Business Structures Tasha Minnett FIN/571 September 29, 2015 Walter Corrigan Business Structures Opening a business requires a lot of thought and steps to take in making the business succeed. One of the first steps in opening a business is deciding what type of business structure will be best for the type of business that is being opened. There are five different types of business structures. Sole Proprietorship This type of business structure is owned solely by the owner and no one else
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Business Structure Advice March 31, 2014 Dear John Owner, Our consulting department received your request for advice and would be delighted to assist you on your business venture. It is obvious that you have several concerns and questions which we will address accordingly. We will provide detailed guidelines, outlining necessary steps to achieve success. Allow me to complement you on making the decision to become a business owner, on developing a business plan, and knowing when to seek advice
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Week 2: Business Structure Advice Holly Harris April 12, 2016 FIN/571 Instructor Jim Ciaramella Dear John Owner, Thank you for contacting me for help. I would be happy to provide some advice on how to form your business. I’m glad to hear you are developing a business plan. Writing a business plan really forces you to review every aspect of your business and its entirety. I know you’re not sure how you will be financed but if you ever plan to get a business loan a financial institution
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Basic Accounting Concepts & Business Structures GAAP or the “generally accepted accounting principles” are a set of standards that are accepted and practiced within the financial community. In order to fully understand the generally accepted accounting principles (GAAP) we must first look at the sources that the principles originated from. Historically, there are four organizations that have contributed to the development of the GAAP in the United States. They are the SEC (Securities and Exchange
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There are many facets to being an entrepreneur. Determining the business structure that best suits the needs of the business owner is a vital step. The type of business structure that a person employs may help to create a solid company, or may lead towards failure. To determine what type of business structure is needed, the potential entrepreneur must look at types of business structures available and decide on which one best suits the company. There are three basic types of businesses; sole
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Business Structures FIN 571 July 20, 2015 Business Structures When forming a business, there are three basic structures to identify and understand. Sole proprietorship, partnership, and corporation comprise the basic structures. The partnership can be a general partnership or a limited liability partnership and the corporation can be three types: general, subchapter S (S corporation), and limited liability company (LLC). For a business venture, there are many questions to contemplate
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Business Structures Erica Stubbs FIN/571 April 4, 2016 Gurprett Atwal Business Structure There are three types of corporations: sole proprietorship, partnership, and corporation. Each one of these holds a significant background, however, “selecting the right type of company or corporation for your new business helps maximize your chances of financial and operational success” (Business Entity Types, 2016). A Sole proprietorship is the most inexpensive way to start a business with a group
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Business Structures The purpose of this paper is to identify the different business structures and explain the advantages and disadvantages of each. Each business structure has their own legal and tax implications. It is important to understand the variances of each structure to operate a business. The different structures are the following: general corporation, S corporation, limited liability corporation, sole proprietorship, and partnership. Corporation Corporations are the most complex
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Business Structures By: Jamie Matheny University of Phoenix FIN/571 Instructor: Paul Stevens April 4, 2016 Business Structures The following will discuss the different business structures a person could create when deciding to start a business. Sole proprietorship, partnership or a corporation are the structures described below. This paper will cover some of the benefits and disadvantages each structure could pose and in what capacity one option may be more advantageous than another. Sole
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Introduction Amazon is a powerhouse business that has grown to an outrageous size very quickly. In just twenty years, Amazon.com has revolutionized the Internet world by banishing geography, and allowing everyone with an Internet connection and a computer to browse a limitless universe of goods all in the comfort of their homes. Our team has evaluated and analyzed this company, and in doing so, have gone through theoretical fluctuations in its financial statements. For example, what would happen
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