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    Preparing The Proper Ethical and Legal Foundation Chapter 3

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    Bob Bin
    The document outlines several initial ethical and legal issues facing a new firm, including establishing an ethical culture, choosing an attorney, drafting a founders agreement, avoiding disputes, obtaining licenses and permits, choosing an organizational form, assessing strengths and viability, and an introduction to financial management and statements. It discusses leading by example, establishing a code of conduct, implementing ethics training, grouping legal matters, assisting attorneys, using non-lawyer professionals, putting everything in writing, and setting standards. It also briefly introduces financial objectives, processes, historical statements, income statements, balance sheets, cash flow statements, comparing results to norms, and forecasting sales and costs.

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    Preparing The Proper Ethical and Legal Foundation Chapter 3

    Uploaded by

    Bob Bin
    249 views7 pages
    The document outlines several initial ethical and legal issues facing a new firm, including establishing an ethical culture, choosing an attorney, drafting a founders agreement, avoiding disputes, obtaining licenses and permits, choosing an organizational form, assessing strengths and viability, and an introduction to financial management and statements. It discusses leading by example, establishing a code of conduct, implementing ethics training, grouping legal matters, assisting attorneys, using non-lawyer professionals, putting everything in writing, and setting standards. It also briefly introduces financial objectives, processes, historical statements, income statements, balance sheets, cash flow statements, comparing results to norms, and forecasting sales and costs.

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    Preparing the Proper Ethical and Legal Foundation Chapter 3

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    The document outlines several initial ethical and legal issues facing a new firm, including establishing an ethical culture, choosing an attorney, drafting a founders agreement, avoiding disputes, obtaining licenses and permits, choosing an organizational form, assessing strengths and viability, and an introduction to financial management and statements. It discusses leading by example, establishing a code of conduct, implementing ethics training, grouping legal matters, assisting attorneys, using non-lawyer professionals, putting everything in writing, and setting standards. It also briefly introduces financial objectives, processes, historical statements, income statements, balance sheets, cash flow statements, comparing results to norms, and forecasting sales and costs.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    249 views7 pages

    Preparing The Proper Ethical and Legal Foundation Chapter 3

    Uploaded by

    Bob Bin
    The document outlines several initial ethical and legal issues facing a new firm, including establishing an ethical culture, choosing an attorney, drafting a founders agreement, avoiding disputes, obtaining licenses and permits, choosing an organizational form, assessing strengths and viability, and an introduction to financial management and statements. It discusses leading by example, establishing a code of conduct, implementing ethics training, grouping legal matters, assisting attorneys, using non-lawyer professionals, putting everything in writing, and setting standards. It also briefly introduces financial objectives, processes, historical statements, income statements, balance sheets, cash flow statements, comparing results to norms, and forecasting sales and costs.

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    You are on page 1of 7

    Initial Ethical and Legal Issues Facing a New Firm Establishing a strong ethical culture for a firm i.

    . Lead by example ii. Establish a code of conduct iii. Implement an ethics training program Ethical dilemma

    Choosing an Attorney for a firm

    Group together legal matters ii. Offer to assist the attorney iii. Ask your attorney to join your advisory board iv. Use non lawyer professionals Drafting a founders agreement Avoiding Legal disputes
    I.

    Meeti ng all Contractual Ob ligations ii. Get everything in writing iii. Set Standards Obtaining Business Licenses And permits Choosing a form of Business organisation a.Sole Properietorship b. Partnerships
    i.

    General partnerships II. Limited Partnerships Corporations 1.C Corporation 2. Subchapter S corporation Limited Liability company
    I.

    Assesing a new Ventures Strength and Viability


    Introduction to Financial Management a. Financial Objectives of a firm 1. Profitability 2. Liquidity b. Process of financial Management Financial Statements and Forecasts a. Historical financial Statements b. Income Statement

    c. Balance sheet d. Statement of Cash flows e. Comparing a Firms Financial Results to Industry Norms Forecasts Sales Cost of sales and other items

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