ACCOUNTING FOR BUSINESS.

Running head: ACCOUNTING FOR BUSINESS
Accounting for Business
Name of the Student:
Name of the University:
Author’s Note:

ACCOUNTING FOR BUSINESS1
Table of Contents
Introduction........................................................................................................................2
Forms of Organization for Tim.......................................................................................2
Availability of Finance....................................................................................................3
Raising Required Finance..............................................................................................4
Accounting and Non-Financial Information’s.................................................................4
Skills and Accounting Knowledge..................................................................................5
Conclusion.........................................................................................................................5
References.........................................................................................................................6
Appendix............................................................................................................................7

ACCOUNTING FOR BUSINESS2
Introduction
Financing the business operations of the company can be well done by an
individual or a corporation with the help of the costs and benefits that are directly
attributable or flowing to the entity in the stated period of time. The different forms of
organization that can be considered by Tim for business purchase and the pros and
cons associated with the same has been well highlighted in the given report.
Forms of Organization for Tim
In order to startup with a new business organization Tim can particularly consider
three main forms of business organizations and the same can be particularly in the field
of Sole Proprietorship, Partnership and Corporation.
Sole Proprietorship: A proprietor is a common type of business organization that is
easy in formation and at the same time offers a complete managerial control over the
owner. The owner or the proprietor of the business undertakes various business
decisions and is solely responsible for the undertaken business activities. The key
advantage of Sole Proprietorship business is in the form of quick and independent
decision that a proprietor can take for the business (Schölin, Ohlsson and Broomé
2017). On the other hand, the key disadvantage of the sole proprietorship business will
be in the form of limited availability of capital and management support that the
proprietor could have received if it would have been in other forms of organizations.
Partnership: A partnership business can also be considered by Tim that would be
acting as a mutual agreement between two or more partners for the purpose of sharing