Wk 2 – Summative Assessment: Business Organization Types Infographic

Starting a business requires planning, projecting what you want for your business today, and determining what your business plan is for the future. A successful business must plan for future growth, which requires making choices today about the type of business to be created. Understanding the different business types, as well as the advantages and disadvantages of each, will assist in making the decision.

In addition, you must be familiar with the key roles involved in each type of business, as well as how they utilize financial information to make operational decisions. The first step is researching the 3 types of business organizations. This research process will allow you the opportunity to explain the fundamental concepts of accounting in the health care environment and showcase your growing accounting skills.

Preparing for the Assignment:

As head of your department, you are responsible for disseminating information to your staff. You have decided to create an infographic handout about the 3 types of business organizations to help them learn about the 3 types of business organizations, understand the key users’ roles, and recognize how the different types of business organizations utilize financial information in the day-to-day business operations.

Assignment Directions:

Use the information from Ch. 1, “Introduction to Financial Statements,” of Accounting to create an infographic in which you:

Describe the following 3 types of business organizations: sole proprietorships, partnerships, and corporations.
Describe 1 advantage and disadvantage for each of the 3 types of business organizations.
Describe the key users (i.e., sole proprietor, partnership, board of directors, CEO, COO, CFO, managers, etc.) of financial information.
Explain the types of day-to-day business decisions made by using financial statements.

Format any references used according to APA guidelines.

Submit your assignment.

Resources

Infographic page on the Microsoft® website

Our Service Charter

1. Professional & Expert Writers: Studymonk only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Studymonk are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Studymonk is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Studymonk, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.