A sole trader is an individual who controls and manages a business The business is not a separate legal entity The individual is fully liable for all debts What are the advantages of sole trader? Quick, inexpensive and easy to establish Inexpensive to wind down Not subject to company regulation Owner has total autonomy over …
The major business organization forms are: Sole trader Partnership Limited Liability Company Company They differ in terms of owner liability, equity structure, funding opportunities, decision making responsibilities and taxation Read up more about their advantages and disadvantages of : sole proprietor, partnership and companies Having issues with your accounting module? SMS us at +65 97587925 …
Financial accounting vs Management accounting What is the difference between Financial Accounting and Management Accounting? Accounting is the process of identifying, measuring and communicating economic information about an entity to a variety of users for decision making purposes Financial accounting is the preparation and presentation of financial statements to allow users to make economic decisions …