My Dream Of Becoming A Business Owner

In accrual accounting, an expense is recognized when the business is obligated to pay it. As goods or services are invoiced, the invoices are posted and counted as assets. Expenses are also posted at the time they are incurred. Accrual accounting is used at most mid-level and large businesses and provides a more accurate picture of the company’s current condition, it is however more expensive to implement. This type of accounting is required by GAAP. Although this type of accounting is more complex, it allows one to track receivables and payables, and match revenues to expenses, which gives more meaning to financial reports.

I will take great care of my employees by offering great pay a well as benefits for them and their family. However, they must be able to perform all of the job functions including re-stocking, operating the cash register, sizing/fitting customers etc. My store will have a bodyguard on duty from open to close. Security cameras will be installed and viewed daily. Once we receive the shipments to our stores, we’ll stock the shelves and always have additional in the back as part of our inventory. After we close, a check list will need to be completed by employees which will consists of count of inventory, a log of what is selling and what isn’t, as well as putting the clothes back in their original place such as clothes in the fitting rooms etc.

Beginning a new business venture sounds like a easy task. All you need is a great idea, opportunity to select your team so you can begin to make some moves and find a few investors to invest in to this dream you have. Before you know it you are making a profit and moving onto a new location. Sounds easy but there is much more that goes into starting a new business than most people may know. To accomplish this, the business has to satisfy several objectives that exclusively add to the business. This paper will narrate some of the particulars of previous works from week two, three, and four with information such as the business and

I have started a business of catering; my business plan has all the ideas, goals, mission statement and the vision of the business. As an entrepreneur I would like to get investors to invest in my business. The story of Dubas Cakery started when my mom sold cakes on the side of the road that’s where I feel in love with baking, then I got a chance to be a baker and I grow the business and today Dubas cakery is formal and registered business.

Basic accounting concepts and business structures are important to a business’s success. Using generally accepted accounting principles (GAAP) brings a standard to financial statements. There must also be effective accounting information. A company can choose to use cash basis accounting or accrual basis

The usual start-up costs involve a start up fee for the business, down payment or rental for the building on location, inventory, utilities, insurance, etc. Because there is a wide array of businesses to choose from, every new business’ start up costs will vary. Some of the start up costs will include one-time fees and on-going fees. Consulting a financial planner would be very helpful and beneficial during this stage and through the on going stages of the business. One of the main purposes of a business is to make money; therefore, consulting with a financial planner will provide financial strategies to help the business grow and increase revenue.

The traditional costing method is a reporting requirement by GAAP and is easy to implement. The total fixed overheads and total labour hours are estimated

For the sake of space in this article we are going to assume that you understand the basic principles in starting and successfully managing your own business.

The competition is growing in the photography business, and with wedding season fast approaching, I need your immediate assistance in expanding my business to customers in the surrounding area.

Would you like to share some ideas and details regarding about the business you intend to establish?

Valuation of assets is considered a great difference between the two methods. GAAP always records its assets at historical price – the price paid at the point of sale – and not at their fair market value – an estimate of the price of an asset in the market today – which has had a lot of accountants say that historical cost is unreliable and irrelevant. IFRS, on the other hand, records its assets at fair market value, as long as there is market for the assets being revalued (Ernest & Young, 2011b).

Starting my own business was one of the most exciting things that I have done in my life. I planned my business start-up for about a good nine months and then I finally took the initiative to open my company. I still kept my day job because I knew that it was a possibility that I would have a slow start with making a profit. Unfortunately, the slow started lasted for more than a year. The slow start was due to me having a lack of customers. I tried desperately to gain the interest and attention of potential customers. I took the initiative to gain customers by placing ads in the local newspaper. I also hired a graphic designer to create flyers and postcards for my company. I place these flyers around my city and I even mailed out postcards

Heather Evans is a very recent graduate from Harvard Business School and has been working on getting her venture off the ground for quite some time. She has the know-how and skill in her industry but not the funds. This is why she is seeking out investors. This is proving to be more difficult and time consuming than she had anticipated. I think most people have this experience at one time or another especially if they are starting their own business. The great ideas of the world do not always get all the support in the world.

From an early age I learned that our very best is often brought to action when we willingly take on challenges and persevere with grace through trying times. As a widowed, single mother, my mom strove for excellence in every area of her life in order to put food on the table for her children. She studied to be a nurse, quickly rose in to administration, became the first in our family to obtain a Masters in Business Administration (MBA), and earned a seat as a director for an international healthcare organization. Her determination and positive spirit served as a great example and sparked a passionate drive in my life to help others while striving for greatness.

Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the