Nobody downloaded yet

Corporation Governance - Coursework Example

Comments (0) Cite this document
Jack, who is a director of Colour Image Pty Ltd is expected to act with reasonable care, skill and diligence and to prevent insolvent trading under s 185 Corporations Act. These are the basic duties of the directors.
The responsibility to stop insolvent trade is encompassed in…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Corporation Governance
Read TextPreview

Extract of sample
"Corporation Governance"

Download file to see previous pages Duty only applies to directors not ‘officers’ as with other duties. Under {s 588V Corporations Act} Holding Companies also have a duty to prevent their subsidiaries from trading whilst insolvent’
Firstly under {s 588G(1)(a) Corporations Act}, “the duty is only imposed on directors and NOT officers. However, the definition of ‘directors’ will include shadow and de facto directors. Recall de facto director acts as a director even if they are not validly appointed and shadow director is able to have influence over the board” (Melbourne University Law Students Society Tribunal Service, “Corporations Law”).
Firstly it should be illustrated that only willingly incurred debts for specific amount can bear a charge of insolvent trading {Standard Charter Bank per Hodgson J}, “a company incurs a debt when by its choice it does or omits something which, as a matter of substance and commercial reality, renders it liable for a debt for which it otherwise would not have been liable” (Cassidy, “Concise Corporations Law”)
The defense which Jack can have is that he needs to show the reasonable grounds for his expectations of insolvency at the time the debts were taken. Again he needs to show that he relied on the information provided by others in the management which led to insolvency. Otherwise, he has to validate certain credible reasons for his absence.
Smith and Jones can register under Limited Liability Corporations (LLC). This type of corporations is much in demand nowadays. They are the combination of partnership firm and a corporation. The tax effects are mostly based on that of the partnership firm but other entities is that it shares of the corporations. It is formed by members and not shareholders.
Advantages of a Limited Liability Company can be that LLCs offer personal liability guard for members. The legal procedures to be followed are very simple and lucid. The members can come to agreement on their own terms, ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Corporation Governance Coursework Example | Topics and Well Written Essays - 2500 words”, n.d.)
Corporation Governance Coursework Example | Topics and Well Written Essays - 2500 words. Retrieved from
(Corporation Governance Coursework Example | Topics and Well Written Essays - 2500 Words)
Corporation Governance Coursework Example | Topics and Well Written Essays - 2500 Words.
“Corporation Governance Coursework Example | Topics and Well Written Essays - 2500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Corporation acquisitions
...? Corporate Acquisitions ID Lecturer The reason why firms purchase other corporations is because theybelieve that the other corporation shall help them in profit maximization and increase in revenues for a period of time. It helps them establish their basis within the pertinent market domains, and assist in exponentially enhancing their market share within the related market terrains. At times, firms pay just too much to acquire other corporations (Gaughan 1999). At other times, the costs for acquiring corporations is just reasonable, however this hardly happens and the firms end up paying a lot of money to purchase other corporations...
1 Pages(250 words)Assignment
...? Better Boards Governance Better Boards Governance The High Performance Board High performance board as prescribed by Nadler (2004) have the right mind set, the right role, the right work, the right people, the right agenda, the right information, and the right culture. Each of these is useful and necessary because they shape the direction of the organization towards goals. With the right mindset, the boards focus on purpose, resources, and effectiveness through self-assessments, conducting and acting. It requires rigorous introspection and the pitfall of implementation is the lack of knowledge about what to asses and how to apply results. The right role requires board member engagement. The traditional model has a passive board... to gain...
3 Pages(750 words)Essay
Cigna Corporation
...: Moderate/Low The individual customer or buyer do not have that much power to influence the premium cost, in the other hand large corporations and the government can have a big influence. Due to the new healthcare reform, the insurance companies like CIGNA will be scrutinized and will have to submit ma report to the Health and Human Services department every time they plan to increase their premiums. While there are a large number of competitors in the health insurance industry, which gives CIGNA’s primary client, the employers, a broader basket to choose options from their nation-wide network does provide them with an advantage over other competitors in this regard. Additionally, the...
