...Business Structures Advice Letter FIN/571 July 21, 2014 John Kushner Business Structure: Asking for Advice Dear Consultant, I am currently starting a business and developing my business plan. I'm in need of some advice on how to start forming my business. I am not sure exactly how it will be financed and whether or not I want to take on partners. I am interested and willing to learn the intricacies of my options to determine how to best proceed with my plan. Please advise on what my options are, the advantages and disadvantages of each, and possible tax consequences for each scenario? Respectfully, John Owner Business Structure: Advice Letter July 21, 2014 Dear Mr. John Owner, John, I am in receipt of your letter, and wanted to get back to you with a response to some of your questions. When beginning a business, “YOU” as the owner, must consider what form of business entity to establish. Your business structure determines which income tax return form you have to file. The most common forms of businesses today are the Sole Proprietorship, Partnership, Corporation, and S Corporation. A Limited Liability Company (LLC) is a relatively new business structure allowed by state statute. John, you want to generate revenue of course, but you also have to protect any personal assets you may have in the event of a lawsuit. When I refer to personal assets, I am referring to your house; savings; retirement; car and any other possessions that have significant value...
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...Advanced Corporate Finance [FN2] Examination Blueprint 2013/2014 Purpose The Advanced Corporate Finance [FN2] examination has been constructed using an examination blueprint. The blueprint, also referred to as the test specifications, outlines the content areas covered on the examination and the weighting allotted to each content area. This document also lists the topics, the level of competence for each topic, and the related learning objectives and competencies. The learning objectives have been designed to ensure that the competencies are met. In addition, information is provided on the proportion of each question type presented in the examination (that is, multiple choice, quantitative problems, and so on). Use Candidates should use the examination blueprint to prepare for the course examination. The blueprint may not include all the topics listed in the course materials; however, candidates are still responsible for acquiring a broad-based knowledge of all topics not listed in the blueprint since these topics will be tested in assignment and review questions. The topics not listed in the blueprint will also provide candidates with a greater depth of understanding of finance concepts. Examination Objectives The objective of the 4-hour comprehensive examination is to test CGA candidates on the prerequisite knowledge required for advancement into PA1 and PA2, so as to ensure that the candidates have the broad-based knowledge in finance needed to function properly in the association’s...
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........................................................................................................... 2 PA2 Examination ................................................................................................................................................... 2 PA2 Course ........................................................................................................................................................ 2 Prerequisite Courses for the PA2 Examination .................................................................................................. 3 Competency Weightings ....................................................................................................................................... 3 Structure of the Examination ................................................................................................................................ 5 Examination Competency Coverage ..................................................................................................................... 6 Scoring Model and Evaluation of Candidate Performance ................................................................................... 6 ©CGA-Canada, 2011 1 CGA-Canada PA2 Examination Blueprint 2011/2012 PA2: Strategic Financial Management Examination Blueprint 2010/2011 About the Examination Blueprint The PA2: Strategic Financial Management examination has been constructed using an examination blueprint — a widely accepted...
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...................................................................................................... 2 PA1 Examination ................................................................................................................................................... 2 PA1 Course ........................................................................................................................................................ 2 Prerequisite Courses for the PA1 Examination .................................................................................................. 3 Competency Weightings ....................................................................................................................................... 3 Structure of the Examination ................................................................................................................................ 5 Examination Competency Coverage ..................................................................................................................... 6 Scoring Model and Evaluation of Candidate Performance ................................................................................... 6 ©CGA-Canada, 2014 1 CGA-Canada PA1 Examination Blueprint 2014/2015 PA1: Issues in Professional Practice Examination Blueprint About the Examination Blueprint The PA1: Issues in Professional Practice examination has been constructed using an examination blueprint — a widely...
