Literature Review - Forms of Business Essay Example | Topics and Well Written Essays - 1750 words

Literature Review - Forms of Business - Essay Example Because of this, an accountant must understand the different forms of business so they are able to provide the best information for the particular business. There are many different types of business structures. These include sole proprietorships, partnerships, and limited liability companies. In order for an accountant to do well with business, he or she needs to understand how each of these business structures work. Relationship of the Topic to Future Career Goals I have chosen this topic because accountants are needed all over the world. Many organizations provide many services for profit. Of course, accountants are also needed in the non-profit sector so the prospects for careers are endless. Many companies have gone bankrupt because they did not do well with their money. For example, companies like Enron, Qwest, and others had problems because they did not handle their financial affairs well. Because of this, an accountant can specialize in many different areas. An individual co uld decide to become a financial accountant, a managerial accountant or a cost accountant (Peavler, 2013). The field of accounting seems very open and it seems more dependent on an individual’s decision as to which aspect of the field they choose as a career. I wanted to investigate the different business structures and focus on the advantages and disadvantages of each one. Accounting is a basic principle of economics and can be viewed on different levels. For example, a company will use accounting, but an individual may also use an accountant to take care of everyday needs. Many people use accounting for calculating their taxes, making decisions, and understanding their stocks and bonds. This literature review will continue to develop the differences between the business structures and provide an understanding of the main characteristics and the advantages and disadvantages of each of these structures. Sole Proprietorship A sole proprietorship is generally the organizational structure that someone takes who is just beginning a start-up company. This allows the individual to have a business name and use their own social security number or register with a business number. A sole proprietorship allows an individual to operate as a business and to take all the profits. One person runs the business and therefore is responsible for any losses or debts that the business incurs. Advantages of a Sole Proprietorship The literature review provides a variety of ways that a sole proprietorship has its advantages and relates to accounting. Amato (2013) states that sole proprietorships need to do succession planning although they are the only ones running the business. Amato states that sole proprietors must understand that there is a need for them to name someone who will take over the business when they want to leave it, if they are not selling it. Hendrix (2012) states that a sole proprietorship is the easiest form of business to start because the owner and the bu siness are the same entity. LaMance (2012) states several advantages of a sole proprietorship. The owner does not have to do separate business tax forms, sole proprietors can hire employees and they can receive tax breaks for hiring people. Also, the owner of the business is the only one responsible for making decisions in the business. Disadvantages of Sole Proprietorship LaMance (2012) states that there several disadvantages of sole proprietorsh

Did Imperial Germany remain a 'disunited nation' until 1914 Essay

Did Imperial Germany remain a 'disunited nation' until 1914 - Essay Example Although imperial Germany was held together by the brilliant diplomatic policies of Bismarck, it is a fact that there was too much diversity and suspicion in Germany. The political and religious conflicts left Germany a disunited nation and created an environment of hatred and one-upmanship that resulted in isolation of many minorities such as German Jews and the Catholics.2 The causes of the disunited state of Germany lie with its very unification process. Although there did exist a common language in the region, the unity of Germany didn’t manifest itself before Napoleonic wars. The resentment towards French occupation made German speaking people realize the need for freedom.3 This could only be possible if German speaking states of Prussia and Austria came together and formed a separate country. There also occurred many other significant events which promoted feeling of unity among German people. The Prussian empire had achieved military success in three separate wars. Peop le were also influenced by the rise of French nationalism which followed the French revolution. A sense of unity cannot exist if the different societies or communities are not aware of each other’s existence. ... The development and spread of German literature identified the existence of Germany. The literary works of The Brothers Grimm and Karl Baedekar glorified the natural beauty and cultural heritage of various German states. There were many common grounds of which formation of a German state was an inevitable consequence. But there were many factors which dampened any sudden rise of nationalism. For long, the two German empires of Austria and Prussia had been involved in political and economic rivalry. A great deal of ‘threshold’ energy was required to break the current sequence of political pattern and motivate people to aspire for a single country. The remarkable leadership of Bismarck and his manipulation of events in 1866 and 1870 led to the creation of the imperial Germany.4 The initial years of the imperial Germany were marked by huge divisions at various levels. To begin with, there was stark contrast in the economic status of Germans. The rich class of Prussian landl ords and elites continued to exercise significant amount of influence over the political structure of the new empire.5The junkers, as they were called, were immensely powerful as the formation of the German empire occurred without any political upheaval or social revolution. Unlike other revolutions, there wasn’t any redistribution of land or restructuring of the political system. The diversity of a country cannot be counted as the only sign of disunity. There are many countries in the world which have class conflict but they stay together. Even the revolutions such as French revolution and Russian revolution don’t create a disunited country. The revolutions may increase or decrease the territorial size of a country but they hardly have an impact on the very concept of a