18 Pages(4500 words)Essay
S Corporation vs. Corporation
...that has been paid by corporations in terms of corporate tax has been dropping and it is quoted as being 31.9% by the financial times (Demos, 2012). The move towards making Lost and found Corp. an S corporation has been informed by the need to limit shareholders tax burden. In making this corporation into a designation S one, means that the shareholders still enjoy the benefits of a corporation without the need for double taxation. Shareholders who have lower tax rates can utilize this new designation to cut the tax that they pay the federal government. This is because in being an S corporation the shareholders only get...
3 Pages(750 words)Essay
Governance such skills which again is a drawback for the profitability of the organization. The firm must try to develop different skills within the board of directors so that they can run the operations of the firm smoothly. References Boards and Governance. (2013). Retrieved April 28, 2013, from national council of nonprofits: Jeanne M. Schuster, E. C. (2011). IRS Clarifies Corporate Governance Questions for Tax-Exempt Organizations. Journal of Accountancy . Nonprofit Governance and the IRS. (2010, January). Non Profit Edge . Winsten, S. N. (2013, April 27)....
4 Pages(1000 words)Essay
Huntsman Corporation
...? Huntsman Corporation of the of the Company Overview Huntsman Corporation is an international company that manufactures differentiated chemicals and markets them globally. The company was originally known for making ground-breaking innovations in the packaging industry. Later on the company entered the petrochemicals industry and showed very high growth rate. The company produces a wide variety of products for a number of industries operating globally, such as, “chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging” (Huntsman, 2013a). Approximately the company has 12,000 employees and has... ...
15 Pages(3750 words)Research Paper
...responsibility has also been covered in the book and the work has been primarily addressed to the public at large making them aware of the malpractices of the corporations as well as the provoking attitude of the firms (Bakan 2005). Bakan in his book states the account of the organizations belonging to the 18th century and draws a comparison with the current corporate practices. During the past, the corporate structure was fairly exceptional and facilitated exclusively the methods for carrying out specific big projects for the interest of the public. Today the firms tend to govern our societies and economies. Greater emphasis can be found on the main attributes of...
4 Pages(1000 words)Essay
Corporate governance of Westpac Banking Corporation AUSTRALIA
...CORPORATE GOVERNANCE OF WESTPAC BANKING CORPORATION AUSTRALIA Introduction Corporate governance has become the buzz word and has accomplished in drawing a good deal of public interest because of its visible significance of corporations and society with respect to economic health. Corporate governance is a complex concept as it deals with many different economic happenings. Looking at a broader perspective corporate governance can be regarded as a set of procedures, customs, guidelines, rules and regulations affecting the way a corporation is planned, directed, governed or controlled. It also includes the relationships among the stakeholders and the aims for which the corporation is managed. The main stakeholders involved... are the...
5 Pages(1250 words)Essay
...Governance Introduction Governance is defined as a process of making and implementing new ideas that will be used to guide the society on the way forward. In the European Union governance is mainly facilitated by the changes that have been taking place that is; the transformation, which sometimes is influenced by the society's tradition understandings. Therefore governance is mainly facilitated or brought in by the transformation process and the continued tradition understandings in Europe. Transformation The term transformation relates to the changes that are likely to occur or have already happened. These changes are may have both negative and positive impacts to...
3 Pages(750 words)Essay
Olympus corporation scandal 2011 and corporate governance failures
...Olympus Scandal – An Analysis The Olympus Corporation, Japan was involved in a 7 billion scam in which related to its manipulationof accounts for speculative losses incurred by it over the period of lost 10 years. Critics argue that scam was the result of failure of corporate governance code of Japan as it failed to safeguard the interest of shareholders by stipulating strong governance codes like compulsory appointment of independent directors to the board , evaluation of non-independent directors’ performance by the independent directors , not following international accounting standards for accounting investments , poor play by institutional investors , non-existence of strong take-over codes and the role of statutory auditors... to...
12 Pages(3000 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Coursework on topic Corporation Governance for FREE!
Contact Us