ACC 561 Week 2 Indivudal Assignment Small Business Idea Paper

Topics: Business, Types of companies, Corporation Pages: 4 (517 words) Published: November 2, 2014

In this file ACC 561 Week 2 Indivudal Assignment Small Business Idea Paper there is a review of the following parts: 1. Small Business Idea Paper 2. Sole Proprietorship 3. Partnership 4. C Corporation 5. S Corporation 6. The Shoppe Around the Corner 7. Conclusion Business - Accounting

Imagine the government has released funds for creating small businesses. You are interested in establishing a small business, and you must decide which of the four forms of business organization would best suit your unique product or service. Consider legal, tax, accounting, and other implications when selecting from the four business types.

Write a paper of no more than 1,250 words discussing your small-business idea. Include the following:


·  The advantages and disadvantages of the four different forms of business organization, which include the following:

o  Sole proprietorship

o  Partnership

o  C corporation

o  S corporation

·  The different types of financial statements associated with each form of business organization

·  The following consequences associated with each form of business organization:

o  Tax implications

o  Legal implications

o  Accounting implications, such as SOX and FASB

·  An explanation of the unique product or service your small business provides

·  Your choice of business organization form for your new business

·  Your rationale for choosing this form of business organization Format your paper consistent with APA guidelines.  

Preparing for college is so much different than actually going through it; hopefully this article has provided you with plenty of useful advice to help you through it. Stay focused and determined, no matter what comes your way in college and in the end the effort will be well worth it!

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