Friday, December 27, 2019

Small Business Essays - 1489 Words

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses. The first step to starting a business is to create a business plan. A business plan is a document that outlines the overall strategies of a new venture and how those strategies will be implemented (Ebert †¦show more content†¦However, the business owner can also attempt to operate his/her business by bootstrapping, which refers to the operation of an entity by using limited sources of capital (Gregory, n.d.). In addition, the financial factors should also include financial planning. Financial planning normally refers to the cash flow and income statement, balance sheet and breakeven analyses. Therefore, there are three major sections to an ideal business plan that are the organizational goals, the sales forecasts, and the financial factors. After the creation of a business plan, the next step to operating a business is the selection of an appropriate business structure. Different legal forms of business ownerships affect different managerial and financial factors from the business names to the tax obligations (Gregory, n.d.). The most common forms are sole proprietorship, partnership, cooperatives, and corporations. There are different types of corporations in the business world, but the two most general corporation types are S Corporation and Limited Liability Company (LLC) (Ferrell et al., 2013). The sole proprietorship is the easiest and most basic form of business ownership. It is owned and run by one individual, which is the proprietor. The individual is entitled to all profits and is responsible for all the business’sShow MoreRelatedEssay On Small Business1382 Words   |  6 PagesServiced Office Spaces Benefit Small Businesses Serviced offices are becoming more and more attractive to small business owners especially those operating in U.S main cities such as New York, Kansas, Los Angeles, Miami and Las Vegas among many others. One can easily access prestigious rental serviced office spaces like the ones we offer in the heart of Midtown Manhattan. Furthermore, serviced office spaces located in trendy and upmarket areas provide start-ups and small companies the chance to raiseRead MoreBenefits Of A Small Business2005 Words   |  9 PagesI. Executive Summary In order to finance future expansion or get past a temporary business slow down (particularly in seasonal business) it is necessary to raise working capital and that involves determining which method of financing is best; debt or equity. II. Business Challenge One of the main challenges businesses face when trying to grow is how to raise the necessary working capital to achieve the necessary growth, whether for additional employees, inventory or plant expansion, technologyRead MoreEntrepreneurs And Small Business Owners1893 Words   |  8 Pagesand small business owners within academia, and how they can be defined and differentiated. This paper will explore how small business owners and entrepreneurs are divergent, through the similarities and differences between their ventures, characteristics and motivations. This essay will examine academic text to express these differences and show what characteristics create an entrepreneur which has the skills and power to develop a growth firm. While attempting to differentiate small business ownersRead MoreThe Dummies Guide For A Small Business2645 Words   |  11 PagesResolutions 11 Possible Solutions 11 Longitude and Latitude 13 Scope 13 Conclusion 13 â€Æ' Abstract The purpose of his proposal is to provide inquiry and identify the best way to implement fundamental plans to individuals who wish to build and run a small business in addition to the lack of information they may bear on the importance and sustainability of protecting their networks and data against cyber-attacks. Figure 1: Map Display of international cyber-attacks. â€Æ' Introduction In recent years, CybercrimeRead MoreSmall Business2016 Words   |  9 PagesChapter Seven Aida Moua Small Businesses and Entrepreneurship: Economic Rocket Fuel Review Questions 1. Review the benefits an entrepreneur might seek in starting a new business. Which benefits are most appealing to you? Why? Some benefits that are most appealing to me is having greater financial success, independence, flexibility, and challenge because with all of them combined, it’s beneficial to me and can help me gain more money easier. 2. Do you recognize any of the entrepreneurial personalityRead MoreBuilding A Small Business At An Affordable Cost1218 Words   |  5 Pagesglobal businesses are: †¢ The opportunity to operate a small business at an affordable cost. For an individual to run a small business, the shared office space is beneficial because of the low overhead cost that divides costs among other small business owners. In Canada, the concept of shared office space is popular. According to the Canada Innovation, Science and Economic Development there are eleven companies registered and doing business in the capacity of SOS. The two largest firms in CanadaRead MoreSmall Business Technology By Bill Simms917 Words   |  4 PagesSmall Business Technology It was an ordinary Thursday evening in suburban Richmond, Virginia. 7PM. Bill Simms makes a right turn on to the expressway ramp in a bid to make it on time to meet his wife for his daughter’s ballet recital. He was happy that his new painting business was beginning to thrive. After being laid off, it came as a big relief that private home and small business clients were starting to find him. Though he always had a general affinity for painting, owning a painting companyRead MoreWays to Establish a Small Business Essay1182 Words   |  5 Pagesthink that the salary is small and they should deserve more, no wonder there are many people work in places that are very contrast with their study in the past. Nowadays there are many independent businesses running both online and offline such as online shops, restaurant, saloon, etc. Some may think that it is just a part-time job to have an extra salary, but the truth is, we can get a large amount of incomes if we have a good man agement skill. Establishing a small business can be easy or hard dependingRead MoreBusiness Strategy Of Small Business1321 Words   |  6 PagesIntroduction Small business can be kept up by individual or accessories by putting their shares in an association. The capital for little endeavors is not high to accomplish wide edges in the business segment. At the point when appeared differently in relation to medium scale and significant scale business financing, little scale business needs to oblige its business operations inside the limited measure of capital. Proprietor of little ventures conceives that it s difficult to manage regular operationsRead MoreEssay on Small Business1238 Words   |  5 PagesSmall Business 2 In accessing the Equal Employment Opportunity Office (EEOC) website, I found it very hard to find a clear and concise reason as to why small businesses were treated differently than the larger businesses and why the law would differentiate between them. These smaller organizations are sometimes treated differently by the EEOC because they lack the resources that most large companies possess. Most small businesses cant afford to hire the best qualified people that

