MGTA01H3 Lecture : Lecture 4

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pearwater-buffalo542

13 Jun 2011

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MGTA01H3 Full Course Notes

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A business owned and operated by a single person. The business is really an extent of you. If the business is failing, costs growing or revenues shrinking then the person has to pay the debts. It is easy to set up + cheap. Accounting aspects that need to set up before the business is started. Hst /sales taxes ontario moved to the harmonized sales tax. Companies have to charge hst on all applicable goods and services and then remit those to the government. Banks don"t take risks: they make money on the transfer of money. Two methods of financing 1) wealthy relative 2) the bank. lends you money when you have an asset (collateral) as part of the condition on debt default. If not in a position to get a mortgage, you develop a good credit rating. Start with what they give you and have track record of risk .

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MGTA01H3 Lecture : Lecture 4

MGTA01H3 Full Course Notes

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