1.Visualize the equity section of the balance sheet. What is the structural difference in this section of a partnership versus a sole proprietorship or corporation? How does an unequal capital contribution affect this section of the balance sheet? Discuss any experience you have had with partnership accounting and any special problems or situations you have encountered.
2. Module One focused on partnerships and this module focuses on corporations. If you were just starting a business, which entity would you choose and why? Discuss any experience you have had with business partnerships and/or corporations and any problems encountered or strong advantages you saw in the entity structure that was chosen.
3. Debt financing versus equity financing is something all growing businesses go through when needing additional capital for working operations, expansions, purchase of equipment, etc. There are advantages and disadvantages of each. If you were in a decision-making position, what route would you take to secure additional funding and why?
1. How does governmental accounting differ from accounting for for-profit companies?
2. Discuss the nature of major fund reporting and the criteria used to determine whether a fund should be reported as a major fund.
3. Discuss the disclosures the GASB requires for capital assets in the notes to the financial statements