this course helps the students learn more about business.

1. Lesson 3 - Functions of
Financial Management

2. ROLE OF FINANCE MANAGER

3. THE FINANCE ORGANIZATION

4. CORPORATE GOVERNANCE

5. Lesson 4: Forms of Business
Organization

6. PROPRIETORSHIP
Among the advantages of a sole
proprietorship are:
1. Ease of entry and exit
2. Full ownership and control
3. Tax savings
4. Few government regulations
Major disadvantages of the proprietorship
form include:
1. Unlimited liability
2. Limitations in raising capital
3. Lack of continuity
A sole proprietorship is a
business owned by a
single person who has
complete control over
business decisions. This
individual owns all the
firm's assets and is
responsible for all its
liabilities.

7. PARTNERSHIP
Advantages of a partnership
include among others the
following:
1. Ease of formation
2. Additional sources of capital
3. Management base
4. Tax implication
Disadvantages of partnership
are:
1. Unlimited liability
2. Lack of continuity
3. Difficulty of transferring
ownership
4. Limitations in raising capital
A partnership is a legal
arrangement in which
two or more persons
agree to contribute
capital or services to the
business and divide the
profits or losses that may
be derived therefrom.
Partnership may be
either general or limited.

8. CORPORATION
Advantages of a corporation are:
1. Limited liability
2. Unlimited life
3. Ease in transferring ownership
4. Ability to raise capital
Disadvantages of a corporation
include:
1. Time and cost of formation
2. Regulation
3. Taxes
A corporation is an
artificial being created by
law and is a legal entity
separate and distinct
from its owners.