Accounting Business Reporting for Decision Making

CHAPTER 2 Accounting in society 87 Required a. Explain the ‘self-interest’ principle. b. Debate the use of the ‘self-interest’ p ...

88 Accounting: Business Reporting for Decision Making Peck, D 2011, ‘Can the middle class be saved?’, The Atlantic, September, h ...

LEARNING OBJECTIVES After studying this chapter, you should be able to: 3.1 understand the different forms that business entitie ...

90 Accounting: Business Reporting for Decision Making Chapter 3 preview Individuals are regarded as separate business entities f ...

CHAPTER 3 Business structures 91 REALITY CHECK Not-for-profit entities The feature common to all NFPs is that they are not set u ...

92 Accounting: Business Reporting for Decision Making number. Sole traders are not bound by any formal requirements such as acco ...

CHAPTER 3 Business structures 93 For example, the individual could be sued by one of the employees of the business for an act of ...

94 Accounting: Business Reporting for Decision Making 3.4 Definition and features of a partnership LEARNING OBJECTIVE 3.4 Define ...

CHAPTER 3 Business structures 95 accounting standards. The partnership itself does not pay tax on the income earned by the partn ...

96 Accounting: Business Reporting for Decision Making The reality check below provides an illustration of the real-life company ...

CHAPTER 3 Business structures 97 The main types of company are: proprietary companies companies limited by shares companies lim ...

98 Accounting: Business Reporting for Decision Making About 99 per cent of businesses trading in Australia are SMEs and SMEs emp ...

CHAPTER 3 Business structures 99 Limited by shares Public companies limited by shares are companies that offer shares to the pub ...

100 Accounting: Business Reporting for Decision Making paying the outstanding debts. This form of business structure is popular ...

CHAPTER 3 Business structures 101 liability of companies can also be a negative characteristic. It can preclude certain supplier ...

102 Accounting: Business Reporting for Decision Making REALITY CHECK Is it time to get tough on the tax benefits of family trust ...

CHAPTER 3 Business structures 103 One also recalls the quick recant from shadow treasurer Joe Hockey two years ago after a ‘disc ...

104 Accounting: Business Reporting for Decision Making business entity’s funds for personal use, this will be shown as a reducti ...

CHAPTER 3 Business structures 105 Partnership reports The financial statements in illustrative example 3.6 report on the financi ...

106 Accounting: Business Reporting for Decision Making (continued) Martina, James and Brigitte — Accountants Balance sheet as at ...