Archive about 'Types Of Organization'

Financial Statements Of The Malaysian Co-operative societies

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 [...]

What Is The Reason For Preparing A Profit and Loss Appropriation Account/Statement For A Partnership and Why Not For a Sole Proprietorship.

Answer: Why do I need to prepare the Profit & Loss Appropriation for a partnership which is not required under a sole proprietorship organization:
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 the profits/(loss) [...]

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,

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 partners
Drawings
Interest on drawings,etc

In the event, there is no [...]

List Of Topics Under The Heading Types Of Organization Structure

Click to the respective topic on Types Of Organizations:

Content Page On TYPES OF ORGANIZATIONS

1.0

Understanding various types of oranization structure Part 1

2.0

Undertanding various types of organization structure Part 2

3.0

Understanding various types of organization structure Part 3

4.0

Know the difference of financial statements between Sole Proprietorship and Limited Companies

5.0

Know the difference of the financial statements between Sole [...]

Major Difference Of The Financial Statement between Partnership And Limited Company

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 reserves.

Profit & loss is distributed [...]

Major Difference Of The Financial Statement between Sole Proprietorship And Partnership

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 [...]

Difference Of Financial Statement between Sole Proprietorship And Limited Company

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 the owner/sole proprietor

A limited company is [...]

Types Of Organization Structure-Limited Company ( Part 3 of 3)

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 as follows:
 

A company limited by [...]

Types Of Organization Structure- Partnership ( Part 2 of 3)

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 names of the partners;

2. [...]

Understanding Various Types of Organization Structure (Part 1 of 3)

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 sue the [...]