ACCOUNTING PROJECT by Serzh Mkhoyan TITLE After suitable research,briefly explain the structure of business organisations and give the legal requirement as far as informing stakeholders as to the business financial activities.
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INTRODUCTION
Anyone who is intended to enter the business world,should know that there are 5 types of business organisations that he or she needs to take under consideration.
Those legal structures are: sole trader,partnership,partnership with limited liability(LLP),private limited company (LtD) and public limited company (PLC).
This project will explain in detail the structure of those organisations,list the documents required to set up every single one of them and will also mention about financial accounts needed to inform stakeholders about the business activities.
1) SOLE TRADER
A man who has started working for himself is considered as a sole trader.
Sole traders have unlimited liabilities,meaning that in terms of law there is no separation between them,hence the sole trader is also liable for the debts incurred within the business, which makes it very risky to run for a long-term.
Sole trader company follows a set of rules which can both benefit the owner
Having the appropriate structure is vital for an organisation or business to meet its aims and objectives. A business may be structured by:
There are many differences between business organisations, beginning with the purpose and goals of an organisation. Business organisations belong to various different categories including the private, public and non-profit sectors. This assignment will discuss a business organisation from each of those sectors, outlining the purpose, objectives, and stakeholders of each. It will also discuss the different ways that global factors and market structures can impact each of those companies.
Part II: Make your recommendation as to what form of organization you believe will be best and be sure to explain the reasoning for your choice.
Private Limited Companies are normally owned or founded by family & friends and usually based within a household. PLCs can have stock and shareholders, although, their shares are not traded on public exchanges.
There are many types businesses in this world; these include Sole trader, Plc, Ltd, Partnership, Co-op and
In this report I aim to produce a large organisation that will, if created, be successful within its market. I shall search and provide relevant background research and empirical evidence to help create the organisation. The main aims for this report are to produce an organisational and management structure that is appropriate for the company I aim to create.
Organizational structure Organizational
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Describe the ownership of the businesses - Sole trader, partnership, private or public limited company – definition Incorporated or unincorporated? Shareholders or no shareholders? Limited or unlimited liability – definition and explanation. Brief advantages and disadvantages for this ownership for the business organisation.
Choosing the appropriate structure of the business practice is a complex exercise and a whole range of factors need to be analysed. One must not only analyses current circumstances, but also consider the future plans and the effect of the business structure on these future plans. Following is the brief overview of the factors which should be considered before finalising the business structure.
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A cooperative might too be defined as commerce owned and forbidden evenly by the citizens who employ its services or by the populace who employment there.