Financial Management - An Overview
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Accounting and Financial Management for Bankers — JAIIB.
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Free sample — 8 of 39 rapid-fire Q&A cards.
Governing law — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: None specific; Partnership: Partnership Act 1932 (Sec. 4); LLP: LLP Act 2008; HUF: Hindu Law; Company: Companies Act 2013; Co-op Society: State / Multi-State Co-op Acts
Legal entity — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: No; Partnership: No (not separate); LLP: Yes; HUF: No (but separate for tax); Company: Yes; Co-op Society: Yes (if registered)
Liability of owners — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: Unlimited; Partnership: Unlimited & joint-several; LLP: Limited to contribution; HUF: Unlimited for Karta; Company: Limited to share value; Co-op Society: Limited
Minimum members — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: 1; Partnership: 2; LLP: 2 designated partners; HUF: 2 (Karta + 1 coparcener); Company: 1 (OPC) / 2 (Pvt) / 7 (Public); Co-op Society: 10 (typical state law)
Created by — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: Will of owner; Partnership: Contract; LLP: Incorporation w/ MCA; HUF: Birth in a Hindu family; Company: Incorporation w/ MCA; Co-op Society: Registration with Registrar
Perpetual succession — Sole Prop. / Partnership / LLP / HUF / Company / Co-op Society?
Sole Prop.: No; Partnership: No; LLP: Yes; HUF: Yes (continues through coparceners); Company: Yes; Co-op Society: Yes
1 — Block / What it Covers?
Block: Planning; What it Covers: Forecasting capital needs, sales budget, cash budget, capital-budget plan, dividend policy.
2 — Block / What it Covers?
Block: Decision Making; What it Covers: Investment, financing, dividend & working-capital decisions; M&A; treasury choices.
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