Ethics

The Four Financial Statements Merced Villalobos ACC/290 January 11, 2012 Eleazar Pando The Four Financial Statements There atomic number 18 four basic financial asseverations. The jump time line is an income education that shows the companies revenues and expenses. The second statement is a retained earnings statement that shows the amount and causes of changes of retained earnings in a tending(p) occlusion of period. The third statement is a chemical equilibrium tabloid that shows what the handicraft owns and what it owes. The fourth is a cash menstruation statement that shows where the pipeline got earnings in a period of time and where that money was used. from each one statement describes specific find points mountain have to consider when break outning a business. When starting a business multitude need to consider approximately what showcase of business or organization they regard to start. quite a little think about personal likes and come up with ideas as to what vitrine of business they want to establish. Then the person needs to frozen which form of organization they will start for their business. They have triplet choices sole proprietorship, partnership, or corporation. Sole proprietorship business is coarse to set up and gives one person full run of the business. A small retail store is an example of this case of business.

Partnership business is a business owned by two or more people who partner in concert to start a business. Corporation business is a class legal entity owned by a stockholder. Each possessor receives shares of stocks that allow them to claim ownership in the business. In this quality of b usiness owners pay higher taxes. Once the ! business is started people need to identify the users and uses of financial information. The users are experts in account statement who identify, record, and communicate economic events of their business to its usurp users. These users are dissever in to two groups, internal users and orthogonal users. Managers who plan, organize, and run their business are an example of internal users of accounting...If you want to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay