Summary basics of financial management CH2,5,11,12,13
Alles voor dit studieboek (2)
Geschreven voor
Tilburg University (UVT)
Personeelswetenschappen
FPM Financial and project management
Alle documenten voor dit vak (4)
Verkoper
Volgen
elisenutters1
Voorbeeld van de inhoud
The basics of financial management
Hoofdstuk 2
2 major categories: companies with a legal entity and without
- Legal entity may hire staff, conclude a sales agreement and borrow from a bank
- Not a legal entity can hire people in the name of the owner
Sole proprietorship: not a legal entity and property of one individual
- Has no disclosure requirements
Partnership: not a legal entity but owned by multiple individuals
Limited liability company (LLC)
- Separation between ownership and management
- Often a greater involvement of shareholders in the company than in a corporation
- Have to pay corporate tax on the profits
Annual general meeting of shareholders: is the highest authority in a joint-stock company
SVB = supervisory board
- Supervises the board of directors on behalf of the shareholders
If a Dutch company meets the requirements of the two-tier status, a supervisory board is
mandatory. These requirements are:
1. The issued capital together with reserves must be at least 16 million according to the
balance sheet with notes
2. The company has a works council
3. The company employs at least one hundred employees in the Netherlands
Corporate Governance Code are the rules for management of companies
3 major differences between LLC and corporation
1. LLC’s shares are always registered shares.
2. An LLC can enter a buyout agreement into the articles of association, putting
restrictions on selling shares.
3. In the Netherlands the creation of a corporation requires an initial minimum capital
of 45000. There is no required minimal capital for setting up an LLC.
Production cooperative: the members are suppliers of raw material for the production
process
Purchasing cooperative: members buy their supplies such as seeds, propagating material or
fertilizer from the cooperative
Cooperative bank: lends money from and to its members
, 3 legal forms of cooperatives:
1. Legal liability: the members are liable for the debts of the cooperative
2. Excluded liability: the members cannot be obliged to pay the cooperative’s debts
3. Limited liability: the members are responsible for the cooperative’s debt up to a
maximum amount per member
2 types of nonprofit organizations
1. Association: is a collection of people organized for a specific purpose
a. Associations with full legal capacity have their bylaws recorded in a notarial
deed
b. Associations with limited legal capacity are the other associations
2. Foundation: is an organization that aims to achieve a particular social, societal or
idealistic goal.
a. A foundation doesn’t have members
b. A foundation does have a board
c. A foundation can own a company. The profit of the company must then be
spent on the purpose of the foundation.
Three tax boxes
1. Box 1: has an increasing sliding scale and includes income tax and a contribution
amount for national insurance schemes. AOW, An wen Wlz
2. Box 2: concerns taxable income from substantial interest
3. Box 3: concerns taxable income from savings and investments
Entrepreneurial tax relief: consists of the private business ownership allowance and the new
companies tax relief
Private business ownership allowance: is an amount that entrepreneurs may deduct from
profits
In the year that someone starts a business, the new companies tax relief is added, an
amount of 2123. Of the remaining profit, 14% is exempt from tax – this is known as the SME
profit exemption
The calculation of the amount of tax payable by the entrepreneur is:
Incurred profit
- Entrepreneurial tax relief
Profit after entrepreneurial tax relief
- Profit exemption (14 % of profit after entrepreneurial tax relief)
Taxable profit
X Rate (according to table
Taxes
- Tax credits
Payable taxes
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper elisenutters1. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €6,49. Je zit daarna nergens aan vast.