This website uses cookies to ensure you have the best experience. Learn more

Financial Applications Of Business In Joint Stock Companies

1874 words - 8 pages

Joint stock companies:

A joint-stock company (JSC) is a type of corporation or partnership involving two or more individuals that own shares of stock in the company. Certificates of ownership ("shares") are issued by the company in return for each financial contribution, and the shareholders are free to transfer their ownership interest at any time by selling their shareholding to others.
In modern company law the existence of a joint-stock company is often synonymous with incorporation (i.e. possession of legal personality separate from shareholders) and limited liability (meaning that the shareholders are only liable for the company's debts to the value of the money they invested in ...view middle of the document...

Therefore, it's important to understand the role of the board treasurer.
Getting an Accountant or Bookkeeper, If Needed
If you are inexperienced in financial management, then you should get an accountant initially to help you set up your bookkeeping system, generate financial statements and do some basic financial analysis. But don't count on an accountant to completely take over your responsibility for financial management! The accountant can help you set up a bookkeeping system, generate financial statements and analyse them, but you have to understand financial data to the extent that you can understand the effects of your management decisions, the current condition of your business and how decisions will affect the financial condition of your business in the future.

You should carefully consider whether you should hire an outside accountant, or hire your own employee. The IRS pays increasing attention to the hiring of independent contractors.

Buy Accounting Software to Help You?
Strongly consider getting a software package to manage your books! There are a number of very useful software packages that will help you automate bookkeeping, generation of financial statement and their analysis. Note that an accounting software package can greatly reduce the time to enter and manage accounting transactions, and generate financial statements. However, you still should have at least a basic understanding of the accounting process for your organization, including what journals are used and what general accounts exist. You must have good understanding of financial statements and how to analyse them -- an accounting package cannot do this for you

Getting a Bank and Banker
You'll need to start a business account at a bank. Probably the best way to find a good bank is to ask for advice and references from other small businesses, especially those that are of the size and nature of yours. If you're just starting out, you probably don't have much money. You may be able to get buy with a non-interest-bearing checking out that has no, or minimal, fees. The following links may be useful.
Basic Bookkeeping Activities

Bookkeeping is basically recording various financial transactions. Bookkeeping activities can often be done by someone who's doing basic clerical work in the business.

Fiscal Policies and Procedures Manual (or Accounting Procedures Manual)

As your business grows, it helps to develop a set of procedures for how your business manages its finances, including how the following activities are carried out by your business. You and your employee will be able to work from the manual to carry out financial management activities. You can also hire a finance professional to review the manual to ensure it's up to date.

Type of Accounting System and Recording of Financial Transactions
Accounting starts with basic record keeping (or bookkeeping). When your organization is just getting started, your bookkeeping system will probably be...

Other Papers Like Financial Applications of Business in Joint Stock Companies

Advantages and Disadvantages of Living in a Joint Family

778 words - 4 pages Advantages and disadvantages of living in a joint family A joint family was a phenomena found only in India of the bygone days. This really meant that, the parents with all their children and grandchildren stayed together under one single roof. This system could prevail for decades for several reasons. First and foremost, all the children stayed in the same town as, no one went out of the town to another distant town in search of a job. This

The Role of Culture in International Joint Venture

863 words - 4 pages Public Relations. * To understand and highlight social media as an important tool in PR management. * To highlight the PR activities of the 2 companies (Shell and BP) in the last 3 years (2009 - 2011). * To analyse what went wrong and what was done right from a PR perspective. * To proffer probable solutions based on the literature review. Background of the study "If I was down to my last dollar, I’d spend it on public

How To Do Business In Poland: A Brief Overview Of Challenges Facing Companies Entering The Market In Poland

1239 words - 5 pages A country with a rich history and heritage, Poland is one of the most interesting and engaging countries to emerge from the fallen Soviet Union. With many business opportunities available, many companies are looking to directly invest in Poland's growing economy. There are many different factors at play in the Polish equation. This guide will provide a snapshot of these vital areas, providing information that is required before entering the

Management of Diversity in Chinese-Based Companies

3833 words - 16 pages Management of Diverse Workforce By Chinese-based Company 1. Introduction a) Objective In recent years, because of the greater level of industry segments, commercial links between different countries such as China, United States and European countries have become closer and closer. As the result of this development, many companies have changed their attentions. These companies have become more interesting in the international business

The Two Companies Into the Royal Dutch Shell Group Came in 1907. There Were Two Separate Holding Companies with Royal Dutch Taking 60% of Earnings and Shell Transport Taking 40%. the Business Was Run...