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...I would advise them to re-examine their entire business plan and organizational structure. The mere idea of introducing a new executive that begins transforming organizational structure and allowing an operations officer to run up a large debt seems asinine. There was a cascading failure from top to the bottom due to multiple weak links in both organizational structure and leadership. Harold did not seem to have the kind of vision that included a clear path to see it to fruition. It is not enough to have a clear vision if the path taken to achieve it is not defined. Harold was not able to implement it because of this. Harold was ineffective as a change agent and social architect for HTE. His ideas about what the organization needed were not in line with what the organization actually needed. I would advise that Harold try to understand the organization that he was trying to change first. In his mind, there was an issue that needed to be fixed, however he did not try to find the issue first before trying to fix it. Implementing an advanced organizational structure to bolster a vision was inappropriate. He should have understood the actual issues before trying to fix any issues. For example, if there were issues of ineffective use of company resources, or underutilized worker hours, he should have addressed those issues. The bottom line in any organization is to grow the business and make money, not to implement complex changes that add to complexity of running a business. The more...
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...Contents Introduction 1 I. Structure of State Bank in Vietnam 2 1. History of State bank in Vietnam 2 2. Structure of State Bank in Vietnam 3 II. Operation of State Bank in Vietnam: 9 1. Monetary tools that State Bank use to moderate the Economics: 9 1.1. Open-market operation: 9 1.2. Discount, rediscount tool: 10 1.3. Required reserve: 11 1.4. Frame of interest rate 12 1.5. Selective credit control: 13 1.6. Imposing credit limit: 13 1.7. Supply fiat money: 13 2. How State Bank in Vietnam applied these tools in its activities ? 14 2.1. 2008 Monetary policies 14 2.2. Monetary policies in 2009 15 2.3. 2010 monetary policies 16 3. Comparison between State Bank of Vietnam and Federal Reserve (FED) 17 Conclusion 21 Reference 22 Introduction The State Bank of Vietnam is the central bank in Vietnam, which is a state agency management of currency in Vietnam. This is the agency responsible for issuing currency, managing monetary policy and advise the relevant currency for the government such as issuing currency, exchange rate policy, interest rate policy, management of foreign exchange reserves, the draft bill on banking and credit institutions, to consider the establishment of banks and credit institutions, management of state-owned commercial banks. Established in 1951 under the name National Bank and renamed in 1960, the State Bank of Vietnam has gradually grown and developed, contributing important role in building and...
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...s Brighton Business School BA (Hons) Business Studies/Management BA (Hons) Business Studies/Management with Marketing BA (Hons) International Business Year One 2011/12 LW180 LAW FOR BUSINESS ASSIGNMENT Assessment of the Law for Business module is made up of this assignment which carries 30% weighting and the 2 hour examination at the end of the module which carries 70% weighting. The assignment is a team work assignment. Hand-in date: 10 a.m. on Tuesday 13th December 2011. Note: you may hand in your work prior to that date by posting one paper copy in the assignment box and submitting an electronic copy in the assignment drop box in the Law for Business module area of student central. This is a teamwork assignment. A team is made up of two students from within your seminar group. You must give your seminar tutor your team details in the week commencing 24 October 2011. Team work assignments must NOT exceed 2000 words. The word limit excludes footnotes and appendices. Any words outside the limit will be crossed out and not be considered part of your assignment. Each member of the team must complete a peer assessment form. The forms should be attached to the paper copy of the assignment. Generally a single mark will be awarded to the team. However, the final mark of an individual member of the team may be reduced for failure to make a fair and equal contribution to the assignment. Please note that a reduction in an individual’s mark will NOT...
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...before moving into the larger facility? Initially, the business operated at a loss, but with time the business was able to attract new and loyal customers. This growth in itself was a challenge because Elizabeth over-estimated the growth capacity of her business. This in turn cost her heavily since she ended paying for unused space in the new facility. Elizabeth could have avoided this additional operating cost by analyzing the growth trends and potential of her business before relocating to a new facility. It is through such business growth potentials analysis that one is able to make strategic management decisions (Stokes & Wilson, 2010). She could have also considered inviting business experts who could have advised her correctly after doing the study on the Biddy’s Bakery for sometimes. What is wrong with the proposal made by the team of Buisness students? Why? The Biddy’s Bakery mission was to produce different kinds of baked goods (pies, cakes) using the traditional method and selling them to general public and local restaurants, but the team of business students proposed that the business should deal with the production of McDoogle pies and selling them twice to a local grocery store chain. This proposal is different from the mission of Elizabeth’s business hence changing the business completely. Therefore the proposal of the students is wrong since it implied changing the original mission of the business. What type of...
