Modes of Presenting Accounting Information

Hello Everyone,
My topic for today’s presentation is Accounting for Business.
This presentation is all about provide a support to friend that is Rob in purchasing a bakery
store in Melbourne by making different decisions related to business.
In the initial part, the presentation is discussing about two forms of business organization that
Rob can select to start. The two forms that Rob can select is Partnership and Sole
Proprietorship and their advantages and disadvantages.
Partnership – Under this form of organization, the partners has unlimited liability for the
actions performed in the business. Besides this, the partners in this share some proportion of
profit and losses. It works as a source of funds in the form of a new business partner and
provide benefit of specialized skill require to run a business. However, the disadvantage of
this is that this is a instable form of organization.
Sole Proprietorship - This form of organization is also called as sole trading business in
which there is only owner who owns and handles the business. Along with this, the owner
also takes the benefit of all the profit earned but also face the critics at the time of losses. In
this the advantage is that the owner gets complete ownership of the business, but the
disadvantage is that it has unlimited liability for the owner.
The second part of the presentation is discussing about how Rob can raise funds under both
the forms of organization and security required to arrange the funds.
There are different sources of funds that can be used by Rob for starting a business.
Partnership – Retained Profits, working capital, etc.
Sole Proprietorship – Sale of assets, support from family and friends for funds, bank loan,
etc.