Apply the basic principles of personal and corporate taxation. Create and interpret financial statements including balance sheets, profit and loss account statements; budgets; and cash flow statements for single entities Compare and contrast different types of business entities such as sole trader, partnership, limited liability partnership, and limited company and alternative methods of financing. Develop a sound marketing strategy based on investigation and critical evaluation of existing markets that realises opportunity and maximises profit and business reputation. Demonstrate Leadership through a range of professional skills including communication; motivation; decision-making and managing organisational politics.

Assessment Brief

You will individually (and all your own work, avoiding plagiarism) write an essay on the following:

From the range of UK business vehicles available, e.g. public company, private company, partnership, sole trader etc you should choose two and compare and contrast these two different types of business structure for suitability for a new but potentially fast growing start up. You could e.g. justify why you have chosen these two from the range available using the techniques learnt in your formative exercise (decision matrix or similar).

Your theoretical startup will probably be active in a Technical (“STEM”) area. If you wish to describe a start up in a non-STEM area, then you are recommended to discuss this with your lecturer first.

It is advised that you do not describe actual companies, but rather consider an abstract scenario. However you are welcome to illustrate specific points in your essay with reference to a real-life example and at each point you may give brief supporting details of your “case study” examples in an appendix.

The factors you should consider include a range of economic, international, technological, commercial and management issues which will influence the choice of business structure, especially if the activity is transnational. You have covered all these topics in the module and the coursework will test if you have followed the lectures.

Your report body should not exceed 6,000 words and any appendix not more than 1,000 words. Each of the 8 criteria listed below is worth up to 12.5% of your final mark. The marks you receive for each one is determined by the official KU grading criteria A-F with finer marking within each grade category.