Business Tutorial: Starting a Business

Business Tutorial: Starting a Business

  • Submitted By: keyanjing
  • Date Submitted: 11/06/2008 12:07 AM
  • Category: Business
  • Words: 387
  • Page: 2
  • Views: 607

Essay Topic # 2

|Essay is due in the week beginning 8th September in your tutorials and handed to your tutor. |

In a business, the main activities, which require your knowledge of financial accounting, are:

1. Financing

2. Investing

3. Reporting and Measurement

4. Analysis and Interpretation

Requirements:

Imagine that you are starting a business of your own.

a. Discuss the legal structure you would choose for your business.

b. Using your knowledge of financial accounting, discuss how you will undertake the above 4 activities.

c. Provide specific examples, amounts in $, for financing, investing etc.

d. Write down what measurements and reporting you would follow and;

e. What type of analysis and interpretation would you undertake to judge whether your business is doing well.

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Plan

Essay is required to have 750-1000 words.
Examples or diagrams are not counted in the total word limit.

Introduction:

What are you intending to discuss in the essay? Keep this very brief.

Body:

a. Choose the type of business you would like to set up; company? Partnership? Sole proprietorship? Name your new business.

b. Discuss, using the 4 activities, how each will impact on your business. Depending on the type you choose, the requirements will be different. For example, company will have different financing needs (and
potential) compared to a partnership by raising funds through shares.

c. Explain each activity by providing some numerical examples. For example, ‘we may need $1m to buy assets’.

d. You can use any measurements; such as horizontal, trend or vertical analysis or Ratios. Do you need to show a P/L? B/S? What are the government requirements?
(Briefly explain; can...

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