Tag Archives: Corporation

How Much is Too Much for Corporate Gift Limits?

Recent changes to financial regulations have created complex rules for financial industry compliance. Sarbanes-Oxley and other legislation have made those throughout the industry nervous. A fine line between company confidentiality and transparency must be walked, and one of the most confusing areas is related to corporate gift limits. Companies of all sizes are left to wonder if financial compliance solutions are possible without alienating clients.

What are Corporate Gifts?

Corporate gifts are small value items provided to customers or vendors. Reasons for giving these items include appreciation for a job well done, gratitude for past business, marketing, or recognizing an accomplishment or holiday. Most companies impose their own corporate gift limits in order to avoid conflicts of interest or fraud.

What Does Compliance Have to Do with Gifts?

In the past, audits and regulators found gifts of large monetary value often influenced business decisions. For example, a procurement VP in a major corporation might ensure a vendor receives the contract for certain supplies in exchange for favors and gifts from the vendor. These acts can lead to unfair business practices, and can also decrease profitability for companies.

How Does a Company Enforce Compliance?

The first step to enforcing rules about corporate gifts is to develop a consistent policy. All team members should be educated regarding the parameters deemed appropriate when accepting gifts. Often, team members without this education will accept inappropriate gifts without realizing the impact. Those in a customer service role may also give inappropriately in an attempt to build a relationship with new clients.

Compliance software is available to help companies track corporate gift-giving and receiving. Software which links to and monitors expense reports for all employees can flag non-compliant entertainment or gifts. Companies can discover fraudulent activity by reviewing these reports, and can also provide coaching to team members who abuse policies with innocent intent. Some software also allows employees to enter gifts received. All companies should require team members to report any gift, no matter how small. By reporting all gifts, employees create a transparency that makes it harder for fraudulent activity to occur.

Without the ability to educate, report, and monitor corporate gift activity, it is impossible for a company to maintain financial compliance solutions.

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Financial Dashboard – Everything You Need to Know

Financial declaration reports are required in organizations. They reveal the budgetary position of an organization at a given time. Then again, old fashioned financial reports like balance sheets and profit statements are made in a limited length of time in most cases in a year, or month. Though these records are valuable they cannot be employed to watch the monetary situation of a corporation on a regular basis. There’s effective financial reporting software which could do this: the financial performance dashboard.

A dashboard utilizes visual representations of economic numbers in forms of graphs, bars, lines and pictures to indicate the economic status of the business within a glimpse. Anybody within the firm may easily have an understanding of the report as a result of pictures so communication is upgraded.

Since the dashboard may be frequently developed in daily or weekly basis, the management can become aware about any economical complications in the business at once. Suitable corrections may well then be exercised to enhance the circumstance for the organization’s profit. If mistakes are not discovered as soon as possible, the situation may exacerbate and could position the corporation in a major tactical and fiscal downside in the future.

Several monetary scams that included enormous titles in economic field lately are caused by counterfeit routines. They have put a great deal of uncertainties within the brains of the public about the dependability of financial reports produced by corporations for their shareholders. Openness in all of the stages of transactions is expected by stock investors first, just before they’re able to totally have confidence in the business. A particular approach to assist in this end is simply by utilizing executive dashboard reports. Investors simply don’t have confidence in statistical information; but they may gain more confidence with pictures and graphics they can understand.
Undeniably, dashboard reporting is becoming popular in primary firms. The truth is there are numerous dashboard computer programs marketed in the industry today. Each of them enhances a better way of offering the data and much easier management use. In summary, a financial dashboard is really a strong reporting instrument that could present your corporation great advantages which might result in gains in the long term.

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Business-Driven Acquisitions and Mergers

Acquisitions and mergers are the two known terms which are being used in the corporate world for a strategy which includes merger of two or more corporate businesses in order to get more out of their profits without changing the idea of those businesses. Acquisitions and mergers is more commonly known as and is abbreviated as M&A (mergers and acquisitions) in the corporate world and it do not just include the mergers of two firms but it also includes other decisions which deals with the buying or selling of businesses which can help the main business to grow in the industry at a faster rate than it would on the basic basis without the usage of these strategies.

In terms of definition the word acquisition means the buying of a company by another company so that both of these companies can use each other’s assets including man power in order to get maximum amount of profit and rapid growth of both firms but it does not mean that this strategy will turn out to be in the favor of these companies every time its applied. There are many conditions and analysis that are to be done before taking such vital steps. The nature of companies also matters a lot before considering Phoenix acquisitions and mergers of two companies or businesses.

Generally these steps are considered when companies are having a bad time or the assets of the companies are facing any serious loss. The ultimate goal of using such strategies is to gain a greater market share with better efficiency and profit which are not that rare if these strategies are applied after a detailed study of the company management and accountancy. Its these benefits which allow the small companies to be purchased by the bigger ones because there survival on their own becomes difficult by the time and changing market.

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Incorporating Your Company – How To

Whether you run a brick and mortar company, or an e business setup, incorporating your firm is very important. Before entering the process of having a business incorporated, it is worthwhile to decide whether the process is indeed beneficial for the owner and the business itself. The chief gain made by having the business incorporated is that the company’s liability becomes limited to once it the process is complete. The rationale behind this is that when the company is incorporated, the liability of the owner becomes limited only to the amount of capital brought into the business. Even so, the disadvantages of making a business incorporated include additional expenses for bookkeeping and statutory control as well as double taxation. Double taxation means that the company is taxed twofold in terms of its profits as well as on the dividends earned from its net gains. These thoughts have to be addressed cautiously before one decides to have the company incorporated. Read the rest of the article to know how to become incorporated.

The moment a decision is made, the next step in to choose a name for the company and specify the state in which the company is to be incorporated. The next point is to confirm from the state secretary whether the name is available. What follows next is checking the availability the company trademark from the trademark website of the United States. For small companies that have the intent of operating on a small scale with on state’s jurisdiction, the best decision is to have the firm incorporate in the home state. If the company owner wants to venture beyond borders, this indicates confidence and motivation for growth. In such circumstances, it is imperative that the company be incorporated in a state that offers bountiful business prospects.

With the aforementioned conditions fulfilled, the next move is to verify the availability of all pertinent documents. The documents consist of the Certificate of Incorporation or Articles of Incorporation, Stock Ledger, Stockholder Resolutions, Bylaws for the Company, Stock Certificates, and Declaration by the Company Board of Directors. The practice of being incorporated has been made easy by the Corporation Act, through which most processes have been simplified, by among other things, the use of Internet facilities.

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