Thursday, December 19, 2019

The Interconnectedness Of Cultural Anthropology And Folk...

The chief concern of this paper is to explore the interconnectedness of cultural anthropology and folk literature. There are many essays that have already shown the interrelationship between folklore and anthropology1. Both these umbrella terms have many things in common but when it comes to folk literature and cultural anthropology, some distinctions become apparent. To say, hence, this paper is different in a sense that instead of dealing with the broad areas of folklore and anthropology, it looks at their branches and explores interconnectedness between them. Before moving further, one needs to understand the area of folklore and folk literature. American Folklore Society (AFS) defines folklore as â€Å"the traditional art, literature, knowledge, and practice that is disseminated largely through oral communication and behavioral example†. It clearly hints that folklore is a broad term which includes all the types of expressions whether oral, written, visual, or performative . This leads to an inference that folk literature is one of the branches of folklore which deals with verbal and written expressions. Similarly, anthropology is a jacket term which means a study of humanity including the prehistoric to contemporary, whereas the cultural anthropology is one of its four branches which aims to understand and define why a certain group behaves differently from the other group. These clarifications lead to another inference that though both anthropology and folklore study humanShow MoreRelatedOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagescapitalist, colonial, and fascist. Particularly revealing are Spodek’s discussions of the influence of prominent urban planners and architects— including Le Corbusier and the Chicago School—urban preservation and the city as the locus of global cultural development, and the ways in which slums and shanty towns have morphed into long-term homes and viable communities for perhaps a majority of urban dwellers worldwide in the last half of the twentieth century. Broadly conceived and remarkably comprehensive

