Browse over 20 million
homework answers & study documents

Accounting

ACC 557 Pepsi Versus Coca Cola Assignment 2 You Are an Entrepreneur

Type

Homework

Rating

Showing Page:
1/6
ACC 557 Pepsi Versus Coca Cola Assignment 2 You Are an
Entrepreneur
You Are an Entrepreneur
ACC 557
Abstract
This paper discusses the process of how an individual can become an
entrepreneur and experience wealth of his or her own as a business
owner. It also explains the guidelines of what a person must do to
achieve the goals that he or she has set before themselves. Also
included in the paper will be topics on (GAAP) Generally Accepted
Accounting Principles and (IFRS) International Financial Reporting
Standards, accounting methods and how the GAAP and IFRS
Convergence will have an impact on his or her business.
In today's economy a huge part of the American dream involves
becoming one's own boss and in most cases it would not see terribly
difficult for one to understand why. As of today, entrepreneurs not only
have the freedom to express and live their lives the way they want, they
also get the opportunity to take pride in knowing that they really can
bring something to the table in which society will need. “The best way for
and individual to have success as an entrepreneur is to enjoy during
something that he or she enjoys” (Infoguide.com, 2008,p.1). Most often
in America a large part of one becoming an entrepreneur and building
something unique involves being willing to explore new territory. “An
entrepreneur is usually someone who most often manages and assumes
certain risks of a business or an enterprise (Sobel, 2008, p. 1).
In some cases an individual may not only need to be able to come up
with a solution or ways to provide a service or product that no other
person is giving to the public, he or she must also have an insight to
become fearless when it comes to having to experience something new.
There is no one that can be expected to build a new business from the
ground up and make it a success without having to take a few chances
and put everything on the line. “Most often, entrepreneurs will enjoy the
freedom of making his or her own business decisions and becoming his
or her own boss” (Clark, 2013, p.1). Within the global markets of
businesses today, if everyone who had liked the idea of being their own

Sign up to view the full document!

lock_open Sign Up
boss and making money had what it took to build a business; most of the
people in the world today would have become entrepreneurs. Usually at
the end of the day, most true entrepreneurship is basically about having
a deep felt passion for what he or she is
looking for to accomplish within their business. A large part of one
becoming an entrepreneur and occasionally building something unique
involves being willing to explore a new territory for him or her (Flewellen,
2005, p. 2). In most cases it all about having a clear vision of where a
person want to go with their business and what he or she are willing to
do to achieve the goal that they have started. It is also good for a person
that is thinking about owning their own business to have a plan that
would put them on a path to success
One should also be passionate about the vision that they have and stay
focus until that goal comes into view.
(1) Describe the type of business you have created including:
(a) The product of service, and general staffing plan.
(b) The form of your business and the benefits it offers your particular
business.
(c) A chart of accounts specific to your business, including a rationale as
to the selection of each account.
The business that I have chose is a marketing business that produces
software products and distributes them throughout the country. The
company will consist of staff members from diverse backgrounds who
are able to contribute their talents to a team that will get the job done.
There will be benefits to accommodate those who are fulltime employees
and promotions as well.
Debit Credit
Cash $ 40,000
Accounts Receivable $ 30,000
Notes Receivable $ 20,000
Equipment $ 25000

Sign up to view the full document!

lock_open Sign Up

Sign up to view the full document!

lock_open Sign Up

Anonymous
Really great stuff, couldn't ask for more. The assignment was done with remarkable detail.

Anonymous
Solid work, thanks.

Anonymous
Goes above and beyond expectations !

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4