Accounting work is done in and for organizations, especially business organizations. Its objective is to provide information about the organization’s financial position, performance, and cash flows.
Why this course
Knowledge of business organizations familiarizes the aspiring accountant with realistic expectations of the environment of accounting. Businesses are organized in several ways depending on several factors. Accounting processes depend on the type of business organization and the uniqueness of each determine the scope and nature of accounting work. The accountant must know the type of business organization to determine applicable policies, standards, and regulations.
What you will learn
The course discusses the three dominant types of business organizations, their characteristics, advantages, and disadvantages. Taxation, control by owners, and the ability to raise vast amounts of capital are important considerations in deciding the type of business organization. The course also discusses the organizing process. Accountants are often sought for advice at the organization stage accountant begins before the start of actual operations.