11 May USE TECHNOLOGY AND INFORMATION RESOURCES TO RESEARCH ISSUES IN FINANCIAL ACCOUNTING.
Assess appropriate internal
controls, regulatory requirements according to the Sarbanes-Oxley Act, and
fraud prevention and detection.
Use technology and information resources to
research issues in financial accounting.
Write clearly and concisely about financial
accounting using proper writing mechanics.
Assignment
2: You Are an Entrepreneur!Student
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:a. The product or
service, and general staffing plan. Provide a rationale for your 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. (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.) 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 students name, the professors 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:
Examine accounting principles and concepts used in
businesses.
Assess appropriate internal
controls, regulatory requirements according to the Sarbanes-Oxley Act, and
fraud prevention and detection.
Use technology and information resources to
research issues in financial accounting.
Write clearly and concisely about financial
accounting using proper writing mechanics.
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