ACC206 Strayer Week 8 Assignment 1 Start-up Budgeting

Anonymous
timer Asked: Feb 22nd, 2019
account_balance_wallet $45

Question Description

Due Week 8 and worth 200 points

Three (3) personal trainers at an upscale health spa/resort in Sedona, Arizona, want to start a health club that specializes in health plans for people in the 50+ age range. The trainers Donna Rinaldi, Rich Evans, and Tammy Booth are convinced that they can profitably operate their own club. They believe that the growing population in this age range, combined with strong consumer interest in the health benefits of physical activity, would support the new venture. In addition to many other decisions, they need to determine the type of business organization that they want to form: incorporate as a corporation or form a partnership. Rich believes there are more advantages to the corporate form than a partnership, but he has not convinced Donna and Tammy of this. The three (3) have come to you, a small-business consulting specialist, seeking information and advice regarding the appropriate choice of formation for their business. They are considering both the partnership and corporation formation options.

Assume the trainers determine that forming a corporation is the best option. Next, Donna, Rich, and Tammy need to decide on strategies geared toward obtaining financing for renovation and equipment. They have a grasp of the difference between equity securities and debt securities, but do not understand the tax, net income, and earnings per share consequences of equity versus debt financing on the future of their business. They have asked you, the CPA, for your opinion.

Write a two to three (2-3) page paper in which you:

  • Provide a summary to the partners, outlining the advantages and disadvantages of forming the business as a partnership and the advantages and disadvantages of forming as a corporation. Recommend which option they should pursue. Justify your response.
  • Explain the major differences between equity and debt financing, and discuss the primary ways in which each would affect the future of the partners' business.
  • Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • This course requires use of Strayer Writing Standards (SWS). The format may be different than other Strayer University courses. Please take a moment to review the SWS documentation for details (more information and an example is included in the Strayer Writing Standards left menu link).
  • Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Prepare transactions related to partnerships and corporations' stockholder equity, and issue the related financial statements.
  • Determine the concepts for investments and the related accounting transactions.

Click here to view the grading rubric for this assignment.

Click the link above to submit the assignment. Assignment: Start-up Budgeting 1. 2. 3. 4. 5. 6. Due Week 8 and worth 240 points For this assignment, you will decide what type of budget to implement for a start-up company. Write a three to four (3-4) page paper in which you: Summarize the type of manufacturing company you plan to start up and determine how you will design the value chain for your manufacturing company. Describe the type of budget you plan to implement in your company, and outline the budgeting review steps necessary to ensure that your company reaches the financial forecast. Select at least four (4) specific benchmarks you will utilize in your company. Explain the benchmarks selected and their benefit(s) to your company. Explain the type of cost system you plan to implement in your company, and identify any major challenge(s) in implementing your cost system. Suggest a way to overcome the identified challenge(s). Integrate at least one (1) quality resource using in-text citations and a reference page in your assignment. Note: Wikipedia, Investopedia, and similar Websites do not qualify as quality resources. Format your assignment according to the following formatting requirements: • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length. • Include a reference page. Citations and references must follow SWS format. The reference page is not included in the required page length. The specific course learning outcomes associated with this assignment are: Analyze the management accountant’s role in the organization. Analyze the advantage of budgeting, the preparation of a master budget, and other forms of planning. Discuss the allocation of costs to divisions, plants, departments, contracts, and products. Compare and contrast the various management uses of variances. Use technology and information resources to research issues in cost accounting. Write clearly and concisely about cost accounting using proper writing mechanics. • • • • • • • This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details. Due Week 8 and worth 200 points Three (3) personal trainers at an upscale health spa/resort in Sedona, Arizona, want to start a health club that specializes in health plans for people in the 50+ age range. The trainers Donna Rinaldi, Rich Evans, and Tammy Booth are convinced that they can profitably operate their own club. They believe that the growing population in this age range, combined with strong consumer interest in the health benefits of physical activity, would support the new venture. In addition to many other decisions, they need to determine the type of business organization that they want to form: incorporate as a corporation or form a partnership. Rich believes there are more advantages to the corporate form than a partnership, but he has not convinced Donna and Tammy of this. The three (3) have come to you, a small-business consulting specialist, seeking information and advice regarding the appropriate choice of formation for their business. They are considering both the partnership and corporation formation options. • • • • • • • Assume the trainers determine that forming a corporation is the best option. Next, Donna, Rich, and Tammy need to decide on strategies geared toward obtaining financing for renovation and equipment. They have a grasp of the difference between equity securities and debt securities, but do not understand the tax, net income, and earnings per share consequences of equity versus debt financing on the future of their business. They have asked you, the CPA, for your opinion. Write a two to three (2-3) page paper in which you: Provide a summary to the partners, outlining the advantages and disadvantages of forming the business as a partnership and the advantages and disadvantages of forming as a corporation. Recommend which option they should pursue. Justify your response. Explain the major differences between equity and debt financing, and discuss the primary ways in which each would affect the future of the partners' business. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other websites do not qualify as academic resources. Your assignment must follow these formatting requirements: This course requires use of Strayer Writing Standards (SWS). The format may be different than other Strayer University courses. Please take a moment to review the SWS documentation for details (more information and an example is included in the Strayer Writing Standards left menu link). Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are: Prepare transactions related to partnerships and corporations' stockholder equity, and issue the related financial statements. Determine the concepts for investments and the related accounting transactions. Click here to view the grading rubric for this assignment.

Tutor Answer

ChloeL134
School: UT Austin

here we goLemme know in case of anythingAll the best and Goodbye

Running head: FORMS OF BUSINESS

1

Forms of Business

Name

Course

Tutor

Date

FORMS OF BUSINESS

2

Forms of Business

Introduction

A partnership has little legal requirements. Only a license is required for one to start
commercial activities. This form of business brings two or more people together. The
partners bring in their input in the decision-making process hence improving the quality of
the decisions made. Besides, bring together more people increases the amount of capital in
any organization as compared to a sole proprietorship. However, this form of business has its
disadvantages. It has no legal status; hence it cannot sue or own property. Independent
partners own property as part of their capital contribution. Furthermore, unlimited liability
implies that the property ...

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Anonymous
Goes above and beyond expectations !

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