Wednesday, December 11, 2019

Strategic Management Accounting in Enterprises

Question: Discuss about the Strategic Management Accounting in Enterprises. Answer: Introduction This report is based on analysis and making conclusion of conceptual framework of accounting or financial reporting framework. This analysis is undertaken while comparing and contrasting financial statements of two companies i.e. Elders limited and Qantas limited. In this report, both companies have been analyzed on same ground of financial reporting and disclosure requirements. In this report analysis has been done by undertaken balance sheet, income statement and notes to accounts of both the companies. In this report, one more question has been taken into account which is related to revision or up gradation of current conceptual framework of accounting to include prudence into it. This report includes analysis of advantages of prudence which is provided in terms of preparation and presentation of financial statements. In last section of this report, conclusion has been made in terms of whether revision of conceptual framework of accounting shall include prudence to overcome dispar ity in corporate reporting. Does the current accounting framework meet the needs of the users of financial reports as prescribed in the objective of the Conceptual Framework of Accounting? Meaning and objectives of conceptual framework or financial reporting Conceptual framework is used to define objectives and purpose of financial reporting for users of financial statements. Conceptual framework is used to define and understand nature, limit and functions of financial accounting and reporting standards established by prescribed board. Conceptual framework in terms of accounting undertakes various process and procedures that had whole together developed various accounting standards or accounting platforms that are followed by business organization. These accounting standards or prescribed procedures of accounting conceptual framework has provided base for preparing and presenting financial statements during the reporting period. Decision making Information related to investment and credit- Main objective or purpose of financial reporting or conceptual framework of accounting is to supply information that will became base for decision making process. Decisions related to investment in any business organization and lending or obtaining credit decisions will be taken on the basis of financial reporting (Carmichael Graham, 2012). Information of entity- Another main objective of financial reporting or conceptual framework of accounting is provide information of business entity related to its available resources and potential resources of business organization. These information are required by investors and creditors so as to take decisions (Shying, Subramanian CPA, 2013). Accountability and Transparency- Another objective of conceptual framework of accounting or financial reporting is to make business entity more accountable towards its decisions and more transparent in terms of business operations and other relevant information required for decision making. Bring uniformity- Main objective of financial reporting or conceptual framework of accounting is to bring uniformity in terms of preparation and presentation of financial statements. Objective is to make financial statements of business organizations comparable with each other and to supply decision making information for investors (Spraakman Jackling, 2014). Analysis of financial reporting In this report, analysis of conceptual framework of accounting or financial reporting of two companies has been taken i.e. Elders limited and Qantas Limited. Both the companies operate in different industry but there is same financial reporting framework that they need to follow. Both the companies has fulfilled financial reporting framework in terms of disclosing relevant information to stakeholders. Financial reporting or conceptual framework of accounting of Qantas Limited has provided relevant information i.e. financial framework (Christensen, 2010). Qantas has provided relevant financial information related to stakeholders. Following are three main information that has been provided to stakeholders: Information related to capital structure and cost of capital Return on capital employed or investment capital Information related to growth in investment, return and surplus to shareholders It has been observed that Qantas limited has prepared and presented financial statements in accordance of conceptual framework of accounting or according to prescribed financial reporting standards. They has provided information related to their business operations, remuneration provided to key personnel and many other information related to different aspects. On the other hand, framework related to disclosure and presentation of financial reporting has been demonstrated in the annual report of Elders Limited. Elders Limited has provided information related to many different aspects of business operations. They have disclosed their strategic directions decisions, financial information in terms of financial statements and capital structure that are employed in the business operations. Annual report of Elders Limited includes auditor report that is major requirement of financial reporting (Statement on Auditing Standards, 2011). Another inclusion of reporting framework is of financial statements prepared and presented according to conceptual framework of accounting or financial reporting standards. Financial statements of Elders limited are in compliance of financial reporting framework and have prepared statement of financial statement, income statement and cash flow statement (Jhunjhunwala, 2014). While analyzing financial statement and notes to accounts of both the companies it has been observed that notes to accounts of income tax has difference in terms of its presentation and disclosure. Elders Limited has disclosed less information of income tax of the reporting compared to Qantas Limited. Qantas limited has disclosed much more information in terms of income tax recognised in the consolidated income statement, reconciliation between income tax expense and statutory profit before income tax, recognised in the consolidated statement of comprehensive income and reconciliation of income tax expense to income tax payable (Tiffin, 2010). On the other hand, Elders limiteds disclosure related to income tax are; Major components of income tax expense, reconciliation of income tax expense applicable to accounting profit / (loss) and major components of deferred income tax. Therefore major difference can be observed in disclosure practices of both the business organizations. Another important aspect of conceptual framework of accounting or financial reporting is related to notes of accounts that both business organizations has provided in financial statement. Notes to accounts include information related to detailed aspect of figures presented in financial statement. It has been analyzed that both business organizations has provided detailed information related to principle activities, dividends provided, significant changes in state of affairs, review of business operations and events subsequent to balance date. These information included in financial statements of both the business organization undertaken i.e. Elders Limited and Qantas Limited (Kalkhouran et al., 2015). There are some factors or consideration that financial reporting or conceptual framework of accounting has not been able to address