Category: Accounting Money and Finance

Debt Consolidation Facts Smart Business Owners Should Gain Knowledge

Businesses are shutting down rapidly because of the huge withstanding debts, Forbes has stated. It has been observed that numerous businesses are constantly struggling to manage the great amount of debt that they have. Not a single business can deny the fact that they have taken loans from the financial institutions in order to help the business in various crucial aspects.

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A Guide for Directors: Reducing the Burden in the Initial Stages of Liquidation

It is important that Directors understand there may be legal and financial ramifications of such an omission. The Corporations Act 2001 (“the Act”) stipulates the mandatory provision of a range of Company documents to the Liquidator following an insolvency event. Failure to do so constitutes a breach of Directors duties under the Act, and will be reported to the Australian Securities and Investment Commission.

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