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Essay / Research Paper Abstract
This 4-page paper discusses accounting needs in a start-up business, formulated as a sole proprietorship. Bibliopgrahy lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTaccosole.rtf
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Unformatted sample text from the term paper:
provide fast, efficient and safe delivery for the business community. The main products delivered are predominantly documents and small packages, and the company guarantees these deliveries within four hours.
The reason why a company would be set up as a sole proprietorship is because such a structure is the least complex, and
simplest way to launch a business. A sole proprietor finds that filing taxes is easier, and money handling is a lot easier too. Its not necessary to set up a
special payroll system to pay employees, for one thing. In addition, launching a business as a sole proprietor means less start-up costs -- as setting up any kind of corporation
usually involves some sort of filing fee and special forms. Accounting plays a huge part in the start-up and continuation of a
business because not recording revenues, expenses and other financial numbers could end up leading to an audit, which no small business person wants (Bostwick, 2007). A solid accounting system helps
the business owner know how much money the business is pulling in -- and how much its paying out in the form of expenses. Not understanding inflow and "outgo" of
money could seriously harm the business in its earlier days. Diligent record-keeping, on the other hand, will help the proprietor of Spears
Courier see profits grow, which will be an encouraging sign (Bostwick, 2008). And if there are financial difficulties, a well-kept accounting system can help the owner pinpoint where the problems
are before little problems become large ones. Needless to say, its helpful to have an accounting staff, or at least an
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