Four forms of business organization 2

As Hacker herself says, these patterns are "sometimes called methods of development. Some of these rhetorical modes do imply basic patterns for organizing information. Organization is also imposed by definition [narrowing groups of meanings, from the broad class to which the term belongs, to the narrower groups, to the individual distinguishing characteristics], and in most narration [this happened, then this happened, then this happened].

Four forms of business organization 2

Search Four Forms of Business Organization 2 Abstract This is an analysis of the four different forms of business organization. It is a review of the advantages and disadvantages of each form, including the tax, legal, and, accounting implications that surround them.

The different type of financial statements associated with each form of business organization is also discussed. In this paper, based upon the synopsis that the government has released funds for creating small businesses, a form of business is chosen by the class member in explaining his business idea.

It then concludes with why that particular form of business was selected. Introduction There are four types of business organizations that relate with the various businesses and their range in size and functions.

The owners or partners establishing a company might share tax or legal liability with the business entity depending on how the business is formed.

When one is tasked with starting a business, various options must be considered regarding what form of business organization is best suited to the operational plan of the perceived business and to what degree of liability one wish to assume. It is with this notion that I evaluated the four forms of business organization and hence made a choice that best suit my business aspiration.

Below is an analysis of the various forms of business. Sole Proprietorship This is a form of business run by an individual, who owns the business, and has all of the profits and losses of that business. The owner also has all the control and all the liability from the business operations.

The business normally with have an income statement and a balance sheet. Possible conflicts are minimized. General Partnership This is a business formed by two or more individuals to generate a shared profit.

Just like the Sole Proprietorship, the taxes of the partnership are identical to the personal taxes of its partners. The partners agree to combine their resources, money, management, and material and also to share their profits and losses.

A General Partnership can have silent partners, who provide financial capital, but do not participate in management, and also industrial partner, who does not contribute financially but is responsible for its management.

The legal requirements to its registration are not many. The death or withdrawal of a partner dissolves the partnership, and it needs complete reorganization to continue nits operations. C Corporation This is a business established as a separate legal entity from its owners.

The operational decisions of the business are made by the board of directors. The owners are not held liable for the liabilities of the organization and the business pays its own taxes, known as the corporate income tax.

How you find organization . . .

Hence, a corporation is recognized by law as a body with its own powers and liabilities separate from its individual members. All personal properties of the shareholders are excluded from financial claims of the creditors.

Four forms of business organization 2

Hence, the transfer of ownership can take place anytime with the transfer of stocks, but yet it has no bearing on the continuity of the organization. Dividends paid to shareholders are not deductible as a business expense, hence, such income may be subject to double taxation.

S Corporation This is a regular corporation with features that similar to a partnership, but is classified as a S Corporation to have liability protection of corporate status but is however taxed at individual rates. The corporation must have at least one shareholder but cannot have more than A shareholder providing services to the business must be paid a reasonable salary, separate from distributions of profits or losses.

Financial statements are the same as a C Corporation. The advantages and disadvantages are also the same with the exception of taxes. Business Idea Upon viewing the merging global market, I selected the S Corporation to be a perfect fit for my business endeavor.

My business will provide sales and service of fire solutions to Liberia with hopes of expanding throughout West Africa. I am a descendant of Liberian heritage and my family still own properties there.

The country recently signed a contract with Chevron for oil to be drilled off its shore. All oil drilling sites need a fire solutions company that will monitor and solve fire problems.

This will be the responsibility of my service division of the corporation. In the contract was a provision that mandated Chevron to hire only a fire solutions company owned by Liberians. However, there is no Liberian owned fire solutions company in the country and my goal is to establish one.

The corporation sales division will be the primary distributor of all fire solutions products such as nontoxic fire extinguishers, fire alarms, sprinkler systems, flame retardant paints and will venture into fire engines when the need arise.It's the same with writing.

With any given group of ideas and details, you might use any of a number of principles of organization, and any one of them would help you and your reader.

Partnerships

Time Management Statistics Demonstrating a clear need for productivity training and stressing the benefits of being organized. Stress and Work/Life Balance. 4 Types of Organizational Culture. By The Tipster. May 14, Comments [7] Share.

resilient organizations, There’s no correct organizational culture for an arts organization. All cultures promote some forms of behavior, and inhibit others. Some are well suited to rapid and repeated change, others to slow incremental development of.

Types. There are a variety of legal types of organisations, including corporations, governments, non-governmental organisations, political organisations, international organisations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions..

A hybrid organisation is a body that operates in both the public sector and the private sector. Forms of Business Organization. These are the basic forms of business ownership: 1. Sole Proprietorship. A sole proprietorship is a business owned by only one person.

It is easy to set-up and is the least costly among all forms of ownership. Nov 29,  · Types of Business Organizations (PART 1) Types of Business Organizations (PART 2) - Duration: Forms of an Organization - Duration:

Principles of Organization