One of the first subjects covered in a business class is the various types of business structures. Business structures include sole proprietorships, partnerships, corporations, limited liability companies and S-corps. A business class teaches students the differences in each structure and the advantages and disadvantages of each. Students also learn how to compare each structure in order to choose the best possible structure for a particular business.
A business class also teaches students how businesses are formed. It generally teaches students how to form a particular type of structure and the requirements for each. This includes the number of owners a business has, how businesses raise money to invest into their businesses and how each type of business structure is dissolved.
One major project of many business classes is writing a business plan. A business plan is an important document needed when a person decides whether or not to open a new business. A business class normally teaches the purpose and significance of creating a business plan and how to do it. A business plan is needed to obtain financing for a new business and it contains several key elements. Some of these elements include an executive summary of the business and a market analysis. It also contains the company description and financial information, such as projected sales and expense amounts.
Business classes often touch on several different accounting concepts. Students often learn the components of an accounting system, including information about debits and credits, transactions and what the general ledger is. Students also learn about the common financial statements organizations use. This includes the income statement, balance sheet and statement of owner's equity. Business classes normally teach the components and purpose of each different type.