Everything you need to know about the factors to consider while selecting a form of business organisation. Business organisations are social entities which co-ordinates the activities of a number of people for the achievement of some common goal through division of labour and through well-defined systems of working i.e., hierarchical level chain of command, rules and procedures, etc. Business organisation [...]
The upcoming discussion will update about the difference between company and a partnership firm. Difference # Company: 1. A Company is regulated by the Companies Act, 1956. 2. A Company must be registered. 3. A Company has a separate legal existence distinct from its shareholders. 4. The minimum number of persons required to form a private company is 2 and [...]
This article throws light upon the five paragraphs relating to the forms of cost audit report. Cost Audit Report: Form # 1. Paragraph 1: The cost auditor is asked to state specifically (positively or negatively): (i) Whether all information and explanations necessary for the purposes of Cost Audit were obtained or not; (ii) Whether proper cost accounting records as required [...]