You have been recognized as an expert on the various types of businesses. A community college instructor has asked for your help. She wants you to create a reference document she can give to students as they study this topic.
Create a chart containing the three forms of business organizations: proprietorships, partnerships, and corporations.
Identify key users of financial information, and briefly explain their roles.
Describe how the key users within each organization use fundamental concepts of accounting in the health care environment.

Cite 3 peer-reviewed, scholarly, or similar references to support your assignment.
Format your references according to APA guidelines.

ANSWER                       

                          A Reference Document on The Various Types of Businesses

A chart containing the three forms of business organizations

Figure 1A chart containing the three forms of business organizations

The key users of financial information and their roles

• Customers – Most prospective customers will want to review a firm’s financial information to see if it is stable enough to be a long-term supplier.
• Employees -Employees want to review the information to make decisions regarding the company and a stable employer(Niliam, 2020). This can help increase their level of interest and participation in the business.
• Governments – The government jurisdictions where a firm operates may request data and relevant information to determine whether a firm paid the required amount of taxes (Kayode, 2015).
• Investment analysts. – They are essential to a firm since they help determine whether an organization would be a good investment for their clients to invest in.
• Investors- They may want to examine the information to make certain decisions regarding whether the business will continue to grow and perform well enough to justify their investment decision or whether they should sell off their investments to a third party(Kayode, 2015).
• Lenders and creditors may require this information to determine whether to extend credit to the business and determine the exact amount necessary to lend.
• Management team –They may require such information to make both operational and financial decisions for the company.

How the key users within each organization use fundamental concepts of accounting in the health care environment

The fundamental concepts of accounting include assets, liabilities, and capital. The three are vital for a health care environment (Macinati & Anessi-Pessina, 2014). They help the health institution manage themselves effectively and ensure that all their finances are well monitored for the sake of the wellbeing and growth of the institution. The concepts also provide effective navigation of the intricate system of the payers, scanning of private insurers, and running government programs. The fundamental concepts also ensure that healthcare providers are held accountable for the cost and quality of their services.

References

KAYODE, M. K. (2015). The Users of Accounting Information and their Needs. An Introduction to Accounting and its Branches. Retrieved from https://www.grin.com/document/306839

Macinati, M. S., & Anessi-Pessina. (2014). Management accounting use and financial performance in public health-care organisations: Evidence from the Italian National Health Service. Health Policy,. 117(1), 98-111.

Niliam, M. (2020). 8 Main Users of the Financial Statements. Retrieved from https://www.accountingnotes.net/financial-statement/8-main-users-of-the-financial-statements-company/13476