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GordonDamon_Unit3_Assignment.docxRunning head: Cookie Creations School 1
Cookie Creations School 6
Cookie Creations Cooking School
Damon Gordon
Purdue University Global
Abstract
The article discusses the creation of a company from formation to operations in the context of accounting. We examine the differences in business organizations such as proprietorship and corporations. The importance of hiring an individual to conduct all accounting processes for the company. We also examine the reason why it is important to keep personal records separate from the records of a business. The standpoint of record keeping not only is examined from the separation but the affects record keeping can have on a business from income taxes to expense related issues.
In the study we will show the affects of selling on credit; the advantages and disadvantages. Through analysis we examine the best practices of accounting for a new company. Why it is important to understand not only the basics of accounting principles but also advanced principles. How financial reporting can have detrimental effects on the business and customers including the owner.
Keywords: Accounting case study, business organizational types, financial statements, corporations
Cookie Creations School
The title placed above where you start your text should not be in bold font. The title should be identical to the title in the center of the title page. The introduction of the paper begins here. Times New Roman, size 12 font is one approved font style. Double-space throughout the paper, including the title page, abstract, body of the document, and references. Two spaces are used after terminal punctuation — a period, exclamation point, question mark. The body of the paper begins on a new page (page 3, if there is an abstract). Subsections of the body of the paper do not begin on a new page. The title of the paper (in uppercase and lowercase letters) is centered on the first line below the manuscript page header. All level one headers within the body of the text are in bold, however, headers on stand alone pages and the title on page one of the body of the text; i.e., The Title page, Abstract, the reference page, and all following pages are not in bold. The introductory section, which is not labeled, begins on the line following the paper’s title. Headings are used to organize the document and reflect the relative importance of sections. This is the first paragraph. Do not use words such as “The research project will cover . . .” or “This paper will discuss . . .” because these are instances of anthropomorphism where we give inanimate objects human behaviors.
The introduction or opening of the paper should be worded to engage the reader by capturing his or her attention, provide background on your topic, develop interest in your topic, and guide the reader to the thesis. A thesis statement in an essay or formal paper is a sentence that explicitly identifies the purpose of the paper or previews its main ideas.
Business Organizations
Proprietorship
Partnership
Corporations
Accounting Information Needed
Receipts
Accounting Software
Necessary Financial Accounts
Assets
Liabilities
Revenue
The Need for Separate Bank Account
Separation of Expenses
Financial Statements Detailed
Balance Sheet
Revenue Statement
Retained Earnings Statement
Cash Flow Statement
Evaluation of Cash of Biscuits
Biscuits Cash Flow Statement
Biscuits Balance Sheet Statement
Biscuits Longevity Evaluation
Biscuits Profitability Evaluation
Outstanding Debts
Dividends paid by Biscuits
Miscellaneous Concerns of Biscuits
Internal Controls
Analysis of calculations for Offering Credit
Alternative Payments than Credit
Customers using Credit Cards
Advantages
Disadvantages
Conclusion
References
Garcia, M. (2018). Importance of Keeping Business & Personal Bank Accounts Separate. Retrieved from http://smallbusiness.chron.com/importance-keeping-business-personal-bank-accounts-separate-76039.html
McCool, C. (2016). How to Separate Your Business and Personal Finances Read more at https://bench.co/syllabus/bookkeeping/separate-business-personal-finances/#Az4wJ1LUjhQ0mBUZ.99. Retrieved from https://bench.co/syllabus/bookkeeping/separate-Mueller, K. P. (2010).
