Coursework.Info - Inspiration in an Instant

On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:

Accounting for limited companies A company is legally created when the person(s) fill in a few simple forms and the registrar of companies enters the company name into the registry of companies. Perpetual life: This means that the life of the company is separate to those who own the company i.e. if the shareholder dies it does not mean the company is in jeopardy, the shares of the deceased person will be passed on. However the life of the company can also be brought to an end by courts or by shareholders who believe that there is no real future in the company (voluntary liquidation). This contrasts partnerships, whereby death leads to dissolution of the company. Limited liability: Allows shareholders to limit their losses. They can walk away from large debts as long as their obligations as a shareholder have been satisfied. The liability of the shareholders is limited to the nominal...

To see the full version of this document, and 145,328 others