A LLP is a special form of partnership that states all partners are limited partners who stand to lose only the money that they invested to start the business (Cheeseman‚ 2011). LLPs are limited to professionals such as doctors‚ lawyers‚ and attorneys (Cheeseman‚ 2011). To create their LLP the must file an articles of partnership with the secretary of state where they will be operating their business. LLPs are required to carry a large sum for liability
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Hwk Assignment #1 Case 1-5 Reneging on a Promise Part A Billy Tushoes recently received an offer to join the accounting firm of Tick and Check LLP. Billy would prefer to work for Foot and Balance LLP but has not received an offer from the firm the day before he must decide whether to accept the position at Tick and Check. Billy has a friend at Foot and Balance and is thinking about calling her to see if she can find out whether an offer is forthcoming. Question 1. Should Billy call his friend? Provide
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This report is specified towards accounting and anatomizing the external and internal drivers from 2002 to 2008 for ‘Deliotte & Touche LLP‚ a United Kingdom member firm of DTT because of the business’s heterogeneous nature of operations. However DTT has also been the subject of this report where global trends on wide spectrum are analyzed. Deliotte & Touche LLP has been remarkably successful since its foundation. The success factors that are pre-dominantly present ever since are innovation‚ diversification
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limited liability are different and distinct from a sole proprietorship‚ partnership‚ and corporation. The purpose of the subject is to explain the roles of limited liability corporations (LLC) and partnerships (LLP)‚ and discuss under what circumstances one would choose to use an LLC or LLP to establish his or her own business. Limited Liability Companies Limited liability companies gained recognition because they have similar characteristics of corporations allowing owners limited personal liability
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Written Case Analysis Due Case: “Team Collapse at Richard‚ Wood and Hulme LLP” 1. OVERVIEW AND ANALYSIS: A senior associate at Richard‚ Wood and Hulme LLP (RWH) was amazed at the speed with which the audit team for an important client for the firm was rapidly falling apart. Two members had just been fired presumably because they did not pass their chartered accounting qualification examination; team morale had become non-existent; there were difficulties in completing the engagement due to lack
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Entities‚ Laws‚ and Regulations Paper Businesses can originate or expand into several types of entities. General or limited Partnership‚ Sole Proprietorship‚ Corporation‚ Limited Liability Company (LLC)‚ Limited Liability Partnership (LLP) and franchises. Each style has its own advantages and disadvantages concerning liability‚ government laws and regulations‚ and taxation. The businesses discussed in this paper vary in operating styles and each must follow different guidelines. The
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Barclays Capital‚ Houlihan Lokey and Ernst and Young LLP are acting as financial advisors‚ while Clifford Chance LLP‚ Cravath‚ Swaine & Moore LLP‚ Gibson‚ Dunn & Crutcher LLP and Arnold & Porter LLP are acting as legal advisors to Kraft Foods. Brunswick Group is acting as public relations advisor to Kraft Foods. Goldman Sachs‚ Morgan Stanley‚ and UBS AG are acting as financial advisors. Freehills‚ Slaughter and May and Shearman & Sterling LLP are acting as legal advisors to Cadbury on this
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Business Entities‚ Laws‚ and Regulations Paper Dorian Rowe BUS/415 Shaun Koenig November 14‚ 2011 Businesses in every industry have to deal with entities‚ laws‚ and regulations. Management teams have to take into account items such as consideration of control‚ taxation‚ and liability issues among others. The purpose of this paper is to discuss the restaurant/bar‚ professional practice‚ and construction scenarios. For each scenario the business entity that represents the best choice for each
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transmitted in real time application interfaces. 2. The reader should understand what are Lower Level Protocol (LLP) when discussing the transmission of the HL7 Messages. 1 HL7 eLearning Course Data Exchange Standards • Lower Layer Protocol (LLP) is the most common mechanism for sending unencrypted HL7 message over a local area network‚ such as those found in a hospital. • Lower Level Protocol (LLP) sometimes referred to as minimal Lower Level Protocol (MLLP)‚ is the absolute standard for transmitting
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THE LIMITED LIABILITY COMPANY A popular form of business‚ especially with small businesses‚ is the hybrid form of business‚ the limited liability company (LLC) or a limited liability partnership (LLP)‚ which combine the best features of a partnership and a corporation. In 1988‚ the Internal Revenue Service (IRS) ruled that the LLC may be treated as a partnership for tax purposes‚ while retaining its limited liability for its owners. Since this ruling‚ every state has passed legislation permitting
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