ACC 561

ACC 561 WEEK 2

You are interested in establishing a small business, and you must decide which form of business organization would best suit your unique product or service. Consider legal, tax, accounting, and other implications when selecting from the four business types.

Write a paper of no more than 1,250 words discussing your small-business idea. Include the following:

• The advantages and disadvantages of the different forms of business organization, which include the following:

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• Sole proprietorship
• Partnership
• C corporation
• S corporation

• The different types of financial statements required by law with each form of business organization, including different names for the equity sections. This does not mean an overview of what is on each statement. What entities are required by law to have statements and what is the difference in the equity?

ACC 561 WEEK 2