Research and discuss at least twodifferent forms of business organizations (ex.sole proprietorship, partnership,corporation, LLC, etc.). Discuss why accounting record keepingis important to the success of theorganization and how accounting systemscan help by increasing efficiency andeffectiveness.

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Tod ThielLv2

28 Sep 2019

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Hi everyone, I need some help with my paper for Tax Class, here what the assignment looks like:

The purpose of this tax research assignment is to help you develop skills in researching tax issues. Please answer both of the questions below. The final deliverable for this project will be a written memo which should be at least 2 pages double-spaced, 12 point font, 1â margins. The assignment is due in your Assignments Folder by 11:59 p.m. on the designated due date.

Mandatory Question #2:

Partnership Question: Ashlee, Hiroki, Kate, and Albee LLC each own a 25 percent interest in Tally Industries LLC, which generates annual gross receipts of over $10 million. Ashlee, Hiroki, and Kate manage the business, but Albee LLC is a nonmanaging member. Although Tally Industries has historically been profitable, for the last three years losses have been allocated to the members. Given these facts, the members want to know whether Tally Industries can use the cash method of accounting. Why or why not?

Thank you in advance.

You have been given the task of evaluating and recommending aviable accounting information system for the accounting andfinancial data of your company. As you begin to research thissystem, you realize that many departments are involved in theinformation system. You decide that selecting a team to assist youwith your research would be the most beneficial approach for thecompany.

This module, you begin your course project by selecting a teamto assist you in finding an appropriate accounting informationsystem.

Prepare a summary of the departments that will be affected bythe AIS change and identify their role on your team.

Your team must consist of at least four departments. Discuss theteam members and indicate which departments/roles they represent.Should they be a manager, supervisor, production line worker, etc.?Why?

What are some of the other key characteristics and skills thatthese team members should have and why these are important? Forexample, constantly focuses on the task and always listens toothers, provides valuable input and ideas, etc.

Identify the accounting information provided by and used by eachdepartment.

Your Restaurant Business Discussion

Part 1: Opening Your Own Business

You are considering starting your own restaurant. What are thetypes of business organizations can you choose from? Which onewould you choose, and what benefits and disadvantages would thatform offer you?

Part 2: Accounting for Your Own Business

Throughout the course, you will be working on your ownfictitious businessâa new restaurant! In Part 1 of this discussion,you chose how you would like to structure your business: a soleproprietorship, a partnership, or a corporation. Now, letâs assumeyou have been in business for a short time. Your staff is busycooking, waiting tables, and making your customers happy. Youâllneed to record all of the transactions in order to keep an accuraterecord of how well your restaurant is performing. This importanttask can certainly be done by hand, but there are also a lot ofgreat software programs that can help make the task easier. Evensmall businesses can benefit from accounting/financial software.Research the business software QuickBooks. In your initial post,explain what QuickBooks is and how you feel it could help improveyour ability to track and record transactions in your newrestaurant.

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