The Structure Of Business Organisations Essay - 1479 Words

ACCOUNTING PROJECT by Serzh Mkhoyan TITLE After suitable research,briefly explain the structure of business organisations and give the legal requirement as far as informing stakeholders as to the business financial activities. -------------------------------------------------------------------------------------------------- INTRODUCTION Anyone who is intended to enter the business world,should know that there are 5 types of business organisations that he or she needs to take under consideration. Those legal structures are: sole trader,partnership,partnership with limited liability(LLP),private limited company (LtD) and public limited company (PLC). This project will explain in detail the structure of those organisations,list the documents required to set up every single one of them and will also mention about financial accounts needed to inform stakeholders about the business activities. 1) SOLE TRADER A man who has started working for himself is considered as a sole trader. Sole traders have unlimited liabilities,meaning that in terms of law there is no separation between them,hence the sole trader is also liable for the debts incurred within the business, which makes it very risky to run for a long-term. Sole trader company follows a set of rules which can both benefit the ownerShow MoreRelatedThe three main business organisation structures considered by Steve and Wonder are partnerships,1000 Words   |  4 PagesThe three main business organisation structures considered by Steve and Wonder are partnerships, trusts and companies. In order to understand the key differences between the three and to put forward a recommendation for the most apt structure, it is essential to grasp the basic definition of each . A partnership is an association of two or more people who typically know and trust each other and therefore come together to set up and carry on a business. 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