Task Team of FUNDAMENTAL ACCOUNTING School of Business. Sun Yat-sen University There are three major forms of enterprise: Sole-proprietorship, Partnership, Corporations And there are four types of enterprise: Service organization provides services( does something for you) rather than selling something; merchandising business buys goods, adds value to them, then does not make tangible products and does not sell products made by other companies, dea 2 sells them to customers; manufacturer- makes the products it sells; financial services company ated to Resources in an Enterprise Major resources in an enterpri 1. Human resources: properties, plant and equipment, supplies, raw materials, finis products or inventories 2. Financing(financial resources): For instance those in cash or bank dep 3. Resources in material forms Movements of Material Resources in an Enterprise (An example-Beauty Photo Store Movements of Material Resources in an Enterprise 1)Movements in a manufacturing enterprise eposit-→raw materials + work-in-processfinished productsfin-cash/bank deposit 2)Movements in a merchandising enterprise cash/bank deposit-inventory- cash/bank deposit Activities of Enterprise Three major phases of business activities I)Inception ) Operating 3)Liquidate lr Er 1)Inception and investment of funds s External fundingTask Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University There are three major forms of enterprise: Sole-proprietorship, Partnership, Corporations. And there are four types of enterprise: Service organization provides services (does something for you) rather than selling something; merchandising business buys goods, adds value to them, then sells them to customers; manufacturer – makes the products it sells; financial services company does not make tangible products and does not sell products made by other companies; deals in services related to money Resources in an Enterprise Major resources in an enterprise: 1. Human resources: properties, plant and equipment, supplies, raw materials, finished products or inventories 2. Financing (financial resources): For instance those in cash or bank deposits 3. Resources in material forms Movements of Material Resources in an Enterprise (An example-Beauty Photo Store) Movements of Material Resources in an Enterprise 1) Movements in a manufacturing enterprise cash/bank deposit→raw materials →work-in-process→finished products→fin→cash/bank deposit 2) Movements in a merchandising enterprise cash/bank deposit→inventory→ cash/bank deposit Activities of Enterprise Three major phases of business activities: 1) Inception 2) Operating 3) Liquidation Inception of Enterprise 1) Inception and investment of funds * External funding