logo

Accounting for Decision Making Contents Introduction

   

Added on  2021-06-15

12 Pages1676 Words322 Views
Finance
 | 
 | 
 | 
Accounting for decision making
Accounting for Decision Making Contents Introduction_1

Koala and Kiwi Travel and Tours Shop 1ContentsIntroduction......................................................................................................................................2Factors that need to consider while selecting the business structure...............................................3Advantages and disadvantages of sole proprietary..........................................................................3Advantage....................................................................................................................................3Disadvantages..............................................................................................................................4Nature and types of non-financial and financial information..........................................................4Key accounting and supportive systems..........................................................................................6Importance and applicability of the accounting assumptions..........................................................6Possible capital expenditure decisions.............................................................................................7Planning and budgeting for business...............................................................................................8Conclusion.......................................................................................................................................9References......................................................................................................................................10
Accounting for Decision Making Contents Introduction_2

Koala and Kiwi Travel and Tours Shop 2Introduction The report is based on the accounting for the business decision making of the company. These accounting decisions are based on the scenario that has been selected and the selected scenario is Koala and Kiwi Travel and tours Shop. Being a newly appointed accounting and finance person it is the responsibility to decide, determine and to recommend the below-discussed decision.
Accounting for Decision Making Contents Introduction_3

Koala and Kiwi Travel and Tours Shop 3Factors that need to consider while selecting the business structure Selecting a legal structure for the business is one of the most important decisions for Koala and Kiwi Company. Below given are some of the factors that can affect the decision making of company related to the business structure. Control: - One of the important factors is the control of the business. The legal structure of the Koala and Kiwi travel and tour shop will affect the business control. The structure that will suit the company will be sole proprietary in which the whole control of the business will be in hand of owner.Limitation of Liability: - The legal structure will get implemented on the potential legal liability of the company. It is essential for the business to protect their personal legal liability. Moreover, the sole proprietorships and general partnership structure do not offersuch kind of asset protection (Costello, 2018). Tax implications: - The amount of tax that the company pay will be affected by the structure of the company (Hanlon, 2015). In this case, the Koala and Kiwi Company can take the advantage of tax by doing claim on a personal tax return. There are many other factors such as continuity of existence, on-going administration, flexible and future needs that can get affected due to the structure of the company.
Accounting for Decision Making Contents Introduction_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Finance- portfolio
|16
|3785
|66

Financial Accounting Processes - Advantages, Disadvantages, Funding Options, and Reporting Requirements
|6
|1180
|356

Accounting for Manufacturing Business - Decision Making to Commence a New Business
|10
|1879
|50

Financial Accounting Process: Partnership Business, Company Directors, ASX Companies
|7
|1045
|115

ACCOUNTING FOR BUSINESS.
|8
|1450
|90

Introduction to Business Law: Case Study on Business Structures
|12
|3026
|191