Suruhanjaya Syarikat Malaysia (SSM) About SSM The Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM) is a statutory body which regulates companies and businesses. SSM‚ which came into operation on 16 April 2002‚ is a statutory body formed as a result of a merger between the Registrar of Companies (ROC) and the Registrar of Businesses (ROB) in Malaysia. The main activity of SSM is to serve as an agency to incorporate companies and register businesses as well as to provide company
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Denmark today. After the Christianists took down Pusher Street‚ the debate has only gotten bigger. Marihuana is legal for medical purposes in Colorado‚ US‚ and fully legal in the Netherlands. However‚ despite cannabis being legal in Holland‚ only residents can legally buy it‚ and before doing so‚ they need to acquire a so-called “weed pass”‚ which they have to apply for and only is legal for people over the age of 18. In Canada‚ the Liberals want to legalize‚ regulate‚ and restrict access to the drug
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a sole proprietorship Income Taxes- Taxes are paid as personal income tax; similar to that of a sole proprietorship‚ income is split up per their agreement and then taxed accordingly. No federal taxes will be imposed‚ as this is a pass through entity‚ only personal income tax will be taken Longevity/Continuity- Once a partner dies‚ partnership is immediately dissolved and partners may choose to regroup. Control- Any partner can make decisions for all partners; if one partner enters into
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A. SOLE PROPRIETORSHIP: This is the simplest business structure of which the owner has total control. The owner can make up a fictitious name or use the same name for the business. Sole proprietorship is easy to set up at a minimal cost. The business owner does not need to follow rules or regulations of others but their own and can set up their own schedule. Proceeds can be directly deposited into the owner’s bank account and the funds are freely allocated between business and personal accounts
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1: Controlled entities – the th consolidation method lid ti th d Applying the consolidation method AASB 10 requires the application of the consolidation method th d Consolidation – process of preparing statements for group of entities under entities of financial of one of those Involves combining financial statements of individual entities to show financial position and performance of group Group – a parent and it’s subsidiaries Parent – an entity that controls
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SOLE PROPRIETORSHIPS AND PARTNERSHIPS A sole proprietorship is a business entity owned by one party‚ and is the simplest of the forms of business: • It is easy to form. • The business income is taxed along with the owner’s other income. • The owner is liable for the debts of the business. • The owner controls the decisions of the business. • The business ends when the owner does. The sole proprietorship is often the starting point for a small‚ fledgling business. But a sole proprietorship
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References: Riss Corporate Service‚ Type of Business Entities in Malaysia‚ . Type of Business Entities in Malaysia . Jim Riley‚ updated Sunday 23 September‚ 2012‚ . Fortes Hilary‚ 2011‚ Accounting Simplified‚ Ashford Colour Press Ltd‚ Gosport. KEITH E.J.FARMER BA FCA‚ 2010‚ Basic Accounting-Malaysia Version-Volume 1‚ MingPieMan
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SUMMARY OF FACTS 1) Bagpat Engineering Company Limitedwas incorporated as a private limited company in March‚ 1987 with 26 shareholders. 2) In August‚ 1994‚ its name was changed to Bagpat Industries Private Limited and it was converted into a public company in the name of M/S Bagpat Industries Limited in October‚ 1994. 3) The petitioners and the respondents are closely related family membersThe petitioners are illiterate living in a small village 4) Therespondent gained some experience
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• Partners bears the unlimited financial obligation. • Each partner accepts obligation for the mistakes of his or her partners. • Partners must equally share profits. A corporation is considered a legitimate entity that is governed by law. As a artificial person‚ a corporation can perform every one of the errands that a genuine person can do‚ similar to pay expenses‚ collect obligation‚ go into contracts‚ be considered responsible for carelessness and make a
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INVESTIGATE TWO SEPARATE BUSINESSES‚ ONE A PROFIT ORGANISATION AND THE OTHER A NON PROFIT ORGANISATION DESCRIBE THE TYPES OF BUSINESSES‚ PURPOSE AND OWNERSHIP. INCLUDE IN THE DESCRIPTION‚ THE LIABILITY OF THAT BUSINESS. BUSINESS 1: RIVER ISLAND BUSINESS 2: OXFAM RIVER ISLAND: PROFIT ORGANISATION ‘With over 60 years of fashion retailing experience‚ River Island is one of the most successful companies on the High Street. River Island has nearly 300 stores across the UK‚ Ireland and
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