Academic literature on the topic 'Formation of business company'

Cílem diplomové práce bylo navrhnout podnikatelský záměr pro nově vznikající adrenalinové centrum v Třinci. Práce je rozdělena do třech kapitol, úvodní vymezuje cíle a metody práce. Další část tvoří teoretický rámec tématu a definuje základní pojmy. Analytická část je součástí samotného business plánu, jenž obsahuje veškeré jeho náležitosti. Výsledkem je přehledný dokument, který může sloužit k interním i externím účelům.

Les repreneurs non familiaux deviennent de plus en plus importants pour diverses raisons.Tout d’abord, les estimations indiquent qu’un nombre croissant de fondateurs de petites et moyennes entreprises sont en voie de quitter leurs entreprises. Ensuite, et de façon concommitante, un nombre croissant de repreneurs familiaux se désintéressent ou ne disposent pas de l’aptitude nécessaire pour reprendre l’entreprise familiale. En conséquence, il se développe un marché de l’investisseur constitué des repreneurs non familiaux potentiels, en situation de sélectionner l’entreprise qui rencontre le mieux leurs attentes. D’autre part, la nature de la composition des actifs de la firme a changé et les actifs immatériels représentent à présent l’un des aspects les plus déterminants dans le succès de la majorité des entreprises. Il est communément accepté que ces actifs sont principalement responsables de la valeur de l’entreprise et de sa croissance dans de nombreuses industries. Cependant, l’étude du lien entre ces actifs et la transmission de PME hors du cercle familiale a été négligée jusqu’à présent.L’objectif de cette étude est d’apporter un éclairage sur la pertinence perçue des actifs immatériels dans le cadre du processus de transmission de PME, et ce de la perspective du repreneur n’appartenant pas au cercle familial. Au sein de ce processus, l’accent est mis sur la phase de préparation, lors de laquelle les repreneurs non familiaux potentiels recherchent et analysent les firmes cibles prometteuses.Sur base d’une démarche scientifique reposant sur des approches mixtes, déployées de façon séquentielle, la présente recherche consiste en une enquête quantitative, administrée en ligne, et impliquant des associations de commerce allemandes ainsi qu’une série d’entretiens qualitatifs menés avec des repreneurs non familiaux de PME allemandes.Les résultats apportent une nouvelle perspective sur la transmission d’entreprise, plus spécifiquement au regard des processus de sélection utilisés par les repreneurs non familiaux. Ainsi, cette étude contribue au développement de la littérature de plusieurs manières. Tout d’abord, une approche alternative de traiter de la transmission de PME en adoptant la perspective des repreneurs non familiaux est proposée, en tenant compte de leur modusoperandi. Ensuite, la vue traditionnelle de la transmission d’entreprise est élargie en considérant les actifs immatériels comme étant des éléments décisifs dans la phase de préparation. Enfin, ces résultats sont résumés dans un cadre qui fournit un aperçu sur les actifs immatériels dans le cadre de la sélection d’entreprise.Au regard du nombre croissant de PME en attente de transmission vers de nouveaux propriétaires, il est fondamental de comprendre la pertinence des actifs immatériels dans la dynamique de la transmission d’entreprise (et en particulier, dans la transmission non familiale). Ceci peut ainsi supporter les professionnels (par exemple, propriétaires, repreneurs potentiels, conseillers) et faciliter le développement de mesures adéquates pour améliorer la qualité de la transmission d’entreprise<br>Non-family successors are becoming more and more important because of different reasons. Firstly, forecasts show that an increasing number of founders of small and medium-sized enterprises (SMEs) are waiting to leave their firms. Secondly, at the same time an increasing number of family successors are uninterested in or ill-suited to company succession. Consequently, it can be talked about as an investor market bringing prospective non-family successors in a position to select the company that best matches their expectations.On the other hand, the nature of a firm's asset composition has changed and intangible assets are now seen to represent one of the crucial aspects determining company success in most companies. It is generally acknowledged that these assets are chiefly responsible for company value and growth in most industries. However, the link between them and non-family succession in SMEs has so far been neglected.The aim of this study is to shed light on