Accountants 150 Brant Street Burlington, Ontario L1L 1L5 February 18, 2008 Dr. Beatrice Simcoe, President Brant Animal Hospital Professional Corporation 100 Brant Street, Burlington, Ontario L1L 1L1 Dear Dr. Simcoe: We have been engaged to audit the financial statements of Brant Animal Hospital Professional Corporation (“the Company”) for the year ended December 31, 2007. Canadian Generally Accepted Auditing Standards (GAAS) requires us to communicate at least annually
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Introduction: This essay is consisted of Part A and Part B, includes three tasks in total. In Part A it will discuss the feature of a fiduciary relationship and disclosure some duties owned by company directors, such as the duty to act in good faith in the best interests of the company, the duty to avoid conflicts of the interest, the consequences of breaching a duty by directors and some defences for the company’s director. After that, in Part B the article will talk about some issues arise from
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After reviewing the company’s background we offer the following recommendations to help improve their position in the market with the aspiration of growth & financial prosperity. The first thing which must be done is to define the scope of the services offered. To effectively target the right customers Cal Inc. identify what services are being sold. To help alleviate some of the financial stress of the business Cal Inc. should consult with the Small Business Administration regarding loans and/or
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the best choice of business entity for a new product that has excellent market potential. You will examine the pros and cons of each type of business structure. Business structures such as a Sole Proprietorship, Partnership, and Corporation, and ultimately why a corporation was the best business structure for this particular product. A woman has an excellent idea for a new appliance that she feels will benefit the needs of everyday consumers. However, she has a few decisions that stand in the way
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the LLC The Executive Angel’s owners had a better outcome financially at tax time. After years of growth and our profits exceeded 2 million dollars per a year we decided to sell off small shares of our company to investors and become a major corporation. Due to selling company shares, The Executive Angel now became a Joint-Stock
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Introduction: GDR or Georginelli Dental Research shifted from an active business corporation to one that has become excessively careful, as its elevated margin film transactions have eroded. Even though the phases-and-gates procedure is in place at GDR delivers leadership to projects, the motivation and spirit that directed the corporation to former triumph has been removed from the association. The case brings the story of two characters that are motivated to bring back that "can do" spirit as
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2) Four categories of business enterprises are as follows: • Partnership A partnership is an agreement between two or more people to finance and operate a business for profit. Partnerships are relatively easy to establish; however time should be invested in developing the partnership agreement. A partnership agreement is a legal agreement between partners in a partnership which sets out the terms and conditions of the relationship between the partners, including: Percentages of ownership
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for listed firms to have independent audit committees. When costly internal regulations that are not necessary for honest corporations are imposed on all corporations that are competitors, honest corporations do not gain a competitive advantage over those who have violated the law. In some situations these honest corporations could bear higher costs than do rogue corporations. Who then benefits from such rules? First, standardized rules make it easier for the regulators to supervise the corporate
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approximately 50% of the potential in the servers is going unused. This is due to a lack of understanding of the new technology. Companies are not ready for the advance in technology. Lack of training within large corporations on understanding how the technology works and its potential means that corporations are not incorrectly using the resources they have. The technology itself cannot keep up with how fast it is evolving. The result of this is constant
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business chosen. Legal, tax, accounting, and other implications when selecting from the four business types are matters of considerations (University, 2008 - 2011). The four forms of business include Sole proprietorship, Partnership, C Corporation, and S Corporation. Discussion will explain advantages and disadvantages of the four forms of business, financial statement associated with each form of business organization, and the consequences of tax implications, legal implications, and accounting
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