A Company Responsible For Marketing Music Recordings

A partnership is the creation of two or more people who operate a business as co-owners and share profits. There is a collective amount of money that is contributed to the organization as it pertains to all aspect of the business and in return each individual share equally the profits and losses of the business. Partnerships require that there be a partnership agreement established because more than one person can make decisions for the partnership. The agreement should include how future business decisions will be made, the profits will be split among the partners, and the dissolving of the partnership (sba.gov). The partnership must file an annual information return that reports income, deductions, gains, and losses that occur from normal business operations. The business does not pay income taxes but the business pass through any profits and losses to its partners. Taxes that are included in a partnership are: employment tax, excise tax, annual return of income, income tax, self-employment tax, and estimated tax. Other qualifications of a partnership is that partners must furnish a copy of their Schedule K-1 form to all the partners by the date of the Form. It is important to remember that partners are not employees and they are not to be issued a W-2 Form.

Budget is a planned outcome of the future - defined by your plan that your business wants to achieve.

According to Shim, Siegel, Shim 2012, budgets are an efficient method of allocating financial resources to achieve strategic goals. For companies to compete in the global market it is essential to monitor and control spending in order to see progress toward reaching their goals. Budgets help to control spending, estimate cash flow and profits, while striving to meet goals.

Limited liability companies are owners that are not liable for claims against their firm. They may lose their investment in the company, but not their personal assets.

A budget is a projection/estimation of the financial requirements and burdens that an individual/business drafts to understand their spending and financial boundaries. A budget generally outlines the situation a person will be in financially and can be created using estimates of future incomes and expenses.

Budget - is a financial plan for the future concerning the cost and revenues of a business. However, a budget is about much more than just financial numbers.

What is a budget? A budget forecasts the financial results and financial position of a company for one or more future periods. A budget is used for planning and performance measurement purposes, which can involve spending for fixed assets, rolling out new products, training employees, setting up bonus plans, controlling operations, and so forth (Bragg, 2017).

A budget, as defined by Hilton (2009 pg 348), is a detailed plan, expressed in quantitative terms that specifies how resources will be acquired and used during a specific period of time. A budget is a financial document utilized to project future income and expenses. A budget is based on how much you make in income and what your monthly expenses are. Budgets evaluate performances while the plan is what is going to happen or refine what you want to accomplish by thinking ahead. The purpose of having a budget is it improves efficiency, assigns responsibility, provides direction, and helps businesses plans and control finances. Managers use the budget as a

Company use budget to plan, monitor, measure and control the spending. The budget is an outline that shows expectations for store financial performance.

Budgets are used by businesses and individuals to ensure that the end result is positive. A budget is basically a plan used by businesses and individuals to ensure enough money is available for current and future commitments and

Firstly budget can be defined as “a quantitate expression of a plan of action and aid to coordinating and implementing the plan”(Horngren, Sundem and Stratton,2013). To add to this definition Collier(2006) also suggested profit is based on a defined level of activity and it takes into consideration of future time periods. budgets main purpose can be split into assisting managers in control and planning of the firm, moreover it also include sub factor such as acting as a communication device between departments. Furthermore jill collins definition for budgetary control is the process by which financial control is exercise by manager preparing budgets for revenue and expenditure for each function of the organisation in advance of accounting period. It also involve analysis of performance of department

A budget is a financial plan for implementing management decisions and which considers income and expenditures. Contemporary budgeting practice involves the implementation of a long term plan for the year ahead through the development of detailed financial plans. (Drury, 2012)

Limited liability for the company debts, although owners are not totally protected if the company fails it is easier for small businesses to take steps to increase their profitability through securing capital and making investments. Taxation rates often have more favourable values which help to decrease running costs and repayments.

Budget is a comprehensive business plan for procuring and appropriating a firm’s financial resources over a specified time period.

A partnership is legal relationship formed by the agreement between 02 or more people to carry on a business as co-owners. And the profit and loses also will be share between who are they acting as a partners of the business.