[经济学]2财务管理专业英语.pptVIP

2、Introduction to Financial Management(2) 2.1 Types of Business Organization 企业的组织形式 2.2 Corporate Structure of the Company 企业结构 2、Introduction to Financial Management(2) 2.3 Objectives of Financial Management 财务管理的目标 2.4 Separation of Ownership and Control 所有权和控制权的分离 2.5 Agency Relationships 代理关系 2.1 Types of Business Organization Sole Proprietorship 独资企业 Partnership 合伙制企业 Corporation 公司 2.1 Types of Business Organization This is an important decision as the legal structure affects the financial risk faced by the owner of the company. 2.1.1 Sole Proprietorship A sole proprietorship is an unincorporated business owned by one person. 2.1.1 Sole Proprietorship Advantages: easy to form; no double taxation Drawbacks: non-transferable; limited life; limited pool of funds; unlimited liability 2.1.2 Partnership Partnerships may operate under different degrees of formality, ranging from informal, oral understandings to formal agreements filed with the secretary of the state in which the partnership was formed. 2.1.2 Partnership Unlimited liability Ownership is not transferable Limited life 2.1.2 Partnership Partnerships have a limited life in that the death or departure of a partner dissolves the partnership structure. 四大会计师事务所 Arthur Andersen 安达信 Coopers Lybrand 永道 Deloitte Touche 德勤 Ernst Young 安永 KPMG Peat Marwich 毕马威 Price Waterhouse 普华 2.1.2 Partnership Therefore, if any partner is unable to meet his or her prorate liability in the event that the partnership goes bankrupt, the remaining partners must make good on the unsatisfied claims, drawing on their personal assets to the extend necessary. 2.1.2 Partnership Limited partnership 有限合伙制企业 General partners 一般合伙人 Limited partners 有限责任合伙人 2.1.3 Corporation A corporation is a legal entity separate from its owners. 2.1.3 Corporation Being a separate legal entity also implies that corporate income is taxa