following terms: holding company‚ subsidiary‚ ultimate parent‚ group entity‚ sub-subsidiary‚ reporting entity and indirect interest. Holding company: A company whose sole activity is to invest in other companies‚ at least one of which is controlled. Also used as a synonym for parent company. Subsidiary: (a) (b) An entity that is controlled by a parent. For the more elaborate legal definition refer to the Corporations Act‚ s. 46. Ultimate parent: The first level company in a group. It controls
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However‚ contractual joint ventures (especially in relations between Russian and foreign partners) are relatively rare‚ partly due to the unfavourable taxation regime of partnerships.3 Russian law generally does not provide any limitations on the types of economic activity that can be pursued in a joint venture.4 However‚ some industries are subject to special governmental regulation that may directly prohibit or restrict foreign investment‚ as the section below shows. strategically important
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| |This Law provides for the establishment‚ management organization and operation of limited liability companies‚ joint-stock companies‚ | |partnerships and private enterprises (hereinafter referred collectively to as enterprises) of all economic sectors; and groups of companies.| |Article 2.- Subjects of application
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Accounting for partnerships Accounting for partnerships – Discuss the advantages and disadvantages of partnerships. Identify and discuss the Financial Accounting Standards (FAS) that govern accounting for partnerships including both creation‚ operation‚ and liquidation. What are the tax consequences of partnerships. The legal definition of a partnership is pretty simple. It is an association of two or more persons who have not incorporated; and carry on a business for profit as co-owners
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bills‚ the proprietor can be force to sell personal assets as well as the business to pay debts. Management – Advantages: 1) Decisions on starting and running the business can be made quickly. 2) Business operations are less complicated than other types of businesses. 3) There are generally fewer government regulations. Disadvantages: A proprietor must handle all decision making‚ even for unfamiliar areas of the business. This is a severe problem for many sole proprietorships. Taxes - Advantages:
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Southall. There are many private sector companies in Southall such is McDonald’s. We have all heard about McDonald’s but not realised that it was in the private sector. The private sector includes all the businesses set up an individual or a group of individuals. Although most businesses are in the private sector‚ the type of business can vary a lot within the sector. Some can be small independent‚ family – run shops. Others are large multinational companies such as HSBC and BP both which are based
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income tax treatment. Business structures are selected based on the type of business and the intentions of the owner or owners. According to the Small Business Administration‚ there are six types of business structures that are based on the needs of the business that if being formed ("Choose Your Business Structure"‚ 2014). The six types of business structures are Sole Proprietorship‚ Partnership‚ Cooperative‚ Limited Liability Company (LLC)‚ S Corporation‚ and Corporation. Each business structure offers
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Chapter 17 Small Business Organizations N.B.: TYPE indicates that a question is new‚ modified‚ or unchanged‚ as follows. N A question new to this edition of the Test Bank. + A question modified from the previous edition of the Test Bank. = A question included in the previous edition of the Test Bank. TRUE/FALSE QUESTIONS 1. A sole proprietor does not own the entire business. ANSWER: F PAGES: Section 1 TYPE: N BUSPROG: Analytic AICPA: BB-Legal 2. In choosing a form of business organization
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Advantages and Disadvantages of Independent Reps Advantages No sales force maintenance expenses. The travel expenses of a salesperson can be as high as his or her salary. Even phone expenses can be staggering. Therefore‚ the most obvious advantage to employing independent sales representatives to sell your products or services is that you won’t be incurring the expense of maintaining a sales force. There are‚ however‚ other advantages that are just as compelling. Longevity A well-established
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employees in a small firm Fewer than 15‚ Australia Fewer than 50‚ EU Fewer than 500‚ America How is a company defined as a small firm? Market share Number of employees Sales Net profits Assets Typical examples of a small firm Photographers Tradesmen Hairdressers Restaurants Terms related with a small firm LTD = Private Limited Company PLC = Public Limited Company Sole trader Source: http://en.wikipedia.org/wiki/Small_business#Demographics Failure Because
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