You are a semi senior member of staff at the Accounting firm

Assignment Task:You are a semi senior member of staff at the Accounting firm “Turpin, Barker and Armstrong based in Sutton. You have been appointed to deal with a pair of new prospective clients who have inherited quite a substantial sum of money from their grandfather’s will.These two are brothers want to set up a business but have no knowledge as to what type of business they want to get into let alone the form of business entity available to themAs a Semi-Senior member of the accounting staff, you are required to write a report to be delivered by your firm to these brothers explaining the issues below:· Explain the different forms of business units(sole proprietorship, partnership, limited company) available, highlighting the benefits and limitations of each (20 marks)· Explain financial accounting and management accounting, highlighting the differences between the two strands of accounting (20 marks)· Assuming that you have not been given any information about the inheritance of the brothers. Explain the sources of finance available to a business owner, looking at Short-term sources, Medium-term sources and Long-term sources of finance giving examples of each. (30 marks)· Style, layout, format (Report writing format expected) and relevance (5 marks)· Introduction, conclusion and Recommendation (15 marks)· Referencing – Harvard Style (10 marks)Learning outcomes to be examined in this assessmentDescribe and analyse the role of accounting information in a business context.2000 words