How An Individual Can Become An Entrepreneur And Experience Wealth Of His Own As A Business Owner

1537 Words Aug 19th, 2014 7 Pages
This paper demonstrates the process of how an individual can become an entrepreneur and experience wealth of his or her own as a business owner. It addition to explaining the guidelines of what a person must do to achieve the goals set forth for the business it will also discuss the impact and relevance of (GAAP) Generally Accepted Accounting Principles and (IFRS) International Financial Reporting Standards, accounting methods and how the GAAP and IFRS Convergence of the business.
In this day and age, entrepreneurs not only have the freedom to express and live their lives on their own accord but they also get the opportunity to take pride in knowing that they really can bring something to the table in which society will need. “The best way for and individual to have success as an entrepreneur is to enjoy during something that he or she enjoys” (Infoguide.com, 2008,p.1). Most often in America a large part of one becoming an entrepreneur and building something unique involves being willing to explore new territory. “An entrepreneur is usually someone who most often manages and assumes certain risks of a business or an enterprise (Sobel, 2008, p. 1).
There is no one that can be expected to build a new business from the ground up and make it a success without having to take a few chances and put everything on the line. “Most often, entrepreneurs will enjoy the freedom of making his or her own business decisions and becoming his or her own boss” (Clark, 2013, p.1). Within the…
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