What accounts should a ltd compnay submit for its first AGM?
I would have thought - 12 month annual accounts, a profit and loss account and balance sheet. Perhaps also a 12 month cash flow forcast for the upcoming year? Any idea whether there is anything that should be added to this?
Other - Business & Finance - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You should be guided by your country's Companies Act or equivalent. The 1st set of accounts is rarely for 12 months, unless you were incorporated on Jan 1 and your year-end is Dec 31. Your 1st set of accounts should be from the date of incorporation to the fiscal year-end. A set of accounts usually consists of a balance sheet, an income statement, a cash flow statement, a statement of changes in equity, and accompanying notes to the accounts. Forecasts and budgets are not usually needed at AGMs as they are internal documents.
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Sunday, November 28, 2010
Sunday, November 14, 2010
Is it safe to give out my Bank account and sort number for a transfer of cash?
Is it safe to give out my Bank account and sort number for a transfer of cash?
I have a potential buyer of my Boat and he wants to transfer the money direct to my account. Is it safe to do so? I was planning on giving a old account which I never used. I have met the guy and happy he is honest. Help please! Thanks!
Personal Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You say you've met him in person, which implies that he's local. If that's the case, why can't he just physically hand you the cash? The alternative would be a cashier's check from a local bank. I'd be suspicious of giving any stranger my bank account details, no matter how honest he seems.
Answer 2 :
Errrr, you wouldn't cross the road without looking would you?
Answer 3 :
Well, with the bank account number, the only thing another person could do is deposit cash into it. I possibly cant withdraw the cash out or use it to make any payments, atleast without your signature. If you still dont trust this, use this old account or simply open a new one. There is absolutely nothing he could do to offend you in any way using only your bank account number. Or else just use a fund transfer method lke Western Union
Answer 4 :
Personally I would be cautious of that. For example one time my company paid me too much because they paid me for full 2 weeks plus vacation days instead of 2 weeks total. They called me on Monday and told me they were taking the direct deposit back and sending me a check. Maybe he would not be able to get other money from the account, but there might be some way he could undo the transfer. Is this 3 or 4 figures or 5 figures or more (over $10,000)?
Answer 5 :
get him to transfer the money by paypal
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I have a potential buyer of my Boat and he wants to transfer the money direct to my account. Is it safe to do so? I was planning on giving a old account which I never used. I have met the guy and happy he is honest. Help please! Thanks!
Personal Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You say you've met him in person, which implies that he's local. If that's the case, why can't he just physically hand you the cash? The alternative would be a cashier's check from a local bank. I'd be suspicious of giving any stranger my bank account details, no matter how honest he seems.
Answer 2 :
Errrr, you wouldn't cross the road without looking would you?
Answer 3 :
Well, with the bank account number, the only thing another person could do is deposit cash into it. I possibly cant withdraw the cash out or use it to make any payments, atleast without your signature. If you still dont trust this, use this old account or simply open a new one. There is absolutely nothing he could do to offend you in any way using only your bank account number. Or else just use a fund transfer method lke Western Union
Answer 4 :
Personally I would be cautious of that. For example one time my company paid me too much because they paid me for full 2 weeks plus vacation days instead of 2 weeks total. They called me on Monday and told me they were taking the direct deposit back and sending me a check. Maybe he would not be able to get other money from the account, but there might be some way he could undo the transfer. Is this 3 or 4 figures or 5 figures or more (over $10,000)?
Answer 5 :
get him to transfer the money by paypal
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Sunday, November 7, 2010
How do you set up an offshore bank account?
How do you set up an offshore bank account?
How can you set up an offshore bank account in a different name? What kind of ID do I need to supply to them? Can I just make up a name and start an account that way?
Personal Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
in prison..
Answer 2 :
you will need proof of who you are you cant use a false name and they will the name of your normal bank so they can get a reference from it it is the anti laundering laws
Answer 3 :
lots of places don't accept payments from bank accounts that originate outside your country
Answer 4 :
offshore hunh.... what are you up to? ;-) are you rich...that avatar looks sexy...does he represent you well?? how you doin?!? LOL
Answer 5 :
There was a time when you could do this quite easily. Indeed all you needed was to nip over to Amsterdam and open a postal savings account. Now it is all but impossible. Banks are required to see valid ID so you would need to first get a passport in your new name. Then you would need an address. If you use a local address, the bank will also want to see some proof of your status as a resident (residence permit) or set you up as a non-resident account holder. As a non-resident account holder, your financial information will available to the country of your passport. Guaranteed. So now you have your new identity and an account. What next? Well the next is to get money into and out of that account. Nobody takes wads of cash any more and all banks require to know the source of money being transferred from another account. Maybe you are able to be paid offshore for a project? Then you can fund the account with a wire transfer although of course the company has to report that transaction somewhere and oops you have a false name . . . Do you get where this is going? Cheaper to pay the tax!
Answer 6 :
All banks have to verify identify of anyone opening an account under Money laundering rules. This would normally involve checking your name and your address. For offshore accounts, the bank will also want to verify the source of funds ie where you got the funds from that you are investing. Its best to talk to the bank of your choice as to what their own process is for verifying the above. Disclaimer: The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.uk
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How can you set up an offshore bank account in a different name? What kind of ID do I need to supply to them? Can I just make up a name and start an account that way?
Personal Finance - 5 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
in prison..
Answer 2 :
you will need proof of who you are you cant use a false name and they will the name of your normal bank so they can get a reference from it it is the anti laundering laws
Answer 3 :
lots of places don't accept payments from bank accounts that originate outside your country
Answer 4 :
offshore hunh.... what are you up to? ;-) are you rich...that avatar looks sexy...does he represent you well?? how you doin?!? LOL
Answer 5 :
There was a time when you could do this quite easily. Indeed all you needed was to nip over to Amsterdam and open a postal savings account. Now it is all but impossible. Banks are required to see valid ID so you would need to first get a passport in your new name. Then you would need an address. If you use a local address, the bank will also want to see some proof of your status as a resident (residence permit) or set you up as a non-resident account holder. As a non-resident account holder, your financial information will available to the country of your passport. Guaranteed. So now you have your new identity and an account. What next? Well the next is to get money into and out of that account. Nobody takes wads of cash any more and all banks require to know the source of money being transferred from another account. Maybe you are able to be paid offshore for a project? Then you can fund the account with a wire transfer although of course the company has to report that transaction somewhere and oops you have a false name . . . Do you get where this is going? Cheaper to pay the tax!
Answer 6 :
All banks have to verify identify of anyone opening an account under Money laundering rules. This would normally involve checking your name and your address. For offshore accounts, the bank will also want to verify the source of funds ie where you got the funds from that you are investing. Its best to talk to the bank of your choice as to what their own process is for verifying the above. Disclaimer: The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.uk
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Monday, November 1, 2010
How do you coordinate resources and tasks?
How do you coordinate resources and tasks?
I am doing my Nvq2 in accounting and I need to know and understand this. What can I write to satisfy this evidence?
Careers & Employment - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You have to first prioritise the tasks...i.e. which are the most important,urgent ones and deal with them in order of priority using the staff available. Some tasks can be put on the backburner for later.
Answer 2 :
pls give more detail.
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I am doing my Nvq2 in accounting and I need to know and understand this. What can I write to satisfy this evidence?
Careers & Employment - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You have to first prioritise the tasks...i.e. which are the most important,urgent ones and deal with them in order of priority using the staff available. Some tasks can be put on the backburner for later.
Answer 2 :
pls give more detail.
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