Preparing for the Assignment:

As head of your department, you are responsible for disseminating information to your staff. You have decided to create an infographic handout about the 3 types of business organizations to help them learn about the 3 types of business organizations, understand the key users’ roles, and recognize how the different types of business organizations utilize financial information in the day-to-day business operations. 

Assignment Directions:

Use the information from Ch. 1, “Introduction to Financial Statements,” of Accounting to create an infographic in which you:

Describe the following 3 types of business organizations: sole proprietorships, partnerships, and corporations.

Describe 1 advantage and disadvantage for each of the 3 types of business organizations.

Describe the key users (i.e., sole proprietor, partnership, board of directors, CEO, COO, CFO, managers, etc.) of financial information.

Explain the types of day-to-day business decisions made by using financial statements.