852 words - 4 pages plutocrat with a grand house in London and a country mansion, which had been bought lock, stock and barrel with furniture, pictures and parkland from Lord Romney. He kept horses and carriage and was active in public life in the City of London. He was knighted in 1898, became Lord Mayor of London and was a leading figure in the London business community. But Marcus Samuel’s dependence on Russian producers left him vulnerable and he decided to

Taxation of Individuals and Limited Companies in the United Kingdom

4631 words - 19 pages Taxation of individuals and limited companies in the United Kingdom Contents Task 1: Duties and responsibilities of the tax practitioner in the UK tax environment 3 Executive summery 3 1.1 UK Tax Environment 3 1.2 The role and responsibilities of the UK Tax Practitioners 6 1.3 The tax obligations of tax payers or their agents and the implications of noncompliance 8 Task 2: Personal Tax Liabilities for Individuals and

Communication Process of Sale Representatives in Pharmaceutical Companies

3474 words - 14 pages theoretical knowledge is not enough for handling the real business situation, therefore it is an opportunity for the students to know about the practical business communication process through practical work. S.M. Towhidur Rahman, the honorable course instructors of the ‘Business Communication’, assigned me to prepare a report on December 24, 2010 about the “Communication process of Sales representatives in Pharmaceutical Companies”. The date of

Monitor the Financial Performance of Privately Owned Business

1584 words - 7 pages selected as they are standard techniques employed in the private sector when evaluating the performance of firms” (Aulich. C & Hughes. M, 2013). Financial performance with different ownership may be overseen in different aspects, so privately owned companies should be monitored from a specific perspective. This paper will examine the sound measures to monitor the financial performance in privately owned business. Firstly, some financial measures

McDonald's - Managing Stock To Meet Customer Needs: How Has The Role Of Restaurant Managers Changed At McDonald's In Relation To Stock Control Activities?

655 words - 3 pages McDonald's is a very well known brand in many countries around the world. It has its restaurants setup in around 120 countries and serves approximately 50 million people every day.McDonald's has been facing difficulties in managing its stock. This case discusses about how McDonald's used to manage its stock earlier and how its implementation of new stock management systems benefited the company.To manage stock efficiently, a balance is needed

Financial Complications in Quality of Healthcare

1245 words - 5 pages organization. In Module 4 we talked about how necessary technology is to the quality of health care. The importance on quality, not just quality of care, is just as important to the financial success of a health care organization. Many third-party payers (such as insurance companies) base reimbursement rates on the level of quality provided by an organization. For instance, the advent of EMR, discussed in Module 4, has made the process of coding

Fundamentals of Business in Music

1215 words - 5 pages . Music publishing company­ signs contracts with songwriters and composers. It ensures that the creators of a composition or lyrics, who usually own the copyrights to their work, are paid every time their work is used commercially. 2 Management company­ acts as a representative of an artist in the business and oversees their career and business affairs. Concert promoters­ companies responsible for organising live appearances and tours of an

Related Essays

Applications Of Business Research Essay

3946 words - 16 pages OVERVIEW, TRADING STRATEGIES 1. Trading strategies involving a single option on a stock and the stock itself: i) Covered call; ii) Protective put 2. Trading strategies involving taking a position in two or more options of the same type: i) Bull spreads; ii) Bear spreads; iii) Butter‡y spreads 3. Combinations: Option trading strategies that involve taking a position in both calls and puts on the same stock: i) Straddles; ii) Strips; iii) Straps

Business In Small Companies Essay

1207 words - 5 pages by the Fair Work Act 2009 as one with fewer than 15 employees. By comparison, a medium sized business or mid-sized business has under 500 employees in the US, 250 in the European Union and fewer than 200 in Australia. In addition to number of employees, other methods used to classify small companies include annual sales (turnover), value of assets and net profit (balance sheet), alone or in a mixed definition. These criteria are followed by the

How International Differences In The Ownership And Financing Of Companies Could Lead To Differences In Financial Reporting

1888 words - 8 pages countries and converge notwithstanding the kind of industry or company in question. However, this is not usually the case, especially in areas where the companies involved have different ownership and financing structures. Discussion Factors that could be related to the environment in which a business operates in have been identified as major contributors to differences in financial reporting by different companies in countries across the world

Business Cycle: Theory And Empirical Applications Country Of Interest: Netherlands

3372 words - 14 pages . But RBC model has also some strengths. It is very easy to use and evaluate the performance, they perform actually very well with the data I used. It is a good model for estimating the business cycle.   21     Reference F. Burns and W. C. Mitchell, Measuring business cycles, New York, National Bureau of Economic Research, 1946. Madhani, P. M., Rebalancing Fixed and Variable Pay in a Sales Organization: A Business Cycle Perspective. Compensation & Benefits Review, 2010, 42(3), pp. 179189. Maarten Masselink and Paul van den Noord, The global Financial Crisis and ist effects on the Netherlands, in: Ecfin Country Focus, 2009.   22