Understanding the different business types

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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, w

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.

Identify and describe the specific issues Maalick encountered in the workplace

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Identify and describe the specific issues Maalick encountered in the workplace. Do the actions of other workers at Treton represent discrimination and harassment? What elements of law are important fo

Identify and describe the specific issues Maalick encountered in the workplace. Do the actions of other workers at Treton represent discrimination and harassment? What elements of law are important for Treton to consider?

Evaluate the actions of the HR director, Marta Ford, in response to Maalick’s situation. What could she have done to prevent the situation and what more could she do to ensure that this type of situation would not occur in the future?

Financial Information Table

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Complete the attached file

HCS/380 v7

Financial Information Table Complete the attached file 1

The Chief Financial Officer (CFO) of the hospital has asked for assistance. The CFO wants to create a document for new employees that explains financial information and the way it is used to evaluate a health care organization. You are being asked to explain important concepts regarding the use of financial information.

Using the information found in Ch. 7, “Fraud, Internal Control, and Cash,” and Ch. 9, “Reporting and Analyzing Long-Lived Assets,” of Accounting, respond to each question in the “Requireed Elements” column in the Financial Information Table below.

Thoroughly answer each question in your own words and provide a 100-word response for each question. This means the total word count for this assignment is 1,100 words.

Cite at least 3 scholarly sources to support the answers to the questions.

Format your citations and references according to APA guidelines.

Financial Information Table

Required Elements Response
How is financial information used to operate a health care organization on a day-to-day basis? Insert your response here.
What are the 3 factors of computing depreciation? Provide 1 example for each. Insert your response here.
What are 2 different types of depreciation? Insert your response here.
What is sustainable income? Provide 1 example. Insert your response here.
What is meant by discontinued operations? Provide 1 example. Insert your response here.
What is meant by comprehensive income? Provide 1 example. Insert your response here.
What are alternative accounting methods? Provide 1 example. Insert your response here.
What is pro forma income? What is its purpose? Insert your response here.
What are the 3 basic tools for financial statement analysis? Explain each. Insert your response here.
What is the importance of data analysis in the accounting process? Insert your response here.
Standard-setting environments are discussed in Ch. 2, “A Further Look at Financial Statements,” of Accounting. What is a standard-setting environment? Identify 1 example and describe how it functions. Insert your response here.

References: Insert your references below this section.

Copyright 2021 by University of Phoenix. All rights reserved.

Review the financial ratios in the Wk 3 Discussion – Financial Ratios.

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Over the last 4 weeks, we have reviewed foundational concepts related to business operations and accounting. You have learned inventory concepts and some basic terms, such as assets, liabilities, expe

Over the last 4 weeks, we have reviewed foundational concepts related to business operations and accounting. You have learned inventory concepts and some basic terms, such as assets, liabilities, expenses, and revenues. In addition, you have learned the regulatory agencies’ expectations on auditing and reporting, including the benefits of internal and external controls to prevent financial fraud.

Leadership’s role is to continually assess the financial stability and long-term viability of the organization using the financial ratios and horizontal and vertical analysis. Whether assessing the financial health of an organization for investment purposes or for benchmarking an organization against another, it is important to understand the course concepts to conduct a rudimentary analysis. This process will also allow you to analyze consolidated financial statements to make business decisions in health care and practice your auditing skills.

Preparing for the Assignment:

You have been recognized as a financial analysis expert. As such, you have been hired to conduct a review of a for-profit organization’s latest consolidated financial statement and make recommendations to leadership based upon your findings. The business proposal requires the use of 3 scholarly sources to support your work.

Select 1 consolidated financial statement from a for-profit health care organization of your choice.

Review the financial ratios in the Wk 3 Discussion – Financial Ratios.

Assignment Directions:

Choose 2 of the financial ratios listed below and perform a calculation of that ratio using your selected organization’s financial statements. Alternate ratio names are provided in parenthesis.

  • Current ratio (liquidity ratio)
  • Debt to assets ratio (solvency ratio)
  • Free cash flow (solvency ratio)
  • Price-earnings ratio (profitability ratio)
  • Profit margin ratio (profitability ratio)
  • Return on total assets Ratio (profitability ratio)
  • Working capital (liquidity ratio)

Include an explanation of what the result of the calculation means about the organization.

Write a 1,050- to a 1,400-word business proposal using your own template or the Business Proposal Template.

Include the following items in your business proposal:

  • Background/History of the Organization:
  • Describe the health care organization.
  • Include the history and purpose, and identify the service or product they offer. (This information is typically found in the annual report.)
  • Operational Structure:
  • Describe the company’s operational structure (i.e., sole-proprietorship, corporation, partnership, etc.).
  • Include a definition of the type of structure and discuss their financial health. (This information is typically found on the SEC website.)
  • Financial Analysis and Stability:
  • Explain the purpose of financial analysis.
  • Identify the steps required in performing a financial analysis.
  • Include information about the organization’s assessment of its current financial stability.
  • Identify their growth plans or plans to increase future revenue. Include any challenges they have encountered or anticipate.
  • Vertical and Horizontal Analysis:
  • Compare vertical and horizontal analysis.
  • Include the actions the organization should take if the findings show unexpected differences. Provide 1 example.
  • Financial Ratios:
  • Explain the use of financial ratios.
  • Define the 2 financial ratios you selected for this assignment.
  • Using the organization’s financial statements, perform a calculation for the 2 ratios.
  • Include an explanation of what the result of each calculation means about the organization’s financial status.
  • Recommendation For Leadership:
  • Recommend 1 financial strategy to leadership. The recommendation must be based on the organization’s financial statements and related to their financial status improvement, liabilities reduction, revenue streams expansion, or future growth.
  • Conclusion:
  • Write a conclusion. This closing paragraph is designed to assist the reader in understanding the purpose of the paper.
  • Summarize the key points from the supporting paragraphs without introducing any new information.
  • Include how this information would be used by health care managers.

Cite 3 scholarly sources to support your assignment.

Format your citations and references according to APA guidelines.