The main difference between a Limited Liability Partnership (LLP) and a Private Limited Company is that In an LLP, the Partners hold ownership of the LLP and also hold powers to manage the LLPwhereas in a Private Limited Company, the shareholders (owners) do not necessarily have to have management...
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Profit is a financial gain which is typically a difference between amount earned and amount spent in a business. Cash Flow is the amount of money being displaced into and out of business which affects its liquidity. When new entrepreneurs start their companies, the main aim is to earn...
A convertible note is basically a type of security which includes various instruments that are expected to be converted into stocks in future. These are your debt equity. These notes or series of agreements are issued to the investors at a very early stage in exchange for a share...
An Employee Self Service Module(ESSM) is a common Human Resource practice that firms use to increase the transparency/efficiency of the employees with respect to payroll related questions, holidays and other issues. For the management of any company, answering these frequent questions of employees can be a time consuming task...
Being a new entrepreneur is a very exciting feeling! A lot many times this very exciting feeling drives our decisions and we end up making not so clever decisions! Money is an asset that is limited with the new entrepreneurs, the money rotation in the new business grows slowly,...
Payroll processing is one of the most important processes. It is the most exhausting time for the HRs and the most anxious for employees as it decides how much they will finally get at the end of the month! So, there is no room for even a tiny error...
Taxation is one of the most integral parts of any business. But paying tax does not always go hand in hand with your finance. For a small business, tax amounts can always be a little scary as you are paying it out of your business income! And let us...
Funding is when money is provided for a particular purpose. With firms it is the same, when money is poured into the firm by an outside source, the firm is said to be fundraising. There are various types of fundraisings like angel funding, venture capitalists, crowdfunding etc As a...
By now almost everyone is aware or at least heard the term of MIS reports. These are basically reports from the Management Information System that gives you the essential information with respect to the functioning of your firm which assists you in making an informed decision. MIS reports have...
Accounts Receivable of any firm is basically when you do things on credit. Many firms have this practice with old and trusted clients and credit is given based on trust in the professional relationship. However, for a start-up or a growing business, this area may become problematic if the...