Business Mgt.: Thursday 8.15 Reminders Turn in signed syllabus sheet Observational Assessments start today! On PLC schedule still today Today’s Agenda 3 Truths & 1 Lie DocuShare PowerPoint: About Me Presentation Reading Assignment Book Check Out
32
Embed
Business Mgt.: Thursday 8.15 Reminders Turn in signed syllabus sheet Observational Assessments start today! On PLC schedule still today Today’s.
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Business Mgt.: Thursday 8.15Reminders
Turn in signed syllabus sheet
Observational Assessments start today!
On PLC schedule still today
Today’s Agenda 3 Truths & 1 Lie DocuShare PowerPoint: About
Me Presentation Reading Assignment
Book Check Out
Business Mgt: Friday 8.16Reminders
Turn in signed syllabus sheet
Observational Assessments this week!
On PLC schedule still today
Today’s Agenda 3 Truths & 1 Lie Review
Observational Assessment
Vocab Check – Ch. 7 Lecture/Discussion -
Ch. 7 Sharktank…Maybe
Ch. 7 Notes: Types of Business Ownership Before we can learn how to manage a business we
need to understand the different types of businesses. What are they? Sole Proprietorship Partnerships Corporation
C / S / Nonprofit / LLC
Ch. 7 Notes: Types of Business Ownership Sole Proprietorship
Examples? Definition: A business that is owned an operated by
one person Accounts for nearly 76% of all businesses Easy to create Owner receives profits but liable for debts
Ch. 7 Notes: Types of Business Ownership Sole Proprietorship
Advantages Easy to create Complete Authority – One voice No Business Taxes Least Govt. Regulated
Ch. 7 Notes: Types of Business Ownership Sole Proprietorship
Disadvantages FINANCIAL
Unlimited liability for the owner What dose that mean? Full Responsibility – Personal Assets at Risk
Reliant on Skills of the Owner Owner Death Dissolves the Business
Will
Ch. 7 Notes: Types of Business Ownership Partnership
Examples? Definition: A business that is owned an operated by
two or more people - Unincorporated General and Limited Partnerships
General – Unlimited Personal Liability - Manage Limited – Limited Liability to Amount Invested – Not
Involved in Managing
Ch. 7 Notes: Types of Business Ownership Partnership
Advantages Easy to create Complete Authority Amongst Partners – Multiple
Voices Sharing of Ideas, Skills, and Knowledge
Ch. 7 Notes: Types of Business Ownership Partnership
Disadvantages Difficult to Dissolve Partnership w/o Ending Business Personality Conflicts / Disagreements Laws of Agency – Each Partner is Liable for the Other
Ch. 7 Notes: Types of Business Ownership Corporation
Examples? Definition: Registered by a state and operates apart
from its owners. Lives on After Ownership Leave or Die Ownership Equity = Stocks Purchase Goods / Sue and be Sued
Ch. 7 Notes: Types of Business Ownership C-Corporation
Definition: Pays taxes on earnings along with share holders. Most common corporation and it protects the owner’s liability
Shareholders Owners of Stock Majority Stock Holders Make Decisions
Board of Directors Required Makes Decisions
Ch. 7 Notes: Types of Business Ownership C-Corporation
Advantages Limited Liability Ability to Raise Capitol Longevity Tax Advantages Status Professionals
Ch. 7 Notes: Types of Business Ownership C-Corporation
Disadvantages Expensive to Create Heavily Taxed
Double Taxation on Earnings – Business and Shareholders Profits and Dividends
Ch. 7 Notes: Types of Business Ownership S-Corporation
Definition: Corporation that is taxed like a partnership
Advantages Profits Taxed Once
Disadvantages Limited Stockholders (75 US Citizens) One Class of Stock If Profits Don’t Cover Taxes, Owners Must Cover
Difference
Ch. 7 Notes: Types of Business Ownership Nonprofit Corporation
Definition: Makes money for reasons other than the owner’s profit Benefit a cause Profits can be made but must remain within the
company
Ch. 7 Notes: Types of Business Ownership LLC
Definition: Limited liability by owners. Similar to combination of corporation and limited partnership
Easier to Establish Compared to a Corporation Flexibility of Partnership Structure Not Liable for Company Debts Profits taxed Personally Not Limited to 75 Members Example – Law Firms
Business Mgt: Monday 8.19Reminders
Turn in signed syllabus sheet
Ch. 7 Vocab √ Observational
Assessments start today!
Back to Normal Schedule
Today’s Agenda 3 Truths & 1 Lie Review of Friday’s