Posts Tagged ‘Different’
Utilizing The Different Types of Corporate Documents
Posted by admin in Corporate Finance on December 4th, 2009
Managing a corporation is no easy task. The same is true of managing the various corporate documents that companies use on a day-to-day basis. Companies must record and file these corporate documents, since it is necessary for a corporation to maintain records for at least the last six years. The documents are proof that all the activities of the corporation are carried out according to the directives of the board of directors and the shareholders. A proper and efficient filing system is of paramount importance to be certain all the documents are safe from the dangers of theft. The loss of confidential papers due to inadequate security can cause great harm to the company
The Types Of Corporate Documents:
1.Article Of Incorporation: When the company is incorporated, the article of incorporation is the first basic document. It is the documented proof of the creation of the company, the corporate purposes, and the corporate powers. It authorizes the capitalization of the stock. It must be filed with the Secretary of State after paying an appropriate fee and having it notarized and signed by the incorporators.
2.Certificate Of Incorporation: The Secretary of State issues the certificate of incorporation after signing it and declaring the corporation to be a legal body as of its date of incorporation.
3.Consent Of Agent: The Consent of Agent serves the process of incorporation for the jurisdiction where the company was incorporated.
4.Bylaws And Amendments: The bylaws and the amendments of the articles of incorporation adopted by the corporation are integral to the proper running of a corporation.
5.Letters, Agreements, And Secretary Certificates: The corporation must keep safe the letters addressed to the shareholders, resignation letters of directors, secretary certificates and shareholders agreements.
6.Share Certificates And Stock Ledger: Copies of share certificates issued are filed and documented, as is the stock ledger with the folio pages. These provide information regarding the shareholder’s name and address, the date of the share’s issue, and documents with the shareholder’s signature acknowledging the receipt of the certificates. Companies maintain the stock ledger to know exactly who owns each share of the corporation. Companies update it regularly with documented proof of such actions as transfer of the share, if it is an original issue of the share, if the share has been received as a gift from another share holder, if the shares have been transferred from a deceased shareholder to his estate, or if a joint survivorship agreement makes the joint owner of the shares the new single owner of all the shares in question.
7.Legal Documents: The company must deal with a lot of legal documents such as government related documents, franchise tax renewals, license renewal, and reports of the company’s annual meetings. There are also legal documents relating to hiring of employees, purchasing, leasing or renting of assets, processes of litigation, and bankruptcy filing.
8.Financial Records: The company must document the financial records and maintain a current balance sheet, a profit and loss statement document, and a host of other documents related to the corporate finance. The company must keep safe bank statements, records of all payments made for transactions, the fees received and the scale of pay of each of its employees. There are documents concerning dividends and the type of dividends agreed on by the board of directors and the shareholders, the various resolutions proposed. These resolutions include those that the quorum accepts and the resolutions that the quorum rejects.
9.Other Important Documents: The minutes of all meetings, the consent in lieu documents, the notices, the waivers of notices, the stock subscription agreement, the alphabetical list of shareholders for a meeting, and the proxies for a meeting are other important documents.
Additional Help
Numerous software packages are available in the market online to help document and file these important documents for corporations.
Different Jobs In The Finance And Banking Industries
Posted by admin in Corporate Finance on December 2nd, 2009
Jobs in the finance industry are diverse and far reaching. Banking jobs have long been viewed as dull and uninteresting but this could not be further from the truth. With roles in financial planning, investment banking and real estate to name but a few, career paths in the finance industry are plentiful.
Commercial banking jobs are wide ranging, they offer great entry level positions and good career progression. The many large organisations in commercial banking also offer good employment security. Commercial banks provide employ more people than any other sector of the finance industry, they offer good opportunities to understand the world of business and interact with customers.
The world of corporate finance is wholly different as it usually entails working ‘in house’ using your technical knowledge to plan for a businesses future, the work is driven towards the growth of the business. Fundamentally jobs in this sector of the banking industry create value for their company, they are predominantly performance related so subsequently can be high pressure, although this pressure is elongated and based upon long term goals.
Financial planners carry out similar tasks to those in the corporate sphere; these jobs however are focussed upon helping individuals plan for their future. The work requires outstanding interpersonal skills while it can be ultimately rewarding; both financially and personally. For this role understanding of estate planning issues, investments and taxes is a prerequisite.
The field of insurance also offers a variety of finance jobs; insurance is increasingly becoming a lucrative field as more and more people become dependent upon it. Jobs in this sector include calculating risk and anticipating future problems. Job roles include underwriter, customer and sales representative, as well as asset manager. Today the insurance industry is trying to leave its negative image in the past and promote the idea that their industry is there to help people in times of need.
Investment banking has long been seen as the most lucrative sector in the financial industry. The job includes purchasing assets, trade securities and offering financial assistance. As well as large multinational investment banking firms there are smaller companies that operate on a more regional level. These jobs are important to world finance as the work larger companies undertake is often for governments.
Being a money manager is one of the most rewarding jobs in banking. It fundamentally involves the investment side of the stock market. Dealing in stocks and bonds makes up the majority of the work although freedom to work how you like is a large constituent of these jobs.
Unfortunately starting in money management is difficult, top companies only hire experienced individuals, although experience can be gained with local pension fund companies and insurance companies. Understanding portfolio theory, fixed income investments and gaining official qualifications will assist in getting this type of finance job.
Finally there is the financial field of real estate, jobs in this sector are diverse and vary from construction to mortgage brokering and leasing. With over a third of the world’s wealth tied up in real estate this is a financially rewarding sector to enter. The close ties real estate has with society in terms of infrastructure development gives these jobs a sense of social responsibility, while the work offers different challenges on a daily basis. Of all the jobs in banking this is often the most interesting field to enter.
As previously stated, jobs within the banking and financial industries vary greatly; with so many disparate fields there is much to offer prospective financiers. The skills needed in the banking industries are considerably unique to each field. However, if you feel you are shrewd with funds and in most cases great with people, working in the finance industry could be the career path for you.