Skip to Main Content
Bookkeeping All-in-One For Dummies, 2nd Edition
book

Bookkeeping All-in-One For Dummies, 2nd Edition

by Lita Epstein, John A. Tracy
August 2019
Intermediate to advanced content levelIntermediate to advanced
608 pages
15h 28m
English
For Dummies
Content preview from Bookkeeping All-in-One For Dummies, 2nd Edition

Chapter 3

Exploring Business Structures

IN THIS CHAPTER

Bullet Looking at sole proprietorships

Bullet Taking a look at partnerships

Bullet Checking out limited liability companies

Bullet Comparing different types of corporations

Bullet Seeing what happens when a company decides to go public

All businesses need to prepare key financial statements, but some businesses can prepare less-formal statements than others. The way a business is legally organized greatly affects the way it reports its financials to the public and the depth of that reporting.

For a small business, financial reporting is needed only to monitor the success or failure of operations. But as the business grows, and as more outsiders — such as investors and creditors — become involved, financial reporting becomes more formalized until the company reaches the point at which audited financial statements are required.

Each business structure also follows a different set of rules about what financial information the business must file with state, local, ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Bookkeeping All-In-One For Dummies

Bookkeeping All-In-One For Dummies

Consumer Dummies

Publisher Resources

ISBN: 9781119592907Purchase book