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Related Party Transaction
In business, a related party transaction is a transaction which takes place between two parties who hold a pre-existing connection prior to the transaction. An example is how a dominant shareholder may benefit from making one of their companies trade with another at advantageous prices. Related party transactions can be a reason for a Type II agency relationship (conflicts among controlling and non-controlling shareholders), as they are not necessarily in the best interest of minority shareholders. In commercial law, special regulations may apply restricting related party transactions, such as Part 2E of Australia's Corporations Act 2001, which requires companies to seek approval from their members for such a transaction to take place. International Financial Reporting Standard IAS 24 requires companies to disclose related party transactions in their financial statements. Academies (England) In England, there are restrictions and notification requirements in place regarding relate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with Sole proprietorship, sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder
A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself. The influence of a shareholder on the business is determined by the shareholding percentage owned. Shareholders of a corporation are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and the shareholders' liabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agency Theory
Agency may refer to: Organizations * Institution, governmental or others ** Advertising agency or marketing agency, a service business dedicated to creating, planning and handling advertising for its clients ** Employment agency, a business that serves as a representative, acting on behalf of another ** Government agency, a department of a local or national government responsible for the oversight and administration of a specific function *** Central Intelligence Agency, nicknamed "The Agency" ** International agency, an inter-governmental body ** News agency ** Talent agency Social science * Agency, the abstract principle that autonomous beings, agents, are capable of acting by themselves; see Autonomy * Agency (law), a person acting on behalf of another person * Agency (moral), capacity for making moral judgments * Agency (philosophy), the capacity of an autonomous agent to act, relating to action theory in philosophy * Agency (psychology), the ability to recognize or attribute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Law
Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and business engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law. Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange, negotiable instruments, contracts and partnership. Many of these categories fall within Financial law, an aspect of Commercial law pertaining specifically to financing and the financial markets. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes that contain comprehensive statements of their commercial law. In the United States, commercial law is the pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smaller islands. With an area of , Australia is the largest country by area in Oceania and the world's List of countries and dependencies by area, sixth-largest country. Australia is the oldest, flattest, and driest inhabited continent, with the least fertile soils. It is a Megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and climates, with Deserts of Australia, deserts in the centre, tropical Forests of Australia, rainforests in the north-east, and List of mountains in Australia, mountain ranges in the south-east. The ancestors of Aboriginal Australians began arriving from south east Asia approximately Early human migrations#Nearby Oceania, 65,000 years ago, during the Last Glacial Period, last i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporations Act 2001
The ''Corporations Act 2001'' (Cth) is an Act of the Parliament of Australia, which sets out the laws dealing with business entities in the Commonwealth of Australia. The company is the Act's primary focus, but other entities, such as partnerships and managed investment schemes, are also regulated. The Act is the foundational basis of Australian corporate law, with every Australian state having adopted the Act as required by the Australian Constitution. The Act is the principal legislation regulating companies in Australia. It regulates matters such as the formation and operation of companies (in conjunction with a constitution that may be adopted by a company), duties of officers, takeovers and fundraising. Background Constitutional basis Australian corporate law was the subject of a successful legal challenge in the High Court of Australia in ''New South Wales v Commonwealth'' (1990) ('The Corporations Act Case'). In that case, the Commonwealth was found to have insuf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * List of legal entity types by country, business entities, whose aim is generating profit * financial entities and banks * programs or Educational institution, educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared Incorporation (business), incorporation, or published policy. When a company closes, it may need to be Liquidation, liquidated to avoid further legal obligations. Companies may associate and collectively register themselves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Financial Reporting Standard
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries. They are particularly relevant for companies with shares or securities listed on a public stock exchange. IFRS have replaced many different national accounting standards around the world but have not replaced the separate accounting standards in the United States where U.S. GAAP is applied. History The International Accounting Standards Committee (IASC) was established in June 1973 by accountancy bodies representing ten countries. It devised and published International Accounting Standards (IAS), interpretations and a conceptual framework. These were looked to by many national accounting standard-se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Education In England
Education in England is overseen by the United Kingdom's Department for Education. Local government authorities are responsible for implementing policy for public education and state-funded schools at a local level. England also has a tradition of independent schools (some of which call themselves ''public schools'') and home education: legally, parents may choose to educate their children by any permitted means. State-funded schools may be selective ''grammar schools'' or non-selective ''comprehensive schools'' (non-selective schools in counties that have grammar schools may be called by other names, such as ''high schools''). Comprehensive schools are further subdivided by funding into free schools, other academies, any remaining Local Authority schools and others. More freedom is given to free schools, including most religious schools, and other academies in terms of curriculum. All are subject to assessment and inspection by Ofsted (the Office for Standards in Educatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Academy Trust
An academy school in England is a state-funded school which is directly funded by the Department for Education and independent of local authority control. The terms of the arrangements are set out in individual Academy Funding Agreements. Most academies are secondary schools, though slightly more than 25% of primary schools (4,363 as of December 2017) are academies. Academies are self-governing non-profit charitable trusts and may receive additional support from personal or corporate sponsors, either financially or in kind. Academies are inspected and follow the same rules on admissions, special educational needs and exclusions as other state schools and students sit the same national exams. They have more autonomy with the National Curriculum, but do have to ensure that their curriculum is broad and balanced, and that it includes the core subjects of English, maths and science. They must also teach relationships and sex education, and religious education. They are free to c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Education And Skills Funding Agency
The Education and Skills Funding Agency (ESFA) is an executive agency of the government of the United Kingdom, sponsored by the Department for Education. The ESFA was formed on 1 April 2017 following the merger of the Education Funding Agency and the Skills Funding Agency. It brings together the existing responsibilities of the Education Funding Agency (EFA) and Skills Funding Agency (SFA), creating a single agency accountable for funding education, apprenticeships and training for children, young people and adults. Previously the EFA was responsible for distributing funding for state education in England for 3-19 year olds, as well as managing the estates of schools and colleges; and the SFA was responsible for funding skills training for further education in England and running the National Apprenticeship Service and the National Careers Service. In the 2019–20 financial year, the agency was responsible for a budget of £59billion and had approximately 1,500 staff. Eileen M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