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...National Human Resource Standard Competencies Framework & Body of Knowledge PEMBANGUNAN SUMBER MANUSIA BERHAD 2014 0 TABLE OF CONTENTS TABLE OF CONTENTS ....................................................................................................................... 1 THE STANDARDS ~ AT A GLANCE ................................................................................................... 2 THE FIVE DIMENSIONS ..................................................................................................................... 3 THE THREE LEVELS OF HR PROFESSIONALS ............................................................................... 4 HR COMPETENCIES .......................................................................................................................... 6 HR CORE COMPETENCIES ............................................................................................................... 7 HR FUNCTIONAL COMPETENCIES .................................................................................................. 8 HR COMPETENCIES FRAMEWORK.................................................................................................. 9 HR COMPETENCY LEVELS ACCORDING TO DIMENSIONS......................................................... 10 HR BODY OF KNOWLEDGE............................................................................................................. 19 CONCLUSION .....................................
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...State the facts: The Widgets US company is an example of a functional organization. According to the textbook, this structure is the most common organizational type used in business today. The most common weakness in a functional structure from a project management perspective relates to the tendency for employees organized this way to become fixated on their concerns and work assignments to the exclusion of the needs of other departments (Pinto 45). An additional weakness of the functional structure is that it provides no logical location for a central project management function (Pinto 46). Also, Projects generally take longer to complete due to structural problems, slower communication, lack of direct ownership of the project, and competing priorities among the functional departments (Pinto 47). The company is dealing with four main issues: 1. The products are slow to market 2. New innovations are passing right by WRU 3. Poor internal communications causing lost information "up the chain" 4. Department heads are blaming each other not taking responsibility What would you advise? What structural design changes might be undertaken to improve the operations of the company? If I was consulting for this company, I would advise that the company try to create a hybrid organization that is both functional and project centered. The company should invest in a new department, a PMO, that is only dedicated to acquiring and managing new projects. This would resolve the...
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...itself in. It had been determined that new leadership was vital to the company’s survival. As a result, Jorden Vig Knudstorp took over as CEO five years later. Knudstorp immediately noticed poor internal organizational structure that ultimately resulted in frustrated retailers and less shelf space (page 39). Knudstorp successfully cut production costs by creating new designs. He also successfully introduced new markets for Lego products, such as movie collection and video game products targeting adults and girls. From within the organization of the company, Knudstorp successfully shifted the culture away from ineffective and costly innovation and geared more towards profit. Some of these organizational changes included incentives for developing cost cutting methods, innovation and sales. He also took the initiative to create new markets in the virtual world through video games and movies (page 40). With these changes brought about by Knudstorp, Lego found itself in a situation where they were successfully developing new technology, new methods and a more simplified information of enterprise systems, all which were cost effective and ultimately brought the company back to success. Part 2 (discussion questions at the back of the book) The key change in business strategy was to cut costs and gear more towards profit. The objective was to maintain a level of innovation, without excessive spending, as was the case prior to Knudstorp coming in as CEO. The changes in information...