the perceived relevance of intangible assets in the SME succession process from the non-family successor perspective. In the process, the focus is on the preparation stage where prospective non-family successors seek and analyse promising target firms.Acquired on the basis of a sequential mixed methods approach, the present body of research material consists of a quantitative web-survey involving German trade associations and a series of qualitative interviews conducted with non-family successors of German SMEs.The findings provide a new perspective on company succession, specifically in regard to selection processes used by non-family successors, and thus this study contributes to the literature in several ways. Firstly, an alternative approach to dealing with company succession in SMEs by adopting the perspective of non-family successors is proposed, taking their modus operandi into account. Secondly, the traditional view of company succession is enlarged by considering intangible assets as being the decisive elements in the preparation stage. Finally, the findings are summarised by proposing a framework which provides insights into critical intangible assets in terms of company selection.Given the increasing number of SMEs waiting to be transferred to new owners, an understanding of the relevance of intangible assets is fundamental to our understanding of the dynamics of company succession (and non-family succession in particular). This in turn may also help practitioners (e.g., incumbents, prospective successors and advisors) to facilitate the proposal of suitable measures to improve the quality of company succession

The subject of this thesis is the accounting and tax solution of starting a limited liability company. The dissertation tries to find answers to concrete practical problems. At first, attention is paid to legal and administrative steps of company foundation, the whole process is divided into several primary phases. After that follows the detailed analysis of formation expenses and the first accounting period. A fiscal year is also mentioned. The largest part of this thesis is dedicated to accounting and tax aspects of capital contributions. Here are described some important issues arising from the current wording of the relevant legislation. The final section deals with the beginning of bookkeeping and as a part of this chapter the important issues of argumentativeness of accounting, choice of accounting policies, internal guidelines and a chart of accounts are solved. Some of these questions have not yet been discussed in professional literature at all, or very little, therefore their solution is the main contribution of this work.

Thesis (MBA (Business Management))--Stellenbosch University, 2008.<br>ENGLISH ABSTRACT: The sustainable growth rate of a company is investigated, by comparing the self-financeable growth rate as defined by Churchill and Mullins (2001), with the cash flow sustainable growth rate as defined by Hamman (1996). The purpose of this research is to identify the behaviour, characteristics and benefits that each rate displays by investigating changes in sales growth, profit margins, working capital and cash flow analysis. The biggest difference between the self-financeable growth rate (Churchill & Mullins, 2001) and the cash flow sustainable growth rate (Hamman, 1996) is the definition of cash as generated from sales (self-financeable growth rate) and cash generated from operating activities (cash flow sustainable growth rate). Cash generated from sales includes accounts receivable or payable, and represents the amount of cash that is available to reinvest in the growth of a company (according to the self-financeable growth rate). Because this cash (calculated for the self-financeable growth rate) is not immediately realised, the cash flow sustainable growth rate (based on cash flow from operating activities) represents a better measurement of cash available for reinvestment. If the percentage sales growth is less than the cash flow sustainable growth rate (Hamman, 1996), a positive sustainable cash flow from operating activities will be generated. The report also shows this to be true, when the self-financeable growth rate is less than or equal to the cash flow sustainable growth rate. When the growth in sales exceeds the cash flow sustainable growth rate, negative cash flow from operating activities is experienced. This is an indication that internal funding to support the working capital requirements is insufficient and external funding is required. In this investigation the