business law reflection essay

report and submit it and wait for the IRS to enforce the rule. If any other person thinks an accountant is breaking a rule they will write a report and send it in to an IRS employee so they can create a formal report. Accountancy Law in WV Summary One part of accountancy law in West Virginia was to create the state’s board of accountancy. It goes on to list the term for the board members and the requirements to become a board member. After this comes a list of the board’s powers. These powers

Ownership and structural forms of business organization, applicable laws, requirements for their formations, and advantages and disadvantages Type of Ownership * Single or Sole Proprietorship. It is a form of business organization which is owned by one person. The owner personally manages his business. Most of businesses in the Philippines (including those which are not registered) belong to single proprietorship. Examples are retailers, market vendors, barbers, tailors, and so forth. a)      

There are many forms of business that a business owner can choose to run their Business. In order to determine which form of business meets the needs of the business owner, the owner must first understand the characteristics, advantages and disadvantages of each form of business. I intend to outline this information, in effort to provide business owners with the information necessary to make an informed decision regarding the appropriate form of business for their situation. Sole Proprietorship

the case of Alex, Bill, Carl, and Devon’s business, me being their accountant, a type of business I would suggest them will be a Liability Limited corporation. Based on their needs LLC would be a perfect form of business for them. As their company was sole proprietorship ran by their dad, LLC offers some advantages of a corporation, as well as some advantages of a sole proprietorship. “A limited liability company, commonly called an "LLC," is a business structure that combines the pass-through taxation

Business organization is a group of people who are organized for some charitable or profitable purpose. Business entity is a corporate, commercial or other institution which is formed or administered according to the commercial law so as to engage in business activities which is generally selling of any product or service. In accounting business organization and owners both are separate or distinct from each other. This means that the personal transactions of owner are separately treated from business

NAMING A BUSINESS JOHAN RIVERA LIBERTY UNIVERSITY Shania Jackson is a Christian woman that has the desire to devote her time and money in the creation of a Christian coffeehouse in Denver, Colorado. Ms. Jackson counts with the support of her husband, Marvin that it’s simply interested in making a generous contribution for the initiation of the coffeehouse process. Shania has been approach by several individuals interested in being considerate to be part of the development of the business. Her sister

Acme Fireworks Angelica DiMaggio Instructor Malvin BUS311: Business Law May 26, 2016 Acme Fireworks is a reputable fire work company that falls under the form of retailer. In order to gain consumers and sell their products they must put out ground display’s of their fireworks as well as a variety of aerial fireworks, especially their larger products. This company started out as a small family owned business in the back of a man’s garage and as he grew and drew in more consumers he

Agro-Chem, Inc Leasing – Case 49 Problem Statement: Agro-Chem, Inc. is a regional producer of agricultural chemicals based in Houston Texas that needs help making a lease versus purchase decision. By understanding the material presented, we will be able to come to a decision. However, after reviewing the information presented, there are a few problems that need to be investigated before finalizing our recommendation. Agro-Chem, Inc. chose to go with the financial manager’s idea of using a discount

Head: Four Types of Business Brandon Mckinley University of Phoenix ACC/561 Introduction An Entrepreneur is a person who forms and operates a business. Entrepreneurs form and start companies by themselves, or with partners. Most of the time companies which are started by entrepreneurs are relatively small in size, but some grow into huge corporations, such as Microsoft which is owned by Bill Gates. Entrepreneurs have four different options when starting a business, which include a sole

Small-Business Idea Recently the United States government has released funds for creating small businesses. An opportunity to acquire government funding for a business venture is one to take advantage of and to put dreams into reality. The intent of this paper is to outline the three main forms of business organizations including the tax and legal implications as well as the accounting requirements for each structure. In addition, this paper proposes creating a small business of a women’s only gym