Assignment 1: You Are an Entrepreneur!Due Week 7 and worth 240 pointsStudent life does not generally afford a great deal of free time to pursue your personal interests; however, at one point, you may have considered turning a personal interest or hobby into an official enterprise. Today, you have finally decided to turn that hobby into a business but have realized that you need start-up capital from a lender or investor.To obtain funding, you need to convince a lender / investor that your business is more than a hobby. You need to demonstrate that you have a firm grasp of your business, the accounting practices that impact your business, the controls needed to safeguard assets, and which accounting system will produce accurate and relevant financial information.Write a six to eight (6-8) page business plan in which you:Describe the type of business you have created including:The product or service, and general staffing plan. Provide a rationale for your plan.The form of your business and the benefits it offers your particular business,A chart of accounts specific to your business, including a rationale as to the selection of each account. (Note: The chart of accounts is a blueprint of your business for the lender/investor. It should report the expected resources that you will consume in your business (assets), the sources of those resources (liabilities and equity), the sources of revenue, and expenditures that you expect to incur to earn those revenues. You may build a detailed chart that includes business units, divisions, product lines, etc.)Based on the form of your business, analyze whether or not you will be required to use Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) accounting methods and how the IFRS / GAAP convergence will impact your business. Suggest how you will incorporate any changes into your books and records. (Note: You need to demonstrate to the lender/investor that you have recognized possible changes to GAAP that may impact the accounting and reporting of your accounting events.)Prepare a pro forma balance sheet and income statement providing the assumptions made and support the valuations assigned.Considering the value of assets (assigned per your balance sheet) used within your business, recommend two (2) specific internal controls that you will implement to protect your company’s assets and resources, justifying how each will provide assurances to management. (NOTE:  Safeguarding assets and protecting personal data are paramount to ensuring the viability of a business.  Demonstrate to the lender/investor that your assets will be safeguarded and customer information (if applicable) will be protected.)Based on the internal control recommendations that you made, suggest how you will implement each within your business environment, indicating how challenges or resistances will be overcome. Evaluate the impact of the regulatory environment, including the Sarbanes-Oxley Act and other regulatory requirements, on your business venture, giving considering to how you intend to comply with the requirements and the general impact to decision making within your business.Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources. Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.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.

Please read the two passages on INDIA/INFOSYS and YAHOO/MICROSOFTchoose two questions answer on INDIA/INFOSYSanswer all questions on YAHOO/MICROSOFTIndia/Infosys The country of India doesn’t look like the new frontier in the high tech revolution but in the ancient rural villages of southern India, amidst the chaos of crowded streets, is a bold new world. India has turned into a technology mecca by being able to draw big name international companies and by creating a few of their own. Mohandas Pai, CEO of InfoSys, provides a tour of its facilities and explains the company’s extraordinary growth by growing from 500 to 50,000 employees in 12 years. He says it’s time to go East young man. InfoSys believes the key to luring foreign investors and workers is to create companies on par with any in the West. Pai showcases the InfoSys conference room which is noted as similar to the United Nations. With over 40 office buildings, 2 gyms, basketball courts, a supermarket, a golf course, and its own bank, InfoSys looks more like a resort spa than a company headquarters. Along with Indians who have traded jobs overseas to come home, increasing numbers of young Americans from elite U.S. colleges are coming to work for companies like InfoSys in India which has the second largest software industry. Many feel they can get more experience and opportunities they could not get in the U.S. Graduates of U.S. colleges are interviewed for their perspectives on the opportunities to contribute to organizations and the lures that are available in India. Americans are working hard and living well with lower salaries and lower cost of living with minimum standards of 3 meals a day for a $1. Mohandas Pai says that young Americans should come to India for the future is here.Also check out: (Indian Economic Growth) under the link: http://www.indianeconomics.org/  andINFOSYS: https://www.youtube.com/user/InfosysWhat international strategy incentives does India offer to a foreign investor? What limitations exist in India for companies desiring international expansion? Explain.What benefits does InfoSys receive from its international strategy? Explain.How does India’s national advantage(s) influence its business-level strategy? Explain.What corporate-level strategy is used by InfoSys and why? Explain.Yahoo!/MicrosoftThe Yahoo/Microsoft partnership, while the Silicon Valley talk, has employees concerned at Yahoo about more layoffs in the Yahoo search department. The deal teams of two of the biggest technology companies against Google for the lucrative control of the internet search market. Analyst believe that, in the short term, Google would has little to worry about but in the long term they may depending on how advertisers respond to the idea of a larger #2 in the search advertising market.Google, currently, has 65% of the market while Yahoo has almost 20% and Microsoft at a distant third with less than 10%. The managing editor for CRN Magazine considers this absolute steal for Microsoft in that Yahoo wins the ability to stay an independent company with a huge new friend. Reporters say consumers won’t notice changes right away but the partnership will benefit consumers over the long run because it doesn’t hurt to have a very strong #2 in search. With consumers receptive to the move, analysts believe that it will boost Bing’s exposure to Yahoo’s audience giving Microsoft its desire for a greater share of Internet advertising. Yahoo is reserving the right to retain control of the user interface which will control the look and feel of how the search results will be presented but the technology is all done by Microsoft. Analysts predict a tie in to remind people that Bing is what’s providing the results which is key to branding for Microsoft. Also check out http://www.microsoft.com/en-us/default.aspx and http://www.yahoo.com/What kind of competitive advantage is created through the Microsoft/Yahoo cooperative strategy? Explain..What kind of strategic alliance has occurred with Microsoft and Yahoo? Explain your answer. For what reasons do you think they developed such an alliance?Now that Microsoft and Yahoo have partnered, what business-level cooperative strategies do you think we can expect from them? Why? Explain.What corporate-level cooperative strategies do you think we can expect? Why? Explain.