Muna, Mulemba and Mutinta are lawyers and want to start a business in their field of study. Explain the process, the fees and the document that they need to found their organisation and further describe the contents of the document
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Muna, Mulemba and Mutinta are lawyers and want to start a business in their field of study. Explain the process, the fees and the document that they need to found their organisation and further describe the contents of the document
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- Based on your understanding on different forms of business organizations, which form of business would you organize once you want to start a business? Explain why did you choose it among others.Use the internet to research one manufacturing, one retail (or merchandising), and one service business. For each business, describe the following:Your answer:A. the primary purpose of the entityB. the types of activities that accountants would record (hint: what is the source of the business’ funding, and what costs might the business have?)C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making processVirendra decides to open a Sub Way outlet in his locality for which he will need certain assets and liabilities. But he want to know what asset and liabilities exactly means? You being a Commerce graduate, discuss and define assets and liabilities, their composition with five examples for assets and five examples for liabilities.
- Use the internet to research one manufacturing, one retail (or merchandising), and one service business. For each business, describe the following: A. the primary purpose of the entity B. the types of activities that accountants would record (hint: what is the source of the business funding, and what costs might the business have?) C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making processwrite a analysis on the case study for Prye Byll and Runner Chartered accountantsYou are an accountant with a client that wants to set up a new company. She has come to you to ask what type of company to form. She is trying to decide between a corporation, an LLC, or a sole proprietorship. Taking into account the ability to raise capital, liability protections, taxation issues, ability to transfer ownership, and any other aspects you can discover discuss the pros and cons of the various entity forms. You can use your textbook but you should consult other courses as well. (It depends on what kind of company your client is opening and what they want to accomplish. The best you can do is give the client some information to think about. This post should cover the general aspects of the various type of business entities.)
- Please answer me in typing, avoid images and handwriting. 2.In this question, each group member is requested to briefly describe how finance can play a role in their future career development while briefly describing the nature of their work position.Explain the relevance of law to accountants in their capacity as business owners. Include any ethical factors that might need to be considered.You have just started your first job as a trainee lawyer. Your supervisor tells you that the firm is considering an investment in a legal tech’ software licence to help make savings in the cost of case management. She asks you to think about the IRR such an investment might produce. QUESTION 4 What does IRR stand for? Explain what this means in practical terms and why it is useful to any firm. How might the firm use IRR to make a decision about the possible investment?
- Advanced Accounting requires many rules and regulations. The latter come from many sources. In your Journal this week you will research two rules or regulations that pertain to Advanced Accounting topics and submit them to your Unit 1 Journal. For each of the rules or regulations, answer the following questions. What is the name of the rule or regulation? What agency or government created the rule or regulation? Does any agency or government have the power to enforce the rule or regulation? If so how? If not, does this hinder the enforcement of the rule or regulation?You are employed by a business consulting firm as an information systems specialist. You havejust begun an assignment with a startup company and are discussing with the owner her need for anaccounting system. How would you respond to the following questions from the owner?a. What is the meaning of the term accounting system?b. What is the purpose of an accounting system and what are its basic functions?c. Who is responsible for designing and implementing an accounting system?How can Accountingfly use its recent acquisition of Going Concern as a recruiting tool for experienced CPAs who desire a different career track? Provide some examples to support your answer.