self-financeable growth rate (Churchill & Mullins, 2001), always reflects a positive cash flow from operating activities, regardless of whether the percentage sales growth is higher or lower than that of the self-financeable growth rate. This leads to the question: What check is used to ascertain a company's sustainable performance when using the self-financeable growth rate? That is, if the self-financeable growth rate is exceeded by the sales growth, what indicator becomes relevant under the specific circumstances? As highlighted by Churchill and Mullins (2001), the benefits of sustainable growth rates, provide insight into the short and long-term decisions in a company with regards to: • Reducing overall costs • Changing the profit margins • Managing the working capital requirements • Changing the operating cash cycle. What matters most is not how fast a company can grow its business, but the way in which it is managed. Increasing competitiveness requires innovative ways of optimising resources, but without efficient management of cash flow, a company is most likely to fail. This report, illustrates that, compared to the self-financeable growth rate, the cash flow sustainable growth rate is a more effective tool, in addressing sustainable growth and the management of cash.<br>AFRIKAANSE OPSOMMING: 'n Maatskappy se volhoubare groeikoers word ondersoek deur 'n vergelyking te tref tussen die self-gefinansierde groeikoers van Churchill en Mullins (2001), en die kontantvloei volhoubare groeikoers van Hamman (1996). Die doel van die navorsing, is om die verandering in verkope, winsgrense, bedryfskapitaal en die kontantvloei ontleding te ondersoek, ten einde die aard, kenmerke en voordele van die groeikoerse te bepaal. Die grootste verskil tussen die self-gefinansierde groeikoers van Churchill en Mullins (2001), en die kontantvloei volhoubare groeikoers van Hamman (1996) is die definisie van die kontant gegenereer uit verkope (self-gefinansierde groeikoers) en die kontant gegenereer uit bedryfsaktiwiteite (kontantvloei volhoubare groeikoers). Kontant gegenereer uit verkope sluit in rekeninge ontvangbaar of betaalbaar en verteenwoordig die bekikbaarheid van kontant wat herbele kan word in 'n maatskappy se groei (volgens die self-gefinansierde groeikoers). Omdat die kontant (self-gefinansierde groeikoers) nie ommiddelik gerealiseer kan word nie, is die kontantvloei volhoubare groeikoers (kontant gegenereer uit bedryfsaktiwiteite) 'n beter verteenwoordiger van beskikbare kontant wat herbele kan word. As die presentasie groei in verkope minder is as die kontantvloei volhoubare groeikoers (Hamman, 1996) sal 'n positiewe volhoubare kontantvloei vir bedryfsaktiwiteite gegenereer word. Die verslag dui aan dat bogenoemde ook geld, as die self-gefinansierde groeikoers kleiner of gelyk is aan die kontantvloei volhoubare groeikoers. Wanneer die groei in verkope groter word as die kontantvloei volhoubare groeikoers, word negatiewe kontantvloei vir bedryfsaktiwiteite gegenereer. Hierdie is 'n aanduiding dat die interne befondsing wat benodig word om die bedryfskapitaal te bevredig, nie voldoende is nie en eksterne befondsing benodig word. In hierdie ondersoek reflekteer die self-gefinansierde groeikoers (Churchill & Mullins, 2001) altyd 'n positiewe kontantvloei vir bedryfsaktiwiteite, ongeag of die groei in verkope groter of kleiner is as die van die self-gefinansierde groeikoers. Dit lei tot die volgende vraag: Watter maatslaf word gebruik om die volhoubare groei van 'n maatskappy te bepaal as die self-gefinansierde groeikoers toegepas word? Anders gestel, as die groei in verkope, die self-gefinansierde groeikoers oorskry, watter toepaslike aanduiding is relevant onder hierdie omstandighede? Soos beklemloon deur Churchill en Mullins (2001), gee die voordele van volhoubare groeikoerse, insig in kort en langtermyn besluite in 'n maatskappy met betrekking tot: • Vermindering van totale koste • Verandering in winsgrense • Bestuur van bedryfskapitaal behoeftes • Verandering in die bedryfs kontant siklus. Wat van belang is, is nie hoe vinnig 'n maatskappy kan groei nie, maar wat die beste manier is, om dit te bestuur. 'n Verhoging in kompetisie, benodig innoverende maniere om bronne te kan optimiseer en sonder effektiewe betuur van kontant, bestaan die moontlikheid dat 'n maatskappy hierin kan misluk. Hierdie verslag illuslreer, deur te vergelyk met die van die self-gefinansierde groeikoers, dat die kontantvloei volhoubare groeikoers 'n beter, effektiewe maatstaf is, wat betref die adressering van volhoubare groei en die bestuur van kontant.

