business. It is a "sole" proprietorship
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Law 531/ Business Law Legal Forms of Business As an entrepreneur one of the most important decision to make, when starting a business is the legal form of the business. In making this decision many factors are taken into consideration, such as financial resource for business, government rules and regulation, and personal liability. In this paper a discussion regarding the different forms of business including scenarios of these form and explanation on why this corresponding business form is preferred
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