Types of corporate business structures include General corporations, Subchapter S corporations, and Limited Liability corporations. Each type is explained. Pros and cons of the Subchapter S corporations are included.
Professor Rick Johnston begins a series on financial accounting. In this first installment, he introduces basic accounting terms and financial statements. Johnston also explains the different audiences for financial statements and how to use the statements to analyze a company's performance.
After watching this video, viewers will have a grasp of the matching concept, which helps avoid misstated earnings for a period, and the accounting cycle, which helps identify errors and provide the data needed for income statements and balance sheets.