2009 B-1 Class Notes

2009 B-1 Class Notes - Becker CPA Review Business 1 Class...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Becker CPA Review – Business 1 Class Notes 1 © 2009 DeVry/Becker Educational Development Corp. All rights reserved. BUSINESS 1 CLASS NOTES Business Environment and Concepts (BEC) is a 2 ½ -hour exam consisting of three multiple choice testlets of 30 (or so) questions each. There are five major content areas on BEC : 1. Business Structure (BEC1) 17%-23% of points (covered in this outline) 2. Economic Concepts (BEC 2) 8%-12% of points 3. Financial Management (BEC 3) 17%-23% of points 4. Information Technology (BEC 4) 22%-28% of points 5. Planning and Measurement - Cost/Managerial Accounting (BEC 5) 22%-28% of points Business Structure is the topic of BEC 1. The CPA exam Content Specification Outline assigns a range of 17%-23% of points to the area broken down as follows: Advantages, implications and constraints of legal structures, Formation, operation and termination of business, Financial structure, capitalization, profit and loss allocations, and distributions, and Rights, duties, legal obligations, and authority of owners and management. I. SOLE PROPRIETORSHIPS - NOT A SEPARATE LEGAL ENTITY A. Unlimited liability of the single owner and the difficulty of obtaining financing for growth B. Sole proprietorship profits or losses flow through to the individual owner's Form 1040 on a Schedule C. A sole proprietorship is not considered a separate legal entity from the owner. II.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/19/2011 for the course BMGT 360 taught by Professor Spina during the Spring '07 term at Maryland.

Page1 / 3

2009 B-1 Class Notes - Becker CPA Review Business 1 Class...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online