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...1a) Advise Rachael on her position in respect of any breaches of her common law or statutory duty of care and diligence as a director One of the issues raised in the case study is whether Rachael has breached her duties as a director under the common law or statutory duties. Statutory duties are enforced by ROC while common law duties are enforced by the company according to its Memorandum of Association (MOA) and Article of Association (AA) (Mohd Sulaiman & Bidin, 2008). Common law duties are owned by the directors and they must act in the best interest of the company and will be liable for any breach of duties obligated by the MOA and AA. A breach of the common law duty of care will usually result in the payment of compensation or damages to the company. On the other hand, director’s statutory duties are mentioned in Section 132(1A) of the Companies Act. Under Section 132(1A), a director of a company shall exercise reasonable care, skill and diligence with the knowledge, skill and experience which may reasonably be expected of a director having the same responsibilities and any additional knowledge, skill and experience which the director in fact has. Section 132(1A) was further elaborated into four categories of duties. The first category is that the director must exercise reasonable care (Mohd Sulaiman & Bidin, 2008). Under this provision a director is required to take reasonable steps to acquaint themselves with information concerning the company’s financial status and business...
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...Portfolio Management and Strategic Management Paper xxxxxxxxxx CPMGT 301 xxxxxxxxxx Project Portfolio Management is more than just covering multiple projects. Each portfolio has value and benefit to the goals and mission of the business. The project portfolio should be defined to achieve the business objectives and financially benefit the business. Bob Buttrick (2010) stated; “Directing the individual project correctly will ensure it is done right. Directing 'all the projects' successfully will ensure we are doing the right projects.” The main purposes that drive Project Portfolio Management are to establish projects that complement the strategy of the company Project portfolio management ensures that projects have a set of objectives, which when followed brings about the expected results. Furthermore, PPM can be used to bring out changes to the organization which will create a flexible structure within the organization in terms of project execution. In this manner, the change will not be a threat for the organization, but a benefit while helping the organization fulfill its mission and goals. An owner / manager will identify and develop a project that supports the organizations core mission based the organizations PPM. It is not enough to have a good idea or goal. Good planning is needed to ensure the project's success. Brainstorming with the stakeholders and answering a few questions, for example. A few questions that need to be answered when developing...
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...product=fin-571-week-2 Visit Our website: http://hwsoloutions.com/ Product Description PRODUCT DESCRIPTION FIN 571 Week 2 Business Structure Advice Mr. J. Q. Customer, it is a pleasure doing business with you. I have researched your concerns and found several options that are viable for you and the startup of your company. I hope you will find the following information helpful in making your decision regarding the structure of your business. We will be next to you all the time from creating a plan to advise your company how to form a business, the crucial financial choices, and finalize legal actions. Deciding which business structure is the best for organization can be difficult if you are unsure of what the type and which best is suited for your business purpose. Each of them has different legal and tax implications. The following are the business structures that you should consider. As always I am available to discuss any of these options and am looking forward to further discussions with you. Sole Proprietorship The first option is that of sole proprietorship. This option is the simplest business structure available. It is the least regulated form of business and with the lowest income taxes than most of the corporations (Parrino, Kidwell, & Bates, 2012). The business will be operated by yourself so that you will be in charge of the business from business liabilities, debts, and losses. The disadvantages of a sole proprietorship are that the amount of equity capital that...
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...Company, Sole Trader or Partnership | Law 102 | 1. Sole Trader “A sole trader business is one which is fully owned by one individual. Although the owner can employ other staff, the owner retains full responsibility and ownership for the business.” (Admin. (2009). Definition - Sole Trader. ) The advantages of this type of business include no legal filing requirements or fees, as well as no professional advise for the set up of the business; you literally go into the business on your own. Simplicity is also an advantage because there is only one person running the business; there is no need for a complex organizational structure where there might be miscommunication and misunderstanding. The disadvantages to a sole trader business are the unlimited liability for the debts of their business; there is no difference between the sole trading business and the sole trader himself, meaning that they are personally liable for all the debts of the business. In addition, it is not a useful way for raising capital, and the capital must be provided through personal savings or bank loans. 2. Partnership A partnership is a business made up of two to twenty people. Similar to a sole trader, the partners involved have unlimited liability for the debts of their business. Each partner is liable jointly with the other partners in the firm. There are several advantages and disadvantages to being involved in a partnership. One of the advantages to becoming involved in a partnership...
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