1.16-18 - Today’s Topics PLEASE TURN OFF CELL PHONES...

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Unformatted text preview: Today’s Topics PLEASE TURN OFF CELL PHONES Financial Accounting Information for investor decision-making in accountability situations This class will: Describe investor decision-making Describe the source and use of financial accounting Define accountability A Sole Proprietorship is owned by a single individual. A Partnership is owned by two or more individuals. Partnerships require clear agreements about authority, risks, and the sharing of profits and losses. A Corporation is a separate legal entity created by the authority of a state government. Each state has separate laws governing establishing corporations. Fig. 6 Types of Business Organizations Fig 7 Regulation of Business Organizations Few laws govern the operations of proprietorships and partnerships. Corporations are subject to regulations. Large, publicly traded corporations are much more heavily regulated than smaller closely held corporations. SEC Acts of 1933 and 1934 Sarbanes-Oxley Act of 2002 Exchange listing requirements. Corporate Advantages Separate legal Entity Limited liability of stockholders Continuous life Easily transferable ownership rights Ability to raise capital Fig 8 Comparison of Business Organizations Corporate Disadvantages Governmental regulation Corporate double taxation Vice Presi dent (Produ ction) Vice Presi dent (Mar keting) Vice Presi dent (Financ e) Vice Presi dent...
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This note was uploaded on 03/31/2008 for the course ACIS 2115 taught by Professor Jayardley during the Spring '07 term at Virginia Tech.

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1.16-18 - Today’s Topics PLEASE TURN OFF CELL PHONES...

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