successfully. There are still some loopholes in financial statements and in terms of presentation of financial results. Loop holes exist in terms of accoun tants and those charge with governance of the business organization. Accountants have the requisite knowledge and skills that they can manipulate financial statements or other decision making information in favor of business organizations. Therefore there is limitation in following conceptual framework of accounting or financial reporting standards. It can be concluded that financial statements although provides relevant and decision making information to its users (like investors, creditors and other stakeholders). But on the other hand, reporting framework or conceptual framework of accounting has provided some loop holes also that accountants and those charge with governance has (Macve, 2010). Therefore powers provided to accountants and those charges with governance have not been utilized in common good manner. How the conceptual framework revision to include Prudence is likely to address the disparity in Corporate Reporting is a requirement in your analysis. Earlier it can be observed that business organizations were free to prepare and present their financial statements according to their wish. Most importantly it affected presentation of financial statement aspect. Therefore earlier there was no framework that governs or manages presentation aspect of financial statements of business organizations. But as the passage of time many changes has been made and many developments has been seen in presentation of financial statements aspects (Sanders Seifert, 2013). According to earlier accounting framework accountants and those charges with governance can modify or can include exclude some aspects or financial information. Therefore there is need to include prudence in the preparation and presentation of financial statements. This has been inherent point where officials of accounting standards or reporting framework shall be review and update (Robbins Taylor, 2014). Conceptual framework of accounting needs to be update or revise so that pr udent framework can be incorporated or included in the conceptual framework. Prudence can be defined as the process or framework that governs and discipline of the business organization for the better management. Prudence improves governance power or governance ability in terms of corporate reporting requirements or conceptual framework. This revision shall be implemented in order to curb disparity or difference in corporate governance requirement in terms of preparation and presentation of financial statements. There shall be imposed limitation on preparation and presentation aspects of financial statements of business organization so that uniformity can be achieved in terms of financial statements or financial reporting. Uniformity in financial statements provides better basis of decision making process and will be to better investments of investors (Sana'a, 2016). This change has not only improves preparation and presentation of financial statements of business organization but it also sets decision making platform for stakeholders of the business organiza tion. Conclusion It can be concluded that there are various types of disclosure requirements on business organizations that is managed and controlled by conceptual framework of accounting or financial reporting framework. It is concluded that after analysis of financial statements or annual report of two companies it has been analyzed that there is gap in terms of preparation and presentation of financial statements. Income tax expenses have been differently disclosed in financial statements of both the companies. Therefore this has been the result of loopholes of conceptual framework of accounting or financial reporting framework. In order to overcome from this situation, prudence shall be incorporated in corporate reporting. Prudence is the form of ability and discipline that governs accountants and those charge with governance of the business organization. References Carmichael, D., Graham, L. (2012). Accountants' Handbook, Financial Accounting and General Topics Financial Accounting and General Topics (12th ed.). New York: Wiley. Christensen, J. (2010). Conceptual frameworks of accounting from an information perspective. Accounting and Business Research, 40(3), 287-299. Jhunjhunwala, S. (2014). Beyond Financial Reporting-International Integrated Reporting Framework. Indian Journal of Corporate Governance, 7(1), 73-80. Kalkhouran, A., Rasid, S., Sofian, S., Nedaei, B. (2015). A Conceptual Framework for Assessing the Use of Strategic Management Accounting in Small and Medium Enterprises. Global Business and Organizational Excellence, 35(1), 45-54. Macve, R. (2010). Conceptual frameworks of accounting: Some brief reflections on theory and practice. Accounting and Business Research, 40(3), 303-308. Robbins, W., Taylor, G. (2014). What CPAs Need to Know about the FRF for SMEs. The CPA Journal, 84(10), 22-27. Sana'a, N. (2016). Recognition and Measurement Obstacles of the Conceptual Framework of Financial Accounting Underlying E-commerce Business. Journal of Internet Banking and Commerce, 21(1), 1-20. Sanders, Lindberg, Seifert. (2013). The AICPA's Financial Reporting Framework for Small and Medium-Sized Entities: Examining Its Key Features. The CPA Journal, 83(10), 36-39. Shying, M., Subramanian, R., CPA Australia. (2013). Accounting handbook. French's Forest, N.S.W.: Pearson Australia for CPA. Spraakman, G., Jackling, B. (2014). A Conceptual Framework for Learning Management Accounting. Accounting Perspectives, 13(1), 61-81. Statement on Auditing Standards - reports on application of requirements of an applicable financial reporting framework. (2011). Journal of Accountancy, 211(2), 76. Tiffin, R. (2010). The Complete Guide to International Financial Reporting Standards (3rd ed.). London: Thorogood Publishing.

Tuesday, December 3, 2019

Interview Protocol free essay sample

What would you say are the characteristics of a good leader? A leader is a person with integrity, who Is honest, humble, helpful and kind. Someone who puts others before themselves and who Inspires others to do better. 2) Of the characterlstlcs you Just described, which do you consider most Important In leadership ? I think they are all important 3) In your profession, do you carry any of these characteristics? If so, please tell me about them. I help others who are in need, I am honest and I am kind ) Do you believe that there are other good leaders who do not have the leadership characterlstlcs that you described? I suppose. 5) If yes, explain what still makes them a good leader. If no, what are these leaders lacking? Well, I think Hitler made a good leader but he was not kind or humble and he only helped his self. 6) Should good leaders have charisma to carry out their duties? Yes, Charisma Is what keeps people drawn, attracted and Inspired. We will write a custom essay sample on Interview Protocol or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page A good leader taught me to be persistent and follow through. Now, I always make sure that I follow through with phone calls or activities. I also try to give Good feed back and display excellence in everything that I do. My interview questions stem from my research question of describing an individual that the interviewee admired. Describing this individual means to give me details about what makes this person so great. Good leaders are said to have qualities and characteristics that other leaders do not.