Introduction to accounting

Ownership for partnership

• Single owner

• 2-20 partners

• 2-20 shareholder

• unlimited number of shareholder

Ownership for sole proprietorship

• Single owner

• 2-20 partners

• 2-20 shareholder

Ownership for limited companies

• Single owner

• 2-20 partners

• 2-20 shareholder

Capital contributed by personal savings, loans and relative

• sole proprietorship

• partnership

• limited company

Registered with Companies Commission of Malaysia and Business Registration Act

• Sole proprietorship

• Partnership

• Limited companies

Capital contributed by the partners according to the agreement

• Sole proprietorships

• Partnership

• Limited companies

Unlimited liability - owner will bear all debts and losses

• Sole proprietorship

• Partnership

• Limited companies

Unlimited liability - Partners will bear all debts and losses

• Sole proprietorship

• Partnership

• Limited companies

Registered with Business Registration Act only

• Sole proprietorship

• Partnership

• Limited companies

Proper books of account must be kept & annual accounts must be sent to Companies Commission of Malaysia

• Sole proprietorship

• Partnership

• Limited companies