FIN 300 Chapter Notes - Chapter 1: Sole Proprietorship, Byrsonima Crassifolia, Cost Accounting
Document Summary
The nancial mangers are in charge of answering the three questions above. The top nancial manger within a rm is usually the chief financial of cer (cfo) Treasurer: oversees cash management, capital expenditures and nancial planning. Controller: oversees taxes, cost accounting, nancial accounting, and data processing. There are three major forms in canada: sole proprietorship, partnership, and. Sole proprietorship: a business owned by a single individual. Partnership: a business forms by two or more co-owners. Partnership dissolves when one partner dies or wishes to sell. Corporations: a business created as a distinct legal entity owned by one or more individual or entities. Double taxation (income is taxed at the corporate and then dividends are taxed at the personal rate) For pro t business the goal of nancial management is to make money or add value for the owners: The agency problem and control of the corporation. >principal hires an agent to represent their interest.
