What Makes A Business? Essay

The collection of private, commercially oriented organizations, ranging in size from sole proprietorships to large corporations is referred to as

The provision and use of personal protective equipment could include using gloves, glasses, earmuffs, aprons, safety footwear, dust masks.

Accountants are responsible in analyzing and assessing the revenue, expenses, reporting financial matters and giving advice about the financial health of their employer. They help their client to know the best way to run a business by tracking and analyzing where does the money of the business go. They also give suggestions on where money could be made and advice in budgeting the money in the business.

Jay Borsky PA is a small accounting firm located in central Miami Beach, Florida with the purpose of attracting high net worth individuals and businesses. The firm has been active for the past seven years and grow tremendously since inception. Jay Borsky started its practice as a sole practitioner and specialize in providing accounting and tax services. Presently, the firm is comprised by the owner, a tax Preparer, and two bookkeepers with no administrative support at the premises. Staff is using old and outdated information system technologies. However, as business grows, the firm finds itself with available resources for transformation to new and improved technologies that will support various functions.

In order to ensure responsible accounting practices Peyton Approved will be investing in QuickBooks Pro; this accounting software will allow us to make sure all the steps are being followed correctly. We have also hired Fusion Group; Fusion Group is an accounting firm that specializes in new business owners to help with the accounting process. As a company we are also taking classes to get a better understanding of accounting, getting an understanding of why the accounting cycle is important, what the numbers mean for the company, whether or not we are in debt, we owe money, but also being able to get a true sense of the monthly profit (Scheid, J., (2011).

Preferred Consulting will install QuickBooks 2015 Pro software on your computer’s hard drive. Next, we will setup Cutting Edge as a sole proprietor organization that is engaged in service and product sales, so the software knows how to account for all the transactions and taxes your company may incur during the year. Then we will enter your customers, vendors, supplies, and inventory that your business uses to conduct daily operations. Every transaction your business performs will be entered using the appropriate section of QuickBooks Pro 2015, and the amounts are automatically distributed to the selected chart of accounts. The chart of accounts records every transaction that is entered and keeps running totals of revenues, expenses, equity, liabilities and inventory.

Do we know what constitutes sufficient reason to attribute “responsibility to any person, company, or set of conditions? What kinds of risks do we assume when buying a car, or a motorcycle, or a can of tuna fish?

Customers are seeking the expertise of a tax professional in maximizing the refund or minimizing the debt.

II. Main Point #2. Contrary to popular belief, Accountants, and the tasks that they perform, are an important part of most people’s everyday life.

The architectural design of a firm varies greatly. In 1950, the business environment of Arthur Andersen included using the computer effectively for automated bookkeeping. Structure and regulation of the markets, helped Arthur Andersen to develop into a well-respected and reputable auditing company. The federal law in the 1930s requiring companies to turn over their financial statements yearly to an independent auditor not only strengthened Arthur Andersen, but also helped with their impeccable reputation. Arthur Andersen’s strategy included quality audits with a well-managed staff and profits. Promotions and rewards were plentiful when auditors made sound auditing decisions. In the 1990s, Arthur Andersen’s organizational architecture and strategy focused on generating new business, cost cutting, and performance evaluations along with decision rights over its business (Brickley, Smith, & Zimmerman, 2009).

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?

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

We have been hired by Price and Carter Accounting, LLC, a small startup accounting firm located in Columbus, Indiana that has only been open for about three months. They have hired us to look into their current situation and make recommendations based on that information for how they should begin acting on their goal of expanding within their market. Given that they are still a young company, they indicated their plans for expansion will not happen for the next few years. However, they would like to begin forming the right mind set now, so when it comes time to begin implementing the new changes within their organization, they will be fully prepared for what is to come next.

There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.

Any individual is a solicitation with another adversary. In business, relationship in the same business or near industry which