Archive about 'Types Of Organization'
Tweet Click to the respective topic on Types Of Organizations: Content Page On TYPES OF ORGANIZATIONS 1.0 Understand the SOLE-PROPRIETORSHIP type of oranization structure Part 1 2.0 Understand the PARTNERSHIP type of organization structure Part 2 3.0 Understand LIMITED COMPANIES types of organization structure Part 3 4.0 Know the difference of financial statements between Sole […]
Tweet Malaysian Co-operative societies needs to comply to the Societies Act which includes the following: The co-operative societies are required to prepare within two months of the completion of the financial year and present their annual accounts to their members The financial statements specified are: Trading and profit and loss accounts, Statement of source and […]
What Is The Reason For Preparing A Profit and Loss Appropriation Account/Statement For A Partnership and Why Not For a Sole Proprietorship.
Tweet Why do I need to prepare the Profit & Loss Appropriation for a partnership which is not required under a sole proprietorship organization:Answer: Compared to a partnership there is no necessity to prepare a profit and loss appropriation account as the profit and loss appropriation account is basically to set up the SHARE OUT of […]
What Are Some Of The Items That Need To Be Included In The Partnership Agreement. If the event where there is no such partnership agreement, how does this being covered under the Malaysian Partnership Act 1961,
Tweet Answer: What items to be included in a usual partnership agreement? Generally, the following are the important items that need to be included in any partnership agreement: Amount of capital to be contributed by individual partner; Profit sharing ratio; Salaries to be paid to the partners; Interest on capital contributed; Interest on loans from […]
Tweet Tabulated below are the major differences of the financial statement of a Partnership and Limited Company: Partnership Limited Company More than one capital account. The number of capital account depends on the number of partners in the Partnership concern. Shareholders fund which comprises many categories like share capital, retained earnings, other revenue and capital […]
Tweet Tabulated below are the major differences of the financial statement of a Sole Proprietorship and Partnership: Sole Proprietorship Partnership Only one Capital Account More than one capital account. The number of capital account depends on the number of partners in the Partnership concern. All the profit belongs to the owner Profit & loss is […]
Tweet Tabulated below are the major differences of the financial statement between a Sole Proprietorship and a Limited Company Sole Proprietorship Limited Company The owner’s equity has only one item which is the owner’s equity account Shareholders fund = Share Capital + Retained Earnings + Other Revenue & Capital Reserves Tax on the income of […]
Tweet Various Type Of Organization Structure A business may be carried on in any one of the following form: 1. Sole proprietorship (Part 1 of 3) 2. Partnership (Part 2 of 3) 3. Limited Company CHARACTERISTIC OF A LIMITED COMPANY A limited company is incorporated and governed under the Companies Act. It can be categorized […]
Tweet Various Type Of Organization Structure A business may be carried on in any one of the following form: 1. Sole proprietorship (Part 1 of 3) 2. Partnership 3. Limited Company CHARACTERISTIC OF A PARTNERSHIP: 1. A partnership is not a legal entity such that the partnership has to sue or be sued in the […]
Tweet Various Type Of Organization Structure A business may be carried on in any one of the following form: Sole proprietorship Partnership Limited Company CHARACTERISTIC OF A SOLE PROPRIETORSHIP 1.The business is solely owned by one person; 2.Management rests on that one person, 3.If such a business fails or is declared bankrupt, the creditors can […]