of the most common business types are:Sole Proprietorship, Partnership, Corporation, and LLC’s.
practice good business ethics and you should never get into any
trouble.Understanding what is considered
“non-ethical” will help in your future decisions.
some of the most common economics terms, and economy basics, can help you
understand the effect it can have on your company.You might be able to make sound hiring
decisions based on economic news.It will also help you be able to participate in economic discussion
with upper management, etc.
will be times when you are in an upper management meeting, or listening to
a company wide CEO conference call, where many financial terms are used.You should know and understand the most
commonly used terms and theory like EBIT, EBITDA, Margins, ROI and Bottom
line.Most of the terms used are
related to the Balance Sheet and Income Statement.Ratios are also used to determine
percentages, which can be compared with industry standards.
how finance and accounting practices are associated with your yearly
budget.You need to know how the
budget process works to not only talk the talk, but to make sure you are
not cutting yourself too short, or looking bad asking for too much.Even though a lot of the information
covered in this lesson may never pertain to you, the more you learn and
understand, the more confident you will be whenever financial issues are
LESSON 8 - BUSINESS BASICS PART I - BUSINESS TYPES, ETHICS & LAW, ECONOMICS, FINANCE & ACCOUNTING
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