reviewed and interpreted by investors‚ stockholders‚ banks and other potential creditors and also promotes creditability of a company and precisely reflects its financial position. Here are some of the basic accounting principles and concepts: Business Entity: This principal treats the company as a stand-alone unit‚ separate from its owners and other businesses. Personal accounts of owners/partners should be separated from profits and expenses of the company. Cost: This principle states that the
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Instructor: TONY MOSES In today’s economy there are many decisions business owners have to make in order for their business to sustain and grow. With that being said‚ business owners are now looking at the operations and structure of their business more frequently and carefully. Deciding location‚ the type of business‚ the finances to operate this business‚ has become a bigger decision when it comes to wanting to develop an operating business. This paper will define Limited liability corporations and partnerships
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PROPRIETORSHIP: This is the simplest business structure of which the owner has total control. The owner can make up a fictitious name or use the same name for the business. Sole proprietorship is easy to set up at a minimal cost. The business owner does not need to follow rules or regulations of others but their own and can set up their own schedule. Proceeds can be directly deposited into the owner’s bank account and the funds are freely allocated between business and personal accounts. The sole
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companies and register businesses as well as to provide company and business information to the public. As the leading authority for the improvement of corporate governance‚ SSM fulfils its function to ensure compliance with business registration and corporate legislation through comprehensive enforcement and monitoring activities to sustain positive developments in the corporate and business sectors of the Nation. SSM Profile “Meets Business Needs through Effective‚ Registration‚ Information‚ Regulation
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Joint Venture There are many good business and accounting reasons to participate in a Joint Venture (often shortened JV). Partnering with a business that has complementary abilities and resources‚ such as finance‚ distribution channels‚ or technology‚ makes good sense. These are just some of the reasons partnerships formed by joint venture are becoming increasingly popular. A joint venture is a strategic alliance between two or more individuals or entities to engage in a specific project or undertaking
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using one of the ethical forms of reasoning that we have discussed in class. (For your convenience‚ the four types of ethical reasons discussed in class are set out below.) In particular‚ make an argument about whether the likely legal result in this case is also an ethical result. If the result is unethical‚ what could be done to address the situation? 3 ADDITIONAL RESOURCES Four types of ethical reasoning Consequences: we should promote good consequences and avoid bad ones‚ for all concerned
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of the company) * Shall exercise reasonable care‚ skill and diligence with the knowledge and experience * Duty to disclose all material information and various interest in the business conduct * Power to delegate | * Encik Zayed and Puan Hashimah must know what are their duties and responsibilities * All types of incorporated companies * The need to comply with the applicable standards and regulations * Enhance corporate governance * Matters regarding powers of the: * registrar
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1. A major advantage of the partnership form is that the personal assets of the partners are protected from creditors in case of legal action- False 2. A partnership is considered an “entity” for accounting purposes- True 3. “Mutual agency” means that one partner can legally bind all the other partners to a contract if it appears that he or she is acting appropriately- True 4. Partners are taxed on their drawings regardless of their share of the income. False 5. If a partnership agreement
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LEarNING OBJECtIVES After studying this chapter‚ you should understand: LO1 The basic types of financial management decisions and the role of the financial manager. LO2 The goal of financial management. LO3 The financial implications of the different forms of business organization. LO4 The conflicts of interest that can arise between managers and owners. I NTRODUCTION TO CORPORATE FINANCE mortgages getting into financial difficulties and 1 Overview of Corporate Finance Pa rt 1 IN 2007‚ A
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while remaining separate entities. These alliances may be either formal or informal which may involve a written contract. A joint venture is cooperative endeavor entered into by two or more business entities contributing equal equity to form a new legal entity. Some advantages are: to gain capabilities‚ easier access to target markets‚ sharing the financial risk‚ achieving synergy‚ and competitive advantage. Strategic alliances and joint ventures are two commonly used business partnership structures
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