Organisations can be classified in terms of their business purpose, ‘for profit’ or ‘not for profit’ organisations. Organisations that seek to make a profit are mainly private sector businesses which provide goods/services and must make a profit to survive. They can break even or even make a loss for a very short time or they will cease to exist. The main structure of profit seeking organisations includes: 1. SOLE TRADER. Business owned by a single person, bearing full responsibility of financing
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Running head: Labor and Employment Law Labor and Employment Law As a Human Resource Director for Company X, I come across situations every day that challenge my decision making. These situations need to be handled in a delicate matter to make sure that the company is following the guidelines that are setup and established by the federal government to make sure that companies and employees are treated fairly. I would like to discuss three situations that recently
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Further” When Facing New Business Legal Matters ”, and its author is James A. Wahl. I got this article from Monroe Moxness Berg website. When start a new business, there are many areas where legal planning can save time and money in both the short and the long run. So this article tries to analysis these areas from four aspects: Corporate Structure, Trademarks and Other Intellectual Property, Non-Disclosure and Non-Compete Agreements and Exit Planning, so that help business owners create a legal
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310.1.2-01-06 Sole Proprietorship: Sole Proprietorship is the most common and most simplistic type of business. This model of business the owner and the business are one and the same. A sole proprietorship is unincorporated. Every form of business has advantages and disadvantages. As the owner you can organize, name and take the business as far as your aspirations take you, a sole proprietorship has risks; the responsibility of time, personnel, scheduling, recruiting and accounting management
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University of Phoenix Material Sabrina Morton Business Forms Worksheet There are seven forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company (including the single member LLC), S Corporation, Franchise, and Corporation. 1. Research and provide three advantages and three disadvantages for each business form. 2. Provide a 100- to 200-word summary in which you provide an example business that you would start for each form. What is legally
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Attendance PURPOSE: Ensure consistent administration of attendance management issues. Establish employee and supervisor responsibilities regarding attendance. ASSUMPTIONS: Good attendance is a condition of employment. Sick leave is a benefit to be used only for its intended purpose. KEY ASPECTS: Employees are responsible for: making every reasonable effort to be present as scheduled, arriving, leaving and taking breaks on time and providing timely notice of situations affecting attendance
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Business Structures Marlana Sisson August 10, 2014 University of Phoenix James Ciaramella FIN/571 When beginning a business, it is extremely important that the owners of the business decide the organizational form that will be beneficial to maximize the value of the firm. The owners must consider the size of the business, the taxation of the business, the liability of the owners and the ability to raise capital to finance the business (Parrino, Kidwell & Bates, 2012). The owners will
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Business Form Number of Owners? Are Owners Liable for the firm’s debt? Do Owners manage the firm? Does an Ownership change dissolve the firm? Access to Capital Taxation Sole Proprietorship One Yes Yes, in a sole proprietorship the owner manages all aspects of the business. No, Not always, once the change in ownership, the owner can change the decisions pertaining to the goal of the company and the gp's will have to make that change in direction for the new owner. Many lenders are hesitant to provide
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Three Main Business Structures Graling Carmichael FIN/571 Operations Management November 3, 2014 Danica Djordjevich Three Main Business Structures There are normally seven types of business used in the United States; sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporation. For the purpose of this paper, I will concentrate on the three main business structures of sole proprietorship, partnerships and corporations
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My entertainment company, Kytepromotions, pays fines for every little violation for every little incident. Since I am the sole proprietorship of my business, I must pay all the fines and attend courts when needed. I thought about going in to partnership with my uncle because he was the one that should me how to start the business. He is older than I am by a few decades and his ideas of how plan wedding and children birthdays are prehistoric. My uncle first got started by working with merchants dealing
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