Existing high voltage direct current (HVDC) stations have an estimated life-cycle of 30 to 40 years.During this time, operations will be subjected to varying disturbances, including spare partobsolescence, new cyber-security requirements, unforeseen failures as well as planned and forcedoutages. Until recently, HVDC station owners have managed maintenance themselves in accordanceto their own experience and the documentation provided at project delivery. Lately, increasingcustomer interest in life-cycle cost, service agreements and novel maintenance practices have creatednew business opportunities such as long-term full-service agreements (FSAs), call-centre support, carepackages, and more.This master thesis strives to map Company A’s current state to assess how prerequisites formaintenance are created during greenfield1 projects. Prerequisites for maintenance include manyaspects, including HVDC station design, maintenance planning, documentation, education, safety andother aspects governing conditions for effective maintenance. The purpose is to answer how CompanyA may organize responsibilities during pre-tender, tendering, project execution, warranty and servicecommitments to ensure that prerequisites for maintenance of HVDC systems are duly considered andoptimised according to the customer’s long-term expectations and satisfaction.Qualitative data was collected through 17 semi-structured interviews across different functions withinCompany A’s organisation. Also, a cross-sectional survey, combining open and closed questions aimedat the maintenance situation of HVDC stations where Company A has FSAs, was conducted. The resultconstitutes of a current state description based on the interviews. The ensuing discussion providesrecommendations based on the established needs, as well as insights provided through literature.Conclusively, a maintenance engineering function is proposed to address task ambiguity,organisational deficiencies, and create a process for formalisation of experience, maintenancedevelopment, and continuous improvement of the maintenance process. Specific recommendationsinclude the introduction of a new customer information channel called Incidents, where operators ofHVDC stations may communicate design-flaws, suggestions on improvements and other issues that donot naturally fall within the equipment failure record (EFR) and disturbance outage report (DOR)category. Also, the maintenance activities listed in the maintenance activity list (MAL) (provided to thecustomer at project delivery) may be refined by clustering maintenance activities, to ensure that themaintenance time is minimised and not treated as a sequential list (which affects planned outagefrequency and scheduled outage time). The survey was inconclusive due to a low response rate.<br>En högspänd likströmsstation (HVDC-station) har en uppskattad livslängd på 30 till 40 år, under vilkenden utsätts för olika typer av driftsstörningar, exempelvis reservdelsobsolescens, nyacybersäkerhetskrav, oförutsedda haverier såväl som planerade och oplanerade strömavbrott. Framtills nyligen har ägare av HVDC-stationer egenhändigt underhållit sina anläggningar utifrån tidigareackumulerad erfarenhet och den dokumentation som inkluderats vid projektleverans. På senare tidhar dock kundintresset för livscykelkostnader, serviceavtal och moderna underhållstekniker skapat nyaaffärsmöjligheter för HVDC-leverantörer i form av långsiktiga serviceavtal.Det här mastersarbetet avser kartlägga Company A:s nuläge för att utvärdera hur förutsättningar förunderhåll skapas under ett nyanskaffningsprojekt. Förutsättningar för underhåll inkluderar ett flertalaspekter som sammantaget styr effektiviteten i stationsunderhållet, däribland stationsdesign,underhållsplanering, dokumentation, utbildning och säkerhet. Arbetets syfte är att besvara hurCompany A kan organisera underhållsansvaret under offerering, projektexekvering, garanti ochserviceåtaganden för att säkerställa att förutsättningar för underhåll av HVDC system är tillbörligtbeaktade och optimerade utifrån kundens långsiktiga förväntningar.Genom en intervjuserie bestående av 17 semistrukturerade intervjuer med olika funktioner inomCompany A insamlades kvalitativa data. Därutöver granskades interna processer och databaservartefter en enkätundersökning genomfördes. Undersökningen var baserad på både öppna och slutnafrågor och avsåg utröna underhållssituationen för HVDC-stationer där Company A har ett omfattandeoch långsiktigt serviceåtagande (FSA). Resultatet består av en nulägesbeskrivning utifrån det insamladeinformationsunderlaget. Den efterkommande diskussionen föreslår rekommendationer utifrånidentifierade behov och insikter hämtade ur litteraturen.Slutligen föreslås en underhållsteknisk funktion för att adressera tvetydighet i befintligaarbetsuppgifter, organisatoriska brister, samt en process för formaliserandet av erfarenheter,underhållsutveckling, och förutsättningar för kontinuerlig förbättring av underhållsprocessen.Specifika rekommendationer inkluderar introduktionen av en ny (kundstyrd) informationskanal(Incidents) genom vilken operatörer av HVDC-stationer kan kommunicera designbrister, förslag påförbättringsåtgärder och andra händelser som normalt inte faller inom de befintliga equipment failurerecord (EFR) och disturbance outage report (DOR) kategorierna. Vidare föreslås attunderhållsaktiviteterna listade i underhållsaktivitetslistan (MAL), som tillfaller kund vidprojektleverans, bör ”klumpas”. Detta bör resultera i en minskning av rekommenderad underhållstidoch säkerställa att aktiviteter som kan ske parallellt inte sker sekventiellt, vilket i sin tur påverkar bådedriftstoppsfrekvens och varaktighet. Avslutningsvis kan det konstateras att enkätundersökningen varin-konklusiv på grund av låg svarsfrekvens.